• Arable, a California-based startup that provides real-time updates on irrigation and weather and reports for crop management, has raised USD 40 million in a Series C funding round led by Galvanize Climate Solutions. New investor Qualcomm Ventures and existing investors including Prelude Ventures, S2G Ventures, and Ajax Strategies also joined the round.

• The funds will be used to support product development, the delivery of new services, and expanding its international presence. Following the round, Saloni Multani, partner at Galvanize Climate Solutions also joined Arable’s board of directors. 

• Arable also reported that its annual recurring revenue grew by 4x over the last two years, and active users increased by 200% over the last year. The company also doubled the size of its team and opened new offices in Brazil and India to support its growth.

• As of date, the company serves over 400 customers, which includes agribusinesses and global food brands such as Bayer, Netafim, and Absolute Foods. 

Analyst QuickTake : Arable has raised USD 75.8 million in funding as of date. The company previously raised USD 20 million in Series B funding in October 2020 to support expansion into Brazil, having expanded its product reach across 39 countries globally at the time.