In 2021, Rocketship.vc, a Silicon Valley-based venture capital (VC) firm backed the Indian agritech startup Animall, a managed marketplace for cattle trading.
Madhu Shalini Iyer, a partner at the firm, said it was their first bet into the sector. The firm decided to invest in Animall after recognising its need and potential in an enormous agrarian market like India, she added.
However, over the last six to eight months, Iyer said the VC firm, which leverages data science and analytics to make investment decisions, has started to witness agritech pop up in their algorithms compelling the firm to look even closer into the sector.
“We are currently evaluating three to four agritech deals as we speak, that should tell you how much has changed for agritech,” Iyer told Moneycontrol in an interaction when she flew down to Mumbai recently.