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Cropify, an Adelaide-based ag-tech startup that utilises computer vision and artificial intelligence (AI) to classify pulses and grains, has raised $2 million ahead of a commercial launch in Australia in early 2025 followed by the commencement of trials for the technology in Canada.
Founded by husband-and-wife leadership team Andrew Hannon and Anna Falkiner, Cropify has developed a hardware-software solution that captures high-resolution imagery of pulse and grain samples, and uses AI to make assessments of the crop's visual attributes, defects, and contaminants.
The company - based in Adelaide's Lot Fourteen precinct - reports that trials to date show a 98 per cent grading accuracy in just 1.5 minutes, compared to a 94 per cent accuracy level in 20 minutes for human classifiers.
The founders aim to replace visual classification at all assessment points along the supply chain, allowing growers, grain bulk handlers, and marketers to grade pulse samples with objective, repeatable precision, driving significant efficiency across the entire category.
They claim that by reducing carbon dioxide emissions and plastic usage, the technology not only promotes sustainability but also delivers tens of millions of dollars in savings to the sector.
Initial development has delivered a module for lentils, but chickpeas, faba beans, wheat and barley are all in the offing while a development roadmap has been put in place for applying the tech to specialty coffee.
Brisbane-based Mandalay Venture Partners and Singapore-headquartered Hatcher+ have teamed up as cornerstone investors in the round, contributing a combined $850,000.
The round represents the first partnership between Mandalay and Hatcher+ to identify and support startups developing groundbreaking technology to improve how food is grown, distributed, and consumed. To do this, they will combine Mandalay's expertise, network and deal flow in the agrifood sector, with Hatcher+’s advanced AI-powered FAAST (Funds as a Service Technology) platform.
"Our mission at Mandalay Venture Partners is to sustainably feed the world’s growing population by supporting the most promising agrifood tech startups," says Mandalay Venture Partners managing partner Mark Gustowski.
"Partnering with Hatcher+ allows us to leverage their AI-driven platform to ensure we’re backing the best innovators with the potential to transform the global food system.
"We are committed to providing these startups with the global capital, expertise, and networks they need to succeed, and this partnership amplifies our ability to do so."
Hatcher+ managing partner John Sharp says the partnership with Mandalay aligns with the firm's vision of using advanced technology to drive impactful investments.
"By integrating our FAAST platform with Mandalay’s sector-specific expertise, we can offer unparalleled support to startups, ensuring they have the resources, knowledge, and network to succeed," he says.
"We aim to create a more sustainable, resilient, and equitable food system. Our goal is to transform groundbreaking ideas into thriving businesses that can significantly impact the environment and society as a whole."
Cropify was bootstrapped prior to the seed round, but the company has needed extra funding as it prepares for a commercial launch in the March quarter of 2025 and trials in Canada in the same calendar year. The Cropify team is travelling to Canada next month for further market validation work.
"Since starting Cropify in 2019, we’ve self-funded our journey, driven by a deep commitment to transforming the grain industry," says co-founder Anna Falkiner, Cropify's CEO.
"This funding round marks a pivotal moment, enabling us to strengthen our team and focus on commercialising our innovative technology in Australia in 2025."
Co-founder and chief operating officer (COO) Andrew Hannon says the team is "thrilled" to see this level of investment, which underscores the value of our technology and the pressing need it addresses.
"The strong backing from all corners of the agricultural industry—from growers to advisors—is incredibly encouraging," says Hannon.
"We believe our solution has the potential to make a significant difference, not just in our local market, but on a global scale, and it’s clear our investors share that vision."
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