Manchester startup Brighter World Energy secures £85k from Co Angel Investment

Co Angel Investment has given Manchester startup Brighter World Energy a five-figure boost.

Brighter World will use the £85k funding to drive its digital marketing strategy and develop IT infrastructure that utilises ‘smart’ metering, solar generation and mobile payments to develop microgrids.

The firm is partnered with not-for-profit electricity supplier Robin Hood Energy to provide energy at prices that are, on average, £200 less per year than the main providers.

For every 2,000 customers who make the change to Brighter World, the social enterprise will install a microgrid supplying electricity to some of the world’s most remote villages, starting in Kenya.

The five-figure boost from Co Angel, a support service backed by the Greater Manchester Combined Authority (GMCA), closed a £500k round of investment that included support from a number of high-profile investors.

Brighter World was founded by former editor Cheryl Latham and is chaired by Owen O’Donnell, the ex-financial director of Ovo Energy.

CEO Cheryl Latham said: “We are delighted to launch Brighter World with the support of our investors, who share our belief that putting positively life-changing power in the hands of UK consumers, and addressing global challenges with a fair and transparent business model, is the right way to do business.

“We knew that there was a better way to do business and our customers are genuinely attracted by an opportunity, not only to save money, but to use what has been traditionally a grudge purchase to really help other communities and families.”

She continued: “With more than a billion unconnected people around the world, making a simple switch here at home will turn on the lights for villages in Africa for the very first time. Everyone should have the same right to access energy, no matter where they are born.”

Co Angel investment director Akshay Bhatnagar commented: “Brighter World Energy is exactly the kind of forward thinking, talented and growth focussed business that we are proud to support and develop in Manchester.

“Securing early stage equity can be a stumbling block for many new companies so the fact that we were able to bring investors into the syndicate for Brighter World Energy in under two weeks speaks volumes about just how exciting a prospect their business model is.”