SteamaCo provides mini-grid hardware and software to energy companies in emerging markets.
SteamaCo is an energy technology business headquartered in Manchester and led by CEO Harrison Leif. Founded in 2012, it provides hardware and software, in the form of energy meters and a SaaS platform, to utility providers in emerging markets and low-connectivity environments.
Energy providers in remote locations need a reliable and cost-effective way to capture revenues, reconcile bills and operate efficiently. SteamaCo’s low cost, IoT platform increases efficiency for energy companies by increasing billing accuracy and allowing for real-time monitoring of energy usage.
We co-led SteamaCo’s Series B round, alongside Shell Ventures, as we were impressed by the traction shown by the business so far, and we recognise their global ambition. Renewable mini-grid infrastructure is expanding significantly in developing countries and SteamaCo has demonstrated attractive forecasts and an enviable business model.
We see strong opportunities for growth in the business and will provide support to the management team as they intensify efforts to scale.