As an early-mover in the agritech segment, CropIn has the advantage of being ahead in the game. It is building a technology platform on which various inputs are aggregated, absorbed, and then crunched into a solution.
One of the biggest and most persistent challenges for the agriculture sector has been the lack of predictability as there are various factors that can affect the output. To circumvent these unpredictable elements, there is a need for a solution that affords a higher degree of accuracy. CropIn is building just such a set of tools that is going to help generate efficiency and lower risks.
CropIn enables data-driven farming through its ‘SmartFarm’ platform, which helps derive real-time insights on standing crop projects across geographies based on local wealth information and high-resolution satellite imagery.
As the challenge remains on how to make the small land-holders realise the benefits of technology, CropIn is currently engaged with large stakeholders like agriculture processors, distributors, input-providers, lenders, and insurers.
The benefits derived for these segments in the agriculture ecosystem is expected to, over the years, percolate to the small farmer.
The business focus of CropIn has evinced the interest of key investors such as Ankur Capital and
Chiratae Ventures. However, the shot in the arm for CropIn was the endorsement from the Bill & Melinda Gates Foundation, which has placed this agritech startup on the global map.
In June this year, CropIn announced that its annual revenue run rate has grown by 3X in the last five quarters. The startup generates more than 60 percent of its current revenue from the international market, and is targeting 70 percent in the next one year.
CropIn has partnered with over 100 B2B enterprise clients across 30-plus countries in Asia, Europe, Africa, and the Americas.
The startup last raised funding in November 2018 and is now looking at growth expansion. It follows the SaaS model with the revenue connected to the number of times its software is used or to the area covered.
1575025308033.jpg?crop=faces&w=80&h=80&fit=crop)
1575025549717.jpg?crop=faces&w=80&h=80&fit=crop)
1575025774750.jpg?crop=faces&w=80&h=80&fit=crop)
