Last week, CropiIn Technology Solutions, an Agriculture technology provider, raised funding from Invested Development. It is said that the money invested in the company will be used to improve its technology, hire more talent and explore opportunities in new markets like Kenya, Mexico, Indonesia and the Philippines.
Although CropIn did not disclose the details of the investment, Krishna Kumar – the chief executive at CropIn – commented on the news last week. “Large companies,” he said, “have not given technology to agriculture, [and] we are focusing on that.”
CropIn uses data analytics to understand agricultural data and then offers their insights to customers so that they can improve the crop productivity in the following season(s). Considering the amount of food that is lost during the production cycle – estimates suggest Rs 90,000 crore is lost to pest attacks alone – the investment into the company will help facilitate the use of big data to ensure farmers get the most money out of their crops.
CropIn currently serves big clients in the agriculture industry like ITC Group, Rallis and Nuziveedu Seeds. However, their client portfolio also includes multinational companies like PepsiCo and Mahindra & Mahindra. They have received extensive support by these companies in terms of mentorship and connections with other organisations.
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(Image Credit: Rex Turgano)