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Malian insurtech startup OKO has raised a USD 500 K seed extension round to help it expand to Ivory Coast and work towards a Series A. The extension round came from global impact-tech accelerator Katapult, Guillaume Leenhardt (CEO at Gentle Finance), Henry Allard (CEO of Filhet-Allard Maritime), and Lionel Dorie founding partner of Augusta Energy Group).
Operating in Mali and Uganda, OKO develops affordable mobile-based crop insurance products to provide smallholder farmers with the financial security they need, regardless of unstable climate trends. The startup uses new technologies in satellite imagery and weather forecasting to simplify and automatize claim management, creating low-cost crop insurance for smallholder farms.