The San Francisco-based social enterprise d.light announced today that it has closed an $11 million Series C round. The participating investors included DFJ, Omidyar Network, Nexus India Capital, Gray Ghost Ventures, Acumen, and Garage Technology Ventures.
With the Series C closing, d.light has raised a total of $40 million in capital.
d.light, with offices in China, India, and Kenya, manufactures and distributes solar lighting and power products in the developing world. In 2013, it sold 6 million products across the globe and reports that it has improved the lives of almost 30 million people so far.
“We are seeing an enormous growth opportunity to provide clean, affordable solar light and power products to the relatively untapped markets of the developing world, and to make a positive impact on the lives of so many underserved consumers,” said Mohanjit Jolly, managing director of DFJ.
“d.light has built an extraordinary distribution system in the developing world with its innovative technology and products. They are the clear leader in a rapidly growing market. We’re thrilled to have the opportunity to support d.light and its commitment to bring lighting and power to the developing world.”
The additional funding will be used to continue to accelerate its product technology roadmap, expand its distribution in developing markets, broaden its services, and aggressively pursue new opportunities.
Meanwhile, the company also announced the addition of both Jolly and Matt Bannick, managing partner at Omidyar Network, to their board of directors. d.light welcomes Jolly’s insights as DFJ’s India portfolio manager and Bannick’s experience as former eBay and PayPal president and as managing director of Omidyar Network for the last seven years.
Social Enterprise Buzz is a media company dedicated to covering social enterprise news from around the world. We publish a range of stories from startups to entrepreneurship, innovation, and finance, which showcase business making the world a better place. Read more.