Kenyan startup, Apollo Agriculture, a commercial farming platform that helps small-scale farmers maximise their profits, has raised US$10 million in funding to help it continue to grow.
Founded in 2019, Apollo Agriculture empowers farmers to increase their profitability with access to financing, high-quality farm inputs, insurance and optimised advice.
The startup leverages machine learning, remote sensing, and mobile payments to accurately underwrite farm credit risk and has built an automatically managed network of thousands of agents and retailers that enables last-mile delivery of farm inputs and services to small-scale farmers.
Apollo Agriculture has already served over 350,000 small-scale farmers in Kenya and Zambia, and has now raised US$10 million in debt funding from Swedfund and ImpactConnect, implemented by DEG.
The investment will fuel Apollo’s expansion in Kenya, enabling more farmers to thrive, adapt to climate change, and feed their communities.
“This collaboration is a significant milestone, and puts us in a strong position to continue our rapid growth towards our mission of helping small-scale farmers earn more money and farm more sustainably,” the company said.
Source: disruptafrica.com
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