Everything Krishna Kumar said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Kumar predicts a $100M ARR SaaS company will emerge selling inside India
“That is going to happen.”
Kumar: CropIn was the first company globally doing data-driven farming
“We were the first company globally to talk about data-driven farming. In US and Europe also, you know, many startups has come up, but they came after”
Startups driving behavioral change should target large enterprises over SMBs
“People say when you are in a startup, go to a smaller companies who can write a check quickly, take a decision quickly. And this was advice I got from many of my mentors, but I went against it. I went to the enterprise because in GE, I know to bring a change, …”
Kumar: CropIn adopted a strict policy to never conduct free POCs
“And after that, we always decided that we will never do a free POC and every client paid us. And actually that funded our whole, you know, initial days when we didn't have the funding.”
Kumar: Raising VC without a proven US parallel is very difficult
“In a stage where nobody has ventured, it's very difficult to get the venture money because there is no parallel. Today, a lot of investment happened because there's a parallel in US or somewhere it has worked or in a similar market.”
Text advisory outperforms audio calls because rural farmers hang up
“We can do audio also, but you know, what we in our study, what we have found that nobody picks the phone and even somebody picks the phone, they cut because that's the, because it's coming from some number. So, so in order to be more relevant, it's better to h…”
Satellite AI cuts crop insurance payouts from twelve months to days
“Today it takes even eight to nine months and even 12 months to give the money to the farmer, even if his crop has failed, because all the validation is manual. But with this kind of system, you can make the payouts within a, you know, within a day or 15 days.”
Farm advisory is ineffective without financing for recommended agricultural inputs
“If the farmer doesn't have access to financing, nothing is going to change. If he has surplus money, he can do experiment. If he has the money, he can use your advice and put some right, you know, input into his farm. But let's say if you give him a best of th…”
CropIn predicts farm pest outbreaks 15 days ahead with over 90% accuracy
“Irrigation scheduling, pest disease detection, not detection, prediction. That what pest you can expect in next 15 days with more than 90% accuracy. So without even it has happened, we can predict that this is coming.”
CropIn mapped India into 10-meter pixels and processed it in a week
“So actually we processed 10 by 10 meter pixel. We divided the country, India as a country into 10 by 10 meter pixels. And we tagged that pixel that which, what is the story of that pixel? In 2017, which crop was there? In 2018, which crops were grown? What was…”
Kumar: Products solving India's complex agriculture can scale globally anywhere
“Look at India as a sandbox where you can build products. You can experiment products because there's so much complex problems to solve here in agriculture. And once you solve this problem, you can scale it globally. And if you can build the product, which can …”
Cropin hits $2.4M ARR and projects $4.5M by March 2019
“So we are at 2.4, and our visibility is to close it at 4.5 million a hour.”
Cropin expects pipeline customers to sign contracts exceeding $1M ARR
“So there are two, three, five, six customers we are talking to, two, three customers will convert, and the ticket size are going to be a north of a million dollar.”
CropIn manages 8 million acres across 52 countries and 400 crops
“And to our surprise, we are in 52 countries today. Almost all the large enterprises are using our product, not only in one country, but in multiple countries, we manage around eight million acres of production on our platform. With 400 different crops and 9000…”
CropIn Works with Banks Across India, Southeast Asia, and the US
“So we are not only working in India with the banks. We are also working in Southeast Asia and did some work in US as well, where the banks are giving our loans to the farmer and this opens up the black box, right?”
CropIn AI refreshes data for 80% of Indian farmland every month
“In the smartest product, we have mapped 18 states in the country, and we refresh data of every plot of those 18 states every month. So that is, that accounts to 80% of the farmland and the 80% of the farmer, but we don't have the information who is the owner o…”
CropIn CEO confirms Gates Foundation invested in their Series B round
“Melinda Gates has been our series B. In Series B, they participated in the round when they saw the impact, the scale of the scale of the business, right?”
CropIn operates across 52 countries to enable AI transfer learning
“We are present in the 52 countries. So our models are learning about the crop from all those different climatic zone, different countries, and also have building the ability to transfer learn, right?”
Kumar: Cropin counts McCain, ITC, Philip Morris, and Syngenta as enterprise clients
“For example, we work with companies who are into farm farm production, like McCain, ITC Philip Morris, Syngenta.”
McCain uses Cropin to manage 100,000 global potato growers
“For example, if you look at McCain, McCain does potato growing for their chips making. They engage in the background, a lot of farmers to grow the potato. So, but the company will pay our pay to us, but they will use our platform to manage their 100,000 grower…”
Cropin international customers pay an average of $50k per year
“So if you look at our international, international customers pay us on an average you know, 50,000 dollars, some customers have a hundred K, 200 K dollars also.”
Cropin Indian enterprise customers pay an average of around $13k annually
“And if you look at Indian businesses, they are somewhere around 13,000 dollars on an average. But again, there are customers who are at the enterprise level paying more, more than that.”
Kumar: Revenue from banks accounts for close to 10% of Cropin's total
“Close to 10%.”
Kumar: Cropin closed fiscal 2018 at $1.5 million ARR
“So we closed at 2018. We closed March 31st. We closed at 1.5.”