OKO, an insurtech start-up that provides inclusive agricultural insurance to secure farmers’ income across Africa, has closed a seed investment of $1.2 million. The round was led by Newfund and ResiliAnce. Mercy Corps Venture, Techstars, ImpactAssets and RaSa also participated in the round.

The start-up, which currently operates in Mali and Uganda, uses satellite data and mobile payments to create automated insurance products for farmers whose fields are affected adversely by weather...