Sun King raises $40 million in equity from Lightrock

Sun King has raised $40 million in equity financing from Lightrock, a global sustainable investment platform. The company announced the deal on 12 December 2025. Ekta Partners acted as exclusive financial adviser on the transaction.

What Sun King does

Sun King calls itself the world's largest off-grid solar energy company. It combines energy generation, energy-efficient appliances, installation and consumer financing, including pay-as-you-go plans, for households, businesses and institutions without reliable grid power. The company says it operates in 11 African countries and plans to enter new geographies.

Track record

Sun King has been operating for about 18 years and says it has delivered 29 million solar products since 2007. About 67% of its customers had no electricity access before. It has provided $1.4 billion in customer financing across Africa, and monthly solar kit deliveries have grown from 10,000 in 2017 to more than 330,000 today. Pay-as-you-go prices start from about $0.15 to $0.20 a day, over 12 to 24 months.

Plans to 2030

The money will go towards broadening the product range, with higher-capacity systems, pay-as-you-go clean cooking, smartphones and productive-use appliances for refrigeration and milling. Targets for 2030 include 3.8 GW of new decentralised solar capacity and more than 50 million additional solar kits. Sun King also wants to grow from 470 shops to about 1,650 and from 45,000 agents to about 90,000, and to deepen its presence in current markets. Co-founder and CEO T. Patrick Walsh said: "We are working to expand to one million solar kits each month by 2030."

At a glance

• Company: Sun King
• Raised: $40 million
• Round or Type: Equity financing
• Investor: Lightrock
• Adviser: Ekta Partners
• Markets: 11 African countries
• Key number: 29 million solar products delivered since 2007