Solar Power Startup Niko raises $3.3M

Solar System Roof

Mexican climate tech Niko has raised $3.3M in a seed round led by Picus Capital and 468 Capital, with participation of other VCs and angel investors.

With the funds, Niko aims to tackle Mexico’s solar power challenges and high electricity costs by providing a full-suite of services from financing, installation, and maintenance to residential customers and small commercial companies. 

“Electricity costs, here in Mexico, for at least a portion of the population, are higher than in California. With our service, residential customers will save between 20-40% on their monthly utility bills, while small commercial customers will save up to 20%,” explained Raffaele Sertorio, Co-founder of Niko. 

Niko utilizes satellite technology to generate quotes for the solar panel installation within a few hours. It also grants access to credit lines through a fully digital process with rapid approval times.

Niko was co-founded by Sertorio and Edoardo Dellepiane, former executives at CloudKitchen.

Source: TechCrunch

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