How Bolide Secured Backing for An Unconventional Business Model

For many small to medium-sized enterprises (SMEs), securing funding means fitting into an existing mould: a retail business, a manufacturer, a service provider or a conventional growth opportunity. But what happens when a business challenges the way an entire sector operates? Bolide Group is an example of how thinking differently can open doors to funding.

Founded only in 2024, the business has developed an integrated utilities platform that brings together various services under one umbrella. Its model tackles several infrastructure challenges facing commercial property owners, particularly in township and peri-urban areas.

The unconventional approach has attracted investment from the Abadali Fund, part of the Abadali Equity Equivalent Investment Programme (EEIP), demonstrating that funding opportunities can extend beyond traditional SME business models.

For SMEs looking to secure funding, Bolide’s story offers an important lesson: sometimes the opportunity lies not in doing what everyone else is doing, but in identifying a problem others have overlooked and building a business around solving it.

What is Bolide?

Bolide is a 100% Black-owned, multi-utility infrastructure platform founded by Khudusela Pitje, who brings over 25 years’ experience in building and scaling utility and technology businesses. The platform works to consolidate fragmentation into a single managed utilities service.

The model works to address the barrier that keeps smaller commercial operators out of the market: not the technology, but the upfront capital cost, the technical expertise required to specify and maintain multiple systems, and the regulatory uncertainty around each. By bundling financing, installation and management, the platform lowers grid dependency and makes utility costs more predictable for businesses that have historically had limited access to reliable infrastructure services.

According to the company, more than 80% of the company’s project sites are in townships or peri-urban areas.

Identifying An Opportunity Where Others See a Problem

Commercial and township property owners in South Africa are not managing one infrastructure problem. They are managing four at once: unreliable grid supply, intermittent municipal water, inconsistent waste collection, and rising security costs. Each is typically contracted separately, monitored separately, and paid for separately.

Traditionally, these challenges are addressed separately. A business might contract one provider for solar installations, another for security, a third for waste collection and another for water infrastructure. Each service comes with its own costs, contracts, maintenance requirements and management responsibilities.
Bolide identified an opportunity in this fragmentation.

Instead of simply providing another solar solution or security service, the business developed a platform that consolidates multiple utility requirements into one managed offering. Its customers can access the infrastructure they need without having to procure, finance and maintain each component independently.

The model also addresses an important barrier to infrastructure investment among smaller commercial operators: the upfront capital required.

In South Africa, the upfront capital required for infrastructure is a crippling barrier for smaller commercial operators, effectively locking them out of critical growth and resilience upgrades.

Unlike larger market players who have access to deep cash reserves, smaller operators end up in a capital allocation trap. They must decide whether to inject their scarce working capital into core business activities or divert it toward massive, non-revenue-generating defensive infrastructure like commercial solar, battery arrays, and backup utilities just to keep their doors open.

Additionally, the initial investment, technical expertise and ongoing maintenance requirements can make these solutions difficult to implement.

By incorporating financing, installation and management into its offering, Bolide works to make these services more accessible while helping customers achieve more predictable utility costs and reduced dependence on traditional municipal and grid infrastructure.

An Unconventional Business Model With a Clear Market

The standout feature of Bolide’s business model is that it does not simply sell infrastructure equipment; it provides an integrated utility platform. Its utility solutions include:

• Smart Metering: Bolide has an AI-powered sub-metering solution which provides precise billing and consumption tracking across all utilities.
• Solar Infrastructure: Funded rooftop and carport solar installations with battery storage and grid-tie capability.
• Water Systems: Leak detection, rainwater harvesting, and AI-driven consumption optimisation.
• AI-Powered Security: Off-site multi-camera monitoring, analytics and response services through Bolide’s partners, including Vumacam.
• Connectivity: Fixed wireless, fibre connectivity for businesses and body corporates, IoT services and a unified data layer for utilities.
• Bolide Concierge: A single dashboard for all utilities with near real-time monitoring, reporting and AI functionality.

In addition to its platform, the model has a clear target market. With more than 80% of its project sites being in townships and peri-urban areas, Bolide is helping businesses that have limited access to affordable and reliable (integrated) infrastructure solutions.

By developing solutions that address these challenges, Bolide has positioned itself as a leader in a market that requires its unique services. For other SMEs, this is an important consideration when developing a business case for funding.

A business does not have to target the largest or most established market to be attractive to funders. The important thing is to be able to demonstrate that there is a genuine problem, a market willing to pay for a solution, and a business model capable of delivering it sustainably.

Securing Funding Through the Abadali Fund

Bolide’s innovative approach has helped it secure funding from the Abadali Fund, a Black Business Growth Fund which forms part of the Abadali Equity Equivalent Investment Programme (EEIP). The programme was established by the Department of Trade, Industry and Competition in partnership with J.P. Morgan and managed by Edge Growth Ventures.

The Abadali EEIP initiative consists of two programmes: the Abadali Fund, a Black Business Growth Fund and the Abadali Grant.

The fund supports Black-owned and majority-Black ventures with a strong focus on opportunities that contribute to economic development, including the green economy and township and rural markets.

Bolide’s business model aligns with several objectives of the EEIP. It is 100% Black-owned, operates in infrastructure and the green economy, and has the majority of its project sites in underserved areas.

Beyond meeting the requirements, Bolide received backing from the fund because it has developed a unique offering that seeks to address real infrastructure constraints while creating opportunities across several economic value chains.

Commenting on the investment, Hitesh Dullabh, Deal Lead at Edge Growth, describes Bolide as a high-impact, founder-led business that reflects the type of enterprise the Abadali Fund was established to support.

“The Bolide team has built a genuinely differentiated platform, combining solar energy, water, waste, and AI security into an integrated offering that directly addresses the infrastructure deficit in South Africa’s township and peri-urban commercial markets. This investment also delivers real, lasting employment and economic value for communities in South Africa that need it most, said Dullabh.

This capital backing is an important one for SMEs looking for funding: a compelling funding proposition can be built around the overlap of commercial viability and measurable impact.

What Other SMEs Can Learn From Bolide’s Funding Journey

The investment by the Abadali EEIP provides several useful lessons for entrepreneurs who may need funding and have unconventional business models.

• Look for problems that represent real business opportunities.
• Do not assume that your unconventional business model is unfundable.
• Clearly demonstrate the broader impact of your business.
• Showcase that your business can execute its plans
• Look for funders that can provide not only capital but also genuine business support.

“The impact and disruption of traditional utilities sectors will not come from large systems but from smart, decentralised platforms similar to Bolide. We are humbled by the support from the Abadali Fund and Edge Growth Ventures and hope to play a meaningful role in helping businesses spend less in the green economy,” says Khudusela Pitje, Founder and Chairperson of the Bolide Group.