I-G3N, a South African energy startup that develops lithium-ion batteries, has raised US$1.3-million through equity participation from Edge Growth and the ASISA ESD initiative. I-G3N is an innovative energy solutions company that supports large scale adoption of clean energy technologies by supplying energy storage units through battery technology. The company was established in 2018 with women as part of the ownership structure of the company.
Edge Growth has since its inception in 2007, provided small-to-medium-enterprises with on-going business development support they need to unlock value and maximise their growth, profitability and capacity to create jobs. Each Enterprise and Supplier Development (ESD) fund is governed by an experienced board of trustees, professional investment committee and a specialist fund manager to ensure strategic, legal, financial and operational governance.
The ASISA ESD initiative invests in enterprises with high growth potential, supply chain alignment, differentiated competitive advantage and the strategic business fundamentals required to succeed. The fund provides equity, debt or combined structured deals of between R1m and R30m to support businesses requiring expansion capital to grow and create jobs and social impact. Investors include blue chip companies such as AllanGray, MMI Holdings, Old Mutual, Prudential, Sanlam, Outsurance, Swiss Re, Munich Re and Ninety One among many others.