Agritech Startup Cropin Raises Funding From Google, Others
Cropin Technologies, a Bengaluru-based agritech firm, has raised Rs 113 crore ($13.7 million) from a set of new and existing investors in a latest funding round.
While Google and JSR Corporation joined as new investors, the company’s existing investors, ABC World Asia and Chiratae Ventures, also contributed to this funding round.
As per the startup, the raised funds will primarily be used to expand its recently launched intelligent agriculture cloud platform, with a view to cater to the growing demand for digitization and predictive intelligence in the global agriculture sector.
Additionally, the raised funds will also help the firm expand its presence in new regions and industries.
Cropin | Global Ag-ecosystem Intelligence Provider
Founded by Krishna Kumar, along with co-founder Kunal Prasad, Cropin is a Bengaluru-based earth observation & AI-led agritech startup that enables data-driven farming by connecting the various stakeholders of the agri-ecosystem. The startup provides users with real-time data and insights to improve financial and operational aspects of agriculture.
Speaking about the development, Krishna Kumar, Founder & chief executive officer at Cropin, said,
“Since its founding in 2010, Cropin has been dedicated to improving the intelligence of food production and maximizing value for all stakeholders in the agricultural ecosystem. By making farms and harvests traceable, predictable, and sustainable, Cropin aims to transform how food is grown.”
The firm has built the world’s first purpose-built industry cloud for agriculture, Cropin Cloud, that enables various stakeholders in the agri-ecosystem to leverage digitization and predictive intelligence to make effective decisions that increase farming efficiency, scale productivity, manage risk and environmental changes and enhance sustainability.
Commenting on the development, Sudhir Sethi, founder and chairman of Chiratae Ventures, said,
“I am a believer in technology startups defining new business and revenue models, innovating new products, pioneering technology developments and discovering new markets for growth. Cropin has embodied these values, and they are poised to be the largest agritech company globally with their cloud-based SaaS business model.”
Cropin claims to have partnered with more than 250 business-to-business (B2B) customers and has digitized 16 million acres of farmland, benefiting over 7 million farmers. The firm has a crop knowledge graph of over 500 crops and 10,000 crop varieties in 92 countries that powers Cropin Cloud.
In 2021, Cropin partnered with True Digital Solutions to enable the digital transformation of the agriculture ecosystem in Southeast Asia. The same year, the firm set up its first international office in Amsterdam.
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