Hivos-Triodos Fund has provided USD 1 million in senior debt to Apollo Agriculture, a Kenyan ag-tech company that uses machine learning and automated operations technology to help small-scale farmers maximise their profitability.
Apollo Agriculture (Apollo) provides an optimised bundle for farmers that includes financing, farming inputs, advice, and insurance. Apollo’s vertically integrated digital approach leverages machine learning and automated operations, and balances automation and human touch throughout the customer lifecycle to ensure a world-class customer experience.
Mrinal Verma of Triodos Investment Management: “Apollo improves the livelihoods of small-scale farmers by using technology and innovation. This makes the company a natural partner for us, and we are proud and happy to be part of Apollo’s journey to further increase its outreach.”
Apollo has built robust financing and operational technology, including a network of more than 2,000 field agents and more than 450 agri-retailers. This infrastructure enables Apollo to build trust and credibility with customers in person, while also empoweringfarmers to maximise their farm earnings with unprecedented scalability.
89% of sampled Apollo farmers report productivity increases, and 71% of farmers say their productivity has “very much increased” since working with Apollo.
Eli Pollak, CEO and founder of Apollo Agriculture: “We are very excited to have Hivos-Triodos Fund as a key partner as we continue to scale. This funding will support our continued strong growth, enabling us to reach more small-scale farmers and help them to increase their yields and income and become more resilient to climate change.”