Factor[e] Ventures

Factor[e] Ventures is a venture capital firm established in 2003, headquartered in Fort Collins, Colorado, with an additional office in Nairobi, Kenya. The firm focuses on early and seed-stage investments in emerging markets, particularly in East Africa and India, although it is open to opportunities in other regions. Factor[e] Ventures targets disruptive technologies that address critical challenges in energy, agriculture, mobility, waste, and sanitation. The firm typically invests between 250,000 and 750,000 in equity to support innovative solutions that promote sustainable development. By bridging the gap between philanthropic and commercial investors, Factor[e] Ventures aims to foster market-driven approaches to de-carbonized development in some of the world's fastest-growing markets.

Morgan DeFoort

Co-Founder and Managing Partner

Lyndsay Holley Handler

Partner and Chief Venture Builder

23 past transactions

SunFi

Seed Round in 2023
Developer of an energy financial technology platform designed to provide information on payment plans for solar installations. The company's platform helps to provide personalized payment plans, installation support, after-sale service, and a wide range of repayment plans along with a tracker for schedules and invoice downloads, enabling users to access payment structures that match their needs.

Beacon Power Services

Seed Round in 2022
Beacon Power Services is a company based in Lagos, Nigeria, specializing in energy management solutions for commercial and industrial facilities. Founded in 2013, the company develops comprehensive power generation and management plans by utilizing real-time electricity usage data. This approach allows for optimal generator sizing, peak shaving, and the implementation of automation and appliance upgrades. Additionally, Beacon Power Services focuses on electrical redesign, process management, and the installation of renewable energy sources, particularly solar projects, to enhance energy efficiency and reduce costs. The company's software also monitors diesel generator performance, helping clients eliminate diesel pilferage and further decrease energy expenses.

Roam

Seed Round in 2021
Opibus is an e-mobility manufacturing and development company aiming on accelerating a transition to sustainable mobility in emerging markets. The company has headquarters in Stockholm, Sweden and Nairobi, Kenya with a team of >65 persons. The products developed cover proprietary EV powertrains (i.e. conversion systems), electric motorcycles, various types of power generation systems and charging infrastructure. Products have been manufactured and deployed in all customer segments since 2017 in various markets.

Otipy

Series A in 2021
Otipy is an emerging Indian startup and the social commerce venture of farm-to-fork agri-tech startup Crofarm. The platform aims to connect farmers directly to their customers through online channels and vice versa. The goal of the platform is to provide fresh produce directly from the farm, using something called demand harvesting. By using AI-based demand prediction tools, the platform collects historical data to predict the demand for products. This is then used to procure just the right amount of produce, facilitating on-demand harvesting, and thereby ensuring delivery of fresh produce on the same day. Moreover, this also precludes the wastage of food items.

60Hertz

Series A in 2021
60Hertz provides a Maintenance Management Software platform designed specifically for people managing remote energy assets such as microgrids.

SENTRY

Seed Round in 2021
SENTRY is a Canada-based company serving a global customer base with its biological monitoring platform designed to provide real-time insights to operators enabling them to optimize water and wastewater treatments.

Betteries

Seed Round in 2021
Betteries is a company that specializes in providing mobile and affordable power solutions through its multipurpose power systems. Each system can store between 3 kWh and 12 kWh of energy and is designed for fast charging, delivering up to 5 kW of both DC and AC power. The modular configuration of Betteries systems allows for horizontal or vertical stacking, and they can be charged using various energy sources. Equipped with smart electronics, including Wi-Fi and GPS, these systems can be remotely monitored and controlled via an IoT platform. Betteries is committed to sustainability, offering battery-as-a-service solutions that focus on recycling and reducing costs for customers. Their products cater to diverse applications such as e-mobility, off-grid productive use, and on-grid backup power, while adhering to circular economy principles.

S4S Technologies

Venture Round in 2020
S4S Technologies Private Limited, founded in 2008 and based in Mumbai, India, specializes in designing and manufacturing food processing machines, such as dehydrators and freeze dryers. The company's product lineup includes the Solar Conduction Dryer, HaldiTech, SmartDry, FrostDry, and Solar Grain and Seed Dryer, which are utilized to produce a variety of processed food items, including dehydrated vegetables, fruit candies, and powders. S4S Technologies also offers private labeling and contract processing services, catering to the needs of farmers and food companies. By leveraging technology and collaborating with partner organizations, S4S aims to create a sustainable supply chain for high-quality processed food products.

