Brrrief! InspiraFarms closes Series B to roll out solar powered cold storage units across Africa
Summary
And it’s difficult due to high installation costs and all sorts of risks, most notably those surrounding intermittent electricity supplies and connectivity in rural areas. In a recent call with AFN from South Africa, while stuck in lockdown, InspiraFarms co-founder and CEO Tim Chambers outlined some better news as consolation: his company had closed its Series B funding round to expand operations in the region. Existing investors Energy Access Ventures and the Put Your Money Where Your Mouth Is Community (PYMWYMIC) also participated in the round along with Untapped. The selling point of InspiraFarms technology, according to Chambers, is that it allows its customers to access new higher-value markets, significantly cut energy costs, reduce post-harvest losses, and meet international food safety certifications. Amar Inamdar of KawiSafi Ventures hails his new portfolio company as a “world-class leader in energy-efficient cold chain.” That said, there are plenty of other cool startups operating in a similar space.