Kenya-based agritech platform, Apollo Agriculture, has raised $40 million in series B funding led by The Chan Zuckerberg Initiative, Yara Growth Ventures, Endeavor Catalyst, CDC, as well as other existing investors like Anthemis Exponential Ventures, Flourish Ventures, Leaps by Bayer, SBI, Breyer Capital, and TO Ventures Food.

The startup was founded in 2016 by Eli Pollak - who is currently the CEO, Benjamin Njenga and Earl St Sauver. Apollo Agriculture provides agricultural solutions with a network of agents that attract farmers and retailers to its platform. Apollo assesses farmers' creditworthiness by utilising satellite photography data and artificial intelligence.

According to the company, the funding will be used to improve services and increase offerings to farmers. The company also revealed that the funds will also be used to quadruple the number of farmers it is currently servicing.

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Speaking about key focus areas of the business, CEO Eli Pollak revealed that, Apollo will continue to invest in expanding fast by supporting more farmers, assisting them in expanding their land, and accelerating their businesses.

Enrich Africa also gathered that the startup will be expanding within Kenya as well as emerging markets in East and West Africa.

The startup is said to have worked with over 100,000 farmers by the end of 2021, with intentions to double that number by the end of 2022.