Vietnam-based solar energy company Stride has raised a Series A equity investment backed by Clime Capital, Touchstone Partners, and new investor UOB Venture Management. This follows the company’s $3 million debt financing deal last year with Swedish solar investment platform Trine. The fresh funding will support Stride’s expansion efforts and help secure additional green financing from both existing and new lenders.
The funding round was co-led by Clime Capital, a Singapore-based fund manager focused on Southeast Asia’s low-carbon transition, and UOB Venture Management, which invested through its social impact fund. Touchstone Partners, a Vietnam-focused investor, also participated.
Stride specializes in providing affordable clean energy solutions to residential and small business customers in Vietnam, supporting the country’s growing rooftop solar market.
Its latest funding round will enable the company to expand its operations and secure additional green financing. The firm provides a comprehensive platform that integrates financing, technology, and quality assurance, making it easier for homeowners and small businesses in Vietnam to adopt rooftop solar and battery energy storage systems. By working with a vast network of solar installers and leveraging its proprietary digital platform, Stride ensures high-quality installations for its customers.
Vietnam’s energy sector is undergoing a transformation as the Ministry of Industry and Trade (MoIT) updates its Power Development Plan VIII (PDP8). The revised plan aims to increase the country’s solar capacity from over 25GW to 34GW by 2030, with solar energy making up approximately 45% of the additional power supply. Stride’s approach is expected to play a key role in accelerating this transition, making solar adoption more accessible to residential and SME customers.
Co-founder and CEO Andrew Fairthorne emphasized that this investment will drive Stride’s growth and support Vietnam’s climate objectives by providing affordable clean energy solutions.
Vanshika Khemka, Investment Manager at Clime Capital, highlighted that Stride’s success validates the impact of early-stage risk capital in advancing clean energy ventures. She noted that as portfolio companies achieve key growth milestones, further equity investments help accelerate their progress.
Clarissa Loh, Executive Director at UOB Venture Management, pointed out that Stride’s focus on helping micro-businesses transition to solar energy is crucial, particularly as Vietnam remains highly vulnerable to climate change. She emphasized that the new funding will allow Stride to scale its solutions, creating significant environmental and social benefits across the ASEAN region.
Stride, founded in 2021, has quickly grown into a key player in Vietnam’s clean energy sector, offering financed solar solutions to households and small businesses. In May 2023, the company secured seed funding from Clime’s SEACEF I fund and Touchstone Partners, reinforcing its commitment to expanding access to renewable energy.
In 2024, Stride secured debt financing from Sweden-based Trine, which funds solar ventures in emerging markets. The company also received fresh investment from Clime’s SEACEF II fund.
Source: AsiaTechDaily
