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ImpactAlpha’s deal news coverage for the week:
Agrifood investing. AgDevCo provided $9.5 million in mezzanine debt to Agventure, a Kenyan agri-business, to expand sustainable processing of canola seeds and oil… BNP Paribas, Earthshot Ventures, AgFunder, Ananda Impact Ventures and others led a $22 million Series A round for Germany’s Klim to help food companies cut emissions within their value chains and promote regenerative agriculture practices… Oceanloop, a German shrimp farming venture, landed a €35 million ($37 million) loan from the European Investment Bank to build a facility in Spain.
Energy transition. Africa-focused renewable energy developer Axian Energy landed €84 million ($89.2 million) in debt from the Emerging Africa and Asia Infrastructure Fund, FMO and DEG to set up two solar + battery storage systems in Senegal… Amsterdam’s Sympower, which helps businesses manage their energy use, landed €21.3 million ($22.5 million) from A&G Energy Transition Tech Fund, Rubio Impact Ventures, the European Investment Fund… Dublin-based Gazelle Wind Power raised €11.4 million ($12.3 million) in a Series A round led by Indico Capital Partners to develop a floating wind project off the coast of Portugal… IndiGrid, BII and Norfund launched EnerGrid to finance energy transmission and storage in India… Nigerian electricity grid management company Beacon Power Services raised an undisclosed amount of Series A funding from Partech, Finnfund, Gaia Impact and other investors.
Inclusive finance. Bangalore-based Wheelocity secured $15 million in a Series A extension round led by Lightspeed, to expand e-commerce delivery to 20,000 rural and semi-urban towns and villages… UK-based Iwoca raised £200 million ($246 million) in debt from Citi and Waterfall Asset Management to offer small businesses loans of up to £1 million… Sahel Capital provided a $1 million loan to Uganda’s Sukuma Commodities to double its coffee-sourcing capacity from smallholder farmers.
Investing in health. Fort Health raised $5.5 million to expand access to pediatric mental health services.
Regenerative finance. Irish company Ulysses Ecosystem Engineering raised $2 million from Lowercarbon Capital, Superorganism, ReGen Ventures and other investors to use drones to replant and restore seagrass meadows… Temasek and Trafigura backed carbon credits from ecosystem restoration in Colombia.Fund news. BlueOrchard and EFG launched a fund for sustainable bonds in emerging markets… Indian small business lender Northern Arc raised $65 million for its first climate fund… WovenEarth Ventures launched its second climate-focused fund of funds, with a goal of raising $300 million. It closed its first such fund earlier this year.
Waste to value. Tozero landed €11 million to extract lithium and other critical materials from waste.
