SunCulture Secures $27 Million in Funding to Expand Solar-Powered Irrigation in Africa
Apr 11, 2024
Enrich Africa
2 minute(s) Read
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SunCulture, a pioneering solar irrigation company, has secured a $27.5 million investment as part of its Series B financing round. This funding was facilitated by InfraCo Africa’s investment arm and includes a combination of equity, debt, grants, and carbon financing. With this latest influx, SunCulture’s total funding has reached $65 million since its inception. The company aims to raise a total of $219 million to deploy 274,000 solar irrigation systems across Kenya.


CEO Samir Ibrahim expressed enthusiasm about the collaboration with investors, focusing on shared goals of enhancing agricultural productivity. In sub-Saharan Africa, many farmers rely on rainfed agriculture or use diesel and petrol pumps, which are not only costly but also harmful to the environment.


SunCulture introduces a more sustainable solution by offering small-scale farmers solar-powered water pumps. These pumps, which are capable of displacing up to 1,200 liters of water per hour, are designed for smallholdings ranging from 1-3 acres. The innovative company helps offset up to half the cost of these systems through the sale of carbon credits, making them an affordable alternative to traditional fuel-based pumps.


READ ALSO - Verod-Kepple Africa Ventures Raises $60 Million to Invest in 21 Emerging African Companies


Operating under a “Pay-As-You-Grow” model, SunCulture has expanded beyond Kenya to Uganda and Ivory Coast, with distribution agreements in place in Ethiopia, Zambia, and Togo.


The need for such technology is critical as only about 4% of the 700 million Africans dependent on small-scale farms have access to irrigation. Ibrahim highlights the transformative potential of irrigation technology, noting that it is an "old, unsexy technology" but one that could quintuple yield outputs.

Apr 11, 2024
Enrich Africa
2 minute(s) Read
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SunCulture
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Funding

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