Kenyan Agritech Startup Apollo Agriculture Raises USD 10 M Debt Funding

Kenyan startup Apollo Agriculture, a commercial farming platform that helps small-scale farmers maximize their profits, has raised USD 10 M in debt funding from Swedfund and ImpactConnect, implemented by DEG. to help it continue to grow.

Apollo Agriculture empowers farmers to increase their profitability with access to financing, high-quality farm inputs, insurance and optimized advice. The startup leverages machine learning, remote sensing, and mobile payments to accurately underwrite farm credit risk and has built an automatically managed network of thousands of agents and retailers that enables last-mile delivery of farm inputs and services to small-scale farmers.