Agritech startup, CropIn has raised $20 million in Series C funding led by Temasek-backed ABC World. The funding round also saw investment from existing investors Chiratae Ventures, Invested Development and Ankur Capital along with fresh investors CDC Group and Pratithi Investment Trust of Kris Gopalakrishnan’s family office.
With this round, the total funding raised by the artificial intelligence and data-led agritech startup stands at $33.1 million.
The Bill & Melinda Gates Foundation-backed startup will utilise the funds raised to expand globally and to innovate its analytics platform – SmartRisk, which is based on machine learning.
Krishna Kumar, Founder and CEO of CropIn, said, “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.”
The Managing Director of ABC World Asia, Sugandhi Matta will also join the board of CropIn as part of the fresh fund-raised.
David Heng, Founder and CEO, ABC World Asia said – “CropIn’s digital solutions will enable farmers to utilise real-time data for better decision-making and improved farm productivity. This investment underscores our support of such smart and sustainable agri-tech solutions that can build resilience in agriculture.”
The financial advisor to CropIn for the latest funding round was Ambit Corporate Finance.
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.