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Mitti Labs, a climate technology startup based in New York and Bengaluru, has secured $9.5 million in Series A funding led by Aramco Ventures to address water scarcity challenges in Asian rice farming. The investment brings the company’s total funding to $12.5 million and represents the first Indian startup investment for Saudi Aramco’s venture arm. Additional backers include Lightspeed India, Godrej Industries Group, Cisco, and other investors.
The startup leverages satellite imagery and artificial intelligence to help farmers reduce water consumption and methane emissions from rice cultivation. Rice farming is particularly resource-intensive, accounting for a significant portion of agricultural water usage and methane output. Mitti Labs’ platform creates digital field models that monitor crop health, water levels, and emissions across smallholder farms. The company reports that farmers adopting its recommended irrigation techniques have achieved approximately 40% water reduction and over 50% methane emission cuts while maintaining crop yields.
Mitti Labs has rapidly expanded its farmer network from 8,000 participants in its inaugural 2024 season to more than 100,000 this year across Indian states. The company generates revenue through carbon credit sales and its data analytics platform, serving clients including Google-backed carbon marketplace Cool Effect, rice producer Ebro Foods, and agricultural firm Syngenta. With the new funding, Mitti Labs plans to establish operations in the Philippines this year, followed by expansion into Indonesia and other Southeast Asian nations in 2027, targeting millions of smallholder farmers by 2030.
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Originally reported by Techcrunch →
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