Clean Crop Technologies

Seed Round in 2020
Clean Crop Technologies, Inc. specializes in innovative food processing technology aimed at reducing molds, toxins, and pests in grains and nuts. By utilizing a method that combines air and electricity to create ionized gases, the company effectively removes harmful substances without compromising food quality. This technology not only eliminates molds and pests but also extends the shelf life of perishable foods. Founded in 2020 and headquartered in Haydenville, Massachusetts, Clean Crop Technologies is focused on translating advanced research into commercial-scale solutions for the global grain and nut industries.

60Hertz

Seed Round in 2020
60Hertz provides a Maintenance Management Software platform designed specifically for people managing remote energy assets such as microgrids.

Redavia

Venture Round in 2019
Redavia GmbH is a Munich-based company that provides rental solar farms for businesses and communities in East and West Africa. The company specializes in offering solar generation and energy storage modules tailored for various sectors, including agro-food processing, mining, manufacturing, hospitality, and utilities. Redavia's system is designed to be pre-configured, allowing for easy shipping, setup, scaling, and redeployment. This approach enables businesses to access a cost-effective and reliable clean energy solution with minimal upfront investment and technical expertise. By focusing on solar energy, Redavia aims to promote sustainable development in the regions it serves.

Ampersand

Convertible Note in 2019
We catalyze and power mass market electric mobility. By supplying the battery swap network and operating system we make sustainable mobility rapidly accessible and affordable for developing markets, to improve livelihoods and the environment. With over a million km already covered by e-motorcycles in Africa using our plug & play powertrain and energy network, we are Africa's leading light e-mobility startup.

Ferntech

Seed Round in 2019
Ferntech GMBH is a company based in Crailsheim, Germany, that specializes in designing and manufacturing microgrid monitoring and control systems. Founded in 2016, the company offers its Universal Monitoring and Control (UMC) solution, which facilitates the interconnectivity of various components, cloud servers, and software platforms. This technology is aimed at power system operators and integrators, enabling them to remotely monitor and control multiple off-grid and hybrid power systems efficiently. Ferntech's UMC solution utilizes logic-based programming and visual programming tools, allowing users of varying technical skill levels to enhance the performance of their grids. The platform centralizes data collection, preventive maintenance tasks, and reporting into a single web-based dashboard, ultimately reducing maintenance costs and improving scalability for its clients.

Crofarm

Seed Round in 2019
Crofarm aims to make a supply chain that supports farmers and provides businesses with freshest produce in the most efficient manner. At Crofarm, one gets a hands on learning experience and skill development at a place which boasts itself for a perfect blend of state of art technology and actual field work dedicated to the uplifting of Indian farmers at an immediate level and society from a broader perspective.

S4S Technologies

Seed Round in 2018
S4S Technologies Private Limited, founded in 2008 and based in Mumbai, India, specializes in designing and manufacturing food processing machines, such as dehydrators and freeze dryers. The company's product lineup includes the Solar Conduction Dryer, HaldiTech, SmartDry, FrostDry, and Solar Grain and Seed Dryer, which are utilized to produce a variety of processed food items, including dehydrated vegetables, fruit candies, and powders. S4S Technologies also offers private labeling and contract processing services, catering to the needs of farmers and food companies. By leveraging technology and collaborating with partner organizations, S4S aims to create a sustainable supply chain for high-quality processed food products.

Ampersand

Seed Round in 2018
We catalyze and power mass market electric mobility. By supplying the battery swap network and operating system we make sustainable mobility rapidly accessible and affordable for developing markets, to improve livelihoods and the environment. With over a million km already covered by e-motorcycles in Africa using our plug & play powertrain and energy network, we are Africa's leading light e-mobility startup.

Crofarm

Seed Round in 2017
Crofarm aims to make a supply chain that supports farmers and provides businesses with freshest produce in the most efficient manner. At Crofarm, one gets a hands on learning experience and skill development at a place which boasts itself for a perfect blend of state of art technology and actual field work dedicated to the uplifting of Indian farmers at an immediate level and society from a broader perspective.

