Red Hastings, co-founder of Netflix, and Eric Schmidt, former chief executive of Alphabet, have participated in a funding round for a Kenyan-based solar irrigation startup, SunCulture. The startup announced that the two billionaires, alongside other investors such as InfraCo Africa and Acumen Fund, have collectively invested US$27 million in the Nairobi-based company.
SunCulture specializes in supplying small solar-powered water pumps to small-scale farmers, with the cost subsidized by the sale of carbon credits. This innovative approach enables farmers to replace diesel-powered pumps, thereby boosting yields in previously non-irrigated fields.
Operating in Kenya, Uganda, and Ivory Coast, SunCulture has distribution agreements in Ethiopia, Zambia, and Togo. Red Hastings expressed his support for the company’s mission, emphasizing its role in helping farmers increase food production.
The startup estimates that only 4% of the 700 million Africans living on small-holder farms have access to irrigation, resulting in lower yields and vulnerability to dry weather. To date, SunCulture has sold 47,000 units of its solar-powered irrigation systems, which require minimal power consumption and offer significant cost savings compared to traditional diesel and petrol pumps.
With the Series B funding round totaling US$65 million, SunCulture aims to raise a total of US$219 million to install 274,000 systems in Kenya alone. This funding will be sourced from equity, debt, grants, and carbon financing. Additionally, the company plans to expand its operations across the continent, with pilot programs already underway in several countries.
SunCulture’s CEO, Samir Ibrahim, highlighted the company’s ambition to diversify its services beyond irrigation, including soil testing and insurance for farmers. Previous investors in SunCulture include EDF International SAS, DPI Energy Ventures, Equator Africa Fund, and Energy Access Ventures Fund.
