NoorNation, an Egyptian climate technology startup has received undisclosed funding from KBW Ventures, the venture capital firm founded by Khaled bin Alwaleed.
Founded by Ragy Ramadan, NoorNation provides technology-enabled decentralised energy and water infrastructure solutions to the off-grid sector across Egypt and Sub-Saharan Africa.
The company’s flagship product, LifeBox, delivers clean energy and safe water to rural communities, farms, and tourism businesses at a reasonable price. An innovative mobile solution for green infrastructure delivering clean energy and safe water at an affordable price, LifeBox is designed and manufactured in Egypt.
“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,” said Prince Khaled.
Recently named the Best Green Tech Startup of the Year across Northern Africa by the Global Startup Awards 2024, NoorNation was chosen from more than 180 applicants and showcased LifeBox to various stakeholders and investors over the course of the program.
“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.
The second iteration of PepsiCo’s Greenhouse Accelerator Programme: MENA Sustainability Edition was held in partnership with the UAE Ministry of Climate Change and Environment (MOCCAE) and Food Tech Valley (FTV).