EXPERTS KENYA Kenyan Bitcoin Mining Startup, Gridless Raises $2 Million In Seed Funding 2 months ago Samuel Post Views: 127 Gridless, a Kenyan bitcoin mining startup that provides new energy generation to rural areas in East Africa has received a $2 million funding for expansion. Gridless’ core aim is to serve the needs of energy producers in Africa by electrifying various parts of the continent and creating more affordable power for people in rural communities. Gridless uses bitcoin mining as a tool to facilitate growth in the sector and to further geographically distribute and secure the bitcoin network In collaboration with small-scale producers of renewable energy, Gridless designs, constructs, and manages bitcoin mining operations in rural parts of Africa where surplus energy is not being used. Gridless in its first year has contracted five project pilots in some rural parts of Kenya with HydroBox, an African hydroelectric energy company, three of which are currently operational. The company plans to expand to other geographies in East Africa in the near future. This expansion will be funded by the $2 million seed round of funding, led by Stillmark and Block, Inc., in addition to pre-seed round led by Factor[e], which is also participating in this round. CEO of Gridless, Erik Hersman, summarized the role of the firm in ensuring that several rural communities in Africa had access to affordable energy. “Africa needs affordable electricity. Our work in supporting renewable energy mini grid developers fills a gap, helping developers expand faster, be more sustainable, and serve thousands of households. This investment, and the high calibre of partners that are coming alongside us, means that we can accelerate our rollout knowing that we have both the capital and strategic support required.” With this funding, Gridless can successfully achieve its plan of expansion to new parts of East Africa. Source: technovagh.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: bitcoin mining, crypto, Kenya Continue Reading Previous Online fraudsters are on the prowl this festive seasonNext Judgment in Betway’s defamation suit against self-confessed problem gambler More Stories BETTING KENYA Ndungú’s stake in Sportpesa firm risks seizure without pay 13 hours ago Szarlot EXPERTS SENEGAL Why African fintechs will continue to trend 19 hours ago Samuel CASINO KENYA Illicit brew, counterfeit goods retrieved in a nationwide police crackdown 20 hours ago Samuel EXPERTS KENYA Gamblers Rejoice As Court Scraps Nairobi Law 4 days ago Samuel EXPERTS KENYA Court quashes betting tax, limit on gambling in 5-star hotels 5 days ago Szarlot KENYA ONLINE The State of Gaming and E-sport Space in Africa 6 days ago Samuel EXPERTS SOUTH AFRICA Only 2 Months at The BiG Africa Summit 2023! 7 days ago Iwo Bulski EXPERTS MALAWI How Will Malawi’s Economy Fare in 2023 7 days ago Samuel EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 7 days ago Szarlot EXPERTS WORLD NEWS What Will Be The Future of Sports Betting Around The World? 1 week ago Szarlot EXPERTS HOT NEWS TANZANIA Mobile Betting – How Popular is it in Africa? 1 week ago Szarlot EXPERTS RWANDA Adam Bradford launches centre to train youth in Rwanda 2 weeks ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.