The Catalyst Fund injects $1.8m in early-stage African climate tech startups

The Catalyst Fund has announced an investment of $1.8 million in 9 early-stage climate tech startups across Africa. This brings the 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 startups mark the Catalyst Fund’s 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.  

Maelis Carraro, Managing Partner, Catalyst Fund: ''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 nine new companies to receive investment are Earthbond, (Nigeria) A one-stop-shop for SMEs that need financing for reliable solar energy, Keep It Cool, (Kenya), a Solar cold chain solutions and e-commerce platform for the white meat value chain, Mazao Hub (Tanzania) an AI-powered end-to-end farm management software and soil testing services for small-holder farmers and Medikea, (Tanzania) a Virtual and in-person healthcare services building resilience to climate-related health shocks.

Others are, NoorNation (Egypt) Solar energy and water desalination solutions for farmers and rural communities, Scrapays, (Nigeria) a Digital  waste collection solution for small businesses, Thola (South Africa), which is unlocking compliance automation for food and agriculture value chains, Tolbi (Senegal), a Satellite data and analytics solutions to support climate-smart agricultural practices and Zebra Cropbank, (Nigeria) Solar-powered micro-warehousing and trading solution for farmers

With 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. This will rapidly accelerate each startup’s impact and growth potential.

Maxime Bayen, Operating Partner, Catalyst Fund: ''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 fund plans to continue investing throughout 2024 to back African climate ventures through its pioneering model of VC investing and dedicated hands-on support.

www.thecatalystfund.com