Downforce Technologies, a pioneering climate technology company based in London, has successfully secured $4.2 million in funding to enhance its product offerings with a focus on the African agricultural sector and to broaden its market reach.
The investment round was spearheaded by Equator VC, a venture capital firm specializing in early-stage investments in the climate technology sector in Africa. Alongside Equator VC, Downforce Technologies is backed by a consortium of investors including Tiverton Agriculture Impact Fund, Dragonfly Enviro Capital, Perivoli Innovations, and the Clean Energy Finance Corporation (CEFC), with the latter’s investment being managed by Virescent Ventures. These investors continue to hold equity stakes in the company.
Professor Jacquie McGlade, the CEO of Downforce Technologies, expressed the company’s commitment to making its innovative technology widely accessible. By doing so, the company aims to empower a broader range of users to make informed decisions based on data, thereby promoting soil health and contributing to climate change mitigation efforts.
Founded in 2020 and under the leadership of Professor McGlade, Downforce Technologies has been at the forefront of providing affordable and efficient remote sensing software solutions. These solutions enable farmers to quickly assess the health of their soil. Additionally, the company offers a suite of tools designed for the planning and implementation of carbon credit projects, the collection and reporting of agricultural emissions data, and the execution of initiatives aimed at enhancing soil health.
Despite Africa’s vast tracts of uncultivated arable land, the continent accounts for only a minor portion of the world’s total food production. In 2021, Africa’s food exports amounted to just over $60 billion, in stark contrast to the United States, which exported food worth $177 billion in the same period. One of the significant challenges hindering Africa’s agricultural productivity is the difficulty in accurately measuring soil fertility, a process that is often costly, time-consuming, and prone to errors.
Downforce Technologies is among a cohort of innovative climate technology startups—including AgroCares, SoilSense, Regen Technologies, and EcoPeanut—that are providing a range of solutions to address soil carbon measurement, farm management, and climate sustainability for African farmers.
Nijhad Jamal, the Managing Partner at Equator VC, lauded Downforce Technologies for its groundbreaking software platform. He emphasized the platform’s potential to stimulate further investment in soil organic carbon, particularly in Africa. This investment is seen as crucial for ensuring food security, advancing climate change mitigation, and bolstering resilience against the impacts of climate change.
