InspiraFarms reportedly raises over $1 million for off-grid energy cold storage projects in Africa. Kenya-based cooling solution provider has just recently secured $1.09 million in investment in a bid to support its off-grid energy cold storage projects across the continent of Africa.
InspiraFarms Raises Over $1 Million
Founded in 2012, InspiraFarms Cooling is dedicated to reducing food waste and supporting rural communities. The company offers innovative pre-cooling and cold chain technology services to agribusinesses, aimed at reducing operational costs and significantly extending the shelf life of perishable foods.
In Africa, where only about 5% of fresh produce is currently integrated into the cold chain, there’s a staggering loss of 30-50% in fresh produce. To combat this issue, InspiraFarms provides a range of temperature-controlled solutions, including warehouses, packhouses, slaughterhouses, cold rooms, precoolers, freezers, and specialized storage for long-term potato preservation.
A Key Feature of InspiraFarms’ Products
A key feature of InspiraFarms’ products is their compatibility with renewable energy sources. Some of these solutions can operate entirely off-grid, making them particularly suitable for remote and rural areas. Additionally, the technology incorporated into these products enables them to achieve up to 25% energy savings, enhancing their efficiency and sustainability. This approach not only aids in reducing food waste but also contributes to the empowerment of rural communities by improving access to essential food preservation technologies.
InspiraFarms Cooling’s Presence In The Agricultural And Food Distribution Sectors
InspiraFarms Cooling has established a significant presence in the agricultural and food distribution sectors. The company caters to a diverse clientele, including food distributors, exporters, agribusinesses, and third-party logistics providers. Demonstrating the reach and effectiveness of their solutions, InspiraFarms Cooling has successfully installed hundreds of units across fifteen countries. This widespread adoption underscores the company’s impact in enhancing food preservation and reducing waste on a global scale.
CEI Africa’s Investment in InspiraFarms Cooling
CEI Africa’s investment in InspiraFarms Cooling is notable as it represents the first investment under the Foundation’s Crowdfunding window. This move signifies a new direction in the Foundation’s investment strategies, focusing on innovative and impactful ventures.
Additionally, InfraCo Africa’s investment in InspiraFarms Cooling in 2023 marks its inaugural venture into ‘first-mile’ cold storage solutions. Omar Jabri, Head of Business Development at InfraCo Africa, confirmed this strategic investment, highlighting the company’s expansion into new and vital areas of infrastructure development.
InspiraFarms Ongoing Negotiations to Acquire the African Business of Celtics Cooling
In a significant development in November 2023, InspiraFarms announced its ongoing negotiations to acquire the African business of Celtics Cooling. This acquisition aims to secure a substantial market share in Africa for InspiraFarms. The plan includes integrating Celtics Cooling’s business operations into InspiraFarms’ existing infrastructure in key African markets such as Ethiopia, Ghana, and Kenya. This expansion strategy reflects InspiraFarms’ commitment to strengthening its presence and service offerings across the African continent.
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