Bidra nets funds for sustainability, energy transition: US-based agritech fund BidraInnovation Ventures has secured USD 200 mn in funding from Morocco’s Mohammed VI Polytechnic University (UM6P) and leading Moroccan fertilizer giant OCP Group to back climate-focused startups, according to a statement released last week. The latest funding round comes a year after the same investors backed Bidra with a USD 50 mn fund focused on agriculture.

Where the funds are going: The funds will be used to expand Bidra’s investments in energy, water, mining, and agriculture, the statement notes. This is part of OCP Group’s green investment strategy that was announced late last year with a USD 13 bn commitment over the next four years to help achieve carbon neutrality by 2040, the statement added.

It comes on the back on key investments in 2022: Bidra made investments in a number of agritech startups globally including India’s Niqo Robotics, Africa-focused environmentally-friendly crop protection product maker Agrospheres, soil analysis startup Pattern Ag, Kenya-based agri-marketplace Apollo Agriculture, and carbon sequestration business Travertine, the statement said.

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