Latest News | Sistema.bio Raises USD 3.5 Mn from Novastar Ventures

New Delhi, Jan 15 (PTI) Sistema.bio, which specialises in biogas technology, on Wednesday said it has raised USD 3.5 million from Novastar Ventures during an internal financing round of USD 7.75 million held recently.

Combined with Novastar's investment, Sistema.bio has raised a total financing of USD 18.5 million in 2024, with a focus on regional geographic growth and adding new products.

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This will accelerate Sistema.bio's expansion into new African markets, new agricultural and energy products and its overall growth, the company said in a statement.

This funding will also help address the global demand for renewable energy, promote regenerative agricultural solutions, and support carbon emission reduction projects.

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The funding also sets the stage for Sistema.bio's anticipated Series C round.

"Novastar Ventures' investment strengthens Sistema.bio's mission to empower low-resourced farmers with sustainable solutions that drive economic growth, climate resilience, and regenerative agriculture. Together, we are scaling impactful technologies that benefit both people and the planet,” Sistema.bio Board Chairman Joyce Cacho said.

Steve Beck, Co-founder and Managing Partner at Novastar, said Sistema.bio is the first investment from the third fund 'the Novastar Ventures Africa People and Planet Fund III (NVIII)' which invests in transformative businesses that align the economic interests of Africa's growing population with planet-positive technologies.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)