ABC World Asia invests in agribusiness firm
Agri-tech firm CropIn will use the capital infusion for global expansion and analytics platform.
Private equity fund ABC World Asia has led a Series C funding round to raise US$20m for data-led agri-tech organization CropIn.
CropIn is a global AI-driven agri-tech company that provides data solutions to agri-enterprises through its ground-to-cloud technology solutions.
CropIn will use the capital infusion to focus on its global expansion, whilst continuing to innovate on its machine learning-based predictive analytics platform, to further strengthen its artificial intelligence capabilities. It has recently opened an Amsterdam office, and will be hiring local leaders to drive growth in the European market.
“The robust, predictive power of digitalisation offers tremendous potential for the agriculture industry to leapfrog its many challenges in the coming years. The industry is capturing more data than ever, on everything from agronomy, weather and logistics to market price volatility, which has helped reduce acute data gaps throughout the value chain,” CropIn founder and CEO Krishna Kumar said.
According to ABC World Asia founder and CEO David Heng, sustainable food and agriculture is a core investment theme for them.
“The agriculture industry is an important pillar of the global economy, in particular driving Asia’s growth and feeding the region’s rapidly increasing population. The industry now faces challenges more pronounced than before, with the COVID-19 global pandemic highlighting the vulnerability of global food supplies and impacting the livelihoods of many smallholder farmers,” Heng said.
Based in Singapore, ABC World Asia invests in companies that demonstrate commitment to generating positive and measurable social or environmental impact, alongside the ability to
deliver compelling risk-adjusted returns.