Agritech Startups In India Received $248 Million Funds In H1 2019

Saanvi Araav - Sep 12, 2019

Agritech start-ups in India received more than $248 million in funding in H1 2019, a growth of 300% as compared to the same period in the previous year.

Indian agritech startups just received over 248 million dollars funds in H1 2019. That is a 300% growth in comparison with the same time last year, according to a Nasscom's study.

Indian agritech start-ups are dominating the world

Growing at an incredible rate of 25% each year, currently, India has over 450 agritech start-ups.

These Indian companies are looking to expand their businesses outside of the country. They are targeting regions such as South America, Europe, and South-East Asia.

Digital Agriculture Inline Image 1630x0 — Some of those areas are FaaS, financing, inputs' access, digital agriculture, and market linkage.

In the past five years, over five international architect enterprises have entered the Indian market. On the other hand, there are already over 25 Indian companies in this sector currently having an international presence.

Many developing areas in this sector are gaining traction in the market. Some of those areas are FaaS, financing, inputs' access, digital agriculture, and market linkage.

The study from Nasscom suggested that every ninth start-up in the agritech sector comes from India.

Debjani Ghosh

Debjani Ghosh (president of Nasscom) has delivered a statement about this study. She said that technology adoption in agriculture needs an established institutional focus. Plus, many technology companies are working their way into the sector with new and innovative business models.

20181119082705 Shutterstock 1090514927 — They also prove the opportunities in the country in the farming and agriculture landscape.

She also added that the findings in this study are proof for the enormous potential lies within the agritech sector and the opportunities in the farming and agriculture landscape in India.

B2C to B2B

Today, local farmers are constantly accepting new agritech solutions. And according to the report, there was a significant shift from B2C (business to customer) to B2B (business to business) start-ups in the agritech sector.

Investors and corporations are playing a big part in supporting these B2B start-ups with 200 million dollars investment in the last 18 months. That massive investment is what helps B2B start-ups become the critical money-maker segment in the sector.