Nigerian startup Koolboks is transforming access to refrigeration for communities and small businesses by providing affordable, energy-efficient, and solar-powered cooling solutions.
Founded in 2018, the company is on a mission to bridge the gap in refrigeration access for off-grid communities and small and medium-sized enterprises (SMEs). By leveraging solar technology, Koolboks has developed cost-effective refrigerators that run on a flexible lease-to-own model, using pay-as-you-go (PAYG) technology. This eliminates the need for hefty upfront payments, making refrigeration more accessible to businesses and households.
Beyond cooling, Koolboks’ units also offer USB charging and lighting features, helping to address multiple challenges faced by SMEs and underserved 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,” said Ayoola Dominic, co-founder and CEO of Koolboks.
Since launching, the company has sold over 7,500 solar-powered refrigerators across 21 countries, significantly improving food security and business operations. Expanding beyond Nigeria, Koolboks entered Kenya in 2022 and Uganda in 2023, reinforcing its footprint in Africa’s renewable energy sector.
“Our B2B model in key African markets provides direct access to our products, while IoT integration enables real-time monitoring and preventative maintenance,” Dominic added.
The lack of electricity remains a pressing issue in sub-Saharan Africa, with over 600 million people affected. As a result, nearly 40% of food goes to waste annually. In commercial hubs like Ijora in Lagos and Lake Victoria in Kenya, traders spend up to $4 per day on fuel or ice just to preserve perishable goods. While solar-powered refrigeration presents a sustainable solution, affordability and access to financing have been major barriers—ones that Koolboks is working to eliminate.
To further break these barriers, the startup introduced KoolBuy, a platform that integrates solar-powered refrigeration technology into existing freezers from brands like Hisense, LG, and Samsung.
Koolboks’ innovative approach has attracted investor confidence, securing $6.65 million in seed and Series A funding rounds, alongside $1.5 million in grant capital from the French Government to support the construction of an assembly facility in Nigeria. An additional $1.5 million in debt funding has been raised to fuel its expansion.
The company is also running pilot programmes with Guinness and Coca-Cola Nigeria, aiming to enhance distribution networks and improve cold storage solutions.
“As part of our expansion strategy, we are entering Mozambique and Ghana to provide sustainable cooling solutions, supporting local businesses and driving economic growth,” Dominic stated.
With its innovative technology and commitment to affordability, Koolboks is positioning itself as a game-changer in sustainable refrigeration across Africa.
