CropIn Technology Solutions Raises $2 Million in Series A Funding, led by Denmark Based Sophia Investment ApS

BANGALORE, September 26, 2016 /PRNewswire/ --

An Agriculture Farm Management, Monitoring and Traceability Solution Provider is on a Spree to Invest Extensively in its Existing Technical Prowess, Data Sciences and Expand its Market Potential After Having Completed Six Years into the Business of Acre by Acre Farm Digitization 

Cropin Technology Solutions, a Bangalore-based startup has formally declared its investment deal with Sophia Investment ApS, Denmark. This series A investment of $2 million, upswings the scalability of the company and provides it a sizeable balance required to increase its operation on the technical front and market expansion. The deal is a shot in the arm for CropIn Technology considering the avenues available in the agricultural sector and the CAGR of farm management software industry (ICT) growing at a pace of over 17% in India.

"A robust growth chart, faith of our existing investors and continued traction in the agri business space for penetration made it ideal for us to raise this investment with an intent of expanding our belief of serving 20 million farmers by 2020. CropIn uses data science to help farms become more efficient businesses and respond to the challenges and opportunities of the future. In the next 3 years, CropIn plans to invest $15 to $20 million to bring cutting-edge technology for every acre of farm and provide access of it to every farmer possible," said Mr. Krishna Kumar, CEO, CropIn Technology, Bangalore.

"Our Farm business CEOs are now adopting farm digitization strategy and processes with CropIn Solutions on their farm, enabling them in making unplanned yet responsive decisions. Now they can monitor business risks, productivity matrix and stay connected with production forecasts. This also includes weather monitoring and adherence of traceability regulations, thus keeping these CEOs updated in responding to new market incentives and meet rising expectations," said Mr. Kunal Prasad, COO, CropIn Technology, Bangalore.

CropIn Technology provides three cutting edge solutions such as Smart Farm, Smart Sales and Smart Risk. The solutions (ICTs) are SaaS based and are primarily used by companies involved in production, input sales, traders, insurance and banking enterprises.

"Our client retention is at 92% and is spread across geographies and varieties of crops. With current solutions of our applications, we are defining the norms of product traceability in India and globally. This also aids various commodity traders, aggregators, processors and exporters to meet International norms set across continents and across agro products exported. In fact, our applications can be customized to an extent where large corporates or even a farmer owing a few acres will find it intuitive to use. As the business model is in clean tech and sustainability space, this opens up avenues for us to work with the Government (State, Central and International), various NGOs and CSR funding corporates who wish to invest in the agricultural sector, leaving us with a varied length and breadth of client base to cater to," said Mr. Siddhartha Choudhary, Chief Revenue Officer, CropIn Technology, Bangalore.

About CropIn Technology: 

With its mission to 'increase per acre value' and vision 'to make every farm traceable', CropIn Technology brings in the latest computing technologies - data analytics, cloud computing, mobile apps and is enabling to interconnect all agricultural stakeholders on a single platform.

Currently, in its operational span of 6 years, the company manages over 70+ variants of crops ranging from field crops, fruits and vegetables, plantations, spices, coffee, cotton, tea, seeds production to name and few and has digitized (via geo tagging) over 500,000 farms which further connect over 10,00,000 farmers and serve 60+ clients across five countries.

CropIn Technology has been honored with 6 awards and recognitions for innovations in Agri Tech and currently partners with clients such as McCain Foods, Godfrey Phillips, Louis Dreyfuss Commodities, Philip Morris, Atlantic Sun Farms, Sulphur Mills and Big Basket to name a few.

For more information: Follow us @CropinTech or connect with us on Linkedin

About Project Sophia, Denmark: 

Project Sophia or Sophia Investment ApS, Denmark is a social enterprise foundation which invests and incubates companies who are engaged in various activities of providing financial and livelihood services for the poor (via microfinance, education, healthcare, sustainable farming, water irrigation, water sanitation, clean energy and sustainable housing solutions) across various countries in South Asia and Africa. This helps in significant improvement in their time-to-market, operational efficiency, long-term sustainability, scalability and increase overall profitability.

Overall, Project Sophia through its expert implementation partners and proven business methodologies ensure to provide advisory services and mentorship programs thus helping in improving the design, delivery and pricing of client-driven products and services in spaces such as micro-credit, micro-insurance, financial literacy, education, primary healthcare, livelihood financing as well as SME business support.

The project (Sophia Investment ApS) aims to increases outreach to the world's poor and unbanked by helping to bring greater empowerment in their lives.

For more information and media contact:
Aniket Jha
Manager PR & Communications
CropIn Technology Solutions Private Ltd
+91-9886310910
[email protected]

Krishna Kumar
CEO
[email protected]

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