Indian Agrifood startups earned a record $4.6 billion in Investment during FY 2021–22, an increase of 119 percent year over year. India surpassed China as the region’s largest financier of Agrifood-Tech Innovation.
According to the research by VC companies AgFunder and Omnivore, Farmtech Entrepreneurs received $1.5 billion across 140 deals, an increase of 185% compared to the previous year.
Startups in e-grocery and restaurant marketplaces received close to $3 billion in funding, or about 66% of the overall investment.
Additionally, deal activity climbed to 234 deals in FY2022 from 189 deals in FY2021.
From $1.77 billion in FY2021, downstream startups raised $3.8 billion, a 115% increase.
Swiggy, which raised $1.2 billion, or 38% of all investments in Indian Agrifood businesses, is to blame for this tremendous rise.
