Kenyan startup Keep IT Cool, recognized for its sustainable refrigeration solutions that are revolutionizing food preservation, has secured funding from global impact investor Acumen to support its expansion across Africa.
Established in 2021 by Francis Nderitu and Abigail Gachigi, the company bridges supply and demand in the fish and chicken value chains through innovative cooling systems and a Business- to-Business (B2B) app connecting suppliers directly to customers.
The app, “Markiti,” facilitates direct orders of fish and chicken by shops, outlets, and restaurants, enabling farmers and fisherfolk to track demand in real time.
A recipient of the 2024 Earthshot Prize, Keep IT Cool currently operates in Kenya and Tanzania and is set for further growth with Acumen’s financial backing.
“Our collaboration with Acumen centers on our mutual commitment to uplifting underserved African communities,” stated Nderitu, co-founder and managing director. “We aim to empower these communities by boosting their productivity, improving market access, and minimizing waste, ultimately helping to increase their incomes.”
The startup has enhanced the incomes of 3,600 fisherfolk by over 15% and virtually eradicated post-harvest loss within its network. Its ecosystem includes 40 supermarkets and more than 2,000 small businesses.
Having expanded into Tanzania, Keep IT Cool is now building a solar-powered cold chain facility that will increase its capacity sevenfold.
This new infrastructure will support entry into the fruits and vegetables market and serve over 100,000 fisherfolk and farmers. The investment from Acumen will help propel its goal of scaling operations across Africa.
This funding is part of Acumen’s Forcibly Displaced People (FDP) Lens Investing program in East Africa, which seeks to provide capital and technical support to SMEs in displacement-affected regions.
Backed by the Conrad N. Hilton Foundation, Swiss Agency for Development and Cooperation, and the IKEA Foundation, the program focuses on creating sustainable livelihoods for forcibly displaced individuals and their host communities.
Chris Maranga, head of Acumen’s East Africa operations, commented: “In East Africa, post-harvest losses due to inadequate cold storage are a significant obstacle to food security and economic growth. Keep IT Cool’s solar-powered cold storage technology tackles this challenge sustainably, empowering fisherfolk and smallholder poultry farmers in some of Kenya’s most marginalized communities. This alignment with our mission to build long-term resilience in local markets made supporting this initiative an easy decision for us.”