Bengaluru-based global agritech solution provider company and creator of the world’s first industry cloud for agriculture, Cropin has secured INR 113 crores in funding from new investors, Google and JSR Corporation, along with existing investors Chiratae Ventures and ABC Impact. To meet the rising demand for digitisation and predictive intelligence in global agriculture, the funds will help expand Cropin Cloud, the company’s recently announced intelligent agriculture cloud platform, the company said today.
Launched in September 2022, Cropin Cloud has swiftly emerged as a key platform for agriculture‘s digital revolution. Cropin will be able to strengthen its marketing initiatives and expand the platform’s functionality with the help of this fund, particularly by developing cutting-edge predictive intelligence products through Cropin AI Labs. Cropin AI Labs aims to provide access to predictive intelligence to every acre of arable land in the world. Additionally, Cropin intends to increase the reach of its business in new geographies and sectors, concentrating on the development of large-scale solutions to problems relating to global food security and promoting sustainable agricultural practices, Cropin said.
Climate change, food insecurity, supply chain disruptions, and geopolitical conflicts are just a few of the serious problems that the world’s food system is currently facing, which underscore its fundamental weaknesses. To meet domestic demand and decrease food waste, governments and businesses in the agriculture and food industries are looking for ways to boost productivity, efficiency, and income. Cropin is well-positioned to assist governments, development organisations, and agri-food companies in transforming and building a secure and sustainable food value chain thanks to its strategic technology solutions.
Speaking on the funding, Krishna Kumar, Co-Founder & CEO, Cropin said, “Cropin has been committed to enhancing the intelligence of food production and maximising value for all stakeholders in the agricultural ecosystem since its foundation in 2010. Cropin wants to revolutionise the way food is grown by making farms and harvests traceable, predictable, and sustainable. Our mission and impact are well established and proven with the backing of our current investors as well as the participation of new strategic investors like Google and JSR Corporation. We are thrilled to collaborate with leading global technology companies like Google since it confirms our competence and establishes us as an industry pioneer in the digitalisation of international agriculture.”
Showing his confidence in Cropin, Sudhir Sethi, Founder and Chairman Chiratae Ventures said, “Cropin’s quest for innovation, passion for solving critical global challenges, and use of technology to transform agriculture’s fundamental fabric impressed us the most. I am a firm believer in technology startups that define new business and revenue models, innovate new products, pioneer cutting-edge technological developments, and identify new growth markets. Cropin has always embodied these values, and with its cloud-based, SaaS business model, it is poised to become the largest agritech company in the world. This investment demonstrates our firm belief in their growth and the impact they will have in helping to build a truly sustainable global agri-food ecosystem.
Highlighting the objectives of the funding, Sugandhi Matta, Chief Impact Officer at ABC Impact, said, “We are encouraged that Cropin’s efforts to address global food challenges with technology are gaining traction. Our continued support, along with new investors, demonstrates the Cropin team’s commitment to delivering meaningful results through their work.”
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