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Knowledge Snapshot is a daily AFN characteristic during which we analyze agrifoodtech market funding information supplied by our father or mother firm, AgFunder.
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Asia-Pacific farmtech funding doubled in 2021, elevating a complete of $2.2 billion, in accordance with AgFunder’s first-ever Asia-Pacific AgriFoodtech Funding Report.
A number of giant offers in addition to a 17.5% uptick in deal numbers year-on-year drove a lot of this development.
Startups have maintained this momentum in 2022. Up to now, farmtech firms have raised $1.1 billion in H1-2022. That is regardless of the bigger tech downturn presently taking place, and the truth that Asia-Pacific agrifoodtech funding remains to be largely a downstream sport.
Farmtech classes and applied sciences
Farmtech contains all applied sciences utilized by farmers of their operations. The overwhelming majority of those classes are upstream, near the farm or lab. Two exceptions embody farm-to-consumer eGrocery and Agrifood Finance.
Farmtech classes embody:
- Agribusiness marketplaces
- Ag biotechnology
- Farm mechanization + gear
- Farm administration software program, sensing and IoT
- Novel farming methods
- Bioenergy and biomaterials
- Midstream applied sciences
- Agrifood finance
- Farm-to-consumer eGrocery
High nations for Asia-Pacific farmtech funding
India is by far the area’s most superior farmtech ecosystem, with startups working in each farmtech class. The nation’s Agribusiness Marketplaces class raised $364 million in 2021, for instance. Its Farm Administration Software program & Sensing class raised $106 million over the identical time interval.
China was the second most energetic nation for farmtech funding in 2021, closing $605 million in offers, a 60% year-on-year leap.
Ag Biotech was an particularly massive class for China, with n0table firms like Mojia Bioscience and MoonBiotech elevating capital. Robotics have been additionally a giant class, as underscored by agricultural drone service supplier XAG’s $182 million Sequence C.
Indonesia additionally has a variety of farm tech improvements with a specific deal with Agribusiness Marketplaces.
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