Downforce Technologies, a London-based climate tech startup that provides farmers with technological tools to measure soil fertility, has raised $4.2 million to develop new products and expand into new markets, with a focus on Africa.
The funding round was led by Equator VC, an early-stage climate tech-focused venture firm in Africa. Tiverton Agriculture Impact Fund, Dragonfly Enviro Capital, Perivoli Innovations, and the Clean Energy Finance Corporation (CEFC), with investments managed by Virescent Ventures, remain existing shareholders in the company.
“This funding will democratise access to technology, empowering a wider range of people to make data-driven decisions about soil health and climate action,” the company's CEO, Professor Jackie McGrade, said in a statement.
Founded in 2020 and led by Professor Jackie McGrade, Downforce Technologies provides cost-effective remote sensing software that enables farmers to measure soil health in record time. The company also provides tools to plan and execute verified carbon projects, collect and report on-farm emissions data, and implement soil health improvement projects.
Africa accounts for only a small portion of global food production. In 2021, Africa's total food exports were just over $60 billion, while the United States exported $177 billion worth of food in the same year. The continent has more production capacity due to the amount of uncultivated land, but the inability to measure soil fertility also poses a major challenge. Measurements are typically expensive, time-consuming, and carry a high risk of error.
Downforce Technologies is part of a growing group of climate tech startups that include AgroCares, SoilSense, Regen Technologies and EcoPeanut, providing a range of soil carbon measurement, farm management and climate sustainability solutions for farmers in Africa.
“Downforce has successfully deployed a compelling software platform that will act as a catalyst for increased investment in soil organic carbon globally, and particularly in Africa, to ensure food security, promote climate mitigation and ensure resilience to climate change,” said Nijad Jamal, Managing Partner at Equator.
