More money is going to African climate startups, but a huge funding gap remains
NAIROBI, Kenya (AP) - When Ademola Adesina founded a startup in 2015 to offer solar and battery subscription packages to individuals and businesses in Nigeria, it was a lot harder to raise money than it is today.
Climate tech was new to Africa, the continent was a young destination for venture capital money, there were fewer financiers to approach and less money available, he said.
It took him a year of "running around and searching" his networks to raise his first amount - just under $1 million - from venture capital firms and other sources. "Everything was a learning experience," ...