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1、I N V E S T M E N T R E P O R T21India AgriFood StartupSee our portfolio companies: is one of the worlds most active foodtech and agtech VCs.Were rethinking venture capital for the 21stcentury.We were born online,and with our publication AFN weve built a global ecosystem of 90,000+subscribers.This g
2、ives us one of the most powerful networks to help build impactful and important companies.Our research reports are our love letter to the industry.AgFunder is a digitally-native venture capital fundAre you a corporate,startup,or investor?Learn how to get engaged:We invest in bold,transformational fo
3、odtech&agtech foundersOur India Report PartnerOmnivore is a venture capital firm,based in India,which fundsentrepreneurs building the future of agriculture and foodsystems.OmnivorepioneeredagritechinvestinginIndia,backing over 25 startups since 2011.Every day,Omnivoreportfolio companies drive agricu
4、ltural prosperity and transformfood systems across India,making farming more profitable,resilient,sustainable,and climate-proof.INDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM4INTRODUCTIONAgriFood in India in 2021The Covid-19 pandemic had already reached India by the start of fiscal
5、year 2020-2021(FY21),and the country subsequently went into a nationwide lockdown.Consumption dipped,supply chains broke down,public finances deteriorated,and the overall economy slowed.Despite this,the agrifoodtech sector witnessed an investment boom,with a 100%year-on-year jump in total funding.Se
6、ed investments into the sector grew threefold as entrepreneurs rushed to solve food system problems underscored by the pandemic.This growth in investment can be attributed to the resuscitation of Restaurant Marketplaces and eGrocery,with both categories experiencing roughly 2x growth in funding as m
7、ore consumers shifted to purchasing meals,groceries,and other essentials online.Food delivery giant Zomato alone raised$1.2 billion ahead of its IPO.However,due to the overall economic slowdown and reduction in consumer spending,investments in Premium Branded Foods&Restaurants and Online Restaurants
8、&Mealkits dipped.Closer to the farm,the number of upstream agrifoodtech deals surpassed downstream deals for the first time.Agribusiness Marketplaces,which provide farmers with online access to a variety of offline products and services,rose to prominence;“full-stack”farmer platform DeHaat,for examp
9、le,raised two consecutive rounds a$12 million Series A and a$30 million Series B from investors including AgFunder,Omnivore,Prosus,Sequoia Capital,and FMO.However,it was Midstream Technologies that saw the most funding activity.Startups including Arya,Waycool,and Jumbotail raised mega-rounds in FY21
10、,driven by the need to improve efficiency in Indias fragmented and outdated supply chains,which were hit hard by Covid-19.During the pandemic,agrifoodtech entrepreneurs were responsible for keeping smallholder farmers and food supply chains afloat.While big-ticket funding in India has typically been
11、 concentrated on consumer-facing enterprises,investors are discovering a wealth of untapped opportunity further up the agrifood value chain.Also,improved awareness among generalist VC funds is evident from their increasing participation in upstream deals a trend we believe will continue in the comin
12、g years.Mark Kahn,Jack Ellis,and the Omnivore and AgFunder teamsAGRIFOOD TECH FUNDING REPORT:YEAR REVIEW 2020-21|AGFUNDER.COM5Year End Overview FY2020-2021Image courtesy of Intello LabsUpstreamDownstreamIndia AgriFood Startup Funding Breakdown April 2020-March 2021Ag Biotech;Farm Management Software
13、,Sensing&IoT;Farm Robotics&Equipment;Bioenergy&Biomaterials;Novel FarmingSystems;Innovative Food;Agribusiness Marketplaces;MidstreamTechnologiesIn-store Restaurant&Retail;Online Restaurants&Mealkits;eGrocery;Restaurant Marketplaces;Home&Cooking;Cloud Retail Infrastructure;Premium Branded Foods&Resta
