Rice decarboniser Rize raises $31M Series B, eyes India entry
What's the deal? Singapore-based agritech Rize has closed a $31 million Series B, split between $20 million in equity and $11 million in debt, to expand its rice-decarbonisation business across South-East Asia. The equity portion was led by BNP Paribas Asset ManagementDealroom has a profile for this one. Try Dealroom → Alts, Temasek, the Rockefeller Foundation, and Breakthrough Energy VenturesDealroom has a profile for this one. Try Dealroom →. The debt came from United Overseas BankDealroom has a profile for this one. Try Dealroom →, Bank for Investment and Development of Vietnam, and the Temasek FoundationDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Rize works with 17,000 farmers across 50,000 hectares in Vietnam and Indonesia, supplying seed, fertiliser, and equipment on 150 days of zero-interest credit. It earns revenue by buying supplies in bulk and reselling to farmers with margins built in.
Where's the money going? The debt will deepen Rize's presence in Vietnam and Indonesia. The equity funds the platform, artificial intelligence tools for field agronomists, and carbon-certification self-reporting.
Why now? The company is weighing a new market, with India on the shortlist. "We're talking to people right now and over the next six months we'll form an opinion on which is the right market to enter," said founder and chief executive Dhruv Sawhney. Any India entry would start with rice farmers in the south, though margins there are thinner given the low-export Sona Masuri variety.
What could go wrong? The round lands as South-East Asian venture funding has largely dried up since the 2024 collapse of Indonesian agritech eFishery over financial misreporting. In April 2025, its founder was sentenced to nine years in prison.
The signal: At $31 million, Rize's raise sits well above the median for its class — around the 62nd percentile by amount — signalling that investor appetite for credible, financing-led agritech persists even in a wary region. The mix of a sovereign fund, a development foundation, and a climate-focused fund underscores where capital is flowing: models that pair farmer credit with measurable decarbonisation.
Read more: Mint
Image credit: Rize
