Kenyan Agritech Startup Pula Raises $20 Million in Series B Round

African agricultural insurance company Pula has raised $20 million in a Series B funding round led by Swiss investment company BlueOrchard, alongside participation from the Bill & Melinda Gates Foundation.

Based in Nairobi, Kenya, the startup provides insurance to farmers, offering products that can help improve agricultural practices whilst safeguarding against the effects of climate change. Pula’s main markets currently include Kenya, Nigeria, Zambia, Mozambique, and Malawi, with the latest round of funding set to improve the company’s regional and global growth. Pula’s team now looks to expand the agritech insurance company to Asia and Latin America.

Partnerships established by Pula with local insurance companies, charities, banks, and governments allow them to reach even remote farmers, providing solutions to the agricultural sector in Africa, which becomes more threatened by environmental factors every year.