Temasek Holdings Pte-backed ABC World Asia has raised $20 million for CropIn, an artificial intelligence (AI) and data-based agritech startup in order to help the adoption of digital technologies in farming.
The AI company offers software-as-a-service (SAAS) products to farms and organizations so as they can enhance the predictability, efficiency, and sustainability of crops. It is focusing on areas like crop diagnostics and farm automation, making it stand out in the agritech sector.
The company analyzes data such as aerial imagery, ground scouting, hyper-local weather, and market price fluctuations from millions of acres across 4 million farms worldwide in order to predict productivity and monitor the risks for crops. Hence, the company can warn small farms on crops’ diseases or adverse climate events to come.
With the current sanitary crisis, many countries are at risk of disrupted food supply chains, food safety, and food security. Thus, there is a vital need to monitor and safeguard the supply chain.
The new funding will help the company grow globally and strengthen its technology, especially at a time when India’s agritech industry is increasing immensely.