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

Seth Silverman

Principal

Joel Wanjohi

Director

Past deals in Kenya

Sistema.bio

Series B in 2022
Sistema.bio specializes in manufacturing modular biodigester systems that convert animal manure into biogas and organic fertilizer. By processing manure daily, these biodigesters utilize anaerobic bacteria to transform organic waste into methane gas, which can be used for cooking, heating, and electricity generation. This technology aims to enhance the efficiency and productivity of small farmers while improving their quality of life. By turning waste into valuable resources, Sistema.bio not only helps farmers increase their energy security but also contributes to environmental sustainability.

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.

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.

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.

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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