January 6, 2021

CropIn raises US$20 Million in Series C funding round led by ABC World Asia to advance the reach of its farm management and predictive analytics solutions

BENGALURU, 06 JANUARY 2021 – CropIn, a leading global artificial intelligence and data-led agri-tech organization empowering stakeholders to reimagine agriculture with data, has raised US$20 million in a Series C funding round led by ABC World Asia, an Asia-focused private equity fund dedicated to evidence-based impact investing.

Existing investors Chiratae Ventures, Invested Development and Ankur Capital also participated in this funding round. Other new investors in this round include CDC Group and Kris Gopalakrishnan’s family office Pratithi Investment Trust.

CropIn will use this capital infusion to focus on its global expansion, while continuing to innovate on its machine learning-based predictive analytics platform, SmartRisk to further strengthen its artificial intelligence capabilities. CropIn is also investing to penetrate deeper in its target markets globally. Recently, CropIn opened an Amsterdam office, and will be hiring local leaders to drive growth in the European market.

CropIn’s data-driven farming solutions enable agri-enterprises and growers to ‘maximize per-acre value’. Its farm data and agronomy management platform, SmartFarm, empowers stakeholders to improve efficiency, productivity, predictability, and sustainability of their crop value-chains. SmartFarm enables agri-enterprises to adhere to food safety standards thereby ensuring farm-to-fork traceability. The platform helps growers adopt sustainable farming practices to build long term economic viability and resiliency for local farming communities. CropIn has partnered with several global players in agriculture, including development finance institutions and government entities in 52 countries, to drive their digital and sustainability goals.

CropIn’s SmartRisk platform improves underwriting and risk assessment, enabling banks, insurance providers and other financial institutions to make informed underwriting decisions, identify new markets and expand product portfolios to service high-volume low-ticket opportunities. By analyzing and interpreting farm-centric data for over 388 crops with nearly 9,500 variants across trillions of data points that grow every day, SmartRisk helps achieve high prediction accuracy at a plot-level. It does this by combining computer vision with deep-learning algorithms, on multispectral imagery derived from aerial scouting (satellites and drones), field scouting data, and hyperlocal weather.

The SmartRisk AI has processed more than 160 million hectares of land area, and has the potential to impact 70 million farmers globally in the next 3-5 years. Thus far, CropIn has positively impacted 13 million acres and 4 million farmers through the SmartFarm and SmartRisk platforms. Smallholder farmers associated with CropIn’s clientele also observed their crop yields increasing by nearly 25% in the first year and subsequently experienced optimised yield improvements in the following years, by integrating the recommended advanced agricultural techniques and quality inputs into their farming practices through CropIn’s agri-tech platforms.

“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. In order to improve yields, optimise production and improve resilience and sustainability, agri-businesses are increasingly relying on innovative agri-tech solutions like artificial intelligence, data analytics, and the internet of things. We, at CropIn, are excited to advance the ‘AI-Culture’ for Agriculture,” says Krishna Kumar, Founder and CEO of CropIn.

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.

“Sustainable food and agriculture is a core investment theme for ABC World Asia. 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. CropIn’s digital solutions will enable farmers to utilize real-time data for better decision-making and improved farm productivity. This investment underscores our support of such smart and sustainable agri-tech solutions that can build resilience in agriculture,” said David Heng, Founder and CEO of ABC World Asia. Ms Sugandhi Matta, Managing Director of ABC World Asia, will also join CropIn as a board member.

Existing investors of CropIn include BeeNext and the Bill & Melinda Gates Foundation’s Strategic Investment Fund (London and Seattle). Over the last year, CropIn has established an advisory board comprising Barrett Mooney (Chairman of Board at AgEagle), Ranveer Chandra (Chief Scientist at Microsoft), TVG Krishnamurthy (Member of the Board of Directors at Ola), and Dr Iya Khalil (Global Head of the AI Innovation Center at Novartis).

