Deal Street

African Startup Funding Tracker


*Data updated daily at 18:00 EAT

Seven African Startups To Receive USD 385 K To Develop Solutions For The Blue Economy
Seven African Startups To Receive USD 385 K To Develop Solutions For The Blue Economy

Climate resilience venture launcher Triggering Exponential Climate Action (TECA) has announced the selection of seven startups to each receive USD 55 K in funding to advance their solutions for the blue economy in Africa. Each selected startup will receive USD 27.5 K in seed capital and USD 27.5 K in hands-on venture building support to progress financial and tech-enabled solutions that bolster the climate resilience of communities and ecosystems in and around the oceans, lakes, and rivers across the Eastern region of Africa.

The TECA program, managed by BFA Global and supported by FSD Africa, was created to accelerate the development of climate-resilient solutions to protect and sustain the environment and vulnerable communities. The startup founders were selected following their participation in TECA’s fellowship program, where they were supported to create ideas for companies in the blue economy, build teams, and form companies. The startups are from Kenya, Egypt, South Africa, Uganda, Zimbabwe and Tanzania.

The startups include AquaTrack, a data-driven solution for sustainable aquaculture production; Carboni Bank, a community-centered platform for tourists to offset their carbon emissions and support local climate initiatives; ConserVate, which utilizes innovative digital technology to build local capacity for monitoring reporting and credible verification (MRV) of conservation impact; and Mwani Blu, which is building a seaweed marketplace with high-level traceability. The cohort is completed by RegisTree, which is empowering coastal communities to be agents of climate change mitigation by facilitating their role in mangrove restoration and protection; Vua Solutions, a fintech company seeking to provide affordable and responsible financial services to people working in the blue economy; and Wezesha Aqua Farms, which is seeking to address the dwindling wild capture fisheries stocks that negatively impact the livelihoods and socioeconomic status of local fishing communities around the great lakes region in Eastern Africa.