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Indian agri-food startups receive record $4.6 billion investment in FY22

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Indian agri-food startups received a record $4.6 billion in investment in FY 2021-22, up 119 percent year-on-year, as the country overtook China as Asia-Pacific’s largest funder of agri-food tech innovation, a survey found report on Wednesday.



Farmtech startups raised $1.5 billion from 140 deals, up 185 percent year-over-year, according to VC firms report AgFunder and Omnivore.

Marketplaces for restaurants and e-grocery startups have raked in nearly $3 billion, about 66 percent, of the total investment.

Deal activity also increased to 234 in FY2022 compared to 189 deals in FY2021.

Downstream startups raised $3.8 billion, up 115 percent from $1.77 billion in FY2021.

This strong growth is due to Swiggyraising $1.2 billion, representing 38 percent of total investment in Indian agri-food startups.

eGrocery startups raised $934 million with 42 deals, a four-fold jump from $244 million with 25 deals in FY2021.

“To see investment levels surpass all other countries in the Asia-Pacific region and compete on the global stage is indicative of the impressive reach and depth of innovations coming out of the country and the potential to transform the agri-food industry as a whole. influence,” he said Michael Deanco-founder, AgFunder.

Investments in online restaurants and meal kits experienced a remarkable recovery of $301 million in FY2022, nearly 4x more than $64 million in FY2021, the report said.

Upstream investments increased 300 percent from $312 million to $1.2 billion. The participation of generalist VCs, larger deals and a higher number of deals contributed to this increase.

“It has caught the attention of generalist VCs around the world who understand that agri-food technology is key to transforming India‘s huge agricultural sector and rural economy,’ said Mark KanManaging Partner, Omnivore.

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