Rize raises $31 mn to grow sustainable rice platform across Southeast Asia

BNP Paribas Asset Management Alts led the Series B round as Rize expands exports, develops AI tools and scales carbon initiatives across Vietnam, Indonesia and other markets

Rize, a platform focused on sustainable rice production, has raised $31 million in a Series B funding round, including $20 million in equity and $11 million in debt. The equity round was led by BNP Paribas Asset Management Alts, with participation from The Rockefeller Foundation, Temasek and Breakthrough Energy Ventures, while the debt financing was backed by BIDV, Temasek Foundation and UOB.

 

The company said the funding will be used to expand exports, develop AI-powered tools for farmers and field teams, and invest in carbon and other innovation initiatives. It will also support its growth across Vietnam, Indonesia and other markets. Rize said it has raised $47 million to date and has increased the scale of its operations more than tenfold since its Series A round two years ago.

 

 

“This investment allows us to unlock the next phase of growth by further expanding scale, investing in market linkages and exports, and cutting-edge technologies to deliver better decision-making, better productivity, and better outcomes across the whole value chain,” said Dhruv Sawhney, co-founder and chief executive of Rize. The company’s technology team is based in India.

 

Founded in 2022, Rize works with 17,000 smallholder farmers across more than 50,000 hectares in Vietnam and Indonesia. The company said its emissions reductions have been independently verified, with its sustainable rice project progressing towards Gold Standard certification and more than one million carbon credits projected over the next five years. Rize has also begun exporting traceable low-emission rice to buyers in Europe, Canada, Australia and Singapore.

 

“Rize has positioned itself at the intersection of sustainable agriculture, carbon finance, and verified commodity trade,” said Alexandre Martin-Min, head of natural capital and impact investments at BNP Paribas Asset Management Alts.

 

“Smallholder farmers across Asia face challenges with resource management, access to financing and unreliable market access, leading to lower agricultural yields and reduced farmer welfare,” said Slav Gatchev, vice president of innovative finance at The Rockefeller Foundation.