14、urantsINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM7YEAR IN REVIEWKey Insights1.Downstream investment boost increases overall funding into the agrifoodtech spaceTotal investments in agrifoodtech startups for FY21 stood at$2.1 billion,up 97%from FY20.Deal volume also saw significant
15、 growth,with 189 deals in FY21 versus 136 deals in FY20.Downstream startups raised$1.77 billion in FY21,up 140%from FY20.The significant growth in downstream investments was primarily due to Zomato,which raised$1.2 billion(67%of the total funding into downstream categories)in the lead up to its heav
16、ily subscribed IPO in early FY22.Upstream startups continued to garner investor interest with a slight increase in total year-on-year funding.But because of the downstream sectors explosive growth,the share of upstream investments fell significantly to 15%of total FY21 investments,down from 42%in FY
17、20.2.Restaurant Marketplaces continue to be the most funded categoryRestaurant Marketplaces remained the dominant investment category,raising$1.33 billion,or 64%of total FY21 agrifoodtech funding.Covid-19 briefly impacted startups in the Restaurant Marketplaces category,owing to stringent lockdown m
18、easures and a shift in consumer behavior.However,they were quick to recover by expanding their services to delivering groceries and essential goods,leveraging their wide-spread urban distribution capabilities and under-utilized delivery fleets.3.Premium consumption took a hit due to the Covid-19 pan
19、demic,but continues to be an active categoryThe pandemic drove some consumers towards food products they considered to be safer,healthier,and of higher quality,as they thought more about where their food comes from;a trend noticed globally.But the economic slowdown meant that overall demand for,and
20、investment in,downstream consumer-facing categories dropped.Premium Branded Foods&Restaurants raised$88 million in FY21,down from$168 million in FY20.The category was nevertheless the second most active in FY21 in terms of deal volume,tying with eGrocery and Agribusiness Marketplaces.Online Restaura
21、nts raised$64 million in FY21,down from$156 million in FY20.FY21 saw several new Online Restaurant startups emerge and raise early-stage rounds as cloud kitchens became the norm during the pandemic.Covid-19 led to a behavior shift among a large segment of consumers,who chose to shop for groceries an
22、d essential goods via online platforms.This led to a resurgence of the eGrocery category,which saw a 2x jump in investment and deal volume.INDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM8YEAR IN REVIEW4.Upstream startups continue to see an acceleration of investor interestUpstream ag
23、rifoodtech startups,comprising of farm-linked and supply chain-linked ventures,raised a total of$318 million across 98 deals in FY21,slightly higher than the$312 million raised across 56 deals in FY20.For the first time,the number of upstream deals surpassed downstream deals.Fragmented supply chains
24、,small landholdings,low farm yields,and low farmer incomes,along with increasing rural smartphone penetration,offer significant opportunities for disruption in farm digitalization,supply chain efficiency,and precision agriculture.While Omnivore continued to be the most active investor in upstream ca
25、tegories,FY21 also saw prominent generalist funds participating in multiple upstream deals,including Sequoia Capital(DeHaat,Bijak,Animall,Procol);Matrix Partners(Country Delight,Captain Fresh,Vegrow);Beenext(Animall,Procol,Blue Sky Analytics);and Blume(Procol,Pixxel,Jai Kisan).Midstream Technologies
26、 and Agribusiness Marketplaces were the most active upstream categories,both in terms of deal volume and capital raised.Farm Management Software,Sensing&IoT is fast emerging as an active category with an 8x year-on-year jump in investments and 2x growth in deal volume.5.Midstream Technologies domina
27、te upstreamMidstream Technologyies raised$176 million across 29 deals,making it the most active agrifoodtech category by deal volume.Midstream Technologies startups accounted for 60%of total upstream investments and 30%of upstream deals.FY20 saw more than 50%of Midstream funding go to one company:Ni
