India’s Agritech Market Landscape Report, 2021
Covid-19 has been a terrible human tragedy, but acted as a catalyst for rapid social change. Trends that grew steadily over two decades, including e-commerce, WFH, and food delivery, suddenly surged into ubiquity as lockdowns commenced across the globe. The situation in India has been similar, albeit further complicated by poverty and weak public health systems.
India’s lockdown had the unintended consequence of accelerating the country’s up-and-coming agritech ecosystem. In the last four years, agritech startups in India witnessed unprecedented growth alongside rising interest from the VC investor community. Leveraging 4G connectivity and rising smartphone penetration, agritech entrepreneurs built farmer platforms, B2B agri marketplaces, rural fintech businesses, and farm-to-consumer (F2C) brands. But this dynamic ecosystem represented only a small part of Indian agriculture and reached less than 20% of Indian farmers.
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Key Highlights
1000+
Number of agritech startups in India, 2020
$467 Mn
Funding raised by Indian agritech startups during 2014 to H1 2020
56%
Contribution of farming towards agriculture GVA in FY20
$24.1 Bn
Agritech Market Potential In India, 2020
~1%
Agritech Penetration In India, 2020