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India's Agrifood Startup Investment Jumped 119% To $ 4.6 Bn: Report

Farmtech startups closed USD 1.5 billion in funding, a 185 per cent increase on the USD 527 million raised in FY2021

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India's agrifood startup investment jumped 119 per cent year-over-year to USD 4.6 billion in the fiscal year ending 31st March 2022, according to AgFunder and Omnivore’s fourth India AgriFood startup investment report.

Food delivery services inflated total investment level, with restaurant marketplaces and e-grocery startups securing close to USD 3 billion – around 66 per cent – of total investment in the fiscal year (FY) ending 31 March 2022.

Farmtech startups closed USD 1.5 billion in funding, a 185 per cent increase on the USD 527 million raised in FY2021. Rapidly improving technology adoption buoyed this segment of agrifood tech, together with steady demand for traceable quality produce, encouraging innovations aimed at ironing out chronic inefficiencies.

Restaurant marketplace and e-grocery were the most funded downstream categories, accounting for 84 per cent of total downstream funding with e-grocery startups landing the highest number of late-stage deals.

Agribusiness Marketplaces overtook Midstream Technologies to become the most funded upstream category in FY2022. The former raised USD 569 million in FY2022, a 7x jump from the USD 86 million raised in FY2021.


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