Nigerian startup Koolboks is working on empowering communities and small and medium-sized enterprises (SMEs) by providing innovative, affordable, and energy-efficient cooling solutions.
Founded in 2018, Koolboks is committed to sustainable, affordable, and energy-efficient refrigeration solutions for off-grid communities. The company designs and builds solar-powered refrigerators, which operate on a flexible lease-to-own model using pay-as-you-go (PAYG) technology, eliminating the need for substantial upfront costs.
Additionally, its units offer USB charging and lighting, addressing multiple challenges faced by small businesses and off-grid communities.
“Our mission is to address the critical need for reliable refrigeration, enabling businesses to preserve perishable goods, reduce food waste, and improve access to essential services,” co-founder and CEO Ayoola Dominic told Disrupt Africa.
Since inception, Koolboks has sold over 7,500 solar-powered refrigerators, impacting food security and business efficiency across 21 countries. In 2022, it expanded operations to Kenya, followed by Uganda in 2023.
“Our B2B model in key African markets provides direct access to our products, while IoT integration enables real-time monitoring and preventative maintenance,” Dominic said.
Over 600 million people in Sub-Saharan Africa lack access to electricity, leading to 40 per cent of food being wasted annually. In markets like Ijora in Lagos and Lake Victoria in Kenya, traders spend up to US$4 per day on fuel or ice to preserve perishable goods.
“While solar refrigeration offers a solution, high costs and limited access to financing remain barriers,” Dominic said.
Koolboks’ business model lowers these barriers, while another major innovation is KoolBuy, a platform that solarises and integrates refrigeration-locking technology into freezers from brands like Hisense, LG, and Samsung.
The startup has raised a total of US$6.65 million across seed and Series A equity funding rounds, and also secured US$1.5 million in grant capital from the French Government to support the construction of an assembly facility in Nigeria. Another US$1.5 million has been raised in debt, while Koolboks also has pilot programmes underway with Guinness and Coca-Cola Nigeria to enhance distribution networks.
“As part of our expansion strategy, we are entering Mozambique and Ghana to provide sustainable cooling solutions, supporting local businesses and economic growth,” Dominic said.
