Noted future-ready farming solutions company CropIn Technology this week raised $8 million in Series B funding. The funding for this round was led by Chiratae Ventures (formerly IDG Ventures) and the Bill and Melinda Gates Foundation Strategic Investment Fund.
Krishna Kumar, co-founder and CEO at CropIn now says that with this new Series B funding, the company is looking to expand its network to seven million farmers.
Kumar added, “To feed the 9.7 billion people in the world in 2050, agriculture efficiency must increase by 35% – 70% and technology is the key. India’s rich mix of farming practices and small landholdings provide a massive data set to inform our models.”
Thank you, @ChirataeVC! Looking forward to reaching new heights with this partnership. https://t.co/RDZmKlSgAg
— Cropin Technology (@CropInTech) November 20, 2018
CropIn’s clientele includes PepsiCo, Mahindra & Mahindra, ITC, and McCain along with banks, government bodies and development agencies.
“We are currently active in 29 countries throughout Asia, Africa, Latin America and in select European markets. As ground-truth information from these geographies continues to fill our data lake, it provides insights that create a paradigm shift in the agriculture ecosystem globally,” Kumar said in a press statement.
The Bengaluru-based company had previously raised $4 million from investors including BEENext, Invested Development, Denmark-based Sophia Investment, Ankur Capital and BSP Fund LLC.
CropIn is an intuitive, intelligent, self-evolving system that delivers future-ready farming solutions to the entire agricultural sector. They also deliver decision-making tools that bring consistency, dependability and sustainability to agri-businesses. With capabilities of live reporting, analysis, interpretation and insight that span across geographies, CropIn is digitising every farm, while data-managing the entire ecosystem. Their smarter agri-solutions are powered in real-time; for users to archive patterns, predict trends, to make a blueprint for the business in the times to come.
