KENYA – Sanergy, an organics recycling company transforming how cities in the developing world manage waste by upcycling it into valuable agricultural inputs, has clinched an investment from AXA IM Alts1, along with Mani Kapital and Kepple Ventures, two Tokyo-based investment platforms.
Sanergy collects organic and sanitation waste from agribusiness, urban markets, informal settlements, and central kitchens, then processes them into insect-based proteins derived from black soldier flies for animal feed, organic fertilizer, and biomass fuel.
This circular economy approach, according to the company is cleaning up the environment, promoting sustainable agriculture, improving yields for farmers, and creating thousands of jobs along the value chain.
“The future of our planet requires both innovative thinking and bold, climate-friendly investing. We are delighted to partner with AXA IM Alts, an institutional investment manager with a strong investment solution offering. AXA IM Alts’ vast investment experience and its networks will catalyze our growth,” said Ani Vallabhaneni, Sanergy CEO and Co-Founder.
The new investment will enable Sanergy to scale its operations in Kenya and across the region and spearhead its goal of processing 1 million tons of waste per year by 2026, operating in at least 10 cities.
“We are delighted to partner with AXA IM Alts, an institutional investment manager with a strong investment solution offering.”Ani Vallabhaneni – Sanergy CEO and Co-Founder
As part of the investment, AXA IM Alts1 made a secondary investment in Sanergy to acquire the stake held by Acumen and by Global Partnerships.
“We believe that Sanergy provides a transformational solution to the health and environmental hazards caused by the improper management of waste in Africa and beyond and we are thus very excited to contribute to the next phase of Sanergy’s ambition,” said Jonathan Dean, Head of Impact Investing, AXA IM Alts.
Both Acumen and Global Partnerships were early-stage investors in Sanergy, and their exit marks a resounding conclusion to a successful partnership and offers further proof in the power of impact investing.
“I’m so proud to see how Sanergy has grown to serve more than 100,000 residents per day with safe sanitation, while producing valuable commercial by-products from waste inputs. We have confidence in the continued growth of Sanergy globally and are pleased to see long term strategic funders stepping in to take the company forward,” Jim Villanueva, Managing Director of the Global Partnerships/Eleos Social Venture Fund said.
Shiru Mwangi, Acumen East Africa Regional Director also reiterated, “Acumen is proud to have supported Sanergy’s founding team who had the courage to address the sanitation problem facing poor communities in East Africa.
“The company is now well positioned to leverage its sanitation by-products to address at scale the challenge of lack of affordable and quality animal feed inputs.”
Recently, Sanergy was recognized for its work and won the inaugural Carl Bergfors’ Food Planet Prize.
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