AgriFood Tech Startups Raised $4.4 billion in the first half of 2017, according to AgFunder AgriFood Tech Investing Report - MidYear 2017
Agrifood tech is the small but growing segment of the startup and venture capital universe that’s aiming to improve or disrupt the global food and agriculture industry, from the farm all the way to the consumer. The agrifood sector is largely inefficient with increasing demands and constraints being placed on it, including changing consumer preferences, a growing population, climate change, environmental degradation, and waste. This creates an opportunity for entrepreneurs to create new efficiencies using the latest in software, artificial intelligence, biotech, IoT, and robotics.
Much like the overall global venture capital markets, growth in agrifood tech funding in H1 can be attributed to several large deals, but also points to the gradual maturing of this nascent tech category.
Illustration Photo: AstroPlant is a plant lab fitted with sensors that track the entire growth cycle. Air and water temperature, humidity levels and leaf temperature, among other statistics, are uploaded via an app along with other user-collected data. The MELiSSA team then analyses the crop data for space farming potential. (credits: ESA-M. Cowan / Flickr Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0))