Data snapshot: India, China & Indonesia lead Asia-Pacific’s farmtech investment right now
November 22, 2022 | Jennifer Marston
Asia-Pacific farmtech funding doubled in 2021, raising a total of $2.2 billion, according to?AgFunder’s first-ever Asia-Pacific AgriFoodtech Investment Report.
Several large deals as well as a?17.5% uptick in deal numbers year-on-year drove much of this growth.
Startups have maintained this momentum in 2022. So far, farmtech companies have raised $1.1 billion in H1-2022. This is despite the larger tech downturn currently happening, and the fact that Asia-Pacific agrifoodtech investment is still largely a downstream game.
Farmtech categories and technologies
Farmtech includes all technologies used by farmers in their operations. The vast majority of these categories are upstream, close to the farm or lab. Two exceptions include farm-to-consumer eGrocery and Agrifood Finance.?
Farmtech categories include:?
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Top countries for Asia-Pacific farmtech investment
India is by far the region’s most advanced farmtech ecosystem, with startups operating in every farmtech category. The country’s Agribusiness Marketplaces category raised $364 million in 2021, for example. Its Farm Management Software & Sensing category raised $106 million over the same time period.
China was the second most active country for farmtech investment in 2021, closing?$605 million in deals, a 60% year-on-year jump.
Ag Biotech was an especially big category for China, with notable companies like Mojia Biotech and Moonbiotech raising capital. Robotics were also a big category, as underscored by agricultural drone service provider XAG ’s $182 million Series C.
Indonesia also has a range of farm tech innovations with a particular focus on Agribusiness Marketplaces.
Data Snapshot is a regular AFN feature in which we analyze agrifoodtech market investment data provided by our parent company,?AgFunder.
Click?here?for more research from AgFunder and?sign up to our newsletters?to receive alerts about new research reports.
India is where all the action is for now…
Co-founder of DataFarming, UQ Gatton Gold Medallist 2023, ICT Entrepreneur of the Year 2019 (QLD), and Australian Rural Consultant of the Year 2018
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