Cropin
| ISIN | 🆔 |
|---|---|
| Industry | AgriTech |
| Founded 📆 | 2010 |
| Founder 👔 | Krishna Kumar and Kunal Prasad |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Cropin is an agri-tech company known for its SaaS based solutions[1] aimed to enhance traditional agricultural process with the help of cloud computing products such as Farm Management Solution, Farm Risk & Assessment Solution, Supply Chain Traceability Solution, Seed to Shelf Traceability Solution etc.[2][3][4] In June 2021, Cropin joined the European Carbon+ Farming Coalition, an initiative by the World Economic Forum to achieve carbon neutrality goals of the European Green Deal.[5][6][7]
During 2018-19, Cropin, in partnership with Government of India implemented the crop cutting experiment through artificial intelligence and machine learning for the Pradhan Mantri Fasal Bima Yojana.[8][9][10][11][12]
History[edit]
In the year 2010, Cropin (then known as CropEx) was incorporated by Krishna Kumar and Kunal Prasad[13] who are the CEO and COO of the company respectively.[14] Cropin is known for optimizing and maximizing the per-acre value of farmland for the farming community with the aid of technologies like Artificial Intelligence, Machine Learning and Deep Tech. Since its inception, Cropin has been able to digitize over 13 million acres of farmlands. Its database is consists of about 4 million farmers with in-depth data on 388 crops and about 9500 crop varieties.[15]
Initially, Cropin directly interacted with the farmers. In 2011, it shifted its business model to B2B. Cropin’s first SaaS product named SmartFarm was launched in 2012. This farm management solution enables digitization of farms to enable data-driven decision-making with a farm management solution.[3]
In the year 2013 Cropin raised $200k and $61k from Ankur Capital. In the very next year, Cropin raised $81k and $520k as BSP funds and Ankur Capital participated in seed round funding.[16][17] In 2015, the founder of RedBus, Phanindra Sama joined Cropin as an Independent Director.[18] In the same year the company raised $306k from its previous investors and in 2016, it raised funds from Denmark based Sophia Investment ApS.[19] Cropin introduced farm-to-fork traceability solution in 2016 and expanded their operations in Latin America in the same year. In 2017, it started to work with ITC, McCain, Mahindra & Mahindra, Mars, BigBasket, Sahyadri and state and central governmental agencies.[20] Including the Government of Andhra Pradesh[21]. Cropin also received $1.2 million funding from BeeNxt during this time.[22][23]
In 2018, Cropin started to work with Government of Karnataka in order to digitize the farming sector.[24][25][26][27] Cropin raised a series B round of $8 million from Chiratae Ventures (formerly IDG Ventures India) and the Bill & Melinda Gates Foundation Strategic Investment Fund during this time.[28][29][30][31][32] In the same year Cropin developed SmartRisk, a predictive modelling solution using Artificial Intelligence and Machine Learning.[33] SmartRisk primarily aids Banks and Insurance Companies to evaluate risks at the farm plot level. During 2018-19 Cropin partnered with Government of India as it undertook the implementation of crop cutting experiment (CCE) through artificial intelligence and machine learning for the Pradhan Mantri Fasal Bima Yojana.[8] In the first quarter of 2019, Cropin conducted the CCE using scalable yield mapping technology through remote sensing in the Koppal and Bellary districts of Karnataka.[34]
In 2019, Cropin started to collaborate with Punjab Agri Export Corporation, to "improve the quality of potato seed production, prevent counterfeit seeds in the State and incorporate a first-of-its-kind ‘Seed Potato Traceability’ in the entire value chain."[35].Cropin was chosen as Economic Times SDG Champion Winner for 2019.[36] In 2020, Cropin ranked in Deloitte Technology APAC Fast 500.[37][38] In the same year Cropin became the winner of the World Bank 2020 Innovation Challenge and won the AWS Innovation Challenge for its product, SmartRisk.[39]
In January 2021, Cropin raised $20 Million in a Series C venture round led by ABC World Asia. Existing investors Chiratae Ventures, Invested Development, and Ankur Capital also participated in this funding round. The other new investors included CDC Group (a DFI owned by the UK Government) and Infosys co-founder Kris Gopalakrishnan’s family office Pratithi Investment Trust.[40][41] During March, 2021 Cropin expanded its operation in Europe as it opened its office at Amsterdam.[42][43] . In June 2021, Cropin joined the goal of WEF for the carbon neutrality of the food ecosystem.[44] Later in the year, Cropin confirmed major partnerships with firms such as True Digital and Mucheki Consulting.[45][46][47] In 2021, Cropin won the GEF challenge at the COP26 summit.[48][49] In the year 2022, Cropin partnered with Heaven Sprout Foods to enhance the agricultural digitization in the Latin American Region.[50] In March 2022, Cropin won Climate Innovation Challenge award.[51]
References[edit]
- ↑ "SaaS-based agri-tech company Cropin registers 300% growth". The Economic Times. Retrieved 2022-04-29.
