Kenyan forestry company Komaza raises $10m funding
Komaza, a smallholder forestry platform, has raised $10 million from Mitsui & Co. and Sobrato Philanthropies.
The new funds will be used to scale field operations, support value chain expansion, and develop innovative tech infrastructures, reinforcing Komaza’s key initiatives set forth in the $28 million series B in July 2020 to accelerate climate impact through sustainable smallholder forestry.
Victoria Fram, managing director of impact investments at Sobrato says, “Komaza’s holistic approach to achieving impact – delivering significant, efficient carbon sequestration while also enabling economic opportunity for smallholder farmers – is a compelling vision for the future. The team has demonstrated the ability to innovate and integrate technology that helps both their business and impact scale in parallel.”
“Mitsui also believes in the huge potential and impact of Komaza’s innovative smallholder platform supported by on-the-ground operations and proprietary technology,” adds Shigeki Shibayama, general manager of the living and environmental business division at Mitsui. “We are excited to support Komaza in expanding its unique smallholder forestry model as a strategic partner by utilising our worldwide business network and forestry experiences.”
“We are delighted to partner with Mitsui, one of the largest Japanese trading and investment conglomerates with global forestry expertise and network, and Sobrato, an impact-oriented, multi-generational family office and foundation,” says Tevis Howard, Komaza’s founder and CEO. “Together, we can achieve ambitious goals and make a true difference in the climate space.”
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