Rice, Fruits, Coffee, Cocoa
Cropin is an AI and data-led agritech organization that provides digital solutions to key stakeholders of the agriculture value chain for both transaction and insights. SmartRisk is their predictive and prescriptive solution for risk monitoring, mitigation and forecasting intelligence. The AI and machine learning based platform detects cropping patterns and predicts the future of the crop, highlighting the risks and opportunities for agri-stakeholders. SmartFarm is their SaaS-based farm management platform to drive efficiency, achieve predictability and ensure sustainability.
Capability and features
SmartRisk is built on a powerful agri-AI engine with proprietary algorithms that enables accurate crop detection, land estimation, crop stage and health analysis, and yield forecast. Key actors in the agri-food value chain can make informed data-driven decisions that improve agricultural output by minimizing risks during the crop cultivation cycle, promote smarter and more efficient sourcing and procurement.
SmartRisk can also improve the loan collection process, optimize the loan disbursement process, preemptively assess non-performing assets, perform crop growth analysis to monitor risk in real- time, and expand lending portfolios to new regions with higher confidence. This is valuable for financial institutions, insurance companies, government bodies, commodity traders, and sourcing managers.
Lenders using SmartRisk can detect cropping patterns, monitor crop health, estimate crop yield, and also establish the historical performance of a farm or plot. SmartRisk makes loan disbursement processes more streamlined, in addition to providing lenders with event triggers on a farmer or plot level.
SmartRisk can be used by government bodies to efficiently predict crop yields in a given location for multiple types of crops to achieve varied objectives, including such studying analyzing crop productivity, nationwide yield estimation, policy planning and implementation of policies, and accurate payment of crop insurance claims, among others.
The SaaS platform, SmartFarm, is a complete farm management solution. SmartFarm enables digitizing, reporting, MIS and analytics on a single platform, alert logging and management, geo-tagging for area audits, satellite and weather input-based plot monitoring for risk mitigation and crop performance for yield predictability. SmartFarm is used by governments, development agencies, farmers, and other stakeholders.
Cropin operates on a B2B business model by catering to agri-businesses, governments, development agencies and NGOs at different levels of the ecosystem who engage with farmers. Cropin’s business model is a per acre, per user model.
Progress to date
In 2021, Cropin raised US$20 million in a Series C funding round led by ABC World Asia to advance SmartRisk and further strengthen its AI capabilities.
As of 2021, SmartRisk AI has processed more than 160 million hectares of land and reached over 7 million farmers globally, with the potential to impact 70 million farmers in the next 3-5 years.
SmartRisk’s proprietary ML algorithms enabled one of the world’s largest retailers to source high-quality grapes from farms at close proximity, thereby effectively cutting down expenses incurred in logistics and operational hassles.
A globally renowned beverage company leveraged SmartRisk’s intelligent crop detection capabilities to detect high-growth sorghum farms in order to set-up warehousing and processing centers in Nigeria.
Upcoming initiatives include identification of stress and crop stages, expansion of Cropin’s reach in Southeast Asia, accurate detection of more crops, along with their health & yield estimates.
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