ImpactAlpha’s deal news coverage for the week:
Agrifood tech. Asia Impact led $17 million investment in India’s Agrim, a marketplace for agriculture inputs… Jakarta-based Lokatani raised pre-seed capital from Asiapay Capital and Jakarta Ventura for its hydroponic farming tech… Incofin’s Nutritious Foods Financing Facility backed three social enterprises in Africa.
E-commerce ventures. French pharmaceutical giant made a strategic investment in Rwandan health e-commerce company Kasha… Kenya’s MarketForce founders helped secure $1.2 million for new e-commerce venture.
Electric vehicles. Rwanda-based Ampersand, a maker of electric motorcycles, raised $2 million from AHL Venture Partners, Everstrong Capital and Beyond Capital Ventures. The raise brings the company’s total funding raised over the last year to $21.5 million.
Impact bonds. A social investment bond issued by Catholic Relief Services and the Mexican state government of Nuevo Leon will support access to formal jobs for young adults.
Impact tech. Raven Indigenous Capital Partners backed Runwithit, which provides 3D synthetic modeling, data visualization and “digital twin” technology to regions and cities to explore the potential impact of natural or human-caused events.
Low-carbon transition. Boston-based GALY secured $33 million in a Series B round led by Breakthrough Energy Ventures to make a lab-grown cotton alternative with a lower carbon footprint than traditional cotton… TPG Rise Climate acquired Miratech, a Tulsa, Okla.-based company that specializes in managing emissions from engines in hard-to-decarbonize industries.
Milestones. Fort Lauderdale, Fla.-based Community Capital Management crossed $6 billion in assets – on its 25th anniversary.
Powered by AI. Ada Ventures and Concept Ventures led a pre-seed investment round in “YIMBY” property technology startup Tract. The London-based firm uses AI to make it easier and cheaper to find land suitable for development… Fido, which uses AI to underwrite loans to informal and small businesses in Ghana and Uganda, scored $30 million debt and equity funding from FMO, BlueOrchard and other investors.
Renewable energy. Dutch venture capital investor SET Ventures raised €200 million ($263 million) to invest in European clean energy companies… Energix Renewables and Google signed a renewable energy agreement that covers 1.5 gigawatts of solar project development until 2030. Energix will supply electricity and renewable energy credits generated from its solar projects to Google… Last Energy raised $40 million for next-generation nuclear power plants.
Small businesses. HSBC provided Validus with $50 million in debt to fuel small business lending in Indonesia… South African small business lender UsPlus raised 80 million rand ($4.5 million) through a social bond to expand lending to Black-, women- and youth-owned businesses.
