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Apollo Agriculture Raises $40 Million in Series B Funding

Three founders of Apollo Agriculture

Eli Polla, Benjamin Njenga, and Earl St Sauver, founders of Apollo Agriculture

  • Apollo Agriculture boosts small-scale farmers’ productivity in order to enhance yields and maximize their profits.
  • Apollo uses agronomic machine learning, remote sensing, and mobile phones to give a customized bundle of loans, high-quality farm inputs, and guidance to farmers in emerging markets, starting in Kenya.

Nairobi, Kenya, March 23. Apollo Agriculture, is a technology start-up based in Nairobi, Kenya, has raised $40 million in its Series B round of funding.

Investors who took part in the funding round included the Chan Zuckerberg Initiative, Yara Growth Ventures, Endeavor Catalyst, CDC, Anthemis Exponential Ventures, Flourish Ventures, Leaps by Bayer, SBI, Breyer Capital, and TO Ventures Food.

The agri-tech startup says it intends to use the funding to double the number of its beneficiaries – farmers by the end 2022, and also to refine its technology. It is also looking to introduce other products that deliver more value per acre of land and deliver more products and services to farmers.

Apollo Agriculture boosts small-scale farmers’ productivity in order to enhance yields and maximize their profits.

Apollo, founded in 2016 by Eli Polla, Benjamin Njenga, and Earl St Sauver, uses agronomic machine learning, remote sensing, and mobile phones to give a customized bundle of loans, high-quality farm inputs, and guidance to farmers in emerging markets, starting in Kenya. The company bundles everything a farmer needs; financing, farm inputs, advice, insurance, and market access, when possible. It uses satellite data to enable better credit decisions and automated operations that keep costs low and processes scalable.

Since the close of a $6 million series A in 2020, Apollo has grown 10 times, accelerated by product financing. The agritech has also received over $16 million in debt funding over the years for onward lending.

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