Total amount raised
$46.4 Millions
Latest funding date
12/1/2022
Location
Cropin has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company offers a suite of SaaS-based solutions aimed at transforming the agriculture sector through AI and data-driven technologies.
Continue reading to delve into the details of Cropin's funding journey and discover the key investors supporting this innovative agri-tech platform.
What Is Cropin?
Founded in 2010, Cropin is an AI and data-led agri-tech company based in Bengaluru, Karnataka, India. The company was established by Krishna Kumar and Mouhiit Mohan.
Cropin offers a suite of SaaS solutions designed to digitize and optimize agricultural operations. Their products include farm management, farmer engagement, and traceability solutions, leveraging AI/ML models, satellite imagery, and cloud computing.
With a team of 101-250 employees, Cropin has digitized 16 million acres of farmland and improved the livelihoods of over 7 million farmers globally.
How Much Funding Has Cropin Raised?
- Pre-Seed Round
- Amount Raised: $200K
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core technology and launch the first product.
- Seed Round
- Amount Raised: $61.1K
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage operations and product development.
- Seed Round
- Amount Raised: $290.1K
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product features.
- Seed Round
- Amount Raised: $520K
- Date: April 2014
- Lead Investors: Invested Development
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Seed Round
- Amount Raised: $305.9K
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand the customer base.
- Series A
- Amount Raised: $2M
- Date: August 2016
- Lead Investors: Sophia Investment ApS
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and enter new markets.
- Series A
- Amount Raised: $1.2M
- Date: September 2017
- Lead Investors: BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve technological capabilities.
- Series B
- Amount Raised: $8M
- Date: November 2018
- Lead Investors: Bill & Melinda Gates Foundation, Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and enhance AI-driven solutions.
- Series C
- Amount Raised: $20M
- Date: January 2021
- Lead Investors: ABC World Asia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To focus on global expansion and innovate AI capabilities.
- Series D
- Amount Raised: ₹1.1B (approx. $13.3M)
- Date: December 2022
- Lead Investors: Google, JSR
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological infrastructure.
Total Amount Raised: $45.9M
Current Valuation: Not publicly disclosed
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. It is known for its search engine, cloud computing, and AI technologies.
- Investment Focus Areas: Technology, AI, Cloud Computing
- Notable Investments: Waymo, DeepMind, SpaceX
- ABC World Asia
- Details: ABC World Asia is an Asia-focused private equity fund dedicated to impact investing. It aims to generate positive social or environmental impact alongside financial returns.
- Investment Focus Areas: Sustainable food and agriculture, financial and digital inclusion, better health and education
- Notable Investments: Not publicly disclosed
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates. It focuses on global health, education, and poverty alleviation.
- Investment Focus Areas: Global health, education, poverty alleviation
- Notable Investments: Gavi, the Vaccine Alliance, Global Fund, PATH
- Chiratae Ventures
- Details: Chiratae Ventures is an India-based venture capital firm investing in early-stage technology companies. It has a strong focus on innovation and growth in the tech sector.
- Investment Focus Areas: Early-stage technology companies, deep-tech, AI
- Notable Investments: Myntra, Lenskart, Bounce
- JSR Corporation
- Details: JSR Corporation is a Japanese company specializing in the production of synthetic rubber and fine chemicals. It is a leader in materials innovation and technology.
- Investment Focus Areas: Synthetic rubber, fine chemicals, advanced materials
- Notable Investments: Not publicly disclosed
What's Next for Cropin?
Cropin's future looks promising with significant opportunities for global expansion, particularly in Europe and Africa. The company aims to enhance its machine learning-based predictive analytics platform, SmartRisk, and deepen market penetration. With the potential to impact 70 million farmers globally in the next 3-5 years, Cropin is well-positioned to leverage industry trends like digitalization and AI in agriculture.
Future fundraising opportunities appear bright, given Cropin's strong track record and the involvement of high-profile investors like ABC World Asia and the Bill & Melinda Gates Foundation. However, challenges such as navigating global market complexities, ensuring data accuracy, and competing with other agri-tech firms remain. Despite these hurdles, Cropin's innovative solutions and strategic partnerships are likely to attract further investment and drive continued growth.
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