CropIn raises US$20 Million in Series C funding round
Existing investors Chiratae Ventures, Invested Development, and Ankur Capital also participated in this funding round. Other new investors in this round include CDC Group and Kris Gopalakrishnan’s family office Pratithi Investment Trust.
CropIn will use this capital infusion to focus on its global expansion while continuing to innovate on its machine learning-based predictive analytics platform, SmartRisk to further strengthen its artificial intelligence capabilities. CropIn is also investing to penetrate deeper into its target markets globally. Recently, CropIn opened an Amsterdam office and will be hiring local leaders to drive growth in the European market.
CropIn’s data-driven farming solutions enable agri-enterprises and growers to ‘maximize per-acre value’. Its farm data and agronomy management platform, SmartFarm, empowers stakeholders to improve efficiency, productivity, predictability, and sustainability of their crop value-chains. SmartFarm enables agri-enterprises to adhere to food safety standards thereby ensuring farm-to-fork traceability. The platform helps growers adopt sustainable farming practices to build long term economic viability and resiliency for local farming communities. CropIn has partnered with several global players in agriculture, including development finance institutions and government entities in 52 countries, to drive their digital and sustainability goals.
“The robust, predictive power of digitalization offers tremendous potential for the agriculture industry to leapfrog its many challenges in the coming years. The industry is capturing more data than ever, on everything from agronomy, weather, and logistics to market price volatility, which has helped reduce acute data gaps throughout the value chain. In order to improve yields, optimize production, and improve resilience and sustainability, agri-businesses are increasingly relying on innovative agri-tech solutions like artificial intelligence, data analytics, and the internet of things. We, at CropIn, are excited to advance the ‘AI-Culture’ for Agriculture,” says Krishna Kumar, Founder, and CEO of CropIn.
Existing investors of CropIn include BeeNext and the Bill & Melinda Gates Foundation’s Strategic Investment Fund (London and Seattle). Over the last year, CropIn has established an advisory board comprising Barrett Mooney (Chairman of Board at AgEagle), Ranveer Chandra (Chief Scientist at Microsoft), TVG Krishnamurthy (Member of the Board of Directors at Ola), and Dr Iya Khalil (Global Head of the AI Innovation Center at Novartis).
