Catalyst Fund backs 10 startups with $2mn investment

Catalyst Fund backs 10 startups with $2mn investment
Catalyst Fund backs 10 startups with $2mn investment

Catalyst Fund has announced a USD 2mn commitment into ten African startups that focus on improving resilience to climate change effects. Each of the ten will receive USD 100k in equity and USD 100k for hands-on venture-building support.

The ten companies are listed below:

  • Agro Supply– A Ugandan company that helps farmers to save money for farm inputs such as drought-resistant seeds. These include maize, sorghum, soybean and sunflower.
  • Assuraf – an insurtech platform based in Senegal that offers a range of insurance products (agriculture, automotive, health, housing) from over twenty insurance companies.
  • Bekia is an Egyptian waste collection company that allows companies and households to exchange waste (plastic, paper, cooking oil, metals) for money.
  • Nigeria’s Eight Medical is an emergency medical services platform that provides on-demand urgent care when and where it is needed, including for climate-induced crises.
  • Farm to Feed is a Kenyan company that provides a market for imperfect and surplus produce from farmers.
  • Farmz2U is a Kenyan and Nigerian agtech startup from which farmers can access farming advice, secure affordable credit and acquire quality and traceable inputs. They can also secure buyers for their produce.
  • Octavia Carbon is a direct air capture company building a low-cost DAC hub. The Kenyan company is building machinery to capture carbon from the air for resale as carbon dioxide or carbon credits to off-takers.
  • Nigeria’s PaddyCover provides insurance services such as including health, life and, in the future, index-based crop insurance.
  • Sand to Green is a Moroccan company that transforms deserts into cultivable land using agroforestry methodology and a solar-powered desalination system to design climate-smart regenerative farms.
  • VAIS is an Egyptian precision agtech startup that provides data intelligence to farms via its FarmGATE.