This startup provides agricultural insurance services that utilize machine learning and weather data analytics to help smallholder farmers manage climate risks. By implementing crop cut experiments and analyzing farm loss data, the company enables farmers to enhance their agricultural practices and increase their income stability.
Funding
$27M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BFFounders
Product
Problem
Smallholder farmers in developing countries face significant risks from climate-related events such as droughts, excessive rainfall, pests, and diseases, leading to unstable yields and income.
Solution
Pula provides agricultural insurance and technology solutions to protect smallholder farmers from yield risks and improve their farming practices. The company designs and delivers innovative insurance products, including area yield index insurance and index-based livestock insurance, leveraging data analytics and on-the-ground assessments. Pula partners with local insurance companies and global reinsurance firms to underwrite risk, handling product design, risk placement, farmer education, claims assessment, and payouts. Their data services also offer insights into yield trends, regional productivity variations, and the impact of agricultural practices.
Target Audience
Pula's primary customers are smallholder farmers in developing countries, as well as organizations and governments supporting agricultural development and climate resilience.
Features
- Area Yield Index Insurance (YII) covering all risks that affect yield within agro-ecological zones (AEZs)
- Hybrid index insurance combining Weather Index Insurance (WII) and Area Yield Index Insurance (YII) for comprehensive coverage
- Index-Based Livestock Insurance (IBLI) protecting pastoralists from loss of livestock due to climatic events affecting pasture production, utilizing satellite Normalised Difference Vegetation Index (NDVI) data
- Scientific field-based Crop Cut Experiments methodology and robust sampling for accurate yield data collection
- Digitized field force equipped with an in-house app for efficient data collection
- Access to a yield database with millions of data points, including yield levels, farming practices, and farm polygons
- Data collection protocols defined for 32 crops, including cocoa and coffee
- EUDR compliance services to support traceability and accountability in agricultural supply chains