Koolboks, a Paris-based climate technology company with operations across Africa, has raised $11 million in a funding round aimed at scaling its solar-powered refrigeration solutions on the continent.
The round includes a mix of equity, debt and grant funding. KawiSafi Ventures led the equity portion, with participation from returning investors Aruwa Capital and All On.
Debt financing was provided by French institutions Bpifrance and the French Facility for Global Environment, while grants and results-based funding came from Innovate UK, Shell Foundation, CEI Africa, UK Aid, the IKEA Foundation and Efficiency for Access.
Founded in 2018, Koolboks builds solar-powered refrigerators that operate off-grid, using a thermal ice-battery system that can keep items cold for up to four days without external power.
The company uses IoT technology for remote monitoring and supports pay-as-you-go and buy-now-pay-later models, making the units more accessible to small businesses, clinics, and farmers in areas with unreliable electricity.
The new capital will support the establishment of a local assembly plant in Nigeria within the next 12 to 18 months, a move designed to reduce logistics costs and provide savings to end users.
Koolboks also plans to expand operations in Nigeria, Côte d’Ivoire, Senegal, and other African markets and to grow its operational team and after-sales support.
More than 10,000 Koolboks units have been deployed in about 25 countries, with Nigeria currently the company’s largest market.
Koolboks says its technology supports food vendors, farmers, and healthcare clinics, helping to reduce food spoilage, improve vaccine storage, and cut reliance on diesel generators.
Announcing the raise on LinkedIn, Koolboks wrote: “They told us it was ‘just a freezer.’ But what if a freezer could pay school fees? What if it could save a business? What if it could save lives?”
With headquarters in Paris and local offices in Lagos, Nairobi and Kampala, Koolboks blends European engineering with local market presence in Africa.
The company says the new funding marks a significant step for Africa’s climate-tech ecosystem and signals increased investor interest in clean energy and distributed infrastructure.
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