The Catalyst Fund Invests $1.8 Million in 9 African Climate
Summary
The Catalyst Fund has today announced an investment of $1.8 million in 9 early-stage climate tech startups across Africa.This brings their total portfolio to 19 companies driving climate adaptation and resilience on the continent across 8 different markets: Kenya, Egypt, Morocco, Nigeria, Senegal, South Africa, Tanzania, and Uganda.The Catalyst Fund is a pre-seed VC fund and accelerator backing tech entrepreneurs who are scaling solutions for a climate-resilient future in Africa.The startups mark the Catalyst Funds second round of investments focused explicitly on startups building resilience to climate change on the African continent.The new ventures in their portfolio tackle pressing climate-related challenges across agriculture, healthcare, energy access, and waste management. Companies include a solar cold chain solution for small-scale aquaculture in Kenya, affordable telemedicine health services in Tanzania, financing for decentralized solar energy for SMEs, AI solutions for climate-smart inputs and soil mapping, waste recycling, and more.We are thrilled to invest in these 9 new ventures bringing innovative climate-smart solutions to the communities that need them most, said Maelis Carraro, Managing Partner at the Catalyst Fund. Their groundbreaking models directly empower farmers, healthcare providers, waste workers, and small and medium businesses to adapt to the changes brought by climate change and drive climate positive economic growth.The nine new companies to receive investment are: Earthbond, Nigeria: One-stop-shop for SMEs that need financing for reliable solar energy Keep It Cool, Kenya: Solar cold chain solutions and e-commerce platform for the white meat value chain NoorNation, Egypt: Solar energy and water desalination solutions for farmers and rural communities Thola, South Africa: Unlocking compliance automation for food and agriculture value chainsWith each investment, the companies will receive bespoke venture building provided by the Catalyst Fund team of experts and operators who become extensions of the startups teams. With these new investments, we aim to continue diversifying our portfolio in models, climate adaptation sectors, and geographies. Maxime Bayen, Operating Partner at the Catalyst Fund.The fund plans to continue investing throughout 2024 to back African climate ventures through its pioneering model of VC investing and dedicated hands-on support.