Farm management software MapMyCrop has raised $1.8 million in a seed funding round led by YourNest Venture Capital along with participation from other angel investors, including Eaglewings Ventures. The funding comes as part of the YourNest-SanchiConnect Velocity Program 2024.
The startup had previously raised an undisclosed amount in the same round from Startup Wise Guys and others.
The proceeds will be used to expand operations, close pilot orders, strengthen the sales & operations team, and advance the platform’s technology, MapMyCrop said in a press release.
Launched in 2021 by Swapnil Jadhav and Rajesh Shirole, MapMyCrop is a first 360-degree imagery agro suite, centralising critical agricultural data into a single, user-friendly platform. The platform aims to make precision farming accessible to farmers of all scales. The platform combines satellite imagery, IoT and AI-driven insights to help farmers and enterprises monitor, predict and optimise crop health with unmatched precision.
MapMyCrop states that it currently supports over 4.7 million farmers globally and collaborates with organisations such as the US FDA on crop monitoring and sustainability initiatives. It is also planning to launch new solutions, including an AI-based farm credit score tool and a dedicated forest monitoring system.
MapMyCrop aspires to penetrate emerging markets in Africa, Latin America and Southeast Asia while deepening its presence in the US and Europe. The company is also working on localised solutions for different regions, addressing specific agricultural challenges with tailored AI-driven insights.
According to market research, the agritech market is estimated to reach $45 billionglobally by 2028.
MapMyCrop claims to be a first complete 360-degree imagery agro suite, which includes five suites: onboarding, crop monitoring, detection, prediction and sustainable agriculture add-ons. Its onboarding suite offers automated crop field boundary delineation, crop type detection, and a historical data repository for easy land use comparison.
Vishal Gawai
Verified JournalistVishal Gawai is the founder of TheIndiaBizz, a media and information platform in India that offers in-depth coverage of the country's startup ecosystem.
