Nairobi-based agri-tech startup, Apollo Agriculture, has raised a total of $6 million (KSh 642 Mn) in its Series A round of funding.
Investors who took part in the funding include Anthemis Exponential Ventures, Leaps by Bayer, Flourish Ventures, Sage Hill Capital, To Ventures Food, Accion Venture Lab, and Newid Capital.
According to the firm, they will use the funds for expansion. The company plans to partner with more farmers, raise its working capital, expand its product offerings, and grow its team.
Our mission is more critical than ever in the wake of coronavirus, seeing that reduced mobility, health risks, and supply chain disruptions have threatened food security. Our digital model has enabled us to continue partnering with farmers to produce more food, despite the unprecedented disruptions of the virus.
Eli Pollak, CEO) and Co-founder, Apollo Agriculture
In 2020 alone, the firm has already partnered with close to 25,000 farmers and served over 40,000 farmers since inception in 2016.
Apollo Agriculture is a technology company based in Nairobi, Kenya, that helps small-scale farmers maximize their profits. The company bundles everything a farmer needs; financing, farm inputs, advice, insurance, and market access, when possible. It uses satellite data and machine learning to enable better credit decisions and automated operations that keep costs low and processes scalable.
The firm focuses on smallholder farmers in Kenya, helping them to access technology and resources to achieve better results on their plots.
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