Bio-Logical, a Nairobi, Kenya-based climate tech company, raised $1m in Seed funding.
The round was led by Steyn Group alongside angel investors Rob Konterman, Luke Calcott-Stevens and Jochem Wieringa.
The company intends to use the funds to go towards the development of its first Kenya site which will pave the way for its expansion throughout the region to support 1 million smallholders and sequester 1 million tonnes of CO2 annually by 2030.
Led by CEO Rory Buckworth, Co-Founder, Bio-Logical plans to create a biochar production facility to transform over 30,000 tonnes of agricultural waste a year into biochar, sequestering 25,000 tonnes of CO2. This process will generate carbon credits, the revenue from which will be used to subsidise its resilience building fertiliser for smallholder farmers, boosting yields and reducing fertiliser costs.
FinSMEs
15/11/2023