Egypt-based climate-tech startup, NoorNation, has secured an undisclosed investment from KBW Ventures, to scale its operations and further its mission of delivering green infrastructure to underserved regions.
Founded in 2021 by Ragy Ramadan, NoorNation specializes in providing decentralized energy and water infrastructure solutions to off-grid sectors across Egypt and Sub-Saharan Africa.
The company’s flagship product, LifeBox, is a mobile solution designed and manufactured in Egypt that offers clean energy and safe water to rural communities, farms, and tourism businesses.
“LifeBox is a solar-powered, self-contained, and quickly deployed unit that directly contributes to the industrial localisation movement and sustainability governance. It gives peace of mind to our customers, farming and tourism businesses, and rural communities to achieve their triple bottom lines: social, financial, and environmental growth,” said Ragy Ramadan, founder and CEO of NoorNation.
KBW Ventures Founder Saudi Prince, Khaled bin Alwaleed, said that he had seen NoorNation’s potential ‘immediately’ during its pitch at the finals of the PepsiCo Greenhouse Accelerator Programme: MENA Sustainability Edition.
“The need and relevance for what they are doing is a win-win. Their business model fits squarely in our wheelhouse – a sweet spot of climate technology. During the final judging round, NoorNation was examined through the lens of three criteria: social need, geographic scalability, speed to market and efficiency. We use these same metrics as part of our own due diligence process at KBW Ventures, alongside a number of others,” he said.
“This is the first startup from Egypt that we have invested in. I did a fact-finding visit to Egypt five-six years ago – mostly thinking about the sustainability and energy potential there, but nothing tangible came to fruition until I saw the NoorNation pitch.”
Recently named the Best Green Tech Startup of the Year across Northern Africa by the Global Startup Awards 2024, was also one of 2 decentralized infrastructure startups that participated in AfricArena’s recent Safarilex Bootcamp in 2023.
🇪🇬 🇹🇿 LIST | 2 out of 32 Startups Selected for AfricArena Bootcamp Offer Decentralized Infrastructure Solutions
In 2019, House Africa, a Nigerian 🇳🇬 blockchain-based startup, won the Fantom Foundation Challenge 2019 at the AfricArena Conference held in Cape Town, South Africa… pic.twitter.com/kMuMOQrFPf
— BitKE (@BitcoinKE) September 18, 2023
“LifeBox is a solar-powered, self-contained, and quickly deployed unit that directly contributes to the industrial localisation movement and sustainability governance. It gives peace of mind to our customers, farming and tourism businesses, and rural communities to achieve their triple bottom lines: social, financial, and environmental growth,” said Ragy Ramadan, founder and CEO, NoorNation.
All startups that participated in the programme received an initial grant of $20,000 and one-on-one mentorship from PepsiCo and external partners over a six-month span, who guided them on everything from R&D to business models, marketing, and fundraising.
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