ImpactAlpha, June 6 – Mexico City-based Sistema.Bio makes durable, low-cost biodigesters that convert farm waste to clean energy. The company has raised $12 million in Series A funding to support its expansion in Latin America, India and Kenya.
Most of the farmers Sistema.Bio currently serves are subsistence farmers who purchase the company’s smallest systems, Sistema’s co-founder Alex Eaton told ImpactAlpha. “But we have been increasing our reach with productive scale agribusiness in the dairy sector.”
The new injection of capital will support Sistema’s goal of reaching 200,000 farmers in the next three years.
A long roster of investors participated in the round, including utility company Engie’s Rassembleurs d’Energies fund, EcoEnterprise Fund, Endeavor Catalyst Fund, Shell Foundation and Triodos.
Last year, while in the midst of raising for its Series A the company secured a working capital loan from Beneficial Returns that was structured to incentivize sales and growth.