A London-headquartered climate technology startup, Downforce Technologies has raised $4.2 million in funding to develop a soil fertility assessment tool in Africa.
The amount was raised by a climate technology startup that provides technology tools to farmers, to develop new products targeted at Africa and enter new markets.
Equator VC, a venture capital firm specializing in early-stage investments in Africa’s climate tech industry, led the funding round for the climate tech startup.
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In addition to Equator VC, Downforce Technologies has backing from a group of investors that includes Clean Energy Finance Corporation (CEFC), Perivoli Innovations, Dragonfly Enviro Capital, Tiverton Agriculture Impact Fund, and Virescent Ventures who managed the latter investment with registered investors still holding shares in the business.
Downforce Technologies CEO, Professor Jacquie McGlade, reiterated the company’s dedication to ensuring that its cutting-edge technology is widely available.
By doing this, the company hopes to enable more people to make data-driven decisions, support soil health, and help the fight against climate change.
“This funding allows us to democratize access to technology and empower a broader audience to make data-driven decisions for soil health and climate action,” McGlade said in a statement.
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