Judul : All On backs Koolboks’ $11m clean cooling drive
link : All On backs Koolboks’ $11m clean cooling drive
All On backs Koolboks’ $11m clean cooling drive
All On, the impact investment company backed by Shell to accelerate energy access in Nigeria, has reaffirmed its dedication to driving affordable and sustainable energy solutions with a follow-on investment in Koolboks, a solar refrigeration startup.
The investment formed part of Koolboks’ recently concluded $11m Series A funding round, led by KawiSafi Ventures, and co-led by All On and Aruwa Capital. The new funding is expected to help Koolboks scale its innovative solar-powered, IoT-enabled refrigeration systems across Nigeria and other emerging markets.
This investment builds on All On’s earlier $500,000 support in 2022, which enabled the deployment of Koolboks’ solar freezers in underserved Nigerian communities. The company’s latest move underscores its long-term commitment to fostering inclusive energy solutions that empower households and small businesses while tackling climate and energy challenges.
A key milestone from All On’s support has been the establishment of Koolboks’ first local assembly plant in Nigeria.
The facility is projected to create jobs, reduce product costs for end users, and strengthen local capacity for manufacturing energy solutions. This aligns with All On’s broader mission to grow Nigeria’s off-grid energy market while promoting energy innovations that improve livelihoods.
Since its inception, Koolboks has impacted over 10,000 users across 25 countries. Its Pay-As-You-Go (PAYGO) solar freezers have benefited market women, frozen food vendors, and rural health clinics, providing reliable cold storage without dependence on diesel or unstable grid electricity. These solutions are critical for improving food security, economic resilience, and public health.
“All On believes that access to reliable energy is foundational to both economic empowerment and climate resilience,” said All On’s CEO, Caroline Eboumbou. “Koolboks exemplifies the type of innovation we are proud to support—solutions that tackle energy poverty while creating income opportunities for women and small businesses. Our follow-on investment demonstrates confidence in their mission and the transformative impact they are delivering in Nigeria and beyond.”
Koolboks Co-Founder and CEO, Ayoola Dominic, welcomed the renewed backing, stressing that All On’s early support was pivotal in enabling the company to scale operations and expand access to underserved communities. “This Series A funding round will allow us to deepen our impact and strengthen local production through our assembly plant in Nigeria,” Dominic said.
Investment Manager at All On, Oluseye Bassir, praised Koolboks’ strong execution and growth trajectory. “Since our initial investment, Koolboks has demonstrated measurable impact through its scalable model, local assembly strategy, and inclusive financing approach. These align perfectly with All On’s vision of driving sustainable energy access. We are excited to support their next phase of growth and expand clean cooling solutions across underserved communities,” he said.
In addition to expanding production, the new capital injection will support Koolboks’ digital financing platform, Koolbuy, which provides access to cooling products on flexible Buy Now, Pay Later (BNPL) terms. Another initiative, the Scrap4New program, refurbishes discarded freezers into solar-powered units. This approach extends product lifecycles, reduces electronic waste, and broadens access to sustainable cooling solutions for low-income households.
With energy poverty still a pressing issue across Africa, innovative companies like Koolboks are increasingly critical to bridging the gap. Reliable cooling solutions not only improve food preservation and small business viability but also strengthen healthcare delivery in rural areas where grid electricity is unreliable.
Through this Series A investment, All On is helping to position Koolboks as a leading player in the clean cooling segment. The collaboration reflects a shared commitment to delivering impactful, market-driven solutions that drive economic inclusion, environmental sustainability, and energy access across Nigeria and beyond.
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