The Agri-Business Capital Fund (ABC Fund) has invested USD1 million in Apollo Agriculture (Apollo), a Kenyan ag-tech which uses machine learning and automated operations technology to help small scale farmers access the resources they need to maximize their profitability.
The ABC Fund is providing a credit facility of USD1 million to Apollo. Apollo will use the proceeds to continue scaling its high impact ag-tech solution to reach more smallholder farmers who are unable to access microfinance and commercial bank lending. The investment will have a positive impact to improve food security and reduce food shortages in rural Kenya.
Eli Pollak, CEO at Apollo Agriculture, says: “We are thrilled to partner with the ABC Fund. This funding will support our strong continued growth, enabling us to help more small-scale farmers access high-quality farming inputs, advice and insurance on credit, significantly increasing their yields and income. Apollo’s automated, tech-driven approach is designed to help millions of farmers make the transition from subsistence to commercial farmer sustainably. We are excited to have ABC Fund as a strong partner as we continue to scale.”
Read more/Source: Private Equity Wire
