About Baobab +
Baobab + is a company based in Senegal founded in 2015 by Alexandre Coster was acquired by BioLite in May 2025.. Baobab + has raised $14.07 million across 4 funding rounds from investors including BioLite, Norfund and All On. Baobab + offers products and services including Solar Products, Digital Products, and Improved Stoves. Baobab + operates in a competitive market with competitors including Amberflo, British Gas, BioLite, Arcadia and Fathom, among others.
- Headquarter Senegal
- Founders Alexandre Coster
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Sectors
Energy & UtilitiesTechnology
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Email
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Phone
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Website
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Social
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Products & Services of Baobab +
Baobab + offers a comprehensive portfolio of products and services, including Solar Products, Digital Products, and Improved Stoves. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides clean and reliable energy for households and businesses.
Offers smartphones and tools for digital inclusion and business growth.
Reduces smoke emissions and promotes efficient cooking for daily use.
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Funding Insights of Baobab +
Baobab + has successfully raised a total of $14.07M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $2.25 million completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $2.2M
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First Round
First Round
(02 Apr 2021)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2024 | Amount | Debt – Conventional - Baobab + | Valuation |
investors |
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| Jul, 2022 | Amount | Debt – Conventional - Baobab + | Valuation |
investors |
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| Sep, 2021 | Amount | Series A - Baobab + | Valuation | Norfund |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Baobab +
Baobab + has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include BioLite, Norfund and All On. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Impact investing is managed through private equity by Symbiotics Group.
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Founded Year | Domain | Location | |
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It invests in developing countries to create jobs and improve lives
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Founded Year | Domain | Location | |
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Investment management firm and venture capital fund focused on multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Baobab +
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Baobab
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Baobab + Comparisons
Competitors of Baobab +
Baobab + operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Amberflo, British Gas, BioLite, Arcadia and Fathom, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based invoicing and billing solution for businesses
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| domain | founded_year | HQ Location |
Provider of natural gas exploration and processing sevices
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| domain | founded_year | HQ Location |
Energy generation from wooden biomass, powerbank and solar kit
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| domain | founded_year | HQ Location |
Arcadia is focused on providing clean energy solutions through data platforms.
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| domain | founded_year | HQ Location |
AI-based software for medical coding and PHI de-identification is provided.
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| domain | founded_year | HQ Location |
Hybrid renewable energy solutions are provided for rural communities.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Baobab +
Frequently Asked Questions about Baobab +
When was Baobab + founded?
Baobab + was founded in 2015 and raised its 1st funding round 6 years after it was founded.
Where is Baobab + located?
Baobab + is headquartered in Senegal.
Who is the current CEO of Baobab +?
Alexandre Coster is the current CEO of Baobab +. They have also founded this company.
Is Baobab + a funded company?
Baobab + is a funded company, having raised a total of $14.07M across 4 funding rounds to date. The company's 1st funding round was a Series A of $11.72M, raised on Apr 02, 2021.
What does Baobab + do?
Baobab was founded in 2015 in Senegal as a fintech provider specializing in agent-based payment solutions. Operations focus on facilitating bill payments, money transfers, cash withdrawals, and loans through a network of agents. Small-scale businesses are supported for consumers in rural areas. Solar lights are also supplied to schools in underserved regions, enhancing access to essential services.
Who are the top competitors of Baobab +?
Baobab +'s top competitors include Husk Power Systems, BioLite and Arcadia.
What products or services does Baobab + offer?
Baobab + offers Solar Products, Digital Products, and Improved Stoves.
Who are Baobab +'s investors?
Baobab + has 5 investors. Key investors include BioLite, Norfund, All On, Symbiotics Group, and Triple Jump.
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