SunCulture, the Kenyan start-up that develops solar-powered water pumps and irrigation solutions for smallholder farmers has secured an investment fund from the EDF Group.
SunCulture improves the productivity of smallholder farmers by selling them affordable solar-powered water pumps and customised irrigation systems bundled with active support and financing.
The new fund, from one of the world’s largest electric utility companies and a global leader in low-carbon energy, joins SunCulture’s existing institutional investors – Energy Access Ventures and Partners Group.
SunCulture is opening up the East African market for EDF to expand its impact across the continent, while EDF will share its experience selling and installing off-grid solutions designed for residential customers and also, its knowledge of Central and West African markets with SunCulture.
EDF will also assist in setting up financing vehicles designed to help farmers afford these solar irrigation solutions under SunCulture’s “pay-as-you-grow” platform.
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“EDFs commitment to partnering with local companies to create lasting impact represents an important shift in the way multinationals are doing business in Africa. We’re excited about this partnership, which gives us the opportunity to work with EDF to increase rural household productivity across the continent,” said Samir Ibrahim, SunCulture’s chief executive officer (CEO) and co-founder.
Also, Marianne Laigneau, the vice president in charge of the International Division at EDF said, “We are proud to invest in a technology company that brings to African smallholder farmers genuinely innovative solutions transforming their lives and fostering economic development in African countries.This partnership enables EDF to enter a new and very promising business line of Off-Grid offerings. Our ambition is to become SunCulture’s partner of reference in their expansion beyond Kenya, especially in countries where EDF already has a strong footprint.”
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