Other News / Science & Tech - 2020-05-20 05:25:18
Apollo Agriculture believes it can attain profits by helping Kenya’s smallholder farmers maximize theirs.
That’s the mission of the Nairobi-based startup that raised $6 million in Series A funding led by Anthemis.
Founded in 2016, Apollo Agriculture offers a mobile-based product suit for farmers that includes working capital, data analysis for higher crop yields and options to purchase key inputs and equipment.
“It’s everything a farmer needs to succeed. It’s the seeds and fertilizer they need to plant, the advice they need to manage that product over the course of the season. The insurance they need to protect themselves in case of a bad year…and then, ultimately, the financing,” Apollo Agriculture CEO Eli Pollak told TechCrunch on a call.
Apollo’s addressable market includes the many smallholder farmers across Kenya’s population of 53 million. The problem it’s helping them solve is a lack of access to the tech and resources to achieve better results on their plots.
The startup has engineered its own app, platform and outreach program to connect with Kenya’s farmers. Apollo uses M-Pesa mobile money, machine learning and satellite data to guide the credit and products it offers them.
The company — which was a Tec...