Krishna Kumar, Co-founder and CEO, Cropin | Photo Credit: supplied pic
Bengaluru, January 9 Agtech firm Cropin has raised Rs 113 crore ($14 million) in the latest round of funding from new investors Google and the Japanese conglomerate JSR Corporation, as well as existing investors ABC Impact and Chiratae Ventures.
The company plans to use the funds, raised as part of the D Series, to expand Cropin Cloud, its recently launched intelligent agriculture cloud platform, to cater to the growing demand for digitization and predictive intelligence in the global agriculture sector.
Cropin Cloud, launched in 2022, is a digital transformation and agriculture platform. Cropin plans to use the funds to further invest in its go-to-market efforts and expand Cropin Cloud’s capabilities, including developing next-generation predictive intelligence solutions through the Cropin AI Labs. In addition, it also 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.
“We are excited to partner with global technology innovators such as Google, which further validates our capabilities and solidifies our position as a leader in the digitalization of agriculture. 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,” said Krishna Kumar, Co-Founder and CEO, Cropin. He further said Cropin Cloud has received good traction from companies both in India and overseas, from food processors, commodity traders, agri-input providers and retailers, among others.
Founded in 2010, the company focuses on improving the intelligence of food production and maximizing value for all stakeholders. By making farms and harvests traceable, predictable and sustainable, Cropin aims to transform how food is grown. This, even as the global food system faces significant challenges, including climate change, food insecurity, supply chain disruptions and geopolitical tensions, highlighting its structural vulnerabilities.
The Bengaluru-headquartered Cropin has cumulatively raised $45 million so far, and is eyeing a break-even in the next 18-24 months, Krishna Kumar told businessline.
Governments and businesses in the agriculture and food sectors are seeking ways to increase productivity, efficiency and incomes to meet domestic demand and reduce food waste. Cropin, with its strategic technology solutions, is equipped to help governments, development agencies and agri-food businesses transform and create a secure and sustainable food value chain.
Sugandhi Matta, Chief Impact Officer at ABC Impact said: “We are pleased that Cropin’s efforts to address global food challenges through technology continue to gain traction. Our continued support alongside new investors, underscores the commitment and dedication of the Cropin team in delivering impactful outcomes through their work.”
Sudhir Sethi, Founder and Chairman, Chiratae Ventures India Advisors, said the investment underlines their strong belief in growth and the impact they deliver to co-create a truly sustainable global agri-food ecosystem.