Bidra Innovation Ventures (Bidra) received USD 200 million in funding from Mohammed VI Polytechnic University (UM6P) and the OCP Group to back sustainable technology in India and other emerging markets.
Bidra, a San Francisco, California, and Ben Guerir, Morocco-based venture capital firm, invests in sustainable technologies for Africa and beyond. It is stage-agnostic and invests in other GPs active in the energy, water, mining, and agriculture sectors.
The funding will be used to expand Bidra's investment scope to include innovations in sustainable agriculture, energy, water, and other climate technologies so that the firm can focus on emerging markets like India and Africa. Last year, Bidra launched a USD 50 million agriculture-focused fund backed by the same investors.
The VC firm is an active investor in Bengaluru-based agricultural robotics startup Niqo Robotics, which focuses on AI-powered sustainable spot spraying technology.