CropX Acquires SCIO, Expanding Digital Agronomy and Targeting Profitability by 2027
- Published
- Source
- AgFunderNews
CropX has acquired SCIO, a near-infrared spectroscopy firm, marking its largest deal to date and its eighth acquisition in six years. This acquisition enhances CropX's digital agronomy platform by integrating pre- and post-harvest crop quality measurement capabilities, with SCIO's devices deployed globally across various crops.
The acquisition is significant as CropX approaches an annual recurring revenue of $20 million and aims for profitability by 2027. SCIO's technology, which includes portable devices for measuring moisture, protein, oil, and sugar content, will allow CropX to connect agronomic recommendations with measurable harvest outcomes, thereby closing the loop in agronomic decision-making.
Looking ahead, CropX plans to integrate SCIO's technology into its platform, leveraging large data volumes to draw causal links between agronomic interventions and crop quality. No further timeline was disclosed at the time of publication.
Original report
CropX acquires NIR spectroscopy firm SCIO in biggest deal yet, eyes profitability in 2027
AgFunderNews · Elaine WatsonThis briefing is an independently written summary based on publicly available reporting and is provided for industry information and news discovery. The original report and source publication are credited and linked where applicable. RobotToday does not claim ownership of third-party source material.
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