About KarmSolar
KarmSolar is a company based in Cairo (Egypt) founded in 2011 by Mohamed Alansari, Yumna Madi, Ahmed Zahran, Xavier Auclair, Randa Fahmy, and Tamer Essawy.. KarmSolar has raised $25 million across 3 funding rounds from investors including HSBC, EDF Renewable Energy and QNB ALAHLI. KarmSolar offers products and services including Micro-grids, KarmWater, KarmCharge, and KarmBuild. KarmSolar operates in a competitive market with competitors including Infinity, SolarizEgypt, Onasolar, ICM Solar Group and Future Energy Corp, among others.
- Headquarter Cairo, Egypt
- Founders Mohamed Alansari, Yumna Madi, Ahmed Zahran, Xavier Auclair, Randa Fahmy, Tamer Essawy
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$25 M (USD)
in 3 rounds
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Latest Funding Round
$3.02 M (USD), Debt – Conventional
Jan 10, 2023
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Investors
HSBC
& 2 more
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Employee Count
Employee Count
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Products & Services of KarmSolar
KarmSolar offers a comprehensive portfolio of products and services, including Micro-grids, KarmWater, KarmCharge, and KarmBuild. 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.
Delivers reliable off-grid electricity using solar and batteries.
Provides solar-powered desalination for sustainable water access.
Offers EV charging infrastructure integrated with solar networks.
Delivers sustainable construction for energy and water projects.
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Human Resources and Administration
2 people
Leadership Team
1 people
Partner Team
1 people
Operations Team
1 people
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Funding Insights of KarmSolar
KarmSolar has successfully raised a total of $25M across 3 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $3.02 million completed in January 2023. 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 3
- Last Round Debt – Conventional — $3.0M
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First Round
First Round
(25 Nov 2019)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jan, 2023 | Amount | Debt – Conventional - KarmSolar | Valuation |
investors |
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| Aug, 2022 | Amount | Debt – Conventional - KarmSolar | Valuation |
investors |
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| Nov, 2019 | Amount | Series B - KarmSolar | Valuation | EDF Renewable Energy |
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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 KarmSolar
KarmSolar has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include HSBC, EDF Renewable Energy and QNB ALAHLI. 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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Universal banking and financial advisory services are provided globally.
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Provides fund and financial management services for clients.
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Founded Year | Domain | Location | |
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Solar and wind energy projects are developed and operated.
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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 KarmSolar
| 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 - KarmSolar
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
Karmsolar Comparisons
Competitors of KarmSolar
KarmSolar 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 Infinity, SolarizEgypt, Onasolar, ICM Solar Group and Future Energy Corp, 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 |
Solar energy projects are developed in the renewable sector.
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Unlocking Egypt's unrealized solar potential
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| domain | founded_year | HQ Location |
Offers turnkey solar solutions for efficient energy needs.
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| domain | founded_year | HQ Location |
Provides comprehensive solar panel installation services for residential and commercial clients.
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| domain | founded_year | HQ Location |
Develops advanced energy solutions, renewable infrastructure for global markets and projects.
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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 Karmsolar
Frequently Asked Questions about KarmSolar
When was KarmSolar founded?
KarmSolar was founded in 2011 and raised its 1st funding round 8 years after it was founded.
Where is KarmSolar located?
KarmSolar is headquartered in Cairo, Egypt.
Who is the current CEO of KarmSolar?
Ahmed Zahran is the current CEO of KarmSolar. They have also founded this company.
Is KarmSolar a funded company?
KarmSolar is a funded company, having raised a total of $25M across 3 funding rounds to date. The company's 1st funding round was a Series B of $25M, raised on Nov 25, 2019.
What does KarmSolar do?
Founded in 2011 and based in Cairo, Egypt, solar technology solutions are offered by KarmSolar to agricultural, industrial, tourism, and other sectors. Solar pumping systems for irrigation are supplied, along with island grid fuel saver systems that enable solar PV integration into diesel grids. Energy management services for existing infrastructure are provided, complemented by user interface software for monitoring and control.
Who are the top competitors of KarmSolar?
KarmSolar's top competitors include Infinity, SolarizEgypt and Onasolar.
What products or services does KarmSolar offer?
KarmSolar offers Micro-grids, KarmWater, KarmCharge, and KarmBuild.
Who are KarmSolar's investors?
KarmSolar has 3 investors. Key investors include HSBC, EDF Renewable Energy, and QNB ALAHLI.