BY TOM JACKSON
Kenyan company SunCulture, a provider of solar power systems, water pumps and irrigation systems for smallholder farmers, has closed a Series A investment round of US$14 million to help it accelerate sales.
SunCulture offers solutions tailored to smallholder farmers, combining technology with pay-as-you-go (PAYG) financing and value-add services. Claiming to be the first company to commercialise solar-powered irrigation in Africa, SunCulture currently reaches customers across Kenya, Ethiopia, Uganda, Zambia, Senegal, Togo, and Ivory Coast.
The US$14 million Series A round was led by Energy Access Ventures (EAV), a previous investor in SunCulture, and joined by Électricité de France (EDF), which also backed the company last year and in 2018. Acumen Capital Partners (ACP) and Dream Project Incubators (DPI) complete the investor roster.
With these funds, SunCulture is in a position to accelerate direct sales in Kenya, continue to expand internationally, and fund existing product improvements and new product innovation.
“Now more than ever, scaling access to clean energy and water is critical for food security, smallholder farmer livelihoods, and climate resilience. This is essential to the wellbeing of rural households, as well as farmers’ ability to support themselves in uncertain times. This equity raise puts us in a position to dramatically accelerate our growth and international expansion. We’re thrilled to work with this phenomenal coalition of investors, who have a deep understanding of our business and share our commitment to reaching underserved communities,” said Samir Ibrahim, SunCulture’s chief executive officer (CEO) and co-founder.