Cropcoin: Revolutionising Agritech in Bihar and Jharkhand

Cropcoin has secured Rs 12 crore in a pre-Series A funding round, primarily led by Unicorn India Ventures with the involvement of existing investor Climate Angels. This emerging agritech firm, based in Gurugram, had raised $300K in the same funding phase, which was co-led by Pantnagar Capital and Climate Angels in June of last year, along with an earlier seed funding of $169K.

Expansion Plans for Cropcoin

The newly raised funds will facilitate the expansion from 10 districts to all 66 districts within Bihar and Jharkhand. Established in 2022 by Pankaj Pandey and Ehtesham Farooqui, Cropcoin is dedicated to addressing agricultural waste management and enhancing soil health.

Innovative Solutions for Sustainable Farming

Cropcoin works by transforming animal waste into organic fertilisers and bio-stimulants right at the source. This process allows poultry and dairy farms to convert waste into valuable products while simultaneously improving farm hygiene and profitability. The company strongly advocates for sustainable farming methods, aiming to reduce reliance on chemical fertilisers, enhance soil health, and lower greenhouse gas emissions.

Focus on Chemical-free Food Production

Additionally, Cropcoin’s initiatives support the creation of chemical-free food, leading to safer and more nutritious options for consumers. The startup has introduced an array of bio-products designed to restore soil health and promote biodiversity, all while minimising costs for farmers.

Growth and Future Projections

In just a year, Cropcoin has achieved a remarkable threefold increase in revenue and has expanded its farmer network from 20,000 to an impressive 70,000 across Bihar, Jharkhand, and Manipur. The company is projected to realise an annual recurring revenue (ARR) of Rs 10 crore, all while maintaining minimal operational burn.

Future Initiatives

Over the next 12 to 18 months, Cropcoin plans to complete its rollout across all 66 districts in Bihar and Jharkhand, aiming to grow its farmer base to over 1.5 lakh. There are also plans to strengthen its presence in the Northeast region of India.