MapMyCrop Raises $1.8 Million in Pre-Series A Funding led by YourNest Venture Capital
MapMyCrop, the world's first MaaS-based 360-degree Imagery Agro suite, has announced the closure of its Seed funding round, raising $1.8 million.
The round was led by YourNest Venture Capital with a contribution from other angel investors, including Eaglewings Ventures.
Swapnil Jadhav, Founder & CEO of MapMyCrop, said, “This investment is a step towards transforming agriculture into a high-precision, data-driven industry that benefits farmers, enterprises, and the planet.
The investment will be used to expand operations, close pilot orders, strengthen the sales and operations team, and advance the platform's technology.
Girish Shivani, Executive Director & Fund Manager, YourNest Venture Capital, commented, “Investing in MapMyCrop offers us a compelling opportunity to capitalise on the future of sustainable agriculture. Their scalable, user-friendly satellite-based solution provides farms with precise insights for optimised yields, overcoming traditional AgriTech limitations”.
The company is also planning to launch new solutions, including an AI-based farm credit score tool and a dedicated forest monitoring system.
Swapnil said, “Our plan is to scale our cutting-edge solutions, delivering unparalleled accuracy and impact to drive sustainability and productivity".
"Together, we are shaping the future of farming, making innovation accessible to millions worldwide”, added Swapnil.
The funding comes as part of the YourNest-SanchiConnect Velocity Program 2024, an accelerator initiative to support high-growth DeepTech startups.
“This approach addresses food security and climate change, driving market growth and improving farmer livelihoods. Their global presence and the customers across multiple geographies gives them the launchpad to scale exponentially”, added Girish.
MapMyCrop is positioned as the world's first 360-degree imagery agro suite, centralising critical agricultural data into a single, user-friendly platform. With a mission to make precision farming accessible to farmers of all scales, the company currently supports over 4.7 million farmers globally and collaborates with organisations such as the US FDA on crop monitoring and sustainability initiatives.
Headquartered in New York, MapMyCrop was inspired by a personal challenge during the COVID-19 pandemic. Unable to visit his farm due to lockdown restrictions, Swapnil Jadhav, leveraging his expertise in geoinformatics, used satellite imagery to monitor his farm remotely. Encouraged by the results, he collaborated with co-founder Rajesh Shirole to refine the technology further, ultimately creating MapMyCrop. The platform combines satellite imagery, IoT and AI-driven insights to help farmers and enterprises monitor, predict and optimise crop health with unmatched precision.
As part of its growth strategy, the company aims 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.
MapMyCrop is tapping into the rapidly growing AgriTech market, estimated to reach $45 billion globally by 2028. By offering scalable, affordable and high-accuracy solutions to farmers worldwide, the company is filling critical gaps in the market, such as cost, complexity and poor scalability of existing technologies.