PowerLab Secures Funding to Enhance Nigeria's Energy System

PowerLab, co-founded by Tobechukwu Arinz, has successfully raised pre-seed funding to tackle Nigeria's fragmented and unreliable electricity system. The funding round, led by Breega and supported by Catalyst Fund and Merci Corp Ventures, aims to develop an artificial intelligence-enabled platform that will enhance energy management across commercial and industrial sectors in Nigeria.

The company plans to leverage this investment to expand into the West African market, addressing the persistent challenges of grid instability and the reliance on costly diesel generators and solar systems. Nigeria's manufacturing sector alone has spent N1.11 trillion on alternative energy sources in 2024, marking a 42% increase from the previous year.

PowerLab's platform will provide real-time monitoring and management of energy consumption, helping businesses operate more efficiently and reduce costs. The company intends to deploy its platform and enhance its predictive load management algorithms over the next 12 to 18 months, aiming to improve energy reliability across critical sectors.