Kenyan climate startup Bio-Logical has raised $1.3 million to build out its Mount Kenya biochar plant. This would boost efforts to improve Kenyan smallholder farmers’ standard of living and expand production capacity.
CrossBoundary, Redshaw Advisors and other existing investors, including the Steyn Group, led the funding round.
Rory Buckworth, co-CEO of the company, expressed enthusiasm about the recent funding round, highlighting its significance in driving growth and expansion. He emphasised that this investment will enable the company to scale up its Mount Kenya facility, a crucial step towards increasing its impact and reach.
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With the funding in place, the company is now poised to replicate their successful model in new locations. Buckworth shared ambitious plans to establish three new sites across Kenya over the next 18 months, a move that will significantly amplify their presence and contribution to the region.
This expansion will enable the company to broaden its scope and make a more substantial impact, bringing them closer to achieving their long-term goals.
Bio-Logical Climate Startup’s Milestone in November 2023
The firm raised $1 million in seed money for its first location in the nation in November 2023. By 2030, it also aimed to absorb one million tonnes of carbon dioxide per year and assist one million smallholder farmers.
Bio-Logical, which was founded in 2022 by Philip Hunter and Rory Buckworth as CEO, employs technology to capture carbon from agricultural waste and turn it into a potent fertiliser that strengthens climate resilience.
In addition to sequestering carbon, Hunter noted that the company creates cheap fertilisers that replenish the soil, increasing yields and enhancing the climate resilience of Kenyan farmers.
He emphasised that although they bear little blame for its origins, smallholder farmers are particularly affected by climate change.
The CEO of Redshaw Advisors, Louis Redshaw, stated that they are happy to be a part of Bio-Logical’s most recent fundraising round, which will help farmers who are in need of climate resilience solutions while also advancing the development of high-integrity carbon removal credits.
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Climate Investment Strategies for Positive Impact
This investment complements their work with corporations committed to positive climate action through high-quality projects in countries requiring decarbonization support.
The Big Deal, an examination of startup funding data tracker Africa, reports that as of now in 2024, $325 million has been invested in African climate tech businesses.
It was noted that over the last five years, investments in climate technology have increased significantly, from $340 million in 2019 to $344 million in 2020, $613 million in 2021, $959 million in 2022, and $1.1 billion in 2023.
At 53%, Kenya received the largest amount of funding for climate tech startups in Africa, according to Statista. Following with percentages of 11% and 9%, respectively, were Nigeria and Ghana.
Furthermore, Kenya is reported to have the most climate tech start-ups, raising more than $100,000 between 2019 and 2023.