ImpactAlpha’s deal news coverage for the week:
Agrifood tech. A to Z Impact backed Springboard to expand its cooperative of small-scale farmers in Nigeria… Brazilian bio-based agricultural producer closed a Series A round backed by Corteva… Lagata invested in Miro for sustainable forestry and timber products in West Africa… Sahel Capital extended a $1 million loan to Kenyan avocado oil processor Persea Oil to improve supply chain efficiency, procure new equipment and upgrade its infrastructure.
Low-carbon transition. Climeworks, a Swiss carbon removal startup that uses direct air capture technology, raised $162 million of equity capital, led by BigPoint Holding and Partners Group, and expanded its offerings to include other kinds of carbon-removal credits. The financing brings Climeworks’ total raised since 2009 to over $1 billion… Germany’s Climatiq scored €10 million ($12 million) in a Series A financing round, led by Munich-based venture fund Alstin Capital, for its decarbonization management software.
Defense tech. French private equity investor Omnes Capital secured €112 million ($132 million) to invest in deeptech startups focused on defense and security, AI and advanced materials (see, “Calling responsible investors in Europe to invest in… defense”). With backing from the European Investment Fund, Omnes became the first fund to gain financial support from the European Union’s defense mandate.
Innovative finance. IMPAQTO Capital provided a revenue-based loan to Muyu Education to provide coaching and AI-enabled feedback to educators in Ecuador…
Impact tech. Standard Chartered’s venture fund led a $120 million round for Indian B2B marketplace Jumbotail.
Energy transition. Battery Smart snagged $21 million in Series B equity funding from Rising Tide Energy, ResponsAbility’s Asia Climate Fund, Acacia Inclusion and Ecosystem Integrity Fund, for its EV battery swapping service in India… San Francisco-based Station A, a platform that connects commercial real estate owners with solar, storage, and EV charging providers, raised an $8 million Series A round from Building Ventures, Climactic Capital, Systemiq Capital and previous seed investors.
Impact biotech. WaterBridge Ventures and India-focused Japanese VC firm Enrission India Capital co-led a $3.25 million round for Loopworm, an Indian insect biosciences company. The funding will support the commercialization of Loopworm’s technology for diagnostics and animal vaccines.
Inclusive finance. South Africa’s Rand Merchant Bank and several development finance institutions provided $137 million in debt to Wave, which offers low-cost mobile money services in West Africa. The funding will provide working capital and accelerate growth in new and existing markets… Telecom giant Nokia secured a €1.5 billion ($1.73 billion) multicurrency revolving credit facility, with interest rates linked to its progress halving its greenhouse gas emissions by 2030.
Fund news. Ambienta raised €500 million to back Europe’s ‘environmental champions’… ‘Broker notes’ expand access to RSF’s Social Investment Fund… The West Yorkshire Pension Fund anchored Rebalance Earth’s fund for ecosystem services.
New GPs on The Liist. South African gender and climate fund Altree Capital and US-focused decarbonization tech investor Khasma Capital are newly featured GP profiles and additions to The Liist. Also check out the strategy update for the Vermont Sustainable Jobs Fund.
Green infrastructure. Infrastructure investment firms ArcLight and DigitalBridge invested $500 million in the Michigan-based provider Takanock, which provides digital and power infrastructure solutions for data centers and helps them integrate renewable energy sources.
Return on inclusion. Los Angeles-based Halogen Ventures raised $30 million to invest in female-founded childcare and youth services, edtech and family tech companies… Women-led Chingona Ventures, in Chicago, has launched its third fund with a target of $50 million to invest in diverse founders, according to an SEC filing.
Youth mental health. Handspring, a New York-based company that offers virtual therapy for children, adolescents and young adults, clinched $12 million, backed by Cobalt Ventures, VamosVentures, Hyde Park Angels and other investors.
