India's agritech sector has grown significantly as a result of increased investor interest in the industry, decreasing post-harvest and supply chain losses, increasing rural internet penetration, and other factors. It is thought to have a bright future, especially as it integrates with tech entrepreneurs.
1. Presence of Large Number of Intermediaries & Inadequate Supply Chain Infrastructure Impacting the Agribusiness Value Chain
2. To solve these pain points of the farmers, The >INR 1k crores Agritech market is majorly fuelled by three types of Business Models spread across segments
Market Size by Revenue of Agritech Sectors in India in FY2021
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Supply Chain and Market Linkages maximally contribute to the overall agritech market (in terms of revenue) by eliminating the middlemen and highly benefiting the farmers as well as other end users
3. Past five years have witnessed a strong surge in the development of this ecosystem, with a 9X increase in institutional funding in the sector during this period
Funding in Agritech Sector (Mn USD); FY’17-FY’21
Founders and investors begin to look for significant opportunities for technology-first companies to disrupt traditional models. Investors’ interest in agritech startups has increased tremendously today as agritech is one of the few sectors that not only survived but thrived during the pandemic.
4. All the segments are poised to continue to grow at double digit CAGR with an average of > 20%
In the next 5 years, the face of agriculture will be changed by the Indian Agritech start-ups. Farmers productivity and efficiency will improve and a robust supply chain network shall be created to reduce the wastage. There will continue to be a tremendous uptick in demand for Farm-to-Consumer (F2C) brands that are able to assure quality and provide traceability back to the source.
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