28、njacart.FY21 saw greater Midstream investment distribution,with six startups raising rounds greater than$10 million.This was driven by the need to improve efficiency in Indias fragmented supply chains,which were severely impacted by the Covid-19 pandemic.6.Agribusiness Marketplace startups rise to p
29、rominenceThe pandemic impacted farmers and agribusinesses alike:produce markets were shuttered,transportation services halted,and agricultural labor wasnt accessible.These issues created opportunities for online marketplace startups providing access to products and services for farmers and agribusin
30、esses.As a result,Agribusiness Marketplaces raised$86 million in FY21,up from$30 million in FY20.It was the second most active category in the upstream segment in terms of both investment and deal volume.Key Insights(Continued)INDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM9YEAR IN R
31、EVIEWAnnual AgriFood Startup FundingFY 2018-2021$999m$2.4bn$1.05bn$2.1bn90204060800500225030--21Financing|$millions#of dealsINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM10YEAR IN REVIEWDownstreamAgriFoodStartup FundingFY 20
32、18-2021$901m$2.25bn$741m$1.8bn0406080,5002,2503,0--21DownstreamFinancing|$millions#of dealsINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM11YEAR IN REVIEWUpstream AgriFoodStartup Funding FY 2018-2021$98m$145m$312m$318m524356980204060801
33、00--21UpstreamFinancing|$millions#of dealsINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM12YEAR IN REVIEWFarm Tech Startup Funding 2018-2021$130m$219m$431m$527m7553740753505257--21Financing|$millions
34、#of dealsThis chart looks specifically at funding to startups operating on the farmAGRIFOOD TECH FUNDING REPORT:YEAR REVIEW 2020-21|AGFUNDER.COM13Deals by CategoryImage courtesy of DeHaatIn-Store Retail&Restaurant TechShelf-stacking robots,3D food printers,POS systems,food waste monitoring IoTHome&C
35、ooking TechSmart kitchen appliances,nutrition technologies,food testing devicesRestaurant MarketplacesOnline tech platforms delivering food from a wide range of vendorseGroceryOnline stores,retailers&marketplaces for sale&delivery of processed or un-processed ag products to consumerOnline Restaurant
36、s&MealkitsStartups offering culinary meals&sending pre-portioned ingredients to cook at homeInnovative FoodCell-cultured meat,novel ingredients,plant-based proteinsMiscellaneouse.g.fintech for farmersUpstreamDownstreamBothAgriFood Startup Category Definitions*WHAT IS AGRIFOOD TECH?Midstream Technolo
37、giesFood safety&traceability tech,logistics&transport,processing techBioenergy&BiomaterialsNon-food extraction&processing,feedstock technology,hemp productsAg BiotechnologyOn-farm inputs for crop&animal ag including genetics,microbiome,breeding,animal healthNovel Farming SystemsIndoor farms,aquacult
38、ure,insect&algae productionFarm Robotics,Mechanization&EquipmentOn-farm machinery,automation,drone manufacturers,grow equipmentFarm Management Software,Sensing&IoTAg data capturing devices,decision support software,big data analyticsAgribusiness MarketplacesCommodities trading platforms,online input
39、procurement,equipment leasingCloud Retail InfrastructureOn-demand enabling tech,ghost kitchens,last mile delivery robots&servicesPremium Branded Foods&RestaurantsPremium food experience including better product design,formulation,packaging&thematic restaurants*Given the importance of consumption upg
40、rade as a driver in India and Chinas startup ecosystems,we added an extra category for Premium Branded Foods&Restaurants into these reports.INDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM152021 India Agrifood Startup Deal Volume BreakdownDEAL VOLUME BY CATEGORY15%13%13%13%10%7%6%5%4%
41、3%3%2%2%2%1%1%Midstream TechnologiesAgribusiness MarketplaceseGroceryPremium Branded Foods&RestaurantsFarm Management Software,Sensing&IoTOnline Restaurants&MealkitsRestaurant MarketplacesIn-Store Retail&Restaurant TechNovel Farming SystemsBioenergy&BiomaterialsMiscellaneousCloud Retail Infrastructu
