With support from investors including the Bill & Melinda Gates Foundation and the CDC Group, cherubin It is set on the digitization of the agricultural industry. The company today announced the launch of Cropin Cloud, a cloud platform with integrated applications. Founded in 2010, Cropin Other Products is present in 92 countries, and in partnership with more than 250 B2B clients, it has digitized 26 million acres of farmland. It claims the world’s largest crop knowledge graph for more than 500 crops and 10,000 crop species.
Krishna Kumar, founder and CEO of Cropin, told TechCrunch that Cropin Cloud was developed because the agricultural industry did not have access to “a unified, coherent platform that can enable and help build a diverse set of solutions,” even when faced with disruptions due to climate change, geopolitical tensions and chain turmoil. Food supply and a growing world population.
“The global ag ecosystem is huge in depth and breadth, but oddly enough, the tools to capture and share data coherently are sorely missing,” he added.
Cropin Cloud can be used by agricultural companies of all sizes. It has three sub-platforms that allow farmers and other stakeholders in the food value chain to access Earth observation, remote sensing, data and machine learning tools to help them better manage crops and harvests.
The first sub-platform is Cropin Apps, which covers a wide range of use cases: global farming operations management, food safety measures, supply chain visibility, predictability and risk management, farm-to-table food traceability, research and development and production management. It also helps farmers track deforestation and carbon emissions.
Meanwhile, Cropin Data Hub collects data from various sources for analysis, including field farm management applications, IoT devices, drones, remote sensing satellites, and weather reports. Finally, Cropin Intelligence uses 22 contextual deep learning and the company’s AI models to assist agribusiness with data points such as crop detection, crop staging, yield estimates, irrigation scheduling, pest and disease forecasting, nitrogen uptake and harvest date estimation.
Some examples of how the Cropin technique is used include Unilever works with coconut farmers who used the company’s SmartFarm Plus app to log information about tree maturity, problems they encounter, and productivity levels. The app then used that data to provide location-specific advice, such as how much coconut sugar farmers are likely to produce.
Krupin also provided insights into weather, crop management, pest and disease forecasts, nutrient management, and soil and water management practices to the World Bank and the Government of India in a project that spanned 244 villages, 30,000 farm plots, and 77 crop species. This led to an average 30% increase in yield and productivity, with approximately 37% increase in farm yields, Krupin says.
Since its launch 12 years ago, Cropin has raised a total of $33 million. In addition to the Bill & Melinda Gates Foundation Strategic Investment Fund and the CDC Group, other investors include ABC World Asia, Chiratae Ventures, Ankur Capital, Beenext, and Chris Gopalakrishnan’s family office. Kumar said Krupin is now working on raising funds for its fourth round, and aims to increase investments in the range of $50 million to $75 million in the next six months.
Cropin is headquartered in Bangalore, with subsidiaries in the United States, Singapore and the Netherlands. Earlier this year, co-founder and chief operating officer Kunal Prasad relocated to the Netherlands to oversee European operations. Kumar says Krupin has committed annual recurring revenue of between $15 million and $25 million and that the company has grown 2.5 times over the past few years, and expects to see similar growth this year. “With the launch of Cropin Cloud, we expect 2023 to be a game-changer for Cropin in terms of revenue growth,” Kumar said.