Total amount raised
$46.4 Million
Latest funding date
12/1/2022
Location
Cropin has successfully raised funds through 11 rounds, with its latest being a Series D round. The company is backed by 16 investors, including notable names like Google and ImpactAssets.
Cropin's AI-driven platform offers a range of solutions aimed at transforming agriculture through digital and intelligent technologies. Keep reading to explore the intricacies of Cropin's fundraising journey and the investors backing this innovative platform.
What Is Cropin?
Cropin is a leading AgTech company based in Bengaluru, Karnataka, India. Founded to revolutionize agriculture through AI and data-driven solutions, the company provides SaaS-based products that enhance farming efficiency and sustainability.
With a workforce of 101-250 employees, Cropin offers a range of products including Cropin Cloud, Cropin Apps, Cropin Data Hub, and Cropin Intelligence. The company has a significant global presence, impacting millions of farmers and vast acres of farmland through its technology.
How Much Funding Has Cropin Raised?
- Series D
- Amount Raised: USD 13,800,000
- Date: December 2022
- Lead Investors: Google, JSR
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Cropin's growth and expansion in providing AI and data-led SaaS solutions to agribusinesses globally.
- Series C
- Amount Raised: USD 20,000,000
- Date: January 2021
- Lead Investors: ABC World Asia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the reach of Cropin's farm management and predictive analytics solutions, and to expand globally.
- Series B
- Amount Raised: USD 8,000,000
- Date: November 2018
- Lead Investors: Bill & Melinda Gates Foundation, Chiratae Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Cropin's AI capabilities and expand its market reach.
- Series A
- Amount Raised: USD 1,182,560
- Date: September 2017
- Lead Investors: BEENEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve product offerings.
- Series A
- Amount Raised: USD 2,000,000
- Date: August 2016
- Lead Investors: Sophia Investment ApS
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new features and expand the customer base.
- Seed
- Amount Raised: USD 305,854
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and market entry.
- Seed
- Amount Raised: USD 520,000
- Date: April 2014
- Lead Investors: Invested Development
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and initial market penetration.
- Seed
- Amount Raised: USD 290,078
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage operations and product development.
- Seed
- Amount Raised: USD 61,084
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market research.
- Pre-Seed
- Amount Raised: USD 200,000
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial product concept.
Cropin has raised a total of USD 46,357,576. The current valuation is not publicly disclosed.
Key Investors
- Google
- Details: Google is a multinational technology company specializing in Internet-related services and products. It is one of the most influential tech companies globally.
- Investment Focus Areas: Technology, Internet services, AI
- Notable Investments: Waymo, DeepMind, SpaceX
- ABC World Asia
- Details: ABC World Asia is a private equity fund based in Singapore, dedicated to impact investing. It focuses on investments that generate positive social or environmental impact.
- Investment Focus Areas: Sustainable food and agriculture, financial and digital inclusion, better health and education, climate and water solutions, smart and liveable cities
- Notable Investments: Not specified
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates. It aims to enhance healthcare and reduce extreme poverty globally.
- Investment Focus Areas: Global health, development, education
- Notable Investments: Gavi, the Vaccine Alliance, Global Fund, PATH
- Chiratae Ventures
- Details: Chiratae Ventures is a venture capital firm investing in early-stage technology companies. It has a strong focus on the Indian market.
- Investment Focus Areas: Agri-tech, deep-tech, AI
- Notable Investments: Myntra, Lenskart, PolicyBazaar
- JSR
- Details: JSR is a company involved in the production of synthetic rubber, semiconductor materials, and other chemical products. It is headquartered in Japan.
- Investment Focus Areas: Chemical products, semiconductor materials, synthetic rubber
- Notable Investments: Not specified
What's Next for Cropin?
Cropin's future is brimming with opportunities, particularly in global expansion and enhancing their AI-driven platforms. With plans to penetrate deeper into target markets and collaborate with global agricultural players, the company aims to impact millions of farmers and vast acres of farmland. The potential to process more than 160 million hectares and positively affect 70 million farmers in the next few years underscores the vast scope of their ambitions.
Future fundraising appears promising, given Cropin's strong track record and the involvement of high-profile investors. The successful Series C round, led by ABC World Asia, and the participation of notable investors like the Bill & Melinda Gates Foundation, suggest that further investment rounds are likely. This financial backing will be crucial as Cropin continues to innovate and expand its market reach.
However, challenges lie ahead. Navigating the complexities of global market penetration, ensuring the scalability and accuracy of their AI-driven platforms, and competing with other agri-tech companies are significant hurdles. Additionally, regulatory and compliance requirements in various countries could pose obstacles. Despite these challenges, Cropin's focus on leveraging AI and data analytics positions them well to lead the digital transformation in agriculture.
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