Brayfoil Selected For Katapult Ocean Accelerator, Banks Funding
SA Clean-Tech Startup Brayfoil was formed in 2017, Brayfoil Technologies uses biomimicry-inspired compliant structures that change shape like bird’s wings to enable larger wind turbines and lower the cost of energy.
Brayfoil Technologies has been selected to take part in the Katapult Ocean accelerator, in addition to securing an undisclosed amount of funding from the Norway-based ocean impact investor.
Having previously taken part in the South Africa-based Ocean Hub Africa accelerator, the startup has now gained international recognition after being selected for Katapult Ocean, which has 108 portfolio companies in 35 countries and US$50 million in assets under management.
Katapult Group has invested NOK50 million (US$6 million) in this cohort across 18 companies, selected from roughly 2,700 applicants at an acceptance rate that equates to just 0.8 per cent.
Matthew Bray, Co-founder and Chief Executive Officer (CEO) of Brayfoil said: “We’re immensely proud to be a part of the Katapult family, they are one of the top 50 climate investors in the world and we look forward to scaling an African-born technology with their support,”
Brayfoil’s technology is being driven forward by global patents, over US$2 million in grant funding and equity investment, and a team of skilled engineers. The team has been incubated by the Innovation Hub’s Climate Innovation Centre, and is part of Hello Tomorrow’s Top 100 companies in Deep Tech.