Stride Secures Series A Funding to Scale Solar Energy Solutions

Stride announced Monday that it has successfully raised Series A equity funding from new investor UOB Venture Management and existing backers Clime Capital and Touchstone Partners.

The fresh investment will enable Stride to expand its business operations and secure green financing from existing and new lenders. Stride’s platform integrates funding, technology, and quality assurance to facilitate the adoption of rooftop solar and battery energy storage systems among residential and small and medium-sized enterprises (SMEs) in Vietnam.

Stride has been experiencing rapid growth by collaborating with a vast network of solar installers and leveraging its proprietary digital platform to provide high-quality solar solutions.

Vietnam’s Ministry of Industry and Trade (MoIT) is currently revising the Power Development Plan VIII (PDP8), which aims to increase solar power capacity by over 25GW to reach 34GW by 2030. With solar expected to account for 45% of this new power capacity, Stride’s innovative platform is well-positioned to contribute to Vietnam’s clean energy transition.

Andrew Fairthorne, Co-founder and CEO of Stride expressed enthusiasm about the funding round, stating: “We are delighted to have attracted a further round of equity investment to fuel Stride’s growth. This will help Vietnam move toward achieving its climate goals by enabling more households and small businesses to access cost-efficient green energy.”

Vanshika Khemka, Investment Manager at Clime Capital, emphasized the impact of Stride’s success in clean energy financing: “Stride’s success demonstrates the effectiveness of deploying early-stage risk capital into promising clean energy companies.”

Clarissa Loh, Executive Director at UOB Venture Management, highlighted Stride’s role in Vietnam’s energy transition: “With its unique position supporting micro businesses transitioning to solar energy, Stride is contributing to the clean energy transition in one of the most climate-vulnerable regions.”

Since its inception in 2021, Stride has rapidly grown into a leading provider of financed clean energy solutions in Vietnam. The company secured seed-stage equity capital from Clime Capital via SEACEF I and Touchstone Partners in May 2023. In 2024, Stride arranged debt financing from Sweden-based Trine, an investment platform focused on solar energy in emerging markets.

Clime Capital’s latest investment comes via its SEACEF II fund, further supporting Stride’s mission to scale affordable solar energy adoption across Vietnam.