Rize, an agritech business based in Singapore, has raised $31 million through a Series B funding round that includes loan and equity funding.
BNP Paribas Asset Management Alts, Temasek, The Rockefeller Foundation, and Breakthrough Energy Ventures participated in the round; United Overseas Bank, Bank for Investment and Development of Vietnam, and Temasek Foundation provided debt funding.
The company intends to use the funds to assist the adoption of sustainable rice farming practices throughout its target markets, grow its operations, and fortify its technology platform.
Rize, which was founded by Dhruv Sawhney of Bengaluru, focuses on sustainable rice growing and collaborates with farmers to adopt technology-driven farming methods to increase yields while lowering emissions.
With the new funding, the company, which presently works in Southeast Asia, intends to expand into Vietnam and Indonesia. India is one of the shortlisted markets, and it is also seeking to expand geographically.
The most recent fundraising comes after Rize’s $14 million Series A round in 2024, which was co-led by Temasek, Wavemaker Impact, GenZero, and Breakthrough Energy Ventures.
