The Singapore-based agritech startup Rize has secured $31 million in a Series B funding round that includes both equity and debt components.

Participants in the round included BNP Paribas Asset Management Alts, Temasek, The Rockefeller Foundation, and Breakthrough Energy Ventures, while debt financing was provided by United Overseas Bank, the Bank for Investment and Development of Vietnam, and the Temasek Foundation.

The company intends to deploy the capital to grow its operations, enhance its technology platform, and promote sustainable rice farming practices in its target markets.

Founded by Dhruv Sawhney, based in Bengaluru, Rize is dedicated to sustainable rice farming and partners with farmers to boost yields and cut emissions using technology-based agricultural methods.

The company is currently active in Southeast Asia and intends to leverage the new capital to strengthen its foothold in Vietnam and Indonesia. It is also aiming to expand into another region, with India being one of the top contenders.

About Rize

Singapore-based agritech startup Rize is a climate-tech platform founded in 2023 to decarbonize Asian rice farming. Co-founded by CEO Dhruv Sawhney and incubated by climate fund 100x100 (formerly Wavemaker Impact), Temasek, and Breakthrough Energy Ventures. Rize focuses on the largest crop market in the world, which also accounts for 12% of global methane emissions.