Agritech Startup Funding and Investment Report 2024

Here are the top agritech startups of 2024, driving innovation in agriculture with cutting-edge solutions. From climate-smart technologies to AI-powered robotics and enhanced supply chains, companies like Ecozen, Arya.ag, Superplum, and Niqo Robotics are revolutionizing the industry.

India AgriTech Investment Report 2024 

These startups are at the forefront of improving efficiency, sustainability and food distribution, shaping a more tech-driven and sustainable agricultural future.

Ecozen - $30 Million Funding

Ecozen, a pioneer in climate-smart technology, has secured $30 million through a combination of debt and equity. This funding includes backing from Nuveen, existing investors, and new debt support from InCred Credit Fund and the U.S. International Development Finance Corporation (DFC) via Setuka Partners LLP. The funds will bolster Ecozen’s innovation in climate-tech solutions and meet rising demand for its products. Founded in 2010 by Devendra Gupta, Prateek Singhal and Vivek Pandey, Ecozen specializes in core technologies like motor controls, IoT and energy storage for sustainable development.

Arya.ag - $19.8 Million Funding

Arya.ag, India’s leading grain commerce platform, has received $19.8 million in debt funding from the U.S. International Development Finance Corporation (DFC). This investment will enhance Arya.ag’s capacity to connect farmers and FPOs with buyers ensuring secure payments, transaction transparency and better market access.  

Superplum - $15 Million Funding

Agritech startup Superplum has raised $15 million in a Series A funding round led by Erik Ragatz the company’s incoming chairman. The funding will be used to modernize India’s agricultural supply chain and build essential infrastructure. Superplum is revolutionizing India’s fresh fruit supply chain by connecting local farms to global markets.--

Niqo Robotics - $13 Million Funding

Niqo Robotics, formerly TartanSense, secured $13 million in Series B funding led by Brida Innovation Ventures, with participation from Omnivore and Fulcrum Global Capital. The company which has raised a total of $21 million, develops AI-powered agricultural robots to drive sustainable farming in India.

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Agrizy - $9.8 Million Funding

Agrizy, a B2B agri-processing platform, raised $9.8 million in Series A funding led by Accion and Omnivore. The company will use the funds to expand its offerings, geographical presence, and develop a contract development and manufacturing organization (CDMO).

Grow Indigo - $8 Million Funding

Grow Indigo raised $8 million in a strategic round with participation from Mahyco and Indigo Ag. Founded in 2018, the company leverages technology from its parent organizations to deliver optimized farming benefits.

Ayekart - $6.5 Million Funding

Ayekart, an agritech fintech startup, raised $6.5 million in Series A funding from Omnivore, Siana Capital, and Unleash Capital Partners. The company aims to scale nationally and support FPOs, MSMEs and SMEs in strengthening supply chains.

Omnivore - $5 Million Funding

Omnivore received $5 million from Proparco for its third fund, the Agritech and Climate Sustainability Fund. This investment supports private sector development in sustainable agriculture.

Fyllo - $4 Million Funding

Precision agriculture startup Fyllo raised $4 million in a funding round led by SIDBI Ventures and India Quotient. The funds will be utilized to expand into new markets and crops while developing advanced agricultural tools.

BharatRohan - $2.3 Million Funding

BharatRohan raised $2.3 million in a pre-IPO round led by Venture Garage, RevX, and others. The funds will be used to develop drones with edge computing technology for precision farming and adaptive pesticide delivery.

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Farmtheory - $1.45 Million Funding

Farmtheory secured $1.45 million from Merak Ventures to enhance its supply chain, expand farmer networks, and improve technology infrastructure for sustainable fresh produce delivery.

Conclusion

The India AgriTech Investment Report 2024 highlights a remarkable year of growth and innovation in the AgriTech sector. Companies like Ecozen ($30 million) and Arya.ag ($19.8 million) are leading the charge in revolutionizing supply chains and storage solutions, while players like Superplum and Niqo Robotics are focusing on improving farm productivity and sustainability. Emerging startups, including Agrizy, Grow Indigo, and Ayekart, are leveraging technology to empower farmers, enhance market access, and drive efficiency.

This wave of funding underscores the growing investor confidence in India's AgriTech ecosystem. As these startups scale their operations and innovate further. They are set to make a transformative impact on India's agricultural landscape, creating a more resilient and efficient sector for the future.