Kenyan social enterprise Raino Tech4Impact has received investment after being selected into the Katapult Ocean accelerator.
Founded in 2014, Raino Tech4Impact is a social enterprise leveraging technology as an enabler to empower African communities, that has developed solutions in the health, agriculture, sports and green energy spaces.
The startup, which raised US$100,000 in equity investment after winning a pitch competition organised by Samurai Incubate Africa and Growth Africa earlier this year, is one of 12 startups from across the world to be selected into the Oslo-based Katapult Ocean, which invests in and helps build and scale profitable businesses with a positive impact on the ocean.
Raino has been picked for the way it is leveraging technology to decentralise and democratise cold-chain access in fisheries and aquaculture in East Africa, reducing cost and entry barriers. The programme kicked off last month, and concludes in February, and received 850 applications.
“We are delighted to have been selected to join Katapult Ocean. Katapult Ocean is one of the key blue ecosystem players we have been working to establish long-term partnerships with; they offer value in addition to their cash investment. We look forward to this partnership,” said Raino managing director Francis Nderitu.
“Post-harvest loss in East Africa is a huge and overlooked problem area. We were impressed by the passionate and multidisciplinary team at Raino Tech4Impact team, who are addressing this challenge directly through an innovative and scalable business model,” said Maren Hjorth Bauer, chief executive officer (CEO) and co-founder of Katapult Ocean.
The other startups selected to take part in the programme are ARC Marine (UK), Algalife (Israel), Hydrolift Autonoumous City Ferries (Norway), Innomar (Norway), Marimetrics (Canada), Nautix Technologies (Denmark), Oceanium, Pinovo (Norway), Saathi (India), Sanoor Technologies, and Tracio (Iceland).