# Croptimistic Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/croptimistic-technology

- Industry: Software
- Headquarters: Canada
- Website: www.swatmaps.com
- Total disclosed funding: $13M
- Latest round: Series B (Feb 8, 2023)
- Investors on record: 1

## About

Croptimistic Technology Inc., based in Canada, specializes in precision agriculture through innovative mapping technology. Its flagship product, SWAT MAPS, enhances agricultural efficiency by providing detailed soil and topography assessments for farmers.Founded in 2018, Croptimistic Technology Inc. focuses on providing precision agriculture solutions. The company has successfully completed 3 funding deals, with the most recent being a Series B round in February 2023, where it raised USD 9.1 mn from Forage Capital Partners. CEO Cory Willness leads the company, which has its headquarters in Canada.Croptimistic Technology Inc. specializes in precision agriculture through its primary product, SWAT MAPS, which comprises high-resolution soil, water, and topography maps. Launched in 2018, SWAT MAPS serves as an all-in-one variable-rate solution that enables farmers to optimize their fertilizer and seed applications, enhancing both profitability and sustainability. By understanding field variability, the mapping technology categorizes fields into ten distinct management zones based on factors such as soil texture, organic matter, moisture levels, and topographic features. The company targets a diverse clientele, including farmers and agricultural service providers across North America, Australia, and South Africa, equipping them with essential tools to improve crop management and resource allocation.Croptimistic Technology Inc. generates revenue primarily through partnerships and service agreements with local agronomy experts who implement SWAT MAPS for farmers. The revenue model is built around providing comprehensive agronomy solutions, which include access to mapping software and related support services. Clients typically engage with the company on a subscription basis, where they gain continuous access to the SWAT MAPS technology and ongoing agronomic consulting. Pricing structures are tailored based on the specific needs of the client, reflecting the complexity of service offerings such as soil sampling, data analysis, and integration with existing farm management systems. The significant retention rate of 98% among clients underscores the value and effectiveness of their precision agriculture solutions.In February 2023, Croptimistic Technology Inc. raised USD 9.1 mn in Series B funding from returning investor Forage Capital Partners. The company plans to utilize this funding to support research and development efforts. Croptimistic Technology Inc. intends to expand its product offerings and enhance the capabilities of SWAT MAPS, with new features set to launch in the upcoming year. The firm aims to penetrate additional markets, specifically targeting agricultural sectors in Europe and Asia by the end of 2024.

## Funding rounds

- Series B, Feb 8, 2023, $9.1M — Forage Capital Partners
- Series A, Jun 3, 2021, $3.5M — Forage Capital Partners

## Investors

- Forage Capital Partners (https://capitalatlas.ai/funds/forage-capital-partners) — Series A, Series B