Husk Power is raising $400 million to light up more lives
Husk Power Systems, a company bringing electricity to remote areas in India and Nigeria, is raising $400 million to grow bigger and prep for an IPO.
With this boost, they want to make their revenue 10x by 2030 and plan to expand beyond their current 400 mini-grids into new places such as the Democratic Republic of Congo and Madagascar.
Big plans, smart tech, and global investors
Husk's goal? Power up 30 million people using AI to make energy smarter and more reliable.
CEO Manoj Sinha is aiming for nearly double revenue growth every year.
Previous funding rounds included major backers like Shell Ventures and the US International Development Finance Corp., and Husk targets 2029 to begin preparing for an IPO in India, and possibly in London or the US.
Husk's bigger dream ties into the World Bank's Mission 300: bringing electricity to millions across Africa by the end of the decade.