Kenya-Based Agritech Apollo Raises U.S.$40 Million in Softbank-Led Round, Joined By CHAN Zuckerberg Initiative, CDC

Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to introduce other products that deliver more value per acre of land. This is after raising $40 million in Series B funding in the equity round led by Softbank Vision Fund 2.

Apollo uses the satellite imagery data of farms and AI to rate the credit-worthiness of farmers. It plans to use the new funding to refine its technology and deliver more products and services to farmers. Launched in 2016, the startup works with a network of agents, who recruit farmers and retailers to its platform.