Beyond Capital Ventures has been increasingly active in Africa, where it sees immense growth potential in sectors like healthcare and renewable energy.
The funding from FCDO will enable AgDevCo Ventures to attract further capital, with an additional £20 million currently being raised from development finance institutions and family offices.
Wattnow is strategically positioned to capitalize on this expansion, particularly in its primary markets in Europe and the Middle East and Africa (MEA), where the market size was estimated at $11.77 billion and $1.68 billion, respectively.
Despite the proliferation of fintech, e-commerce, and logistics platforms across Africa, a lack of formal addresses remains a blind spot in infrastructure.
The fund will also support ecosystem development, from policy engagement and evidence generation to cross-sector convening, in order to accelerate market adoption.
