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Agritech firm Cropin is setting up two overseas subsidiaries in the United States and Singapore to tap the markets in the region. Last year, Cropin had set up a subsidiary in Netherlands to offer its agri-tech solutions in the European Union region.
Krishna Kumar, Founder and CEO, Cropin, said the two new subsidiaries would be operational in the next few months. The Singapore subsidiary will tap the markets in Asia-Pacific including countries such as Japan and Australia, where the company sees good potential for adoption of technologies in the agri eco-system.
Cropin, a B2B agritech platform, leverages digitisation, predictive intelligence and data sciences along with technologies such as artificial intelligence and machine learning to increase efficiency, productivity in the farm sector.
The Bengaluru-headquartered company works with some of the biggest brands globally covering farming companies, agri-input providers, food processing companies, retailers, financial service providers, governments and development agencies to help them make more effective decisions, improve predictability and mitigate risk.
Global operations
Cropin works with over 250 customers and has digitised 16 million acres of farm land improving the livelihoods of more than seven million farmers, Krishna Kumar said. The company has built data sets and intelligence for over 400 crops and 10,000 crop varieties across 56 countries.
“We are also looking at acquiring companies in areas of deep technologies such as computer vision and artificial intelligence to augment our capabilities,” he added.
The company is looking for potential acquisition targets in countries including the US and Israel among others.
Set up in 2010, the company has raised $33 million in funding, so far, from investors including The Bill & Melinda Gates Foundation’s Strategic Investment Fund, ABC World Asia, Chiratae Ventures, Invested Development, and Ankur Capital among others. Krishna Kumar said the company would soon start the D-Series fund raising exercise to finance its expansion and growth plans.
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