South African electrotech company Plentify has concluded an oversubscribed series-A funding round, bringing its total capital raised to date to nearly US$15-million (R256-million).
Plentify uses AI-powered hardware and software to connect home appliances to cheaper, cleaner energy. It said on Monday that the round was led by Secha Capital, Buffet Investments and a South African family office, with participation from existing investors E3 Capital and Fireball Capital. New backers were Endeavor South Africa’s Harvest Fund and Satgana.
“This round reflects both the confidence of our long-term supporters and the belief of new partners who share our vision,” Plentify CEO and co-founder Jon Kornik said in a statement.
Plentify co-founder and chief growth officer Kailas Nair said South Africa is the ideal testing ground for scalable, subsidy-free innovation. He said load shedding and rising electricity tariffs created a rooftop solar boom among middle income households, at penetration levels similar to advanced markets. But there are no subsidies or feed-in tariffs.
“That forced us to make load management work from day one. Now, as other markets reduce or remove solar subsidies, we have the technology and know-how to help them do the same.”
The company is preparing pilot projects in the UK, Australia and Brazil. In South Africa, its AI-powered home-energy management solution is being deployed by Balwin Properties, which builds sectional title apartments in large-scale, lifestyle estates.
Savings
Conlog, South Africa’s largest metering company, uses Plentify’s load management solution to help municipalities cut costs and improve service delivery. And Wetility, a solar technology company, integrates Plentify’s platform to deliver residential solar systems.
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“To date, this smart network has saved 9.9GWh of electricity and helped South African households save more than R40-million on their energy bills,” said Kornik.
The value of the series-A round was not disclosed. –© 2025 NewsCentral Media
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