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30/11/2022 04:06pm

Agrifood startups in India draw investment worth $4.6 bn in FY22

image Agrifood startups in India draw investment worth $4.6 bn in FY22

New Delhi, Nov 30 (KNN) During the ending of financial year 2021-22, investments in India's agrifood startup segment increased 119 per cent year-over-year to USD 4.6 billion, said a report.

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According to AgFunder and Omnivore’s fourth India AgriFood startup investment report, with restaurant marketplaces and e-grocery startups securing close to USD 3 billion – around 66 per cent – of total investment in FY22, the food delivery services inflated total investment level.

Farmtech startups closed USD 1.5 billion in funding, a 185 per cent increase on the USD 527 million raised in FY2021.

Together with steady demand for traceable quality produce, encouraging innovations aimed at ironing out chronic inefficiencies the rapidly improving technology adoption buoyed this segment of agrifood tech.

E-grocery startups landed the highest number of late-stage deals and restaurant marketplace and e-grocery were the most funded downstream categories, accounting for 84 per cent of total downstream funding.  (KNN Bureau)

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