Baobab+
OperatingBaobab+ is a solar home systems social enterprise firm operating in West Africa and Madagascar.
- Consumer Services
- Lagos, Nigeria
- Convertible Note
- Founded 2015
- en.baobabplus.com ↗
- Total raised
- $12.3M
- disclosed
- Last round
- $5M
- Convertible Note
- Rounds
- 6
- since 2015
- Investors
- 5
- on record
- Employees
- 51-200
Baobab+ funding and investors
Baobab+ has raised $12.3M across 6 disclosed rounds. The latest is a $5M Convertible Note announced 22 Jan 2026.
- Lead investors
- 5
- Largest round
- $5M
- Average round
- $3.1M
- disclosed rounds
- Round cadence
- 12 mo
- average gap
- $3.9MDebt FinancingDebt Financing, $3.9M, $3.9M raised to date
- $1.9MDebt FinancingDebt Financing, $1.9M, $5.8M raised to date
- $1.5MGrantGrant, $1.5M, $7.3M raised to date
- $5MConvertible NoteConvertible Note, $5M, $12.3M raised to date
SLA Funding Index · grey is capital raised before each round · 2 undisclosed rounds not drawn
Baobab+ funding rounds6 · newest first
22 Jan 2026
- Grant$1.5M
13 Oct 2022 · led by United States Agency for International Development
- VentureUndisclosed
24 Sep 2021 · led by Norfund
- VentureUndisclosed
01 Apr 2021 · led by Triple Jump
- Debt Financing$1.9M
01 Apr 2021 · led by FEI-OGEF
- Debt Financing$3.9M
12 Feb 2021 · led by Lion’s Head Global Partners
| Announced | Round | Lead · other investors | Amount |
|---|---|---|---|
| 22 Jan 2026 | Convertible Note | FEI-OGEF | $5M |
| 13 Oct 2022 | Grant | United States Agency for International Development | $1.5M |
| 24 Sep 2021 | Venture | Norfund | Undisclosed |
| 01 Apr 2021 | Venture | Triple Jump | Undisclosed |
| 01 Apr 2021 | Debt Financing | FEI-OGEF · Triple Jump | $1.9M |
| 12 Feb 2021 | Debt Financing | Lion’s Head Global Partners · Triple Jump, FEI-OGEF | $3.9M |
Investors in Baobab+5 · leads first
| Investor | Role | Rounds | First |
|---|---|---|---|
| FEI-OGEF | Lead in 2 of 3 | Debt Financing, Convertible Note | Feb 2021 |
| Triple JumpVenture Capital | Lead in 1 of 3 | Debt Financing, Venture | Feb 2021 |
| Lion’s Head Global PartnersVenture Capital | Lead | Debt Financing | Feb 2021 |
| NorfundPrivate Equity | Lead | Venture | Sep 2021 |
| United States Agency for International DevelopmentImpact Investor | Lead | Grant | Oct 2022 |
Frequently asked about Baobab+
- How much funding has Baobab+ raised?
- Baobab+ has raised $12M across 6 disclosed rounds. Its latest, a $5M Convertible Note, was announced on Jan 22, 2026.
- Who has invested in Baobab+?
- Backers include FEI-OGEF, United States Agency for International Development, Norfund, Triple Jump and 1 other.
Profile updated Source: SLA Startup IndexHow we count →
