This summer, we welcomed two new companies to the BSP Fund portfolio
: OnFarm Systems
. Both are innovative software companies with the potential to catalyze their respective high-growth markets.
provides software as a service to growers in the U.S. looking to visualize all of their farm's data in one place. This helps growers make better decisions that are driven by data. For a refresher on the impact that technologies like this have in agriculture, check out our blog post.
Growing Energy Labs, Inc., a.k.a. GELI
, has created the “Energy Operating System” (EOS) to manage and optimize energy storage. We firmly believe in the importance of energy storage for a number of reasons, which you can read about here
. GELI’s technology is a crucial component to developing standards for the installation of renewables, microgrids, and other decentralized energy alternatives around the world.
We are pleased to announce that the BSP Fund has closed at $20 million USD. Look out for a formal announcement in the coming days.
We are also actively fundraising for our Impact Factoring Fund
. We have signed term sheets with several clean energy enterprises in East Africa and have purchases planned for September.
To learn about the benefits of the Impact Factoring Fund for enterprises or investors, please contact us at firstname.lastname@example.org
Our partnership with the Safaricom AppWiz Challenge
is off to a great start and we were excited to receive over 270 initial applications. More than 40 industry experts went through the applications and selected Semi-finalists. They then competed for spots as Finalists at our Hack-a-thon on the 27th and 28th of July at Strathmore University. Incubation for the Finalists began last week! They are competing for a grand prize of 3.7M KSH or roughly $45K USD. Stay tuned for more updates and read why we are working with Safaricom here
Until next time,
The Invested Development Team