Rize eyes tech boost, expansion through $18.95m Series A funding

The company targets growing its team of agronomists to over 100 to reach more rice farmers in 2024.

Rize has raised $18.95m (US$14m) through Series A funding that will be used to improve its technology and assist more rice farmers in other markets.

In a statement, the company said the funding round was co-led by Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact.

The investment will enhance Rize's technology stack including its Measuring, Reporting, and Verification (MRV) technology, it noted.

Rize said its technology stack aims to address some of the challenges rice farmers are facing. These include a lack of reliable data, high carbon emissions, and high cost of production.

“Our technology stack seeks to tackle these challenges. By doing so, we are not just aiming to cut down 100 million tonnes of carbon emissions, we are also enhancing the economic stability of farmers, ensuring that improved farmer livelihoods and reduced emissions go hand-in-hand,” Rize CEO Dhruv Sawhney said.

The funding will also allow Rize to expand its operations in Indonesia and Vietnam, and its team of agronomists to over 100 by end-2024 to reach over 20,000 farmers. The company also has plans to tap other rice-producing countries in South and Southeast Asia next year.

This coming season, Rize said it aims to improve over 7,000 hectares of rice farming by demonstrating a practical path to environmental sustainability and economic improvement.

These initiatives are seen to lower emissions by 50% and reduce water usage by 20%, as well as increase earnings by up to 30%.

ALSO READ: Focus sought for green transition, food security, workers’ needs in 2024 budget

“As global rice demand is projected to double by 2050, mitigating the environmental impact of rice cultivation is essential in the fight against Climate Change,” said Carmichael Roberts from Breakthrough Energy Ventures. “Rize’s data-driven technology and expert team of agronomists are a powerful combination for tackling this challenge and scaling viable sustainable rice farming across Asia and globally.”

Wavemaker Impact founding partner Marie Cheong also expressed confident in Rize’s “to scale the adoption of sustainable farming techniques across the region, scaling the impact of decarbonisation and livelihood improvement of smallholder farms.”

(US$1=S$1.35)

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia