Kenya’s Farm to Feed and Octovia Carbon are among 10 startups that have been selected by Pre-seed venture capital (VC) fund and accelerator Catalyst Fund for a US$2 million investment. The investment is meant to improve the resilience of climate-vulnerable communities in Africa.
Other African startups that have made the list include Nigeria’s 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.
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.
Maelis Carraro, managing partner of Catalyst Fund, had this to say, “We are thrilled to have the opportunity to partner with 10 groundbreaking African startups working to build a more resilient and sustainable future. 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.”