ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Delhi-based Arya.ag raised $19.8 million from the US International Development Finance Corp. to connect smallholder grain farmers to buyers… Ghana’s Oyster Agribusiness, which aggregates agricultural products from smallholder farmers for local and export markets, landed $2 million from Root Capital, RDF Ghana and Sahel Capital.
Climate finance. Global Fund for Coral Reefs backed Sri Lanka’s Oceanpick to expand climate-smart aquaculture… Planetary Technologies snagged $11.3 million in Series A funding from Amplify, Iconiq Capital and other investors for ocean-based carbon removal and storage… S2G led Urbint’s $35 million investment to help utilities respond to storms… TPG Rise Fund, the impact investing arm of San Francisco private equity giant TPG, raised nearly half of the $10 billion target for its second climate fund, according to an SEC filing.
Electrify everything. Climate United rolled out $250 million to electrify truck fleets… BURN landed $15 million to electrify household cooking in East Africa… German startup Vamo secured €7 million ($7.6 million) in a seed extension round for software that helps households connect and manage heat pump systems, helping households save on energy use and costs.
Energy transition. Boston-based Transaera snagged $8.2 million in seed funding and a $2.3 million US Department of Energy grant for commercial deployment of its efficient cooling systems, which cut energy use by 40%… Merlin Solar scored $31 million in a Series B round led by Fifth Wall to make silicon-based solar panels that are lighter and more durable than traditional solar panels and can be attached like a sticker on moving vehicles… Pacific Fusion burst from stealth mode with $900 million to produce fusion energy… Sistema.bio acquired Inclusive Energy, which makes sensors for biogas and solar systems, to improve Sistema.bio’s digital monitoring, reporting and verification capabilities for its biodigester units.
Green infrastructure. The Emerging Africa and Asia Infrastructure Fund invested $28 million in an oversubscribed $300 million public bond for Africell to scale digital communications infrastructure in Angola, the Democratic Republic of the Congo, Gambia and Sierra Leone.
Inclusive finance. Absa Bank secured $150 million to provide trade financing to Africa’s small businesses… Finfra nabbed $2.5 million to propel embedded finance in Indonesia… India’s Finova landed $135 million amid crackdown on non-banking financial institutions… Nigerian banking and payments service Moniepoint landed $110 million in equity financing from Lightrock, Development Partners International and other investors… Salt Capital raised $83 million with backing from the Dutch Good Growth Fund to invest in small and mid-sized enterprises in Africa.
Investing in health. Bangalore-based Healthify, which makes a health and wellness app, raised $45 million from Khosla Ventures, LeapFrog Investments and others to expand to the US… CredibleMind snagged $7.5 million to offer personalized mental health to diverse populations.
Low-carbon transition. General Catalyst led a €4 million ($4.3 million) seed round for Munich-based startup Emidat, which makes software to help construction companies manage their carbon emissions… Norway’s Verdane raised €700 million ($760.5 million) to invest in European businesses supporting clean energy, resource efficiency and decarbonization.
Returns on inclusion. Climate and gender-lens investor Heading for Change backed The 22 Fund, an early-growth impact fund for export-oriented manufacturers led by women and diverse founders… MaC Venture Capital, a majority Black-led firm, raised $150 million for its third fund to invest in early stage startups leveraging cultural shifts to expand access to opportunities, address climate challenges and build better products… US civil rights organization NAACP launched a private investment unit, NAACP Capital, in partnership with Kapor Capital to raise and invest up to $200 million in diverse fund managers.
Sustainable tourism. Rutopía, which links Indigenous communities in Latin America to the sustainable tourism market, raised seed funding from Elea Foundation, ATTA Impact Capital and Boosting Opportunities Fund.
