In a significant boost to Nigeria’s clean energy landscape, Madica, a prominent investment initiative, has announced its financial backing of Earthbond, a groundbreaking climate technology enterprise. Earthbond’s innovative platform connects small and medium-sized enterprises (SMEs) with affordable solar energy solutions, financing options, and certified installation professionals.
This strategic investment is poised to catalyze Earthbond’s growth, enabling the startup to expand its services and scale up operations. With ambitious goals to facilitate $10 million in specialized loans and introduce carbon credit discounts, Earthbond is set to revolutionize Nigeria’s $14 billion off-grid generator market.
Founded by Harvard MBA alumnus Chidalu Onyenso, Earthbond addresses the financial and environmental burdens imposed by reliance on generators. Madica’s Head, Emmanuel Adegboye, believes Earthbond’s vision and approach will shape Africa’s clean energy trajectory.
Madica’s investment program offers up to $200,000 in funding, mentorship, and global network connections. Earthbond’s partnership with Madica promises substantial resources for expansion and sustainability.
In Nigeria, where unreliable power grids compel businesses to spend $29 billion annually on generators, Earthbond offers a viable alternative. By providing solar financing solutions and curated equipment providers, Earthbond bridges the affordability gap for SMEs.
With over 1,800 SMEs on its waitlist, Earthbond has already conducted audits for 100 clients and established partnerships with four banks. Founder Chidalu Onyenso hailed Madica’s investment as a watershed moment, confident that Earthbond will spearhead Nigeria’s energy transition.
Madica is a 12-18 month structured investment program for African startups – especially those that receive a disproportionately small share of venture funding, such as those led by women or by local founders or those that operate outside well-established tech hubs.
