Catalyst Fund, a Pre-seed venture capital and accelerator has announced a $2 million investment into ten startups. These startups are focused on building solutions to improve the resilience of climate-vulnerable communities in Africa.
This $2 million investment is part of the organization’s $30 million fund with the aim to support early-stage founders to develop technology that will make Africa more resilient to climate change and its impacts.
Each of the startups selected in this cohort is to be offered $100,000 of equity investments. Asides from this, they will also be offered $100,000 of hands-on venture building support.
The startups will join the Catalyst Fund’s existing portfolio of 61 startups across many emerging markets and will receive capital, bespoke and expert-led venture building. In addition to this, they will also receive direct connections with investors, corporate innovators and talent networks that will enable them to scale.
The entire Catalyst organization is thrilled to have the opportunity to partner with these 10 African startups that are working to build a more resilient and sustainable future for Africa.
The goal of Catalyst 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.”
Among the ten startups are three Nigerian companies namely Eight Medical, Farmz2U and PaddyCover. Kenya is represented by Farm to Feed and Octovia Carbon. The startups from Egypt are tech-enabled waste collection solution Bekia and precision agri-tech startup VAIS.
Other startups include Uganda’s mobile layaway system Agro Supply, Senegalese insurtech platform Assurap, and agroforestry startup Sand to Green.