Cape Town-based startup Open Access Energy (OAE) has secured $1.8 million (R32.3 million) in seed funding to expand its AI-powered platform for electricity trading.
Backed by climate-tech investors E3 Capital, Equator VC and Factor E Ventures, the funding will accelerate the rollout of OAE’s flagship software, EnergyPro—a cloud-based platform that enables energy wheeling, which routes electricity from decentralized renewable sources to end users via existing grid infrastructure.
Founded in 2021, OAE aims to address South Africa’s power reliability challenges and support its transition from coal to cleaner energy. EnergyPro automates metering, forecasting and risk management to match generation and consumption in real time.
“Open Access Energy has built a software-led solution for a real-world problem,” said Andrew Darge of E3 Capital. “It supports municipal wheeling, embedded generation and transparent settlement at scale—critical for Africa’s clean energy future.”
Morgan DeFoort, partner at Equator VC, said the company is laying the foundation for private clean power distribution in South Africa. “We’re backing a team with the technical capability and market understanding to build long-term impact.”
CEO Gerjo Hoffman said the funding will help scale the tools independent power producers and traders need to thrive in a liberalized market. Board chairman James Irons added that the company will soon seek a local investment partner to support further growth.
