Agritech startup Cropcoin (Pehle Jaisa) has raised Rs 12 Crore in Pre-Series A round led by Unicorn India Ventures. The round also saw participation from Climate angels
Funds raised will be strategically deployed for geographical expansion for scaling operations from 10 districts to the entire 66 districts of Bihar and Jharkhand. They will also be directed towards product development to enhance R&D for bio-category products to improve soil health and reduce chemical usage along with building infrastructure to reach a ₹100 Crore ARR in the next 24 months.
Founded in 2022 by serial entrepreneurs Pankaj Pandey and Ehtesham Farooqui, alongside a team of industry veterans, Cropcoin (Pehle Jaisa) is an agritech startup dedicated to solving agricultural waste management and soil health degradation. The company transforms animal waste into organic fertiliser and bio stimulants at the source. Cropcoin’s onsite solutions help poultry and daily farms turn waste into value, boosting their profits while keeping farms cleaner.
Commenting on the fund raise Uttam Kumar, Co-founder, Cropcoin, says, “Our mission at Pehle Jaisa is to redefine the rural economy by turning agricultural waste into a high-value resource. This investment from Unicorn India Ventures validates our decentralized approach, which not only improves soil health but also makes farming more profitable for the smallholder. We aren’t just building a supply chain; we are building a self-reliant agricultural ecosystem that restores the land to its original, healthy state—exactly as the name ‘Pehle Jaisa’ suggests.”
The company is helping to alleviate the adverse impact of chemical fertilizers by encouraging use of more sustainable and farming methods. By promoting organic practices and traditional techniques, it helps improve soil content and optimise soil health. This not only helps reduce the usage of chemical fertilizers but also in greenhouse gas emission, making the environment cleaner. Additionally, the company also supports the production of chemical-free food which helps in lower health risks related to hazardous residues and ensures safer and more nutritious produce for consumers.
Cropcoin has introduced a new line of bio-category products designed to restore soil health and biodiversity, significantly reducing farmer input costs and reliance on chemical inputs. The company is growing at 3x year-on-year in active districts and is set to close the year at a ₹10 Crore ARR while maintaining minimal burn.
Pulkit Mehrotra, Vice President, Unicorn India Ventures, says, “Indian Agritech market is experiencing rapid growth, moreover the rising awareness of sustainability and environmental fluctuations are influencing agritech trends in India. Farmers are increasingly turning to precision agriculture and moving towards bio-fertilizers to improve soil health and cut down on chemicals. This not only helps in lowering the costs for farmers but also protects the environment and soil in the long run. Cropcoin uses a hyperlocal and decentralised model which has helped them to expand faster. We believe the company will build a bigger farmer community going forward and with such innovation coming out of India this will definitely promote sustainable and highly organic farming inputs and help lower the agriculture cost in India.”
Cropcoin in the last 12 months has grown its revenues 3X and expanded its farmer network to 70,000 from 20,000 across Bihar, Jharkhand, and Manipur. With an aim to build a decentralized supply chain model, the company will focus on capturing the entire 66 districts in Bihar and Jharkhand from the current 10 district presence and will further strengthen its presence in the North East over the next 3 years. In the next 12 – 18 months, CropCoin aims to complete the 66-district rollout in Bihar and Jharkhand, doubling its farmer reach to 1.5 Lakh+ and solidifying decentralized processing units.
