">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Monday, January 18, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Startups

Kenya’s Apollo Agriculture raises $6M Series A led by Anthemis

Milcah Lukhanyu by Milcah Lukhanyu
8 months ago
in Startups
7 min read
0

Kenya’s Apollo Agriculture has raised $6 million in Series A funding led by Anthemis to boost the output and earnings of smallholder farmers in Kenya and across Africa.

Apollo Agriculture will use the $6 million in Series A financing to invest in growth in Kenya by hiring great talent, investing in its tech product, and scaling its sales and marketing efforts as well as beef up its lending portfolio.

Founded in 2016, Apollo Agriculture is a mobile-based technology company helping small-scale farmers maximize their profits. It bundles everything a farmer needs: financing, farm inputs, advice, insurance, and market access, when possible. The firm uses satellite data and machine learning to enable better credit decisions, and automated operations keep costs low and processes scalable.

Co-founded by Benjamin Njenga and Eli Pollack, the firm earns a subscription fee on its software as well as margins on financing. Pollak, the CEO, studied engineering at Stanford University and worked for The Climate Corporation in the US before getting into agriculture in Africa. Njenga grew up on a farm in a village in Kenya and experienced the blight of smallholder farming in Africa as his mother was a smallholder farmer.

In 2018, Apollo Agriculture received $500,000 funding from Dutch Development Bank FMO and the Rabobank Foundation, to supply small Kenyan farmers with high-quality farming inputs on credit, crop insurance and voice-based training. Apollo also used the funds to bolster its mobile money, machine learning, and remote sensing technology including satellite data.

Apollo Agriculture was also part of the MetLife Foundation and Visa, Accion and IFC winners of the Inclusive Fintech 50, a competition launched in February to help early-stage fintech companies attract capital and resources to benefit the world’s 3 billion financially underserved people. 

READ  Malawi's Myjobo.com Wants to Connect Youths to Jobs

The firm was also one of the 18 grantees of the $18.4 million U.S. Agency for International Development’s (USAID) Development Innovation Ventures (DIV) program as well as a 2018 finalist of MIT’s Zambezi Prize for Innovation in Financial Inclusion.

Related posts

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
work from home kenya

OZÉ Raises $700k To Digitize African MSMEs & Offer Them Affordable Capital

January 14, 2021
0

Accion Venture Lab,  Leaps by Bayer, and Flourish Ventures participated in the round. Apart from Apollo, Accion Venture Lab has also invested in Kopo Kopo- a merchants mobile money acceptance and cash advance service and Pula-an agricultural insurance product to smallholder farmers in Africa and India.

In Africa, Accion has invested in Nigeria’s Lidya, an SME e-invoicing and invoice solution. In South Africa, Accion has invested in Lulalend, an online lender for MSMEs and Lumkani-an insurtech company that provides insurance to highly vulnerable, low-income families.

Readers 2,329

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Entrepreneurship

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0
Startups

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
work from home kenya
Startups

OZÉ Raises $700k To Digitize African MSMEs & Offer Them Affordable Capital

January 14, 2021
0
Startups

France’s OTT platform Molotov expands into 7 African countries

January 14, 2021
0
Startups

Gro Intelligence Raises $85 Million in Series B Funding

January 13, 2021
0
alternative energy building clouds energy
Startups

West Africa’s Daystar Power raises $38 million to accelerate its regional expansion

January 13, 2021
0
Startups

UK & Egypt’s Docspert Health Raises Six-Figure Seed to expand its Telemedicine Platform

January 13, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

A salesman checks a customer's iPhone at a mobile phone store in New Delhi, India, July 27, 2016. REUTERS/Adnan Abidi

How To Measure How Much You Walk On Your iPhone

January 17, 2021

How To Scan and Sign Documents Directly From Your iPhone

January 17, 2021

realme to release more phones in 2021 to grow its smartphone market share

January 16, 2021

What You Need To Know To Manage Your Network Effectively

January 16, 2021

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: