Companies · Climate / Cleantech

WATT

Africa · Climate / Cleantech

Diligence memoA one-page analyst read on WATT — recommendation, valuation, rhythm, risks.
$13.0M
Total raised · real
1
Rounds
Latest step-up
Top 22%
Sector rank · raised
Series A
Latest stage · inferred · Thu Oct 05 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

WATT looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.31× the median modeled value of Series A Climate / Cleantech companies in 2022–2024 (15 peers) — value vs value, same stage and era.
  • Within the normal band (131% of peer median) for its niche.
At-risk
  • Last raise 2.7 yr ago; this sector typically re-raises about every 9 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Where it sits in Climate / Cleantech

WATT is one of 207 Climate / Cleantech companies tracked from Africa. By capital raised it ranks in the upper tier (ahead of 79% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

Nigerian company WATT Renewable Corporation (WATT), an independently-owned provider of hybrid solar solutions, has secured US$13 million in funding to catalyse its efforts in advancing renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria.

Nigerian company WATT Renewable Corporation (WATT), an independently-owned provider of hybrid solar solutions, has secured US$13 million in funding to catalyse its efforts in advancing renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria.

climate/cleantech

As reported in public records reported — not modeled.

NG
Jurisdiction
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeries A · 2023-10-05 Raised $13M (real) Modeled valuation $84M (est)$13M$84MSeries A2023

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$13.0M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$83.9M
Base estimate est.
$16.3M
Conservative case
$215.2M
Upside case
$59.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
51%
Survival probability
28% low · 69% high
1.46×/yr
Annual markup
1.84×/yr upside case
2.7 yr
Elapsed time used
2.7 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
2.7 yr
On record since
2023
First round
1
Rounds on file
How it compares to the market

Benchmarked against 207 companies in Climate / Cleantech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 1.6× above median
This company$13.0M
Sector median$8.1M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.7× above median
This company$13.0M
Sector median$7.5M
Modeled value — vs sector median (estimate, all stages) 1.4× above median
This company$83.9M
Sector median$59.7M

Raised more than 79% of sector peers (real $). Modeled value above 76% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #3 of 15.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Trion Battery Technologies Inc. · Series A Raised $11.1M · modeled $125.3M (est)Climate Club Holdings Pbc · Series A Raised $9.6M · modeled $95.8M (est)Climate Action Reserve LLC · Series A Raised $8.8M · modeled $82.4M (est)Wren Climate, PBC · Series A Raised $6.6M · modeled $81.2M (est)GreenCharge · Series A Raised $15.0M · modeled $78.3M (est)ES Solar Holdings, LLC · Series A Raised $9.7M · modeled $70.1M (est)Prieto Battery, Inc. · Series A Raised $31.8M · modeled $63.9M (est)SoundBoks, Inc. · Series A Raised $8.6M · modeled $63.0M (est)Smart Green Solar Inc. · Series A Raised $10.0M · modeled $56.5M (est)Trillium Renewable Chemicals, Inc. · Series A Raised $18.3M · modeled $47.8M (est)autarc Inc. · Series A Raised $8.8M · modeled $36.4M (est)WATT (this company) Raised $13.0M · modeled $83.9M (est)WATT
CompanyStageRaised · realValue · estvs peer med.
Trion Battery Technologies Inc.Series A$11.1M$125.3M1.96×
Climate Club Holdings PbcSeries A$9.6M$95.8M1.50×
WATT this companySeries A$13.0M$83.9M1.31×
Climate Action Reserve LLCSeries A$8.8M$82.4M1.29×
Wren Climate, PBCSeries A$6.6M$81.2M1.27×
GreenChargeSeries A$15.0M$78.3M1.23×
ES Solar Holdings, LLCSeries A$9.7M$70.1M1.10×
Prieto Battery, Inc.Series A$31.8M$63.9M1.00×
SoundBoks, Inc.Series A$8.6M$63.0M0.99×
Smart Green Solar Inc.Series A$10.0M$56.5M0.88×
Trillium Renewable Chemicals, Inc.Series A$18.3M$47.8M0.75×
autarc Inc.Series A$8.8M$36.4M0.57×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$13.0M2023-10-05$59.1M$83.9M45%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$13.0M2023-10-05
    • First recorded raise — entered as Series A.
Intelligence
Modeled next raise
$20.8M
Modeled next size est.range $13.5M$33.3M
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Registry & provenance

WATT is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
NG
Jurisdiction
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
DodaiClimate / CleantechSeries A$13.0M$31.5Msame sector · same stage
FenixClimate / CleantechSeries A$12.6M$278.4Msame sector · same stage
SolarClimate / CleantechSeries A$12.4M$275.1Msame sector · same stage
SunCultureClimate / CleantechSeries A$14.0M$262.1Msame sector · same stage
GreenChargeClimate / CleantechSeries A$15.0M$78.3Msame sector · same stage
Trion Battery Technologies Inc.Climate / CleantechSeries A$11.1M$125.3Msame sector · same stage
Toledo Solar Holdings, Inc.Climate / CleantechSeries A$15.6M$12.6Msame sector · same stage
Heimdal Inc.Climate / CleantechSeries A$10.8M$141.0Msame sector · same stage
Frequently asked
How much funding has WATT raised?
WATT has raised approximately $13.0M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is WATT's estimated valuation?
Provath's modeled valuation for WATT is approximately $83.9M (modeled range $16.3M–$215.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is WATT at?
WATT's latest modeled financing stage is Series A. Its most recent recorded round closed around Thu Oct 05.
What does WATT do and where is it based?
WATT operates in the Climate / Cleantech sector, based in Africa. Nigerian company WATT Renewable Corporation (WATT), an independently-owned provider of hybrid solar solutions, has secured US$13 million in funding to catalyse its efforts in advancing renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria.
Explore related

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