Frankfurt and Berlin (Germany), January 2021. GreenTec Capital Partners is very happy to report that Boreal Light GmbH has successfully closed an Investment round raising USD $7,500,000. The investment was made in partnership with a US based family office affiliate, represented by Mr. Lane Pitcairn Pendleton, specialized in global wealth management investments.
Boreal Light’s co-founders Ali Al-Hakim, and Dr. Hamed Beheshti met with with Mr. Lane Pitcairn Pendleton and GreenTec CFO Thomas Festerling in Berlin to conclude the round and to discuss the next strategic steps for the future growth of Boreal in Africa and beyond.
The investment marks “the dawn of Boreal Light’s scaleup phase!” says Hamed Beheshti, Boreal Light co-founder and CEO. Following 6 years of hard work, the company is ideally poised for scale up, having established a network of retail WaterKiosks in Kenya, as well as delivering projects in Yemen, Somaliland, and Uganda. The company has also established a presence in South Africa with a local office and projects already completed and plans to expand in the SADC.
We are very proud to see Boreal Light attract significant funding to support the expansion of their innovative and impactful business.