- ↑ "Forbes India - The Hunt For Green Data". Forbes India. Retrieved 2022-04-29.
- ↑ 3.0 3.1 Kulkarni, Vishwanath. "Cropin plans subsidiaries in US, Singapore to expand its overseas presence". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ Kulkarni, Vishwanath. "Data centric ag-tech start-ups get aggressive with overseas plans". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ "Cropin joins European Carbon + Farming Coalition to decarbonise European food system". The Economic Times. Retrieved 2022-04-29.
- ↑ "New Coalition Announces Bold Plan to Decarbonize Europe's Food System". www.eitfood.eu. Retrieved 2022-04-29.
- ↑ "EU Carbon+ Farming Coalition". Foro Económico Mundial (in español). Retrieved 2022-04-29.
- ↑ 8.0 8.1 "How AI is used to streamline Pradhan Mantri Fasal Bima Yojana". website. Retrieved 2022-04-29.
- ↑ Post, Agriculture (2019-03-06). "Cropin concludes 1st phase of CCE studies for PMFBY". Agriculture Post. Retrieved 2022-04-29.
- ↑ "Government mulls algorithm boost to farm insurance payouts". Hindustan Times. 2019-05-27. Retrieved 2022-04-29.
- ↑ "Pradhan Mantri Fasal Bima Yojana: Pilot studies to rationalise CCEs". ANI News. Retrieved 2022-04-29.
- ↑ "Agri ministry gets DGCA nod for taking drone-based crop images under PMFBY: Narendra Singh Tomar". The Economic Times. Retrieved 2022-04-29.
- ↑ "Forbes India - Facebook To 'pause' Instagram Kids; And A Chat With Cropin's Founder Krishna Kumar". Forbes India. Retrieved 2022-04-29.
- ↑ "Forbes India - Can Agritech Fix India's Fragmented Farm-to-fork Supply Chain?". Forbes India. Retrieved 2022-04-29.
- ↑ Aditya, Anisha. "Two Jharkhand born entrepreneurs are building a Global Agritech Giant". BW Disrupt. Retrieved 2022-04-29.
- ↑ "Ankur Capital invests in agri-tech company Cropin". VCCircle. 2014-02-26. Retrieved 2022-04-29.
- ↑ Burwood-Taylor, Louisa (2014-04-10). "Invested Development backs India's Cropin". Agri Investor. Retrieved 2022-04-29.
- ↑ K, Neesha Thunga (2015-04-06). "Helping farmers in identifying problems and improving produce". mint. Retrieved 2022-04-29.
- ↑ "Denmark's Sophia Investment backs farm-tech firm Cropin". VCCircle. 2016-08-30. Retrieved 2022-04-29.
- ↑ "Sowing data for a rich harvest". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ "Karnataka Government Partners With Cropin For Data Driven Farming". Inc42 Media. 2018-06-21. Retrieved 2022-04-29.
- ↑ "Cropin Technologies throws up actionable insights on standing crops; find out how". Financialexpress. Retrieved 2022-04-29.
- ↑ aparnamishra.06 (2017-09-25). "Beenext Backs Bengaluru Based AgriTech Startup Cropin". Inc42 Media. Retrieved 2022-04-29.
- ↑ "Karnataka Government Joins Hands With Agri tech Startup". Business World.
