In 2022, CleanTech climbed five spots to secure the second highest rank among tech-enabled companies that effectively raised venture capital.
CleanTech is gaining attention from impact investors who are motivated to meet Africa’s sustainable development goals. CleanTech refers to companies that harness and develop technology to enhance environmental sustainability and reduce the negative impact of human activities on natural resources.
CleanTech is a unique sector offering promising investment opportunities, and its activities are expected to continue its ascent in forthcoming years as African entrepreneurs provide innovative, effective and sustainable solutions to pressing socio-economic challenges.
CleanTech notable deals in 2022 include a US$ 19 million Series C funding for Kenyan sanitation and waste management company Sanergy, and a US$ 6.2 million Series A funding for CleanTech’s metals recycling company Romco Group.
These investments reflect a growing trend of investors who seek to support companies that prioritize sustainable practices and environmental responsibility. CleanTech is proving to be a promising sector for investors looking to make a positive impact while generating returns.
This is contained in an ecosystem report done by Enterprise Bureau to access Venture Capital Firms that have trouped in Africa from the year 2000 and the areas they are mostly operating in.
For startups and entrepreneurs, venture capital can provide a unique opportunity to turn innovative ideas into successful businesses. By providing support and strategic guidance, venture capital firms can help entrepreneurs build strong teams and develop a clear path to success.