ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Beneficial Returns re-upped with Indonesian nut producer Kawanasi… HeavyFinance raised €20 million to help farmers regenerate Europe’s agriculture… Mad Capital raised $14 million in blended capital for regenerative farmland transitions.
Climate finance. Berlin-based Dryad Network, which is developing AI- and solar-powered ultra-early wildfire detection systems, scored €5.6 million ($6.1 million) in a convertible financing round… Montauk Climate, a new climate tech accelerator launched by Philip Krim, co-founder of mattress maker Casper, raised $8.5 million.
Employee ownership. KKR took a majority stake in US utility-scale solar and storage developer Avantus, the first investment from KKR’s climate strategy. KKR will help Avantus create an equity ownership program for the company’s employees.
Electric vehicles. TELO Trucks clinched $5.4 million to build a compact electric pickup truck.
Financial inclusion. Mexico City-based fintech venture Grupago secured $4.3 million in seed funding to provide credit to micro and small businesses… Nigeria’s Moove raised $100 million for revenue-based vehicle financing… Nigeria’s Zone raised $8.5 million in a seed round co-led by Flourish Ventures and TLcom Capital to build infrastructure for blockchain-enabled digital payments.
Fund news. ABN Amro committed to Nordic Alpha’s second European green tech fund, which secured €150 million ($163 million) first close last year towards its €300 million ($326 million) target… African venture capital rebounds as global LPs re-up in Partech Africa… Early-stage climate tech VC investor WovenEarth Ventures reached a final close of $152 million for its first fund… Women-led Emmeline Ventures is approaching the $25 million target for its inaugural fund, which focuses on women’s health, financial services and sustainability ventures.
Green batteries. Indian battery tech venture Lohum Cleantech raked in 1.2 billion rupees ($14.3 million) in Series B financing, led by Singularity Growth.
Investing in health. Sugar.fit, which provides affordable health care for diabetes patients in India, raised $16 million in Series A funding.
Low-carbon technologies. Boston Metal, which is decarbonizing steel production, secured $20 million from the International Finance Corp… Direct air capture company Mission Zero Technologies snagged £21.8 million ($27.7 million) in Series A funding from Breakthrough Energy Ventures, 2150 and other investors… Mountain View, Calif.-based Furno Materials raised a $6.5 million seed round for its small-format kilns that enable localized, greener cement production, particularly in emerging markets.
Returns on inclusion. Revolve Fund has leveraged $2 million in philanthropic funding since 2020 to catalyze $10.9 million in capital for businesses and nonprofits led by people of color… Westbound raised $100 million for tech ventures by, for or with people of color.
Sustainable aquaculture. Barcelona-based and women-led Poseidona raised €1.1 million ($1.2 million) in pre-seed financing to make alternative proteins from algae and seaweed waste in the Mediterranean… Canada’s Poseidon Ocean Systems raised $20.7 million in Series B funding, led by Ecosystem Integrity Fund, to support sustainable aquaculture.
