Indian agritech firm CropIn nets $20m in series C round

CropIn, an AI-driven agritech firm based in India, announced that it has raised US$20 million in a series C funding round led by Singapore’s private equity firm ABC World Asia.

Existing investors Chiratae Ventures, Invested Development, and Ankur Capital also participated in this funding round, along with new investors including CDC Group and Pratithi Investment Trust.

CropIn founder and CEO Krishna Kumar / Photo credit: CropIn

CropIn provides data-driven farming solutions – named SmartFarm and SmartRisk – to enable agri-enterprises and growers to “maximize per-acre value.”

SmartFarm, a farm data and agronomy management platform, enables agri-enterprises to adhere to food safety standards. It also helps growers adopt sustainable farming practices to build long-term economic viability and resiliency for local farming communities.

Its SmartRisk solution, meanwhile, is a machine learning-based predictive analytics platform that combines computer vision with deep-learning algorithms. It helps banks, insurance providers, and other financial institutions with underwriting and risk assessment.

The company claims the SmartRisk AI has processed more than 160 million hectares of land area and has the potential to affect 70 million farmers globally in the next three to five years.

With the new funds, CropIn will focus on its global expansion and continue to strengthen its artificial intelligence capabilities.

It recently set up an office in Amsterdam and will be hiring local leaders to drive growth in the European market.

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To date, the Indian agritech firm said it has raised a total amount of US$33.1 million. Existing investors of CropIn include Beenext and the Bill and Melinda Gates Foundation Strategic Investment Fund.