The Rize group
Rize, an agritech platform aiming to put together sustainable rice cultivation viable via cutting edge and data-driven practices, has closed its USD$14 million Line A investment spherical.
Step forward Power Ventures, GenZero, Temasek, and Wavemaker Have an effect on co-led the spherical.
This spherical will beef up Rize’s generation stack, together with its measuring, reporting and verification (MRV) generation.
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The capital will even allow it to extend its operations deeper into Indonesia and Vietnam and support toughen its group of agronomists to over 100 through the tip of 2024, probably achieving over 20,000 farmers. The company additionally plans to extend into alternative rice-producing South and Southeast Asian nations in 2025.
Rize used to be shaped via a three way partnership between Temasek, Wavemaker Have an effect on, Step forward Power Ventures and GenZero to decarbonise rice cultivation in Asia. It’s development a platform to spot and enforce efficient methods to leave greenhouse fuel (GHG) emissions in rice cultivation and the suitable financial incentives around the worth chain to pressure the adoption of sustainable cultivation ways.
Its generation stack captures important agricultural information very important for enforcing sustainable farming practices, making rice farmers extra weather resilient, expanding their abridge turnovers, decreasing prices, and facilitating environment friendly get right of entry to to finance. Rize targets to get rid of 100 metric tonnes of carbon emissions date bettering farmer livelihoods.
“We are confronted with the challenges of addressing the high levels of methane emissions and the water-intensive practices prevalent in rice farming, which accounts for 10 per cent of global methane emissions, a figure that is set to rise if unchecked,” stated Dhruv Sawhney, CEO of Rize.
“Another hurdle is the lack of precise data, particularly among the numerous smallholder farms across South and Southeast Asia, as well as the increasingly high cost of farming due to increased input prices and a changing climate. Our technology stack seeks to tackle these challenges. By doing so, we are not just aiming to cut down 100 million tonnes of carbon emissions, we are also enhancing the economic stability of farmers, ensuring that improved farmer livelihoods and reduced emissions go hand-in-hand,” he added.
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Rize targets to reinforce over 7,000 hectares of rice farming this coming season. Those projects are projected to decrease emissions through 50 in keeping with cent, leave H2O utilization through 20 in keeping with cent, and building up farmer earning through as much as 30 in keeping with cent, making sustainable rice farming a viable and tasty choice.
“Our platform, and the data it captures, is pivotal in modernising rice farming, leveraging technology to enhance yield and efficiency sustainably,” remarked Sawhney. “Given that producing a single bowl of rice requires over 200 litres of fresh water, and considering that the entire rice industry accounts for more than a third of the world’s irrigation water, the urgency to adopt sustainable methods is clear.”
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