KBW Ventures, established by Saudi Prince Khaled bin Alwaleed, has made an undisclosed investment in NoorNation, an Egypt-based climatetech company.
NoorNation, founded in 2021 by Ragy Ramadan, offers the off-grid industry in Egypt and Sub-Saharan Africa technologically enabled decentralized electricity and water infrastructure solutions. The company’s primary product, LifeBox, provides affordable clean energy and pure water to farmers, rural communities, and tourism-related enterprises.
Khaled bin Alwaleed’s venture capital firm, KBW Ventures, has declared its investment in the Egyptian climate technology company, NoorNation. NoorNation, founded by Ragy Ramadan, offers Sub-Saharan Africa’s and Egypt’s off-grid communities technologically enabled decentralized electricity and water infrastructure solutions.
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The company’s primary product, LifeBox, provides affordable clean energy and pure water to farmers, rural communities, and tourism-related enterprises. LifeBox is a creative mobile green infrastructure solution that is made and built in Egypt and provides safe water and clean electricity at a reasonable cost.
“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.
NoorNation, which was selected from more than 180 applications, was just named the Best Green Tech Startup of the Year across Northern Africa by the Global Startup Awards 2024. Throughout the program, NoorNation presented LifeBox to numerous stakeholders and investors.
“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.
Every firm that took part in the program was given a $20,000 initial grant in addition to six months of one-on-one mentorship from PepsiCo and outside partners, who offered advice on everything from business models, marketing, and fundraising to R&D.
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About NoorNation
NoorNation is an Egypt- and Rwanda-based renewable energy startup that develops and manufactures tech-enabled decentralized electricity and water infrastructure solutions for agriculture enterprises and rural communities in Egypt and Sub-Saharan Africa.
