OKO Raises 6-Digit Funding To Expand Climate Insurance For African Farmers

OKO, a climate-tech and agritech startup providing climate insurance to African farmers, has raised a six-digit funding round led by Catalyst Fund, with support from existing investors.

Founded in 2017 by Simon Schwall, the company leverages satellite data and mobile technology to deliver affordable crop insurance, helping smallholders and agribusinesses withstand climate shocks. Already operating in Côte d’Ivoire, Mali, Uganda, Mozambique, and Angola, OKO has insured more than 33,000 farmers while executing all validated claims—building trust across its networks.

The new funding, following previous seed raises of USD 500 K in 2022 and USD 1.2 M in 2021, will fuel OKO’s expansion through partnerships with banks, agritechs, and agro-industries, embedding climate insurance directly into agricultural value chains.

“With climate volatility intensifying across Africa, insurance is no longer optional, it’s essential,” said CEO Schwall. Catalyst Fund called OKO a “game-changer” for closing the protection gap for farmers and agribusinesses, as the continent works to secure more climate-resilient supply chains.