SunCulture, a leader in solar-powered irrigation and agricultural technology for smallholder farmers, recently announced a successful Series B funding round, raising $27.5 million. This significant investment will accelerate the company’s growth and aid in the development of new products designed to empower farmers.
Based in Kenya, SunCulture specializes in enhancing food production for smallholder farmers through innovative climate-smart technologies. These include a digital marketplace tailored for farmers and financial resources to help them thrive. The company has established a strong presence in Sub-Saharan Africa, capturing over 50% of the market share for solar irrigation systems.
Their revolutionary solar-powered water pumps and irrigation systems have dramatically improved farmers’ access to water, reduced labor needs, and increased crop yields, thereby transforming agricultural practices in the region.
The latest funding round attracted a diverse group of international investors, such as Reed Hastings and The Schmidt Family Foundation, along with development-focused entities like InfraCo Africa Limited and Acumen Fund. Returning investors, including EDF Group, Equator, and the Acumen Resilience Agriculture Fund (ARAF), also contributed, reaffirming their confidence in SunCulture’s mission and achievements.
With the fresh capital, SunCulture plans to expand its range of products, venture into new markets, and enhance its technological platform. These efforts aim to boost smallholder farmer productivity and provide them with the necessary tools to become more resilient against climatic adversities.
“This is a pivotal moment for SunCulture, our team, and the farmers we support,” commented Samir Ibrahim, CEO and co-founder of SunCulture. “This investment not only reflects our team’s dedication and hard work but also reinforces our commitment to making agriculture more profitable, sustainable, and environmentally friendly. With this new injection of capital, we are well-positioned to scale our impact and bring our transformative technology to a broader network of farmers globally.”
