Cropin Raises $14 Mn In New Funding Round
Cropin raises $14 million in new funding round after the c series round from Google and others.
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Cropin raises a new round of funding after C series round of $14 million from Google, Singapore-based impact Assets and existing investors.
According to the reports, the company has passed a special resolution to issue 95,590 pre-series D CCPS at an issue price of Rs 11,862.68 per share to raise Rs 113.4 crore or $14 million.
Google and Impact Assets have invested Rs 40.78 crore and Rs 40 crore respectively while existing backers Chiratae Ventures and JSR Active Innovation Fund participated in the pre-series D round with Rs 24.47 crore and Rs 8.16 crore.
The Series D round seems to be an ongoing one and CropIn is likely to raise more money in the coming weeks. Founded in 2010, CropIn’s flagship product Cropin Cloud provides data and intelligence to increase farming efficiency, scale productivity and manage risk.
Following the investment, Impact Assets holds an 18.- 20 per cent stake in CropIn whereas Google commands 5.46 per cent. Chiratae Ventures and JSR Active Innovation Fund own 6.78 per cent and 1.11 per cent stake respectively.
