CropIn raises Rs 113 Cr from ABC Impact, Chiratae Ventures, and others
Agritech startupon Monday said it has raised Rs 113 crore in an undisclosed funding round from new investors and JSR Corporation, and existing investors ABC Impact and .
The Bengaluru-headquartered startup will use the fresh capital to expand its CropIn Cloud product to cater to the growing demand for digitisation and predictive intelligence in the global agriculture sector.
Further, the funds will help CropIn invest in its go-to-market efforts and expand the platform's capabilities, including developing next-generation predictive intelligence solutions through CropIn AI Labs.
Founded in 2010, its CropIn Cloud product helps stakeholders in the agricultural ecosystem make informed decisions that increase farming efficiency, improve productivity, manage risk and environmental changes, and enhance sustainability through the use of digital technologies and predictive intelligence.
"We are pleased that CropIn’s efforts to address global food challenges through technology continue to gain traction," Sugandhi Matta, Chief Impact Officer at ABC Impact, said. "Our continued support, along with that of new investors, demonstrates the CropIn team's commitment and dedication to delivering impactful outcomes through their work."
The company has partnered with over 250 business-to-business (B2B) customers and digitised 16 million acres of farmland, benefiting over seven million farmers.
It also plans to expand its business presence in new regions and industries, focusing on creating solutions that promote sustainable agriculture practices and address global food security challenges on a large scale.
"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," Krishna Kumar, Co-founder and CEO, CropIn, said.
He added, "The involvement of new strategic investors like Google and JSR Corporation, and the support of our existing investors demonstrates confidence in our mission and impact. We are excited to partner with global technology innovators like Google, which further validates our capabilities and solidifies our position as a leader in the digitalization of global agriculture".
Edited by Suman Singh