Catalyst Fund announces $2 million investment into 10 startups accelerating Africa’s adaptation and resilience to climate change | The Guardian Nigeria News - Nigeria and World News

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NAIROBI, Kenya, 10 January 2023 -/African Media Agency(AMA)/- Today pre-seed venture capital (VC) fund and accelerator Catalyst Fund announced a $2 million investment into 10 startups building solutions to improve the resilience of climate-vulnerable communities in Africa. This is the inaugural cohort of the new $30M VC fund of Catalyst Fund, anchored by financial sector development agency FSD Africa, aimed […]

[Egypt]: a precision agtech startup committed to climate resilience and food security by providing data intelligence to farms via their FarmGATE application, which is powered by proprietary artificial intelligence/machine learning -based virtual field probing technology, to enable better use of water and other farm inputs to produce better yields.

“At FSD Africa, we believe that by harnessing the power of tech, and specifically fintech innovation, we can help to spur the development of climate resilience solutions for Africa, thereby helping deliver on COP27’s core themes of adaptation and implementation,” said Juliet Munro, Director of Digital Economy at FSD Africa. “These companies are strong examples of the innovation we need to enhance the resilience of vulnerable communities in across the continent.

“COP27 in Egypt this year called for more private sector financing to fill the >$330B funding gap for adaptation and resilience by 2030. It also called for more local innovations to support communities in building resilience to climate impacts. The Catalyst Fund’s new cohort exemplifies what these innovative climate solutions for the most vulnerable could look like. We are also thrilled to be backing companies in Francophone Africa and Northern Africa for the first time.

 

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