AgriTech Startup CropIn Raises $20 million from ABC World Asia
AI and data-led agritech startup CropIn has raised $20 million in Series C round of funding led by ABC World Asia, an Asia-focused private equity fund. The round also saw participation from existing investors Chiratae Ventures, Invested Development, Ankur Capital along with new investors CDC Group and Kris Gopalakrishnan's family office Pratithi Investment Trust also coming on board. Post the series C round of funding CropIn has raised a total funding of $33.1 million.
Based in Bangalore, CropIn is an intuitive, intelligent, self-evolving system that renders decision making tools to the entire agricultural sector and helps digitize farms. The genesis of the idea for providing SaaS based services to agribusinesses came to Krishna Kumar, Founder & CEO, CropIn after he observed local farmers facing a gamut of problems ranging from non-availability of finance, climatic vagaries, soil degradation, pest infestation & diseases, operational inefficiencies, and no predictability of yield. Krishna thus founded CropIn in 2010. The startup’s data led solution possesses capabilities of live reporting, analysis, interpretation and insight that enables farmers to archive patterns, predict trends, make a blueprint for business in the times to come.
“To improve yields, optimise 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,” said Krishna Kumar, Founder and CEO of CropIn.
The fresh infusion of capital will be used to power CropIn’s global expansion. The company plans to continue to innovate on its machine learning-based predictive analytics platform, SmartRisk to further strengthen its AI capabilities. CropIn opened an Amsterdam office, and will be hiring local leaders to drive growth in the European market; a part of the capital will also go towards increase its penetration deeper in target markets globally.
Based in Bangalore, CropIn is an intuitive, intelligent, self-evolving system that renders decision making tools to the entire agricultural sector and helps digitize farms. The genesis of the idea for providing SaaS based services to agribusinesses came to Krishna Kumar, Founder & CEO, CropIn after he observed local farmers facing a gamut of problems ranging from non-availability of finance, climatic vagaries, soil degradation, pest infestation & diseases, operational inefficiencies, and no predictability of yield. Krishna thus founded CropIn in 2010. The startup’s data led solution possesses capabilities of live reporting, analysis, interpretation and insight that enables farmers to archive patterns, predict trends, make a blueprint for business in the times to come.
“To improve yields, optimise 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,” said Krishna Kumar, Founder and CEO of CropIn.
The fresh infusion of capital will be used to power CropIn’s global expansion. The company plans to continue to innovate on its machine learning-based predictive analytics platform, SmartRisk to further strengthen its AI capabilities. CropIn opened an Amsterdam office, and will be hiring local leaders to drive growth in the European market; a part of the capital will also go towards increase its penetration deeper in target markets globally.
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