Inspirafarms

Series A in 2017
Inspirafarms is a London-based company that specializes in manufacturing solar-powered, modular technologies for food processing and cold storage. Founded in 2012, it provides off-grid cold storage units, food processing plants, and dairy chilling machines, catering primarily to small and medium-sized agribusinesses in Central America and East Africa. The company focuses on reducing perishable food losses and operational costs in the horticultural sector by offering affordable, turnkey solutions that meet global food safety standards. Inspirafarms also supplies essential accessories and systems, including Good Agricultural Practice certified modules, renewable energy solutions, and data monitoring systems, which support post-harvest value addition processes. With additional offices in Kenya, Southern Africa, and Guatemala, Inspirafarms aims to enhance the efficiency of agricultural value chains and promote the supply of healthy, nutritious food to both local and international markets.

HOMER Energy

Seed Round in 2016
HOMER Energy LLC specializes in hybrid power system optimization software, providing tools such as HOMER Pro for microgrid design and HOMER Grid for optimizing solar-plus-storage and hybrid distributed generation systems. The company's offerings include HOMER QuickGrid, a web application that assists businesses in reducing energy costs, and HOMER QuickStart, which focuses on microgrid and distributed generation optimization. Additionally, HOMER provides a Software as a Service (SaaS) API for customized application development and offers training, consulting, and analytic services. Founded in 2009 and based in Boulder, Colorado, HOMER Energy serves a diverse clientele, including industries, governments, and researchers, enabling them to analyze and optimize hybrid power systems that integrate various energy sources like solar, wind, and conventional generators. The software is widely used globally, assisting users in assessing the economic feasibility of their energy projects and mitigating financial risks associated with hybrid power initiatives. As of December 2019, HOMER Energy operates as a subsidiary of AWS Truepower, LLC.

Apollo Agriculture

Seed Round in 2016
Apollo Agriculture is a company based in Nairobi, Kenya, that provides essential financial and technical support to smallholder farmers in emerging markets. Founded in 2015, it offers customized farming loans that enable farmers to purchase vital inputs such as seeds, fertilizers, and crop insurance. Utilizing agronomic machine learning, remote sensing, and mobile technology, Apollo assesses credit risk and tailors its services to each farmer's specific circumstances, enhancing their productivity and profitability. By leveraging satellite and soil data, along with insights into farmer behavior, Apollo aims to double farm yields and promote sustainable agricultural practices. The company's innovative approach combines technology with expert advice, positioning it as a key player in the agricultural sector.

Ampersand

Convertible Note in 2016
We catalyze and power mass market electric mobility. By supplying the battery swap network and operating system we make sustainable mobility rapidly accessible and affordable for developing markets, to improve livelihoods and the environment. With over a million km already covered by e-motorcycles in Africa using our plug & play powertrain and energy network, we are Africa's leading light e-mobility startup.

Sistema Biobolsa

Seed Round in 2015
Sistema Biobolsa fabricates and sells a patented high quality biodigester system and promotes education and capacity building. Our clients save money, time, and improve their quality of life by treating waste and producing energy and fertilizer. By fabricating a durable good with standard sizes, providing a high direct margin and promotional tools, we can grow through existing distribution networks to a large market. Divided in three segments: 1) subsistence farmers living on less than $2/day with low purchasing power in rural areas with a few animals and farmland; 2) rural small farmers that have agricultural production for consumption and commercialization, who have improved purchasing power and limited access to micro-credit; 3) medium-scale farmers that have commercial agricultural operations, higher purchasing power, access to credit but are still too small for an industrial scale biodigester system. There are 400 million of these farmers worldwide with 5 million in Mexico, Central America, and the Caribbean. We aim to serve 6-10 thousand per year in 3-5 years. Sistema Biobolsa provides a robust piece of farm infrastructure that acts as a waste treatment, energy production, and fertilizer system that can have deep health, economic, and environmental benefits for the end users. With a full package of technology, products, methodology, and promotion, we offer a large opportunity for entrepreneurs that want to distribute and sell Sistema Biobolsa in their local markets.

SparkMeter

Seed Round in 2014
SparkMeter, Inc. specializes in electricity metering systems tailored for rural and urban utilities in developing markets. Founded in 2012 and headquartered in Washington, D.C., with an additional office in Nairobi, Kenya, the company offers a range of products including smart meters designed for residential, commercial, and industrial applications. SparkMeter's solutions facilitate prepaid billing, enhance customer communications, and enable remote monitoring and control, thereby improving grid efficiency and asset performance. By integrating their metering technology with software solutions, SparkMeter enables microgrids and distribution utilities to optimize operations, providing reliable electricity access in underserved areas. This approach not only supports the expansion of electricity distribution but also fosters investments in renewable energy and energy efficiency.
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