Cropin raises $14M funding from ABC Impact, Chiratae Ventures, Google, and JSR Corporation
16 January 2023, Bangalore: Cropin has secured $14M (INR 113 crores) in funding from new investors Google and JSR Corporation, as well as existing investors ABC Impact and Chiratae Ventures. The funds will aid in expanding Cropin Cloud, the company’s recently launched intelligent agriculture cloud platform, to cater to the growing demand for digitization and predictive intelligence in the global agriculture sector.
With the support of this funding round, Cropin will be able to further invest in its go-to-market efforts and expand the platform’s capabilities, including developing next-generation predictive intelligence solutions through Cropin AI Labs.
The goal of Cropin AI Labs is to bring predictive intelligence to every acre of the world’s cultivable land. In addition, Cropin plans to expand its business presence in new regions and industries, focusing on creating solutions that promote sustainable agriculture practices and address global food security challenges on a large scale.
Commenting on the investment, Krishna Kumar, Co-founder & CEO of Cropin said, “Since its founding in 2010, Cropin has been dedicated to improving the intelligence of food production and maximizing value for all stakeholders in the agricultural ecosystem. By making farms and harvests traceable, predictable, and sustainable, Cropin aims to transform how food is grown. The involvement of new strategic investors like Google and JSR Corporation, and the support of our existing investors, demonstrates confidence in our mission and impact. We are excited to partner with global technology innovators like Google, which further validates our capabilities and solidifies our position as a leader in the digitalization of global agriculture”.
Commenting on the development, Sudhir Sethi, Founder, and Chairman of Chiratae Ventures India Advisors said, “What we liked the most about Cropin is their quest for innovation, passion for solving critical global challenges and leveraging technology to transform the fundamental fabric of agriculture. I am a firm believer in technology start-ups defining new business and revenue models, innovating new products, pioneering cutting-edge technology developments, and discovering new markets for growth. Cropin has always embodied these values, and they are poised to be the largest Agritech company globally with its cloud-based, SaaS business model. This investment underlines our strong belief in their growth and the impact they deliver to co-create a truly sustainable global agri-food ecosystem.”
Raine Group is the strategic financial advisor to Cropin in this funding round.
Also Read: Union Bank sanctions loans for 150 Garuda Kisan drones under Kisan Pushpak scheme
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)