Pre-seed venture capital (VC) fund and accelerator Catalyst Fund has announced a US$2 million investment into 10 startups building solutions to improve the resilience of climate-vulnerable communities in Africa. Kenya is represented on this list by Farm to Feed and Octovia Carbon.
The fund is part of the organization’s $30 million aimed at supporting early-stage founders to develop technology that will make Africa more resilient to the impacts of climate change.
Each of the 10 startups selected for this cohort will be offered $100,000 of equity investments as well as $100,000 of hands-on venture-building support. They will join Catalyst Fund’s existing portfolio of 61 startups across emerging markets and receive capital, bespoke and expert-led venture-building support, and direct connections with investors, corporate innovators and talent networks that can help them scale.
“We are thrilled to have the opportunity to partner with 10 groundbreaking African startups working to build a more resilient and sustainable future,” said Maelis Carraro, managing partner of Catalyst Fund.
“Our goal is to back mission-driven founders that share our vision of a world where every individual has the tools and opportunities they need to thrive. From agri-tech to insurtech, waste management, disaster response, and carbon finance, these startups display finance, tech, and business model innovations that will help communities better adapt to climate impacts and grow their resilience.”
There are three Nigerian companies for this cohort, namely Eight Medical, Farmz2U and PaddyCover. Egypt is represented by tech-enabled waste collection solution Bekia and precision agri-tech startup VAIS.
Others are Uganda’s mobile layaway system Agro Supply, Senegalese insurtech platform Assuraf, and agroforestry startup Sand to Green.
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