Agritech

Storage and related infrastructure are overshadowed by other aspects of agritech. However, it’s the barely visible post-harvest technology which provides meaningful environmental and financial benefits for farmers

Ishwak Singh starrer Mitti: Ek Nayi Pehchaan pays homage to India’s agri-tech ventures

In its end-roll, Mitti: Ek Nayi Pehchaan mentions seven agritech ventures led by well-educated and well-funded entrepreneurs who have made it their business to generate employment and make a living off farming in Indian villages. It's early days in the shift from Indian cities to villages yet.

Not Cool! Agritech startup WayCool fires over 200 employees in third round of layoffs in 12 months

In a related development, BP Ravindran, who was appointed CEO of Waycool's FMCG entity-BrandNext in April last year, has exited the company, per sources.

Nirmala Sitharaman announces implementation of DPI for agriculture over next 3 years in Budget 2024

As part of the project--namely Agri Stack--the government plans to conduct digital crop survey in 400 districts this year, bringing over 6 crore farmers into the formal Farmer Registry System.

Agritech set for a push in Modi's third term with DPI and Krishi satellite

The agriculture DPI or ‘Agristack’ will consolidate data from government departments, academic institutions, farmer organisations, and private sector stakeholders on a single platform.

Agritech players hail govt's emphasis on PPP model for post-harvest innovation in interim Budget

While there was no mention of the Agriculture Accelerator Fund in FM’s budget speech, the report on implementation of last year’s budget announcements said that the government is all set to identify problem statements and selection of startups by 15th February 2024.

Interim Budget: Agritech industry expects credit push, incentives for tech enablement

The interim budget follows a year when the Union Budget marked significant progress in addressing crucial reforms for the agricultural sector, with 'green growth' among its seven key focuses

Agritech startup Fasal raises Rs 100 crore led by TDK Ventures, British International Investment

Fasal’s co-founder Shailendra Tiwari in February this year told Moneycontrol that the company is in talks to raise a new round of funding to support its output business foray.

Matrix-backed agritech firm Vegrow raises $46 mn in Series C funding led by GIC

Earlier in July, the company raised $25 million as part of its Series B funding at a post-money valuation of $170-$180 million. The new round marks GIC’s first agri-tech and B2B investment in India, the company said

Agritech Waycool in talks to raise $40 million in internal funding round led by Lightrock

Sources say the new round will either be a bridge or a down round. Waycool was last valued at $700 million in June 2022 and is unlikely to see an uptick in valuation in the ongoing round.

With 5x growth in FY23 revenue, Matrix-backed Farmart eyes inorganic growth

Alekh Sanghera, co-founder and CEO of the company, said it clocked a total revenue of Rs 1,060 crore, a significant spike over the Rs 209 crore recorded in FY22.

Inside DeHaat: Auditor concerns, governance lapses and fast-depleting funds

Bleak funding prospects, operational inefficiency and the pressure to grow rapidly have slowed DeHaat’s relentless march. Moneycontrol spoke to stakeholders, industry watchers, and experts to get a closer look at the troubles that are dogging the agritech ‘soonicorn’.

Agritech startup Sorted raises over $5 million as seed funding

According to a statement, the serial entrepreneur has started Sorted, powered by proprietary technology and a franchisee network of digitised mom & pop stores.

Reimagining agriculture: How Cropin’s tech stack is sowing gains for farmers

Many Indian farmers are now seeing themselves as entrepreneurs, as technology plays an increasingly significant role in improving crop yield and profits

Agritech firm DeHaat's FY23 revenue set to rise by over 80% to Rs 2,300 crore

DeHaat will also hit positive EBIDTA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) by the end of this calendar year, he highlighted.

Agritech startup Ninjacart appoints Vivek Venkatasen as Chief Finance Officer

Venkatasen will work alongside the company's current CFO Balasubramanian S, who will be with the startup till the end of March.

Union Budget 2023: FM sows digital public infrastructure plan for agriculture

Union Budget 2023: To further boost startups sprouting out of rural areas, Sitharaman also said the government will launch an agriculture accelerator fund for young entrepreneurs.

Economic Survey 2023: Private equity investments in agritech surge 50% in four years

The survey also highlighted that there are over 1,000 agritech startups in India that assist farmers in improving farming techniques.

Agritech startup Cropin raises $14 million from Google, JSR Corp, others 

This comes at a time when the agritech sector has seen funding pouring in on the back of investors' optimism in the nascent sector’s potential to grow on rising demand for quality food post-pandemic, supported by macro tailwinds like climate change and food security concerns.

Goodbye 2022 | India’s Agritech sector in full bloom as valuations shoot up amid continued investor interest

Agritech was an outlier on the growth front in the Indian startup world that saw setbacks and a funding crunch this year.

Budget 2023 | What food and agri businesses need

Ease of doing business, supply chain infrastructure, market linkages and support for technology development are the key asks for the sector.

Agritech sector to mint over eight unicorns by 2027: Report

This comes at a time when agritech has been receiving continued investor interest even as the rest of the ecosystem struggles through a funding winter, as per a report by Avendus Capital

Agritech startup DeHaat raises $60 million in Series E funding led by Sofina, Temasek

Moneycontrol reported on October 21 that DeHaat had raised $45.8 million led by Sofina Ventures, according to the company’s regulatory filing with the Ministry of Corporate Affairs (MCA). This, however, was a part of a larger round, and the company today shared the entire fundraise amount in a statement. The company did not disclose if there was a revision in the valuation with additional funding coming in.

Agritech firm Cropin on track to raise $50-70 million by mid 2023 from tech companies, investors

The amount to be raised will be used for expansion of operations across different markets, and to scale up the platform and its AI Labs initiative.

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.