The Catalyst Fund Announces $2 Million Investment in 10 Startups to Accelerate Africa's Adaptation to Climate Change

Today, the Catalyst Fund, a pre-seed and accelerator venture capital fund, announced a $2 million investment in Startups providing solutions to improve the climate resilience of the most vulnerable communities in Africa. This is the inaugural lineup for the Catalyst Fund’s new venture capital fund sponsored by FSD Africa, which aims to support early-stage founders so they can develop technologies that will make Africa more resilient to the effects of climate change.

Each of the ten startups will receive 20 $1,000 in investment Equity plus 20 thousand dollars of hands-on support in building projects.

These companies will join the existing Catalyst Fund portfolio of 20 emerging market startups and will each receive capital and venture capital support Fit to situation Developed by domain experts and direct relationships with investors and innovators in the companies business and with talent networks that can help them expand. Catalyst Fund portfolio companies have raised over 640 million dollars in follow-on funding to date and are currently serving more than million individuals and MSMEs worldwide.

said Miles Carraro Managing Partner At Catalyst Fund: “We are delighted to have the opportunity to partner with ten leading African startups that are building a more resilient and sustainable future. Our goal is to support founders who carry a message and share our vision of a world where everyone has the tools and opportunities they need to thrive. In the areas of agricultural technology, insurance solutions technologies, waste management, disaster response and carbon finance, these startups are showcasing financing, technologies and business model innovations that will help communities better adapt to climate impacts and increase their resilience in this regard.

Here are the names of the 10 companies that will join the next group of Catalyst Funds:

● Agro Supply : a secure mobile purchasing system that helps farmers to gradually save money using their mobile phones and spend money to purchase agricultural inputs such as hybrid (drought tolerant) seeds of corn, sorghum, sunflower and soybean during the growing season.

● Asuraf [السنغال]: A digital platform for insurance solutions technologies that allows end users to access a range of insurance products (such as agriculture, auto, health, housing and natural disasters) from more than 20 An insurance company with a fully integrated claims management system.

● Bekia [مصر]: A tech-enabled waste collection solution that enables businesses and households to exchange their waste (plastic, paper, electronics, metal, cooking oil) for a cash incentive paid on your digital wallet.

● Eat Medical [نيجيريا]: A cloud-native emergency medical services platform that delivers urgent, on-demand care when and where it’s needed. Africa’s emergency service “330 for Africa” connects motorcycle emergency paramedics with distressed users within minutes or less, including in climate-induced crises.

● Farm Two Feed [كينيا]: A food supply chain company offering a digital food loss solution. This solution focuses on providing a market for defective and surplus produce from farmers, contributing to food security and reducing emissions.

Farms2U [نيجيريا ، كينيا]: Agritech Solutions Project Driving Sustainable Agriculture. Through Farms2U, farmers can get personalized farming advice (especially regarding regenerative farming practices), affordable credit, high-quality traceable supplies, and direct buyers for their harvest.

● Octavia Carbon [كينيا]: The first direct air capture company in the Global South and is building the lowest cost direct air capture center in the world. Octavia is building direct air capture machines that capture carbon from the air to resell either as CO2 or carbon credits to contractors.

BUDDY Cover [نيجيريا]: Works with existing insurers and digital platforms to design and offer customized products across its platform that facilitate access to flexible insurance packages including health, life and future index-based crop insurance. Offers are included in the customer’s life touchpoints either as a convenience or as a supplemental added value.

● Sand to Green

: Turns deserts into arable land using agroforestry methodology and a solar water desalination system to design climate-smart renewable farms.

Vice [مصر]: an agrotech startup committed to climate resilience and food security by providing data intelligence to farmers via their app Farmgate which is powered by virtual field testing based on AI/ML to enable better use of water and other agricultural inputs for production Better Yields.

“We at FSD Africa believe that it is By harnessing the power of technology and specifically innovations in FinTech solutions, we can help catalyze the development of climate resilience solutions for Africa, thereby helping to achieve the core themes of the 27th United Nations Climate Change and Climate Change Conference. With the ability to adapt and execute, these companies are powerful examples of the innovation we need to strengthen the resilience of the most vulnerable communities across the continent.”

said Aaron Foo , Partner at Catalyst Fund: “The 27th United Nations Climate Change Conference in Egypt this year called for more financing from the private sector to bridge the financing gap of more than 330 billion dollars for adaptation and resilience by 640. He also called for more local innovations to support communities in building climate resilience. The new Catalyst Fund range is an example of what these innovative climate solutions can look like for the most vulnerable. We are also excited to have started supporting businesses in Francophone Africa and North Africa for the first time and intend to support many more startups like them across the African continent in the coming years