Mitsubishi has led the $50 million Series D funding of the off-grid utility BBOXX.
The company provides pay-as-you-go (PAYG) power in parts of the world that remain off the grid using home solar systems and a proprietary billing system.
Many people living beyond the reach of the power grid are more likely to have a mobile phone than a traditional bank account opening the door for BBOXX, and others, to take advantage of mobile banking and billing.
The latest round of investment, which includes a “substantial” chunk from Mitsubishi Corporation, will be used to back BBOXX’s growth.
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