South African electrotech startup Plentify has closed an oversubscribed Series A funding round, bringing its total capital raised to date to nearly $15m (R256m).
The company, which specialises in AI-powered home energy management, plans to use the fresh capital to expand beyond its home market, where a volatile energy grid has provided a unique testing ground for demand-side flexibility.
The funding
The latest round was led by Secha Capital, Buffet Investments, and a South African family office.
Existing investors E3 Capital and Fireball Capital participated in the round, alongside new backers Satgana and Endeavor South Africa’s Harvest Fund. While Plentify did not disclose the specific valuation or the exact size of this tranche, the cumulative funding figure suggests a significant injection of growth capital.
This follows a seed extension round closed in mid 2024, which saw backing from Third Sphere and the TELUS Pollinator Fund for Good.
What Plentify does
Founded in 2017 by Jon Kornik and Kailas Nair, Plentify addresses the mismatch between energy demand and supply. Rather than focusing solely on generation (solar panels) or storage (batteries), Plentify focuses on intelligent load management.
Its flagship hardware product, HotBot, connects to electric water heaters (geysers) — which are notoriously energy-intensive in South African homes. The device uses AI to heat water at optimal times, such as when renewable energy is abundant on the grid or when tariffs are low, while ensuring hot water is available when needed.
By aggregating thousands of these devices, Plentify creates a “virtual power plant” (VPP). This network can shift energy usage away from peak demand times, mitigating strain on the grid.
“The fundamental problem is the mismatch between the timing of energy demand and clean energy supply,” says CEO Jon Kornik. “Plentify’s residential load management platform addresses this problem for 75% less than the cost of batteries.”
The ‘Sandbox’ effect
Plentify’s technology has been shaped by the specifics of the South African market, which has suffered from chronic “load shedding” (rolling blackouts) and rising electricity tariffs.
Unlike many European markets, South Africa lacks feed-in tariffs or significant state subsidies for residential solar. According to co-founder Kailas Nair, this environment forced the company to develop a business model that worked without government incentives.
“That forced us to make load management work from day one,” Nair says. “Now, as other markets reduce or remove solar subsidies, we have the technology and know-how to help them do the same.”
The company claims its network has saved 9.9GWh of electricity to date and reduced South African household energy bills by over R40m.
Commercial strategy and expansion
Plentify currently operates through B2B2C partnerships. In South Africa, it has integrated its technology with:
- Balwin Properties: A major developer using the tech in large-scale lifestyle estates.
- Wetility: A solar fintech company that bundles Plentify’s management platform with residential solar systems.
- Conlog: The country’s largest metering company, which uses the solution to help municipalities manage load and cut costs.
With the Series A secured, Plentify is preparing pilot projects in the UK, Australia, and Brazil.
The logic is that as solar penetration increases in these markets and grid stability becomes a concern, the need for demand-side flexibility — managing when energy is used rather than just how much — will grow.
“Plentify’s technology has great potential not only in South Africa but in any market with an established or growing residential solar market,” says Paula Mokwena, CEO of Fireball Capital. “This global potential underpins our investment thesis.”
At a glance: Plentify
- Founded: 2017
- HQ: Cape Town, South Africa
- Sector: Climate Tech / Energy Management
- Total Funding: ~$15m
- Key Investors: Secha Capital, E3 Capital, Third Sphere, Fireball Capital.
- Core Product: HotBot (Smart geyser controller)