Aramco leads $9.5M Series A for rice-tech startup Mitti Labs
What's the deal? Mitti Labs, a New York- and Bengaluru-based climate-tech startup, has raised $9.5 million in a Series A round led by Aramco VenturesDealroom has a profile for this one. Try Dealroom →, the venture arm of Saudi AramcoDealroom has a profile for this one. Try Dealroom →. Godrej Industries GroupDealroom has a profile for this one. Try Dealroom →, Cisco, Francis Family FundDealroom has a profile for this one. Try Dealroom →, Volta CircleDealroom has a profile for this one. Try Dealroom →, and existing backer Lightspeed IndiaDealroom has a profile for this one. Try Dealroom → also joined.
What's the endgame? The startup wants to make Asia's water-intensive rice farming more resilient. Its GeoAI platform fuses satellite radar imagery with field data to build "digital twins" of individual rice fields, tracking water use and methane emissions across smallholder farms.
Why it matters: Rice feeds more than half the world's population and ranks among the most water-intensive crops. Continuously flooded fields also drive a large share of agricultural methane emissions.
The results: Farmers in Mitti Labs' programs adopt alternate irrigation that the company says cuts water use by about 40% and methane by more than 50% without hurting yields, while generating carbon credits as extra income.
The round marks a sharp step-up from the startup's early trajectory, bringing total funding to $12.5 million after US$1.94M seed in July 2024. Mitti Labs has scaled from about 8,000 farmers in 2024 to more than 100,000 this season across several Indian states, and aims to reach millions by 2030.
The expansion: The new capital will fund a push across Asia. Mitti Labs now has more than 150 employees, most in India, where field teams help farmers adopt new irrigation practices.
Revenue comes from both carbon credits and the GeoAI platform. Customers include carbon marketplace Cool EffectDealroom has a profile for this one. Try Dealroom →, rice producer Ebro FoodsDealroom has a profile for this one. Try Dealroom →, and agricultural company SyngentaDealroom has a profile for this one. Try Dealroom →.
That traction drew Aramco Ventures, whose investment marks its first in an Indian startup. Xavier Laguarta said the firm was attracted to Mitti Labs' focus on reducing methane emissions, improving water resilience, and applying AI to agriculture in emerging markets. He added the partnership could open access to Aramco's carbon-market relationships.
The signal: An oil major's venture arm backing a rice-farming methane play underscores how emerging-market climate tech is drawing capital from unexpected corners — and how carbon markets are becoming a business model, not just a mission.
Read more: TechCrunch
Image credit: Artem Beliaikin
