Apollo Agriculture's $10 Million Boost to Propel Sustainable Farming in Kenya

Apollo Agriculture's $10 Million Boost to Propel Sustainable Farming in Kenya

By Staff Writer, 01 February 2024

Apollo Agriculture, a Kenyan startup established in 2019, has successfully raised $10 million in funding to support its ongoing growth initiatives.

The company operates as a commercial farming platform dedicated to assisting small-scale farmers in optimizing their profits.

Apollo Agriculture's innovative approach involves providing farmers with comprehensive support, including access to financing, high-quality farm inputs, insurance coverage, and tailored advice.

Leveraging cutting-edge technologies such as machine learning, remote sensing, and mobile payments, the startup accurately assesses farm credit risks.

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Additionally, it has established an automated network comprising thousands of agents and retailers, facilitating the last-mile delivery of essential farm inputs and services to small-scale farmers.

With a track record of serving over 350,000 small-scale farmers in Kenya and Zambia, Apollo Agriculture's recent funding round of $10 million comes from Swedfund and ImpactConnect, implemented by DEG.

The infusion of capital is earmarked for Apollo's expansion within Kenya, with the goal of empowering more farmers to thrive, adapt to climate change challenges, and contribute to the sustenance of their communities.

In response to the successful funding round, the company expressed its enthusiasm, stating, "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."

Source: Tom Jackson / Disrupt Africa

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