Climate and Gender | November 1, 2022

Satgana raises funds for climate tech startups in Africa and Europe

Roodgally Senatus

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ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 2 — Luxembourg-based Satgana, which means “a good company” in Sanskrit, has raised an undisclosed amount in a first close from 30 LPs, including individual investors such as Back Market’s Thibaud Hug de Larauze, Eurazeo’s Fabrice de Gaudemar and Tiller Systems’ Josef Bovet.

The venture capital fund is looking to raise €30 million to invest in food and agriculture, energy, mobility, industry and buildings, carbon removal and the circular economy.

“The climate and ecological crisis is the defining issue of our time,” said Satgana’s Romain Diaz. “There has never been a better time to build and invest in climate tech, forestered by an unprecedented flood of talent and capital into the space.”

The fund will make investments of up to €500,000 in startups’ pre-seed and seed rounds. 

Gender lens

Satgana aims to qualify for the 2X Challenge, which incentivizes funds to emphasize women’s employment, entrepreneurship and leadership. Gender and diversity-lens investing are key to ensuring a just economic transition.

Portfolio companies

Satgana’s three portfolio companies to date include Kenya’s Mazi Mobility, which is building a network of electric motorcycles and battery-swapping stations in East Africa; Germany’s Orbio Earth, which provides satellite data to energy companies to monitor and reduce their methane footprint; and France’s Yeast, which is using yeast to make a sustainable alternative protein.