CropIn raises $20 million in Series C funding

CropIn raises $20 million in Series C funding

Bangalore: CropIn has raised $20 million in Series C funding round. Singapore based ABC World Asia led this funding round along with existing investors Chiratae Ventures, Invested Development and Ankur Capital.

Sugandhi Matta, MD – ABC World Asia, will also join CropIn board. Besides, CDC Group and Kris Gopalakrishnan’s family office Pratithi Investment Trust were among the new investors during this funding round.

Ambit Corporate Finance acted as the financial advisor to CropIn for this funding round. With this new round of investment, CropIn has raised total funding of $33.1 million to date.

CropIn an agri-tech startup will use this capital infusion to focus on its global expansion. It will continue innovating on its machine learning-based predictive analytics platform SmartRisk to further strengthen its artificial intelligence capabilities.

The agri-tech startup 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.

It 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.

“In order 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 – CropIn.

“This investment underscores our support of such smart and sustainable agri-tech solutions that can build resilience in agriculture,” said David Heng, Founder and CEO – ABC World Asia.

Cropln’s existing investors include BeeNext and the Bill & Melinda Gates Foundation’s Strategic Investment Fund (London and Seattle).

CropIn has an advisory board comprising Barrett Mooney (Chairman of Board – AgEagle), Ranveer Chandra (Chief Scientist at Microsoft), TVG Krishnamurthy (Member – Board of Directors, Ola), and Dr Iya Khalil (Global Head – AI Innovation Centre, Novartis).

“We are truly excited about the innovative models that CropIn is building out in farm management and predictive analytics,” said Karan Mohla, Partner – Chiratae Ventures India Advisors.

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