42、reFarm Robotics,Mechanization&EquipmentInnovative FoodAg BiotechnologyHome&Cooking TechINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM16Investments&Deal Volume by CategoryDEALS BY CATEGORYMidstream Technologies emerged as the most activecategory,with 29 deals.Investments were driven
43、by theneed to improve efficiency in Indias fragmented supplychains that were severely impacted by the Covid-19pandemic.Restaurant Marketplace startups drew in the mostcapital,accountingfor64%oftotalfundinginagrifoodtech.Zomato raised$1.2 billion,or 95%of totalcapital invested in this category.Premiu
44、m Branded Foods&Restaurants and eGroceryalso remained active categories,with 25 deals each.eGrocery got a boost from the pandemic because ofshifting consumer buying habits.Premium BrandedFoods&Restaurants and Online Restaurants saw a dipinoverallfundingduetothepandemic-relatedeconomic slowdown.Inves
45、tors spotted the opportunity to invest in the needsof farmers and other agribusinesses in the value chain,drivinga3xuptickinfundingforAgribusinessMarketplaces.Increased need for on-farm technologies to enhancefarming operations also drove investment activity in theFarm Management Software,Sensing&Io
46、T category,which saw an 8x jump in funding and 2x growth in dealvolume.UpstreamDownstream4101955732Deal count$500m$244m$176m$88m$86m$64m$42m$34m$8.6m$6.1m$5.1m$5m$2.1mRestaurant MarketplaceseGroceryMidstream TechnologiesPremium Branded Foods&Agribusiness MarketplacesOnline Restaurants&Mea
47、lkitsIn-Store Retail&RestaurantFarm Management Software,MiscellaneousBioenergy&BiomaterialsNovel Farming SystemsAg BiotechnologyInnovative FoodINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM17Average Deal Size by CategoryDEALS BY CATEGORYZomato raised$1.2 billion in FY21 across four$
48、150million-plus rounds ahead of its IPO in July,which skewedthe average deal size in the Restaurant Marketplacescategory.Midstream Technologies investment activity focused onnewer entrants building solutions in logistics,traceability,and processing across the agrifood value chain.In-Store Retail&Res
49、taurant Tech startups saw a 2x jump inaverage deal size from FY20,driven by restaurants andretailers adopting tech solutions to take their businessesonlineandservecustomersduringtheCovid-19pandemic.The average deal size in Premier Branded Foods&Restaurants dipped slightly because the majority of cap
50、italwent into early-stage rounds.The average deal size in Farm Management Software,Sensing&IoT increased almost 4x,driven by farmersadoption of technology to monitor and enhance farmoperations during the pandemic lockdown period.TheAgBiotechnology,Biomaterials,NovelFarmingSystems,and Innovative Food
51、 categories remain nascent,with startups raising smaller,early-stage checks to testproduct-market fit.UpstreamDownstream$30m$10.1m$7m$4.9m$4.2m$3.7m$3.4m$1.9m$1.7m$1.2m$0.7m$0.7m$0.5mRestaurant MarketplaceseGroceryMidstream TechnologiesOnline Restaurants&MealkitsIn-Store Retail&RestaurantPremium Bra
52、nded Foods&Agribusiness MarketplacesFarm Management Software,MiscellaneousBioenergy&BiomaterialsNovel Farming SystemsInnovative FoodAg BiotechnologyINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM18Top Midstream Technology DealsDEALS BY CATEGORYMidstream Technologies startups raised a
53、 total of$176million in FY21,down slightly from the$204 million raisedin FY20.Deal count increased from 20 in FY20 to 29 inFY21,making Midstream Technologies the most activecategory in the agrifoodtech sector.B2B fresh produce platform Ninjacart raised$49.7 millionin Series C funding from Flipkart(W
54、almart)and SyngentaVentures in the years largest upstream deal.Arya Collateral,which operates a post-harvest servicesplatform focused on storage and credit,raised$21million(Series B)from Quona Capital,Omnivore,andLightrock.South India-focused B2B platform Waycool raised$20.6million(Series C)from Lig
