Increase in deal activity to 234 in FY22 compared to 189 deals in FY21
Indian agrifood startups received a record $4.6 billion in investment in FY 2021-22, up 119 percent year-over-year, as the country overtook China as Asia-Pacific’s biggest funder of agrifood-tech innovation, a report showed on Wednesday.
Farmtech startups raised $1.5 billion across 140 deals, a 185 percent year-over-year increase, according to the report by VC firms AgFunder and Omnivore.
Restaurant marketplaces and e-grocery startups secured close to $3 billion, around 66 percent, of the total investment. The deal activity also increased to 234 in FY2022 compared to 189 deals in FY2021.
Downstream startups raised $3.8 billion, a 115 percent increase from $1.77 billion in FY2021. eGrocery startups raised $934 million across 42 deals, a 4x jump from $244 million across 25 deals in FY2021.
This significant growth is due to Swiggy, which raised $1.2 billion accounting for 38 percent of total investment in Indian agrifood startups.
“To see investment levels surpass all other countries in the Asia-Pacific region and compete on the global stage is indicative of the impressive range and depth of innovations coming from the country and potential to impact the agrifood industry as a whole,” said Michael Dean, founding partner, AgFunder.
Investment in online restaurants and meal kits saw a remarkable recovery at $301 million in FY2022, almost 4x more than $64 million in FY2021, said the report.
Upstream investment leaped 300 percent to $1.2 billion up from $312 million. The participation of generalist VCs, bigger deal sizes, and higher deal count contributed to this increase.
“It has caught the attention of generalist VCs the world over who understand that agrifood tech is key to the transformation of India’s massive agricultural sector and rural economy,” said Mark Kahn, Managing Partner, Omnivore.
[With Inputs from IANS]
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Records!!! Statistics!!!! Development!!!!! Modernize!!!!! –
UP Government has allowed Pepsi to set up a POTATO CHIPS manufacturing venture
Can’t Indians invest in POTATO CHIPS manufacturing??
Indians do not have the Technology to manufacture POTATO CHIPS?
Pepsi will purchase POTATOES from Indian Farmers @ 2 (or even lower) per Kg make chips & sell them @ 800 per Kg.
In the process how many people get employed??? May be a few thousand
Instead if we encourage indigenous enterprises to sell POTATO CHIPS – for the same amount of POTATO CHIPS – employment generation will be at least 5 times more
Also the POTATO CHIPS will be HEALTHIER, CHEAPER
HEALTHIER because -these MNCs use toxic preservatives which affect our Health in the long run
POTATO CHIPS can be sold @100 per kg with reasonable profits too.
Investment in agriculture or snatching land from farmer ? !! Farmer is dying, he is not given loan and free money to drink as per his choice, obstruction to freedom of choice !!
West has invested in seedless fruits, increasing seedless men (LGBT), LGBT population has grown from 1 to 1 billion in last 50 years !! Development of humans !!
Hope the bio investments in India do not lead to raise in LGBT population for Instagram is full of same gender obscene acts (kissing, sleeping clips). Next target by West on India. More agitations & campaigns, court cases, appeals to approve same sex marriage in coming years….
Already LGBT HC judge from Punjab is nominated by Collegium to Supreme Court. He will legalize man-animal marriages also
Modi Government has allowed GM Mustard to create another wave of Farmers’ suicides
Already Bt Cotton has devastated the entire Farming Community – resulting in at least 5 lakh Farmers’ suicides since 2002.
BJP Governments are more corrupt than the Maino Government.
This GM Mustard – the Minister Bhupendra Yadav claims – is indigenously developed!!! Total Nonsense.
All GMOs are patented to Monsanto & we have to pay huge royalties to Monsanto
it is high time this corrupt Modi Government is exposed