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Climate-tech venture capital firm Equator has successfully closed a $55 million fund to support early-stage climate tech startups across Africa. This investment aims to bridge funding gaps, drive sustainable innovation, and enhance the continent’s resilience against climate change.
The fund’s limited partners include British International Investment (BII), Proparco, the Global Energy Alliance for People and Planet, Shell Foundation, and the International Finance Corporation (IFC).
Despite Africa contributing less than 3% of global energy-related CO₂ emissions, the continent remains highly vulnerable to climate change impacts. While climate finance flows to Africa increased by 48%, reaching $43.7 billion in 2021/22, this still falls significantly short of the estimated $3 trillion needed by 2030 to meet climate commitments, according to the Climate Policy Initiative.
Equator’s new fund aims to address part of this gap by investing in early-stage ventures within the energy, agriculture, and mobility sectors—key industries for sustainable economic growth.
The firm has already started deploying capital to promising startups, including:
- SunCulture – A Kenyan company providing affordable, IoT-enabled solar irrigation solutions for smallholder farmers.
- Roam – A mobility startup focused on developing electric motorbikes and buses for clean transportation solutions.
These investments align with Equator’s broader strategy to support climate-focused enterprises that deliver both environmental and economic impact across sub-Saharan Africa.
Equator sets itself apart through a hands-on, collaborative approach, leveraging its team of technologists, operators, and investors to provide strategic guidance beyond financial support.
The firm’s commitment to an equitable climate transition is further reinforced by partnerships with key stakeholders, including a $5 million investment from the IFC to strengthen climate tech innovation across the continent. These collaborations are instrumental in advancing Africa’s sustainable development goals and scaling climate-focused solutions that address the region’s unique challenges.
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