Cairo – Mubasher: Egypt-based climatetech NoorNation has secured an undisclosed investment from KBW Ventures, founded by Saudi Prince Khaled bin Alwaleed.
This transaction marks KBW Ventures' initial investment in Egypt's startup ecosystem, according to a recent press release.
Established by Ragy Ramadan, NoorNation provides technology-enabled decentralised energy and water infrastructure solutions to the off-grid sector across Egypt and Sub-Saharan Africa.
The company’s flagship product, LifeBox, delivers clean energy and safe water to rural communities, farms, and tourism businesses at a reasonable price.
In an interview with AGBI, Prince Khaled revealed that he “saw NoorNation’s potential immediately” during its pitch at the finals of the PepsiCo Greenhouse Accelerator Programme: MENA Sustainability Edition. The finals, staged in Dubai, UAE, followed a rigorous multistage selection process and six months of mentorship.”
Prince Khaled highlighted: “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.”
Ragy Ramadan, Founder and CEO of NoorNation, commented: “LifeBox is a solar-powered, self-contained, and quickly deployed unit that directly contributes to the industrial localisation movement and sustainability governance.”
He added: “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.”
