Solar firm Sun Culture secures $5 million investment from WaterEquity in Kenya
SunCulture, a pioneering company based in Africa, has secured an investment of $5 million from WaterEquity, a global asset manager dedicated to improving water access for underserved communities. This investment is part of WaterEquity's new Water and Climate Resilience Fund. SunCulture, known for its solar-powered irrigation solutions and agricultural technology, has more than 50% market share for smallholder farmer solar irrigation systems in Sub-Saharan Africa. The company's solar-powered water pumps offer an affordable alternative to diesel and manual water pumps, making a significant impact on rural communities in Africa where over 80% of the rural population uses sources that require collecting water outside their homes. More than 90% of SunCulture's customers use their solar-powered pumps for drinking, cooking, and cleaning. The new investment will enable SunCulture to scale its operations and deepen its impact, aiming to expand water access to millions of farmers and their families in rural Africa. The Water & Climate Resilience Fund, managed by WaterEquity, is designed to invest in decentralized, resilient solutions that can scale equitably. This fund brings together a diverse group of global investors, including Microsoft, Starbucks, Xylem, Ecolab, Reckitt, Gap Inc, and others. Aleem Remtula, head of PE and infrastructure investments at WaterEquity, stated that the investment reflects a milestone in the firm's new strategy to support projects and companies addressing critical infrastructure gaps and building long-term resilience against increasing water news. Samir Ibrahim, CEO and co-founder of SunCulture, is proud that WaterEquity's new investment marks the first investment from their new fund. He expressed his gratitude for WaterEquity's commitment to their mission of expanding water access to smallholder farmers, reducing labor costs, and increasing crop yields. SunCulture's solar-powered water pumps and irrigation systems have been transformative for smallholder farmers, offering a sustainable and affordable solution to the water collection burden that primarily falls on women and girls in rural Africa. With WaterEquity's investment, SunCulture is one step closer to achieving its goal of providing reliable water access to millions of farmers in Africa.
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