Amped Innovation
Distributed solar power
Overview
Raised: $180,565
Total Commitments ($USD)
Republic
10/04/2022
01/31/2023
$100
SAFE
Series A
RegCF
$35,000,000
0%
Rolling Commitments ($USD)
02/05/2023
$1,517
313
2016
Energy, Power, & Natural Resources
Cleantech
B2B2C
Medium
High
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$2,765,326 |
$2,907,229 |
|
COGS |
$2,063,088 |
$1,917,747 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,239,842 |
$-720,286 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$1,524,237 |
$2,071,146 |
|
Accounts Receivable |
$1,266,912 |
$443,635 |
|
Total Assets |
$4,729,597 |
$3,677,047 |
|
Short-Term Debt |
$3,124,777 |
$832,385 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$3,124,777 |
$832,385 |
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Analyst Report
When applied to developing countries, American know-how often devolves into American know-it-all. And when that happens, everything unsurprisingly goes south.
To be effective, American know-how needs to be sprinkled with large helpings of humility and patience. Unfortunately, these qualities are in short supply among American companies doing business in developing countries.
Amped Innovation is the exception to this rule. It has spent the last seven years in the trenches in Africa — not only selling products but also learning about local needs and frustrations. It took a while, but as a result, the startup was able to create the perfect kits of solar and battery systems for emerging countries.
Founder Profile
Amped Innovation Co-Founder Andi Kleissner on Solar Power for Emerging Markets
Americans are used to having a constant flow of electricity sustaining their appliances, lights, devices, and more. Here, power outages of a few hours can upend a whole day’s plans. But in some countries, inconsistent electricity is a fact of life. South Africa, for example, is no stranger to blackouts and frequently counters them with power cuts.Amped Innovation combats unreliable grids in such countries with affordable, clean solar products that can endure heat, dust, and some water. Its WOWsolar Hub can power a home or business, and customers can monitor and optimize usage with a mobile app. Amped Innovation also offers solar light and TV products. We reached out to co-founder and co-CEO Andi Kleissner to learn more about how Amped Innovation’s products cater to its target market and what she’s learned from her experience at the company.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.