Home » Kenyan Agritech Startup Pula Secures $20 Million in Series B Funding to Empower Millions of Farmers

Kenyan Agritech Startup Pula Secures $20 Million in Series B Funding to Empower Millions of Farmers

by Beuuy Sanga

▪️Kenyan agricultural technology company Pula has secured $20 million in a Series B funding round.

▪️This investment will bolster Pula’s mission of providing vital insurance and digital tools to smallholder farmers across Africa, Asia, and Latin America.

▪️Founded in 2015, Pula offers innovative insurance products that shield farmers from financial losses caused by climate-related events like droughts and floods.

▪️The company also provides resources to improve farming practices and increase overall income.

Kenyan agricultural technology company Pula has secured $20 million in a Series B funding round.

This investment will bolster Pula’s mission of providing vital insurance and digital tools to smallholder farmers across Africa, Asia, and Latin America.

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Founded in 2015, Pula offers innovative insurance products that shield farmers from financial losses caused by climate-related events like droughts and floods.
The company also provides resources to improve farming practices and increase overall income.

About the fund:
This Series B funding round was led by BlueOrchard, a global impact investment firm, with participation from the International Finance Corporation (IFC) and the Bill & Melinda Gates Foundation.

These funds will allow Pula to expand its reach significantly, forge new partnerships, and develop livestock insurance products.

Pula’s success stems from its unique approach. Instead of selling directly to farmers, they build partnerships with organisations like banks, agricultural input companies, and NGOs.

This network enables Pula to reach even the most remote farmers and embed insurance into existing products like credit or seeds.

With this fresh injection of capital, Pula is poised to empower millions more smallholder farmers, building resilience and paving the way for a more secure and prosperous agricultural future.

Also, read about Agritech Takes Centre Stage at GITEX Africa 2024

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