CropX acquires NIR spectroscopy firm SCIO in biggest deal yet, eyes profitability in 2027
Summary
CropX acquired SCIO, a near-infrared spectroscopy company, in its largest deal to date. The acquisition extends CropX’s agronomy platform into pre- and post-harvest crop quality measurement. CropX says the combined business is approaching $20 million in ARR and expects to reach profitability in 2027. The company plans to integrate SCIO’s devices and data into its main app to strengthen its hardware-enabled SaaS model and create cross-selling opportunities.
AskAI Classifications
Sectors
AgriTech
General
Platforms and Tools
Functions
General
Platforms and Tools
Internet of Things (IoT) Platforms
Linked Companies
CropX Inc.
$1M to $5M
SCIO SOLUTIONS LTD.
$1M to $5M