Apollo Agriculture, a Kenya-based agritech that helps farmers access high-quality farm inputs, financing, and markets, raised $40 million in Series B funding in the equity round led by Softbank Vision Fund 2.
Its latest funding round included participation from the Chan Zuckerberg Initiative, Yara Growth Ventures, Endeavor Catalyst, CDC, and existing investors including Anthemis Exponential Ventures, Flourish Ventures, Leaps by Bayer, SBI, Breyer Capital, and TO Ventures Food.
It plans to use the new funding to refine its technology and deliver more products and services to farmers.
Company: Apollo Agriculture, Inc
Raised: $40.0M
Round: Series B
Funding Month: March 2022
Lead Investors: Softbank Vision Fund 2.
Additional Investors: Chan Zuckerberg Initiative, Yara Growth Ventures, Endeavor Catalyst, CDC, Anthemis Exponential Ventures, Flourish Ventures, Leaps by Bayer, SBI, Breyer Capital, and TO Ventures Food
Company Website: https://www.apolloagriculture.com/
Software Category: Agriculture platform
About the Company: Apollo Agriculture is a Kenya-based SaaS platform that offers solutions including financing, farming advisory, and insurance for farmers that helps small-scale farmers maximize their profits. Apollo uses the satellite imagery data of farms and AI to rate the creditworthiness of farmers. By the end of last year, Apollo had worked with 100,000 farmers, with plans to double the reach by the end of this year. It has a network of “over a thousand” retailers and 5,000 agents spread across the country. Apollo Agriculture’s mission is to ensure that every farmer has the tools they need to farm profitably and sustainably. Apollo Agriculture was founded in 2016. Apollo Agriculture's headquarter is located in Nairobi, Nairobi Province, KE 00100.
Source: https://techcrunch.com/2022/03/21/kenya-based-agritech-apollo-raises-40-million-in-softbank-led-round-joined-by-chan-zuckerberg-initiative-cdc/