Climate tech startup Downforce Technologies raises $4.2 million

Downforce Technologies, a London-based climate tech startup that provides farmers with technological tools to measure soil fertility, has raised $4.2 million to build new products focused on Africa and expand into new markets.

The funding round was led by Equator VC, an African early-stage venture capital firm focused on climate technology. Tiverton Agriculture Impact Fund, Dragonfly Enviro Capital, Perivoli Innovations and the Clean Energy Finance Corporation (CEFC), whose investment is managed by Virescent Ventures, will remain existing shareholders in the company.

“This funding will allow us to democratize access to the technology and empower a broader audience to make data-driven decisions for soil health and climate action,” Professor Jacquie McGlade, the company’s CEO, said in a statement.

Downforce Technologies, led by Professor Jacquie McGlade, was launched in 2020 and provides cost-effective remote sensing software that allows farmers to measure soil health in record time. The company also provides tools for planning and executing verified carbon projects, collecting and reporting data on farm emissions, and implementing projects to improve soil health.

Africa contributes only a small share of global food production. In 2021, Africa’s total food exports amounted to just over $60 billion, while the US exported $177 billion worth of food in the same year. While the continent has the capacity to produce more given its undeveloped arable land, the inability to measure soil fertility also poses a major challenge. Measurements are usually expensive, time-consuming and have a high risk of error.

Downforce Technologies is part of a growing group of climate technology startups – AgroCares, SoilSense, Regen Technologies and EcoPeanut – offering various solutions for soil carbon measurement, agricultural management and climate sustainability for African farmers.

“Downforce has successfully introduced a compelling software platform that should act as a catalyst for increased investments in soil organic carbon globally, and especially in Africa, to ensure food security, promote climate change mitigation and build resilience to climate change guarantee,” said Nijhad Jamal, Managing Partner at Equator.