Kenyan agro-tech start-up Apollo Agriculture, which uses machine learning and automated operations technology to help smallholder farmers access the resources they need to maximize their profitability, has raised US $ 1 million in funding by borrowing from the Agri-Business Capital Fund (ABC Fund).

Based in Nairobi, Apollon Agriculture is a commercial agriculture platform for smallholder farmers that uses machine learning and automated operations technology to help them access things like finance, insurance, farm products, and optimized advice.

The startup, which raised a $ 6 million Series A round in May of last year, currently serves around 60,000 farmers, having tripled its customer base in the past two years. He has now added more capital through a US $ 1 million credit facility from ABC Fund, a blended-finance impact fund that provides catalytic finance to underserved but profitable segments of agribusiness value chains in rural areas. developing countries.

Apollo will use the money to continue to scale its solution to reach more small farmers who do not have access to microfinance and commercial bank loans, said Eli Pollak, CEO of the startup.

“This funding will support our continued strong growth, enabling us to help more small farmers access high quality agricultural inputs, credit counseling and insurance, dramatically increasing their yields and incomes. Apollo’s automated and technology-driven approach is designed to help millions of farmers transition from a subsistence farmer to a commercial farmer in a sustainable manner. We are delighted to have ABC Fund as a strong partner as we continue to evolve, ”he said.

Emanuele Santi, fund manager for ABC fund at Bamboo Capital Partners, said Apollo was a great example of a tech-driven company making a real difference to improve the lives of marginalized farming communities in Kenya.

“Apollo’s innovative solution to help smallholder farmers maximize profitability is proven and, moreover, it directly improves food security and reduces shortages in the region. We are delighted that the ABC Fund now has the opportunity to play a crucial role in scaling Apollo to enable it to reach even more small farmers and continue to have a positive impact on the ground ” , did he declare.