According to Karan Mohla, Partner, Chiratae Ventures India Advisors, “As active investors in the agri-tech space as well as in companies pioneering deep-tech and AI, we are truly excited about the innovative models that CropIn is building out in farm management and predictive analytics. In creating and building out a platform for multiple participants in the agriculture ecosystem, CropIn has established itself as a true global leader. With the leadership of Krishna and co-founder Kunal Prasad, they have built out a tremendous world-class team and advisory board and are on the precipice of achieving massive scale as a global company.”

Ambit Corporate Finance acted as the financial advisor to CropIn for this funding round. With this new round of investment, CropIn has raised a total funding of US$33.1 million to date.

END

About CropIn

CropIn is a leading global AI-driven agtech​ organization that provides SaaS and data solutions to ag-enterprises globally. CropIn enables businesses in the agriculture ecosystem to adopt a data-driven approach through its ground-to-cloud technology solutions.

CropIn’s unique suite of platforms – SmartFarm and SmartRisk – enable various stakeholders to adopt and drive digital strategy across their crop value-chains and operations. The company empowers the ag-enterprises with data insights that help drive initiatives around Digitization, Predictability, Traceability, Financial Inclusion, Climate Smart Agriculture and Sustainability.

Please visit www.cropin.com for more information.

About ABC World Asia

Headquartered in Singapore, ABC World Asia is a private equity fund dedicated to impact investing. Impact investing encompasses the intention to generate positive, measurable social or environmental impact, alongside a compelling risk-adjusted return.

ABC World Asia was established by Temasek Trust, the philanthropic arm of Singapore headquartered investment company, Temasek. The fund’s investment strategy aligns with Temasek’s ABC Framework for an Active Economy, a Beautiful Society and a Clean Earth, building on the ideals of the 17 UN Sustainable Development Goals.

ABC World Asia will focus on themes including – financial and digital inclusion; better health and education; climate and water solutions; sustainable food and agriculture; and smart and liveable cities.

For more information, please visit www.abcworld.com.sg

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Yeo Zuo Yi

Director
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Ryan Liew Bing En

Director
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Aditya Misra

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Silky Raheja

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Tan Ming Xian

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Yap Xue Qi

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Jason Xu

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Ngan Ye Ring

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Goh Yew Lin

Goh Yew Lin

Chairman and Non-Executive Director

Mr Goh Yew Lin is Chief Executive Officer of G. K. Goh Holdings Pte Ltd, an investment company with substantial assets in aged care in Australia and Singapore, alongside venture capital and private equity. He is Chairman of Xora Innovation, a Temasek-owned venture builder, and a Director of Temasek Trust. He was Chairman of Seviora Holdings, Temasek’s asset management arm, until September 2025, and served as a non-executive Director of Temasek Holdings from 2005 to 2018.

Mr Goh is also a board member of A*STAR (the Agency for Science, Technology and Research) and Chairman of the Governing Board of Duke-NUS Medical School. He holds a degree from the Wharton School, University of Pennsylvania.

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David Heng

David Heng

Chief Executive Officer and Executive Director

As Chief Executive Officer of Temasek Trust Asset Management (TTAM), Mr David Heng oversees two investment platforms: ABC Impact, an Asia-focused growth impact private equity firm with over S$1 billion (US$900 million) in assets under management, and Temasek Trust Capital, a purpose-aligned investment platform managing a diversified portfolio in support of Temasek Trust’s long-term philanthropic objectives.

With over 30 years in the investment industry, Mr Heng spent 14 years in senior leadership roles at Temasek, including Head of Real Estate, Head of Japan & Korea, Joint Head of Consumer, and Joint Head of China, prior to which he was with Deutsche Bank AG. He serves as an Independent Director of Sea Limited (NYSE: SE) and is a board member of the Centre for Impact Investing and Practices (CIIP). Mr Heng is an IBF Fellow (Asset Management). He holds an MBA from the University of Hull and a Bachelor of Engineering from the University of Canterbury.

