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A London-headquartered climate tech startup, Downforce Technologies has raised the sum of $4.2 million to develop soil fertility assessment tools for Africa.
The sum was raised by the climate tech startup that gives farmers tech tools, in order to develop new goods targeted at Africa and enter new markets.
Equator VC, a venture capital firm that specializes in early-stage investments in Africa’s climate technology industry, led the funding round for the climate tech startup.
READ ALSO:Scientists develop fully edible robots with organic materials
In addition to Equator VC, Downforce Technologies has the support of a group of investors that includes the Clean Energy Finance Corporation (CEFC), Perivoli Innovations, Dragonfly Enviro Capital, Tiverton Agriculture Impact Fund, and Virescent Ventures managing the latter’s investment with the listed investors still possessing stock in the business.
The CEO of Downforce Technologies, Professor Jacquie McGlade, reaffirmed the company’s dedication to ensuring that its cutting-edge technology is broadly available.
By doing this, the business hopes to enable a larger group of people to make data-driven decisions, supporting soil health and aiding the fight against climate change.
“This funding allows us to democratise access to the technology and empower a wider audience to make data-driven decisions for soil health and climate action,” McGlade said in a statement.
The post Downforce Technologies raises $4.2m to develop soil fertility assessment tools for Africa appeared first on Latest Nigeria News | Top Stories from Naomisophyblog.
