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.
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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.
