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Equator closes $55M fund to bring more private capital to African climate tech
Equator, a climate tech VC firm, closes first fund at $55 million to support seed and Series A startups in energy, agriculture, and mobility.
African venture capital firm Equator has raised $55 million for its first fund, which will back climate tech startups through one of the most difficult and often overlooked phases in their journey: the early stage. Climate tech startups in African countries have to navigate a tougher funding landscape than their counterparts in more developed economies, where governments often subsidize companies working on greener technologies. Listing examples of such solutions, Jamal pointed to electric vehicles that cost less than fuel-powered ones; climate insurance that accurately covers extreme weather; or AI-powered logistics optimization for businesses.
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