Agritech company Cropin has raised Rs. 113 crores in funding from Google and JSR Corporation. Existing investors ABC Impact and Chiratae Ventures also participated in the round.
The company uses the funds to expand Cropin Cloud, its intelligent agriculture cloud platform, to cater to the demand for digitization and predictive intelligence. It will also expand the business to new regions and industries.
Krishna Kumar, Co-Founder & CEO, Cropin said in a statement, “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 digitalisation of global agriculture”.
Cropin was founded back in 2010 by Krishna Kumar. He previously worked for General Electric and then decides to start something that could create a big impact on society.
Cropin aims to use machine learning and AI for mining predictive intelligence to cultivable land. It also wants to transform agri-food businesses and create a secure and sustainable food value chain. Cropin works with businesses that are engaged in farming, and seed production, It also works with banks, insurance companies, government bodies, and development agencies to help farmers and agriculture businesses.
The company has more than 250 B2B customers. It has also digitized 16 million acres of farmland and has benefited over 7 million farmers.
Cropin last raised $20 million in January 2021 led by ABC Impact Asia.