- ↑ "Karnataka government joins hands with Cropin to boost productivity, digitise farms". Life and More. 2018-08-28. Retrieved 2022-04-29.
- ↑ "ITC ties up with Andhra Pradesh Govt to produce global standard chilli". Agrospectrum India. 2019-10-07. Retrieved 2022-04-29.
- ↑ Network, Elets News (2018-06-21). "Karnataka joins hands with Cropin to digitise farms in 20 districts". Elets eGov. Retrieved 2022-04-29.
- ↑ Team, Forbes Wealth. "Impact 50: $5 Billion And More". Forbes. Retrieved 2022-04-29.
- ↑ Ahuja, Aakanksha (2018-11-20). "Cropin Technology raises $8 million from Chiratae Ventures, Gates Foundation". mint. Retrieved 2022-04-29.
- ↑ "India's Cropin Raises $8m Series B to Digitize Smallholder Farms at Scale". AFN. 2018-11-21. Retrieved 2022-04-29.
- ↑ Nov 19, PTI /; 2018; Ist, 20:06. "Agri-startup Cropin Tech raises Rs 58 cr - Times of India". The Times of India. Retrieved 2022-04-29.
- ↑ FinSMEs (2018-11-21). "Cropin Raises $8M in Series B Funding". FinSMEs. Retrieved 2022-04-29.
- ↑ India, Press Trust of (2019-03-04). "Cropin finishes 1st phase of pilot test to assess crop damage in Ktaka". Business Standard India. Retrieved 2022-04-29.
- ↑ PTI. "Cropin finishes first phase of pilot test to assess crop damage in Karnataka". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ Bureau, Our. "Punjab govt partners with agri-tech start-up Cropin for Seed Potato Traceability". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ "Agri-SaaS Company Cropin Registers a 325% Growth". www.businesswire.com. 2019-06-11. Retrieved 2022-04-29.
- ↑ "Asia Pacific Technology Fast 500™ | Deloitte | Technology, Media & Telecommunication". Deloitte. Retrieved 2022-04-29.
- ↑ "Cropin Ranks in Deloitte Technology APAC Fast 500". www.cropin.com. Retrieved 2022-04-29.
- ↑ "World Bank 2020 Innovation Challenge". Draper University | Silicon Valley Entrepreneurship Program. Retrieved 2022-04-29.
- ↑ "Temasek Fund Backs India AI Farm Tech Startup Cropin". www.bloomberg.com. Retrieved 2022-04-29. Unknown parameter
|url-status=ignored (help) - ↑ "Temasek fund backs India startup bringing AI technology to farms". mint. 2021-01-06. Retrieved 2022-04-29.
- ↑ Baruah, Ayushman (2021-03-25). "Cropin eyes 8-fold revenue growth in 3 years, expands to Amsterdam". mint. Retrieved 2022-04-29.
- ↑ "Cropin Expands in Europe With Setting up Office in Amsterdam". SMEStreet: Knowledge & Networking for Growth. 2021-03-25. Retrieved 2022-04-29.
- ↑ "Cropin joins European Carbon + Farming Coalition to decarbonise European food system". The Economic Times. Retrieved 2022-04-29.
- ↑ "Cropin, True Digital tie up for agritech solutions in Southeast Asia". The Economic Times. Retrieved 2022-04-29.
- ↑ Bureau, Our. "Cropin partners with Africa's Mucheki Consulting". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ Bureau, Our. "Cropin partners with Africa's Mucheki Consulting". www.thehindubusinessline.com. Retrieved 2022-04-29.
- ↑ "GEF Challenge Program for Adaptation Innovation names 10 new winners". Global Environment Facility. Retrieved 2022-04-29.
- ↑ "Earth Security wins GEF Challenge". Earth Security. Retrieved 2022-04-29.
- ↑ Jan 11, PTI |; 2022; Ist, 16:40. "Cropin partners with Heaven Sprout Foods to accelerate digitisation in Latin American agri-ecosystem - Times of India". The Times of India. Retrieved 2022-04-29.
- ↑ Kariappa, Prince. "Cropin wins Climate Innovation Challenge". Far Eastern Agriculture (in polski). Retrieved 2022-04-29.
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