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Desmond Kuek

Desmond Kuek

Non-Executive Director

Mr Desmond Kuek is Executive Director and Chief Executive Officer of Temasek Trust, the philanthropic arm of Temasek, a role he has held since January 2023. He was previously Divisional Vice Chairman, Global Wealth Management at UBS AG (2019 to 2022), where he headed Sustainable Finance for Asia Pacific, and President and Group CEO of SMRT Corporation (2012 to 2018). Earlier in his career he served nearly three decades in the Singapore public service and Singapore Armed Forces, including as Permanent Secretary of the Ministry of the Environment and Water Resources, Chief of Defence Force, and Chief of Army.

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Chan Wai Ching

Chan Wai Ching

Non-Executive Director

Ms Chan Wai Ching is Chief Corporate Officer of Temasek International and a member of its Strategy, Portfolio and Risk Committee and Senior Management Committee. She heads Temasek’s Organisation & People function and is a Director of Temasek Trust. She joined the board of Seviora Holdings, Temasek’s asset management group, in September 2025. Ms Chan joined Temasek in June 2006, following an extensive human resources career at Fullerton Financial Holdings, Citibank, Singapore Technologies, United Overseas Bank and Overseas Union Bank. She holds a Bachelor of Business Administration from the National University of Singapore and completed the Advanced Management Programme at Harvard Business School in 2012.

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Margaret Lui

Margaret Lui

Non-Executive Director

Ms Margaret Lui is an experienced investment professional in direct investments, asset management and private equity. She was Chief Executive Officer of Azalea Investment Management, a wholly owned subsidiary of Temasek, from its founding in 2015 until her retirement on 31 March 2025; under her leadership, Azalea grew to manage around US$11 billion in assets and developed its two flagship platforms, the Astrea Private Equity Bonds and the Altrium PE Funds. She remains an Adviser to Azalea and sits on the Investment Committees of its Altrium funds.

Ms Lui spent 40 years with the Temasek group from 1985, including as Senior Managing Director and, prior to Azalea, as Chief Operating Officer of two of Temasek’s affiliate investment management companies. She also serves on the Board of Trustees of the Singapore Institute of Technology, as an independent non-executive director of Lendlease, as Chair of PSA International’s Marine Services Supervisory Committee, and as a member of the Singapore Exchange’s Listing Advisory Committee.

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David Heng

David Heng

Chief Executive Officer

As Chief Executive Officer of Temasek Trust Asset Management (TTAM), Mr David Heng oversees two investment platforms: ABC Impact, an Asia-focused growth impact private equity firm with over S$1 billion (US$900 million) in assets under management, and Temasek Trust Capital, a purpose-aligned investment platform managing a diversified portfolio in support of Temasek Trust’s long-term philanthropic objectives.

With over 30 years in the investment industry, Mr Heng spent 14 years in senior leadership roles at Temasek, including Head of Real Estate, Head of Japan & Korea, Joint Head of Consumer, and Joint Head of China, prior to which he was with Deutsche Bank AG. He serves as an Independent Director of Sea Limited (NYSE: SE) and is a board member of the Centre for Impact Investing and Practices (CIIP). Mr Heng is an IBF Fellow (Asset Management). He holds an MBA from the University of Hull and a Bachelor of Engineering from the University of Canterbury.

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Tan Shao Ming

Tan Shao Ming

Chief Investment Officer

Mr Tan Shao Ming leads a diverse team of impact-oriented investment professionals in building a portfolio that generates impact alongside compelling, market-rate risk-adjusted returns across Asia.

He brings over 20 years of institutional investing experience across a range of styles and strategies. At Temasek, he worked on acquiring controlling and minority positions in Asian banks in the aftermath of the 1997 Asian financial crisis. He later focused on special situations and structured credit at Citadel Investment Group in Hong Kong, covering China, Taiwan and Southeast Asia, and led Southeast Asian mid-market investing at Citi Private Equity.

