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ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Inari raked in $144 million to scale production of lab grown, climate resilient seeds… Moonrider raised early funding to introduce electric tractors on India’s farms… Regenera Ventures secured $9.3 million for regenerative farming in Mexico… Wavemaker Impact backed Indonesia’s HiFeed to reduce methane emissions from cattle.
Energy efficiency. Egypt’s ReNile raised $450,000 from a group of undisclosed investors to provide farmers with technology to improve energy efficiency and farming productivity… Mojave Energy Systems, which has developed a liquid coolant to increase energy efficiency in air conditioning systems, scored $9.5 million from Fifth Wall, At One Ventures and other backers.
Energy transition. Investors in the E8 Angels network, which invests in clean tech companies, committed a combined $800,000 to energy storage provider Atlas Power Technologies, small-scale and community wind developer Pecos Wind Power, and Cecilia, which recycles plastic waste into new materials… The US Department of Energy’s Loan Programs Office extended a conditional loan guarantee of up to $1.8 billion to Arizona Public Service. The largest electric utility in Arizona will use the commitment to accelerate a shift to renewable energy and implement a Virtual Power Plant… The US International Development Finance Corp. offered an $18 million loan to Delhi-based Mufin Green to expand from electric vehicle financing to solar financing.
Fund news. Paris-based 360 Capital secured €140 million ($145 million) in a first close for its second European climate tech fund, with backing from Italian utility A2A, Bpifrance, CDP Ventures and other investors.
Green infrastructure. Baltimore-based Sunairio raised $6.4 million from Buoyant Ventures, MassMutual Venture’s Climate Tech Fund, Constellation Technology Ventures and others for its software that helps renewable energy investors, energy traders and utilities predict risks to the grid and energy infrastructure… Cassava Technologies secured $90 million for digital infrastructure in Africa… Emerging Africa and Asia Infrastructure Fund backed commercial and industrial solar in Vietnam.
Impact real estate. Arctaris Impact Investors made an undisclosed equity investment in a $30 million hotel-to-residential project located in an Opportunity Zone in downtown Baltimore. The adaptive reuse project will create 303 units of workforce housing.
Inclusive finance. A consortium that includes British International Investment, Tanmiya Capital Ventures and SPE Capital acquired Tamweely, a microfinance institution that provides financial services to small enterprises and unbanked individuals in Egypt… The International Finance Corp. invested $100 million in the Industrial Development Bank of Türkiye to increase its lending to women-led businesses and to businesses employing women in the southern part of the country devastated by an earthquake in 2023.
Investing in health. Twentyeight Health raised $10 million for women’s reproductive and sexual health care… Zoplar, in Gurgaon, raised $3.4 million from Blume Ventures, Beenext, Saison Capital, Atrium Angels and other investors to help India’s small hospitals procure medical equipment.
Rare earths. Alta Resource scored $5.1 million in seed financing, co-led by DCVC and Voyager Ventures, for its lab-designed proteins that act as “microbots” that extract rare earth elements and critical minerals from electronic waste… Financing for KoBold and Electra reflects global scramble for key minerals and metals.
Small businesses. Cameroon’s Afriland First Bank, which provides financing for small businesses, secured a $60 million loan from the International Finance Corp. and its lending partners. The loan is backstopped by a $3 million guarantee from the International Development Association… Ethiopia-based private equity firm Renew Capital backed Talaty, an AI-powered fintech company that provides working capital to small and mid-sized businesses in Morocco… Singapore-based Tyme Group, a digital bank for small- and mid-sized businesses in Asia and Africa, raised $250 million in a round led by Brazilian digital bank Nubank. British International Investment, Norrsken 22, M&G Catalyst Fund, Tencent and others also invested.
