Saudi Aramco backs India’s Mitti Labs to make Asia’s rice farming more water-resilient
As rising temperatures and shifting rainfall patterns put Asia’s water-intensive rice farming under pressure, Mitti Labs, a New York- and Bengaluru-headquartered climate-tech startup, has raised $9.5 million in an investment led by Aramco Ventures, Saudi Aramco’s venture arm, to expand across Asia with a platform that combines satellite imagery, AI, and field operations to help farmers cut water use and methane emissions.
Other investors in the Series A round included existing backer Lightspeed India, as well as Godrej Industries Group, Cisco, Francis Family Fund, and Volta Circle. With the latest funding, Mitti Labs has now raised $12.5 million, including a $3 million seed round in July 2024.
Rice, the staple food for more than half the world’s population, is one of the most water-intensive crops to grow. Rice fields kept under continuous flooding also account for a significant share of agricultural methane emissions.
Since launching its first programs in...
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