Dealflow | June 7, 2024

The Week’s Dealflow: June 7, 2024

The team at


ImpactAlpha’s deal news coverage for the week:

Agrifood tech. Kenyan agri-data provider Gro Intelligence shuts down… Indian agtech startup Fyllo secured $4 million to provide the country’s farmers with predictive analytics and productivity data… Yola Fresh, a Moroccan startup that connects smallholder farmers with food retailers, scored $7 million in a pre-Series A round backed by FMO, Algebra and Al Mada Ventures.

Circular economy. France’s Nova Carbon inked €1.4 million ($1.8 million) to rescue and recycle carbon fiber, which is used in industrial and heavy-duty structural materials.

Climate finance. Parametric weather insurance provider Understory raised $15 million to expand its coverage to help renewable energy developers prepare for extreme weather events… South Africa’s state run development bank, DBSA, has put up $50 million for a new biodiversity fund and is aiming to raise additional capital from private investors.

Education access. L Squared Capital Partners is acquiring Bain Capital Double Impact’s stake in TeachTown, a K-12 special education provider.

Electric mobility. Decade Energy, also in France, closed €3.6 million ($3.9 million) to electrify commercial fleets… France’s Gireve raised €20 million ($21.8 million) from San Francisco-based Partech’s impact fund to expand its network of EV charging stations… India’s e-motorbike maker Ather Energy raised $34.5 million in a mix of debt and equity as the company prepares for an IPO… The Los Angeles Cleantech Incubator’s Cleantech Debt Fund invested in Stak Mobility, which offers EV charging in its urban parking “carousels” that save space by stacking cars.

Energy transition. Luxembourg-based Alcazar Energy Partners raised $490 million for its second fund, which will invest in utility-scale renewable energy projects in emerging markets… San Francisco-based Plural Energy raised $2.3 million in pre-seed equity to “tokenize” and sell equity stakes in clean energy projects to both retail and institutional investors… Sweden’s Cloover raised $108.5 million in debt financing, alongside a separate $5.5 million seed equity round led by Lowercarbon Capital, to finance small energy upgrade installers… Xcimer Energy’s raked in $100 million for commercial inertial fusion.

Fund news. Amethis raised $27 million for African companies serving low and middle-income consumers… Energy Capital Partners raked in $6.7 billion for its energy transition infrastructure buyout fund. The New Jersey-based firm was acquired by Bridgepoint Group in September last year.

Inclusive finance. African e-commerce darling Copia filed for administration as funding dries up. BNP Paribas and Sumitomo Mitsui Banking Corp. and other banks extended a $468 million loan to Shriram Finance to increase access to financial services for India’s underbanked entrepreneurs… Dutch development bank FMO provided a $50 million loan facility to Banco Mundo Mujer to support access to finance for women and micro-entrepreneurs in Colombia.

Muni impact. Iowa readies a $200 million bond to address agricultural runoff and improve water quality.

Responsible tech. Omidyar Network, Kapor and SF foundations committed $25 million for equitable and ethical AI.