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Kenyan agri-tech start-up Apollo Agriculture raises $6mn in funding
Apollo Agriculture, a Nairobi based agri-tech start-up has raised about $6 million in its series A round of funding. CNBC Africa spoke to Benjamin Njenga, Co-Founder of Apollo Agriculture for more.
Thu, 28 May 2020 10:10:14 GMT
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AI Generated Summary
- Apollo Agriculture secures $6 million in funding to support small-scale farmers in maximizing their yields and profits
- The company's comprehensive approach includes providing farmers with tools, insurance, and financing to increase their productivity
- Utilizing technology and automation, Apollo Agriculture streamlines operations, reduces costs, and enhances customer engagement for greater impact
Apollo Agriculture, a Nairobi-based agri-tech start-up, has recently announced a successful Series A round of funding, raising approximately $6 million. The co-founder of Apollo Agriculture, Benjamin Njenga, spoke with CNBC Africa to discuss the journey of the company and its mission to support small-scale farmers in maximizing their yields and profits. Since its inception in 2016, Apollo Agriculture has been dedicated to helping farmers increase their income by providing them with the necessary tools and resources. Njenga expressed his excitement about securing investors with a deep understanding of the agricultural sector, which will assist the company in achieving its goals of enhancing farmers' productivity and profitability. The newly raised funds will play a significant role in realizing the company's mission and expanding its services to more farmers in Kenya and potentially in other countries. Njenga highlighted the innovative approach taken by Apollo Agriculture in offering a comprehensive suite of services to farmers, including access to tools such as seeds, fertilizers, insurance, and financing. By enabling farmers to afford these essential resources, Apollo Agriculture has witnessed a substantial increase in productivity among its customers. Some farmers have seen their yields grow from five to ten bags per acre to an impressive 25 to 30 bags per acre after utilizing Apollo's package. This success has garnered positive feedback and loyalty from customers, indicating a strong demand for the company's services. Njenga emphasized the importance of leveraging technology to streamline operations and reduce costs, particularly in rural areas where transaction expenses can be a barrier to business. Apollo Agriculture has developed an automated operations platform that combines user-friendly interfaces with advanced technology to make the process of accessing services more efficient and cost-effective. The company's customer life cycle involves engaging farmers through various marketing channels, such as radio, SMS, and field agents, to ensure eligibility and provide personalized support throughout the service delivery. By integrating digital solutions with traditional farming practices, Apollo Agriculture has managed to reach a broader audience and make a significant impact on farmers' livelihoods.
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