Kenya’s micro-forestry startup, Komaza, has raised US$28 million of a planned US$33 million Series B equity financing. The round of funding was co-led by Novastar LPs AXA Investment Managers and the Dutch development bank FMO. Founded in 2006, by Tevis Howard, Komaza is a tech-enabled, forestry company that provides a platform for small-scale farmers to solve the wood supply crisis. The startup uses AI and satellite data to map existing tree growth and real-time mobile apps on the ground to track farmer progress. With the new funds, Komazo will invest in additional wood manufacturing facilities to aid sustainable building materials. It also plans to add a new direct-to-farmer app to drive enrollment and increase farmer access to best practices. Komaza now plans to expand operations across East Africa and is aiming to plant a billion trees by 2030.
#Africa #Technology #Komaza #TevisHoward
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