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Indian agri-foodtech startups clock $4.6 billion in funding in FY22, overtake China in funding inflow: Report

In a statement shared on November 30, AgFunder and Omnivore said the deal activity for agri-foodtech startups also increased to 234 deals in FY22 compared to 189 deals in FY21.

November 30, 2022 / 05:16 PM IST

Indian agrifood startups have attracted $4.6 billion in FY22, up 119 percent year-on-year from $2.1 billion in FY21, according to a report, even as the rest of the startup ecosystem struggles through a funding winter.

In a statement shared on November 30, food and agritech-focused venture capital firms - AgFunder and Omnivore, said that Indian agri-foodtech startups have overtaken China as Asia-Pacific's biggest funder of agrifood-tech innovation.

“The investment trends are proof that the agri-foodtech space can no longer be called niche. It has caught the attention of generalist VCs around the world who understand that agri-foodtech is key to the transformation of India’s massive agricultural sector and rural economy,” said Mark Kahn, managing partner of Omnivore.

Also Read: Green shoots? Agritech startups brave funding winter as investments nearly double compared to last fiscal