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Kenya Social Enterprise Startup Raino Tech4Impact Receives Investment from Katapult Ocean Accelerator

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Kenya Social Enterprise Startup Raino Tech4Impact Receives Investment from Katapult Ocean Accelerator

Raino Tech4Impact, a social enterprise that is leveraging technology to provide solutions in health, agriculture has received undisclosed investment from Katapult Ocean.

Katapult Ocean invests in and supports startups with a positive impact on our oceans.

Raino Tech4Impact was selected as one of twelve global companies to participate in the second accelerator cohort taking place in Oslo from November 25th 2019 to February 20th 2020. In the selection process, Katapult Ocean had a pipeline with more than 850 startups to select from. 

“We delighted to have been selected to join Katapult Ocean, Katapult Ocean is one of the key blue ecosystem players we have been working to establish long term partnership, they offer value in addition to their cash investment, we look forward to this partnership,” said Francis Nderitu, the Managing Director. 

Raino Tech4Impact provides last-mile logistics for the small scale producers who can use their off-grid KIC Cool Boxes, helping them have a longer retention period while reducing post-harvest losses. Their facilities are accessible and affordable to farmers since they are based on PAYGO model and shared services.

Read: Kenya-based Micro-Insurtech Startup Turaco Closes US$1.2M Seed Investment

“Post-harvest loss in East Africa is a huge and overlooked problem area. We were impressed by the passionate and multidisciplinary team at Raino Tech 4 Impact team, who are addressing this challenge directly through an innovative and scalable business model,” said Maren Hjorth Bauer, CEO and Co-founder of Katapult Ocean.

The startup won inaugural Africa’s Notable Startup Pitch Event 2019 banking US$100,000 equity investments. The pitch event which had been organized by Samurai Incubate Africa and Growth Africa sought to provide seed-stage or growth stage funding to startups in finance, logistics, insurance, healthcare and mobility fields. 

The other startups selected to take part in the programme are ARC Marine (UK), Algalife (Israel), Hydrolift Autonoumous City Ferries (Norway), Innomar (Norway), Marimetrics (Canada), NautixTechnologies (Denmark), OceaniumPinovo (Norway), Saathi (India), Sanoor Technologies, and Tracio (Iceland).

 

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