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Catalyst Fund Invest $ 1.8 Million in 9 African Climate tech Startups

catalyst fund

Summary

  • The Catalyst Fund has invested $1.8 million in 9 early-stage climate tech startups across Africa, expanding its total portfolio to 19 companies operating in 8 different markets.
  • The startups address pressing climate-related challenges in agriculture, healthcare, energy access, and waste management, offering solutions such as solar cold chain systems, affordable telemedicine services, and AI-powered farm management software.
  • The Catalyst Fund aims to accelerate the impact and growth potential of these startups through customized venture building support, with plans to continue investing throughout 2024.

The Catalyst Fund has announced an investment of $1.8 million in 9 climate tech startups in Africa. This investment not only reaffirms the fund’s commitment to climate adaptation. It also expands its portfolio to 19 companies operating in 8 different markets including Kenya, Egypt, Morocco, Nigeria, Senegal, South Africa, Tanzania, and Uganda.

The second round of investments by The Catalyst Fund is tailored to address critical climate-related challenges from agriculture, healthcare, energy access, and waste management. The selected startups showcase a spectrum of solutions, including a solar cold chain system 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.

Maelis Carraro, Managing Partner at the Catalyst Fund, said, “We are thrilled to invest in these 9 new ventures bringing innovative climate-smart solutions to the communities that need them most. 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 Startups

The nine startups set to benefit from this investment include Earthbond (Nigeria), Keep It Cool (Kenya), Mazao Hub (Tanzania), Medikea (Tanzania), NoorNation (Egypt), Scrapays (Nigeria), Thola (South Africa), Tolbi (Senegal), and Zebra Cropbank (Nigeria). These companies offer diverse solutions, ranging from financing for reliable solar energy and solar cold chain solutions to virtual healthcare services and compliance automation for agriculture value chains.

With each investment, The Catalyst Fund aims to provide customized venture building support through its team of experts and operators. This hands-on approach ensures that startups receive the necessary guidance to accelerate their impact and growth potential.

Maxime Bayen, Operating Partner at the Catalyst Fund, said, “With these new investments, we aim to continue diversifying our portfolio in models, climate adaptation sectors, and geographies. The level of innovation we see among these entrepreneurs is incredibly exciting, and we look forward to working with them hand in hand through their growth journeys, accelerating the rise of climate tech solutions on the continent.”

The Catalyst Fund has plans to continue investing throughout 2024, supporting African climate ventures. Interested companies and investors keen on contributing to the climate tech revolution can learn more and contact the Catalyst Fund team at www.thecatalystfund.com.

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Also Read: Roam Secures $24 Million Funding to Scale Up EV Production in Africa

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Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: kaluka@techarena.co.ke
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