Unicorn India Ventures led Rs 12 Cr Pre-series A funding raised by agritech startup Cropcoin
With participation from current investor Climate Angels, agritech startup Cropcoin (Pehle Jaisa) has raised Rs 12 crore in a pre-Series A funding round headed by Unicorn India Ventures.
The Gurugram-based business had previously raised $169K in a previous seed round and $300K in the same round co-led by Pantnagar Capital and Climate Angels in June of last year.
With the new funding, operations will be expanded from ten districts to all 66 districts in Bihar and Jharkhand.
Cropcoin was established in 2022 by Pankaj Pandey and Ehtesham Farooqui with an emphasis on soil health and agricultural waste management. The company helps dairy and poultry farms turn waste into value while enhancing farm profitability and hygiene by converting animal waste at the source into organic fertilizers and biostimulants.
By lowering greenhouse gas emissions, enhancing soil health, and reducing reliance on chemical fertilizers, Cropcoin encourages sustainable farming methods. Additionally, its solutions help produce food free of chemicals, making the final product safer and more nutrient-dense.
In an effort to lower farmer input costs and restore soil health and biodiversity, the startup has launched a variety of bio-products.
Over the past year, Cropcoin has tripled its revenue and grown its network of farmers in Bihar, Jharkhand, and Manipur from 20,000 to 70,000. With little burn, it is expected to reach an ARR of Rs 10 crore.
The company intends to strengthen its presence in the Northeast, reach over 1.5 lakh farmers, and finish its 66-district rollout in Bihar and Jharkhand over the course of the next 12 to 18 months.
