Businesworld | 25 November 2022
According to the reports, Indian agritech startups raised $296 million across 27 private equity and venture capital deals in the first half of this financial year, almost double the $157 million through 23 deals during the same period in FY22.
As other segments grapple with a funding winter, agritech continues to attract investors optimistic about the nascent sector’s potential to grow on rising demand for quality food, supported by macro tailwinds like climate change and food security concerns. Agritech startups fared better in FY23 than in FY22, when funding reached a record $878 million in 54 deals, according to data from analytics firm Venture Intelligence. On a calendar-year basis, investments in the first nine months of 2022 climbed 67 percent to $393 million from $235 million a year earlier. This also comes as investors reduce funding to high-growth startups and turn bullish toward ventures with a focus on profitability.