New Delhi, 17 April (IANS). India topped the developing countries in earning investment for Agriculture Tech sector in 2024. Funding of this sector gained 215 percent last year. At the same time, the number of deal increased by 27 percent.
According to the report prepared by Ommanivore in collaboration with the Global Investment Platform, Egfonder, there is an increase in investment in five out of the top 10 countries in 2024.
The report said that in the last year, investment in India’s Agricultural Tech Startup has increased by more than 3 times to $ 2.5 billion. Investment in Singapore increased by 3 percent to $ 172 million, investment in Mexico increased by 250 percent to $ 97 million and investment in Vietnam increased by 350 percent to $ 87 million and investment in Chile to 33 percent to $ 58 million.
According to the report, this increase in investment has been caused by the funds raised by Quick Commerce company Jepto. Jepto was the highest-fanded aged-tech company in 2024 globally, which raised around $ 1.4 billion through three late-stage deals.
In 2024 developing markets have increased by 63 percent on an annual basis to $ 3.7 billion, which is 23 percent of the total investment globally.
According to the report, “The number of deal was seen by 8.4 percent on an annual basis last year. It is due to less, but a big deal.”
The report said, “India is one of the most established Eggtech Ecosystem in the world. Startups in the country have raised 49 percent more money on an annual basis except Jepto. Egg Marketplace and Midstream Tech Startups alone raised around $ 500 million.”
According to the report, funding in the Agrifood Tech sector of developing markets has increased to a large extent (63 percent) between 2023 and 2024, while the Global Agrifood Tech sector has declined by 4 percent.
-IANS
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