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ImpactAlpha’s deal news coverage for the week:
Electrify everything. Reefilla, an Italian startup that offers a mobile charging system for electric vehicles, raised €4.5 million ($4.7 million) in a round led by CDP Venture Capital’s Green Transition Fund to expand its markets and research second life batteries… Rwanda’s BioMassters, which makes cookstoves and pellet fuel out of biomass waste, raised funding from Acumen to set up a production plant and distribute cookstoves to 25,000 households and small businesses… Senegalese electric two and three-wheeler maker Solarbox Africa raised $1 million from the Digital Energy Facility, Teranga Capital and others to expand its production and market footprint.
Energy transition. Acumen’s Hardest to Reach fund invested $5 million in Brighter Life, a project of solar company d.light and African Frontier Capital. The multi-country receivables financing facility is meant to help d.light access working capital and reduce its exposure to currency risk… CrossBoundary Energy landed $140 million to scale commercial renewable energy in Africa… Ireland-based solar installer Solarfix, which designs and installs solar panels, raised €1.8 million ($1.9 million) to expand services to household and commercial clients in Ireland and the UK… Kenyan hydro mini-grid developer Hydrobox secured $9 million in debt financing from Dutch development bank FMO to develop eight mini-grid projects.
Financial inclusion. Ethiopia-based Renew Capital signed its first deal in Tunisia, backing Konnect to make digital payments more accessible for the unbanked… HUB2 snagged $8.5 million to expand digital payments in French-speaking Africa.
Fund news. Blue Earth offered liquidity with a private-credit impact fund… BlueOrchard’s Green Earth Impact Fund invested $5 million in climate smart infrastructure in Africa… Golub Capital made an undisclosed three-year commitment to the New York University Impact Investment Fund, a student-led fund at NYU. The partnership establishes the Golub Capital Social Impact Investment Education Fund, which will support NIIF’s experiential education activities.
Green bonds. In Vietnam, bonds for sustainable aquaculture and loans for organic farming… Ninety One’s Emerging Africa and Asia Infrastructure Fund joined the International Finance Corp. and Proparco as co-anchors in a $1.2 billion bond issuance for digital connectivity in Africa.
Impact real estate. Norrsken VC inked real estate ESG management software deal… Swedish early-stage impact investor Norrsken VC led a €13 million ($13.6 million) Series A round in Munich-based Predium, to provide ESG management in finance and real estate… Tom Steyer’s Galvanize Climate Solutions is seeking to move real estate from grey to green.
Impact tech. Catalyst Fund, Renew Capital and others invested $1.4 million in Moroccan startup Enakl to incorporate AI into its ride-sharing app to optimize ride routes… Israeli climate tech startup FireDome raised $4.5 million for wildfire detection and response using sensors, connected devices and software. The pre-seed round includes a $1.5 million grant from the Israeli government… The Hague-based Circularise, which helps companies create blockchain-based digital passports to identify a product’s origin and environmental impact, raised pre-series B funding from Japanese chemical and pharma giant Teijin Group.
Inclusive finance. Draper Richards Kaplan Foundation secured an $8.6 million catalytic grant from the Swiss Agency for Development and Cooperation to support 140 new social enterprises in six African countries… Global Gender-Smart Fund invested to support female entrepreneurs in Uzbekistan.
Investing in health. ModifyHealth snagged $13.5 million for nutritious food as medicine.
Low-carbon transition. Decarbonization Partners led $35 million round for smart metering company…New York-based Rosy Soil clinched $3.6 million in seed funding, backed by Climate Capital and Boost VC, to create a biochar-based soil additive from captured carbon emissions to improve soil health and plant growth.
