Dealflow | April 12, 2024

The Week’s Dealflow: April 12, 2024

The team at


ImpactAlpha’s deal news coverage for the week:

Agrifood tech. Demark’s Reduced raised $6 million to upcycle agricultural waste into new food products through fermentation… France’s Weenat raised €8.5 million ($9.2 million) with backing from Dutch impact investor Pymwymic, German impact fund ECBF and others, to help farmers monitor crops and weather patterns to mitigate water scarcity… Windfall Bio raised $28 million in Series A funding from Prelude Ventures and Amazon’s Climate Pledge Fund for “methane-eating microbes” to help agricultural producers cut greenhouse gas emissions.

AI powered. Google Ventures led a $20 million Series B round for Alethea Group, a maker of AI-powered social media monitoring tools to detect disinformation and foreign influence… South Korea-based AITRICS raised $20.1 million for its AI-based health monitoring system that can predict patient deterioration.

Energy storage. Quinbrook raised $600 million from Blackstone and other US and European investors for large-scale solar + storage projects… Utah-based Torus secured $67 million to produce batteries and link them into virtual power plants… Vietnam’s Alterno raised $1.5 million to store renewable energy in sand batteries.

Financial inclusion. Africa50 and Oikocredit led a $14 million round for Zeepay’s cross-border payments… Kenya’s mTek raised $1.3 million from Verod-Kepple Africa Ventures and Founders Factory Africa to make insurance more accessible in East Africa.

Fund news. JFF Ventures inked $15 million in a first close for its second workforce tech fund (you read it here first: “JFF Ventures aligns venture capital with a national nonprofit to invest in the future of work”)… Savills Investment Management secured £123 million for affordable housing in the UK… Sunna Ventures, which will invest in seed stage climate tech startups, launched with $40 million from Chilean family office WildSur Inversiones.

Fusion energy. Munich-based Proxima Fusion, a spin-out from the Max Planck Institute for Plasma Physics, raised €20 million ($21.5 million) for its stellarator fusion power plant design.

Investing in health. Bangalore-based PlatinumRx raised $800,000 for its prescription delivery service for senior centers, rehab facilities and homes across India… Cariloop raised $20 million to help employers provide services and coaching to employees who are caregivers for family members.

Solar energy. Electronica Finance secured $48 million in an equity round led by LeapFrog Investments and backed by Aavishkaar Capital to finance rooftop solar installations for India’s micro and small businesses… Nexamp snagged $520 million to expand community solar… SunCulture raised $27.5 million to expand solar irrigation for smallholder farmers… The European Investment Bank extended a $20 million loan to Husk Power to build solar minigrids and install commercial and industrial solar in Nigeria.

Latin America. Sustainable tourism in the Galapagos Islands got a boost with Quasar Expeditions’ $14 million loan.