- Green Rising
- Posts
- The top 20 African green ventures currently raising money
The top 20 African green ventures currently raising money
Global interest is starting to improve the investment landscape for climate ventures on the continent. We list 20 stand-out companies and look at the four sectors taking off.
Green Rising
September 14, 2023
Hi and welcome back… it’s a hectic week for professionals in Africa’s green economy. Some of us are preparing for meeting marathons in New York at the UN General Assembly and NY climate week. Meanwhile, the shocking news from Libya, where extreme weather killed thousands, underlines why climate work in Africa matters.
⏳ Today’s reading time: 5 mins
LOGISTICS UPDATE | Thursday 14 September
* Countdown: New York climate week starts in 4 days (Sept 18)
* Grow the crowd: Side events at the UN General Assembly next week
🤝 Agenda: IGCF 2023 convenes sustainability champions this week in UAE
📖 New reports: From the IEA and the Global Center on Adaptation
🌳 Other event: Sfax, Tunisia hosts an environment forum this week
1. Who is raising how much money in Africa’s climate space?
Africa needs significant new investments to see sufficient climate action. Existing companies and operations won't be enough to shift the needle.
The challenge: Today’s investment climate is tricky. Venture investments in Africa fell by 43% in the first half of the year compared to H1 2022 (AVCA). Globally, they halved.
Yet, the climate sector keeps growing. Climate-related funding is a third of startup capital in Africa and on the up.
Deal-making: Ventures raising new funds are taking advantage of a series of international meetings that bring together the ecosystem and ease access to people writing cheques, including last week’s Africa Climate Summit.
The details: Green Rising has rounded up what’s currently in the investment pipeline. The potential investees fall into four clearly delineated categories.
1. Agriculture: SunCulture ($36m) and Hand in Hand ($26m) are the biggest raisers. The former will fund the deployment of 274,000 solar irrigation units, relying heavily on tech solutions for smallholders. The latter wants to train 75,000 farmers on regenerative practices.