In 2022, Agrifood Tech Sees 33% Decline In VC Funding, FarmTech Remained Relatively Strong: Report
Despite the dip, the sector is a critical emerging space in India for transforming agriculture and ensuring food security
The agrifoodtech startup ecosystem in India mirrored the global slump in venture capital funding in 2022. Funding dropped 33% to $2.4 billion in 2022, from $3.6 billion in 2021. Euphoric startup valuations, alongside easy money, drove investments to a record-breaking high in 2021, followed by a swift correction. Despite the dip, the sector is a critical emerging space in India for transforming agriculture and ensuring food security. With the responsibility of sustaining 17.7% of the world's population, the country is facing the urgent task of addressing various value chain inefficiencies and mitigating the escalating effects of climate change. More than 80% of Indians live in climate-vulnerable districts. By 2030, over 17 million people in India can potentially go hungry due to climate change-induced hunger.