Mr Tan is a Chartered Financial Analyst. He holds a Bachelor of Engineering (Chemical), First Class Honours, and a Master of Engineering (Chemical) from the National University of Singapore.

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Sugandhi Matta

Sugandhi Matta

Chief Impact Officer

As Chief Impact Officer, Ms Sugandhi Matta leads ABC Impact’s approach to assessing, measuring and driving impact outcomes across its portfolio, and also invests for the firm across South and Southeast Asia. She brings over 20 years of investing experience in the region, having previously been Director of Investment at LeapFrog Investments, a billion-dollar impact fund focused on financial inclusion, and before that focused on Southeast Asian mid-market private equity at Actis. She began her investing career as a member of Temasek Holdings’ Financial Services team.

Ms Matta sits on the boards of several portfolio companies across India and the UK, and has also held board directorships in Thailand and Indonesia. She holds an MBA from the Indian Institute of Management, Bangalore, and a Bachelor of Engineering from Maharaja Sayaji Rao University, Baroda.

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Eugene Huang

Eugene Huang

Chief Strategy Officer

Mr Eugene Huang was previously Managing Director, Investments at Temasek, where over a 12-year tenure based in Singapore, Beijing and Shenzhen he invested and exited over US$5 billion of capital globally across industries such as software, e-commerce, social media, education and consumer. He was most recently responsible for Temasek’s technology and consumer investments in China and head of its Shenzhen office.

Mr Huang began his career as an investment banker with Merrill Lynch & Co. (now Bank of America) in New York and Hong Kong. He graduated summa cum laude from New York University’s Stern School of Business.

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Charina Chan

Charina Chan

Chief People Officer

Ms Charina Chan is Chief People Officer of ABC Impact, a role she holds concurrently with Chief People Officer of Temasek Foundation Ltd and Head of Organisation, Human Resources and Administration at Temasek Trust Ltd. She was previously part of Temasek International’s Organisation & People team, where she led the Non-Executive Talent portfolio, covering board governance and the management of an extended talent network for Temasek and its portfolio companies. Earlier in her career she worked at Fullerton Financial Holdings, a wholly owned subsidiary of Temasek Holdings.

Ms Chan holds an MBA from Imperial College London and a Bachelor of Science from the National University of Singapore.

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Koh Boon San

Koh Boon San

Managing Director, Operations (Non-Investment)

Mr Koh Boon San is responsible for finance, risk, compliance and operations at ABC Impact. He brings more than 20 years of experience across fund management, finance and the corporate sector.

Before joining ABC Impact, Mr Koh headed the business management team at HSBC Securities Services, covering trustee, fund administration and custody services, and spent 10 years at Fullerton Fund Management heading various finance, risk and compliance functions. He began his career at Pricewaterhouse before joining Temasek Holdings’ finance department.

Mr Koh holds a Bachelor in Accounting (Second Class Honours, Upper Division) from Nanyang Technological University and is a member of the Institute of Singapore Chartered Accountants.

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Jeffrey Fang

Jeffrey Fang

Head of Investor Relations and Communications

Mr Jeffrey Fang leads Investor Relations at ABC Impact, responsible for capital raising, investor engagement and external communications across global markets.

Earlier in his career, Mr Fang held roles across corporate development, operations and financial communications. He was Director of Strategic and Public Affairs at Temasek, managing global M&A communications, media relations, and crisis and issues management. He subsequently built a portfolio as an angel investor and venture operator, alongside his own advisory practice, before joining Temasek Trust Asset Management.

Mr Fang serves on the boards of Kim Dental, the Home Nursing Foundation, and several venture-backed companies. He holds an MA in International Relations and Affairs from the Fletcher School of Law and Diplomacy at Tufts University and a BA in Mass Communication from RMIT University.

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