Innovex secures nearly $380,000 in grants and a $22,000 loan to scale operations
Backing from the International Trade Centre's Netherlands Trust Fund IV and other partners will help Innovex grow its electronics manufacturing footprint and the REMOT platform.
Innovex has closed a financing round that combines roughly $380,000 in grant capital with a $22,000 working-capital loan. A significant portion of the grant funding comes through the International Trade Centre's Netherlands Trust Fund IV programme, with additional support from partners backing clean-energy and youth-led ventures in East Africa.
What the funding unlocks
The capital will be put to work in three priority areas:
- Manufacturing capacity. Expanding our SMT and plastics line in Kampala so we can ship more REMOT gateways, controllers and partner OEM products.
- Product development. Faster iteration on next-generation REMOT firmware, new sensor packs, and integrations with leading solar OEMs.
- Market reach. Sales, support and field-engineering presence across more countries so customers feel local even when our HQ is not.
Why this is significant
Hardware companies in Africa face a financing pattern that often skips the "build the factory" step — most capital is willing to fund pilots, less is willing to fund the unglamorous work of repeatable manufacturing. Blended support like this is exactly what closes the gap between a great prototype and a product you can buy in a hundred countries.
We're grateful to every partner who has bet on local production. There's a lot more to build.