ImpactAlpha’s deal news coverage for the week:
Agrifood investing. Brazil’s Mágio raised $1.6 million from impact investment firm CBKK to expand its range of Amazonian chocolate products and develop blockchain-based tracing for its supply chain… Future Cow, also in Brazil, secured early funding for its animal-free milk, which is made through precision fermentation… Lafayette Square provided debt financing for Boston-based Genuine Foods, a food service company providing fresh food for schools, healthcare facilities and senior living communities in 16 states… The EU-funded Agriculture Financing Initiative provided a €2.2 million ($2.5 million) loan to Complete Farmer, a digital marketplace for agricultural commodities and inputs, to set up rural fulfilment centres in northern Ghana.
Artificial intelligence. Aedifion raised €17 million ($20 million) in Series B funding for its AI-powered software that helps building managers reduce their carbon footprint… Norrsken Foundation committed €300 million to European startups using AI for impact.
Community finance. Boston Ujima Project, through its democratically-governed Ujima Fund, will make a $300,000 investment in the Boston Neighborhood Community Land Trust for community-led affordable housing.
Education finance. Blue Earth Capital led a $23 million Series B funding round for Zeelo, a London-based startup that optimizes bus and shuttle routes for employers and schools. Zeelo is looking to expand to the US.
Energy infrastructure. Berlin-based Ostrom, a subscription-based household energy provider that offers green energy plans, raised €20 million ($22.9 million) from Eneco Ventures, SE Ventures and others… Echandia, a Swedish maker of battery systems for electric maritime vessels, raised $34 million from S2G Investments, Alantra’s energy transition fund, Klima, and others… UK’s renewable energy infrastructure investor Bagnall Energy acquired peer Downing Renewables & Infrastructure Trust in a £175 million ($234 million) deal.
Energy transition. Austin-based private equity firm Greenbelt Capital closed its third fund at $1 billion to invest in energy transition and efficiency solutions… Nuveen reupped debt financing with energy services firm Budderfly… Octopus Energy Generation raised $60 million for clean energy in Africa… Wetility, a subscription-based rooftop solar provider in South Africa, raised 500 million rand ($27 million) in debt and equity from South African solar investor Jaltech.
Inclusive finance. Apis & Heritage closed $85 million and partnered with Calvert Impact to finance employee-led buyouts… Somalia’s KIMS Microfinance received a $1 million loan from Acumen’s Hardest to Reach energy access initiative to expand off-grid solar financing for 17,000 people and more than 400 businesses. The loan was designed to be compliant with Islamic finance principles.
Return on inclusion. Dutch impact investor Triple Jump invested $12.5 million in TBC Bank Uzbekistan to finance Uzbekistan’s women-led businesses… Nathan Cummings Foundation backed Fibers Fund to support textile entrepreneurs… Oakland-based Sierra Club Foundation will move $10.5 million to women-led Nia Impact Capital and Xponance, a Black-owned investment firm, after dropping BlackRock as its asset manager. The switch was made after BlackRock refused “to address the systemic financial implications of the climate crisis in its investment and stewardship decisions,” the foundation shared.
Smallholder farmers. A to Z Impact invested in Swahili Honey, an international supplier of honey and beeswax sourced from small-scale beekeepers in Tanzania… Upaya backed Country Chicken to create stable income for rural India’s poultry farmers.
Waste to value. Finland-based Hailia, which upcycles fish parts that are typically wasted in seafood processing, secured €1.8 million ($2 million), backed by Finnish seafood processor Kalavapriikki… Spain’s Ecoalf, which develops fabric from recycled materials like fishing nets and used tires, secured €7 million ($8.1 million) from Impact Bridge’s private debt fund for Spanish and Portuguese social enterprises… With mobile app and virtual currency, Regenize incentivized waste recycling in South Africa.
