
E4E Africa Secures $30 Million in First Close for Fund II to Empower Impactful Startus in Africa
South Africa’s E4E Africa, a venture capital firm powered by entrepreneurs, has secured $30 million for the first close of its E4E Africa Fund II.
Kumulus Water, a Tunisian-French startup specializing in atmospheric water generation, has raised $3.5 million in seed funding to scale its technology that transforms air into safe drinking water.
The funding will support the development of its new product line, Kumulus Boks, and facilitate expansion into key markets, including Saudi Arabia, France, Spain, and Tunisia.
Founded in 2021 by Iheb Triki and Mohamed Ali Abid, Kumulus Water has developed Atmospheric Water Generators (AWGs) that extract humidity from the air to produce clean drinking water.
These units are designed to operate off-grid, requiring no existing water or electricity infrastructure, making them ideal for remote or underserved areas.
Each unit can produce between 20 to 30 liters of water daily and can be powered by electricity or solar energy.
The seed funding round attracted a diverse group of investors, including Bpifrance (through France 2030 SGPI and the Île-de-France Region), PlusVC, Khalys Venture, Flat6Labs, several European and North African family offices, and European bottled water leader Spadel.
The capital will be used to accelerate the development of Kumulus Boks—high-capacity, off-grid water units designed for industrial and community use—and to strengthen the company’s presence in existing markets while preparing for entry into Saudi Arabia .
Kumulus Water’s technology offers a decentralized and sustainable solution to global water scarcity, a pressing issue affecting over 2 billion people worldwide.
With the new funding, Kumulus Water aims to enhance its product offerings and expand its reach to regions facing acute water shortages.
The company’s innovative approach positions it as a key player in the growing atmospheric water generator market, which is projected to reach $4.55 billion by 2030.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
South Africa’s E4E Africa, a venture capital firm powered by entrepreneurs, has secured $30 million for the first close of its E4E Africa Fund II.
Paytic, a technology company helping banks and financial service providers streamline its payment operations, has secured $4 million in a seed extension round.
The European Investment Bank’s (EIB) global development arm, EIB Global, has committed €25 million to Amethis Fund III, a pan-African private equity fund.
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