55、htrock,Lightbox,FMO,andInnoven Capital.AI-based quality assessment platform Intello Labs raised$5.9 million(Series A)from Saama Capital,SVG Ventures,Nexus,Omnivore,and AgFunders GROW Impact Fund.$49.7m$25.2m$21m$20.6m$11.5m$5.9mNinjacartJumbotailAryaWaycoolErgosIntello LabsOmnivore portfolio company
56、AgFunder portfolio companyINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM19Top eGrocery DealsDEALS BY CATEGORYInvestment and deal volume in the eGrocery category sawa 100%year-on-year increase,with eGrocery startupsraising$244 million across 25 deals.Consumer behaviorshifted online i
57、n FY21 with Covid-19 lockdown measuresin place.Most of the capital raised(85%)went to justthree players:fresh produce retailer BigBasket,seafoodretailerFreshToHome,anddairyproductsplatformCountry Delight.FreshToHome raised$121 million(Series C)from AbuDhabi Investment Office and Ascent Capital.BigBa
58、sket raised$60 million(late stage)from CDCGroup,NuVentures,and Mirae Asset.Country Delight raised$25 million in a Series C round ledby Matrix Partners to deliver high quality milk,sourcedfrom farms,directly to consumers.Omnichannel meat and seafood retailer TenderCutsraised$15 million(Series A)from
59、Paragon Partners andNABVentures in the years largest agrifoodtech Series Around.$121m$60m$25m$15m$6m$2m$1m$1mFreshtohomeBigbasketCountry DelightTender CutsMilkbasketOtipyFreshokartzFraazoINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM20Premium Branded Foods&Restaurant DealsDEALS BY C
60、ATEGORYConsumer concerns around safety,health,and quality droveinvestment into players building premium fresh and processedfood offerings.Yet the pandemic-related economic slowdown ledto a dip in overall funding for this segment,dropping to$88 millionin FY21 from$168 million in FY20.Deal numbers als
61、o fell to 25 inFY21 compared to 37 in FY20.Beer brand Bira 91 raised$50.3 million(Series B)from SequoiaCapital,Kirin Holdings,and Sofina.Plant-based nutrition startup Oziva$12 million(Series B)from EightRoads Ventures,F-Prime Capital Partners,and Matrix Partners.Oziva also raised$5 million(Series A)
62、from Matrix Partners andTitan Capital.Premium tea and snacks company Chai Point raised$8.2 million(Series C)from Eight Roads Ventures,Saama Capital,and DSGConsumer Partners.Farm-sourced egg brand Eggoz raised$1.5 million(Seed)fromAvaana Capital and Rebright Partners.Several packaged goods companies
63、continued to raise on the backof consumer demand for healthy foods.These include breakfastsnack brand True Elements,childrens snack brand Timios,vitaminsupplements maker Power Gummy,dietary supplements brandNutrova,and nutritional foods brand Habbit Health.$50.3m$12m$8.2m$5m$1.8m$1.5m$1.3m$1.2mBira9
64、1OzivaChai PointOzivaTeamonkEggozTrue ElementsSlay CoffeeINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM21Top Agribusiness Marketplace DealsDEALS BY CATEGORY$30m$12m$12m$8.1m*$5.3m$3.4m$2.4mDeHaatDeHaatBijakAnimallCaptain FreshGramophoneVegrowAgribusiness Marketplace startups raised$
65、86 million in FY21,a 3xjump from the$30 million raised in FY20.Volume also increased to 25deals in FY21 from 14 in FY20,owing to the emergence of severalmarketplace platforms providing access to products and services forfarmers and agribusinesses.“Full-stack”farmer platform DeHaat raised two consecu
66、tive rounds at$12 million(Series A)and$30 million(Series B)from investorsincluding AgFunder,Omnivore,and FMO.Wholesale agri-commodity trading platform Bijak raised$12 million(Series A)from Sequoias Surge accelerator,Omidyar Network,andOmnivore,among others.Livestock trading platform Animall raised$8
67、.1 million(across twoSeries A deals)from Surge,Beenext,Omnivore,and Rocketship.Farm inputs e-commerce platform Gramophone raised$3.4 million(Series A)from Siana Capital,InfoEdge Ventures,and Asha Impact.B2B marketplace for fish and seafood Captain Fresh raised$5.3 million(across two Seed deals)from
68、Matrix Partners and Ankur Capital.*cumulative over two dealsOmnivore portfolio companyAgFunder portfolio companyDeals by StageImage courtesy of AquaconnectINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM$100k$900k$6m$18.8m$24.3m$26.5m$89.6m$2.4m$97m$82m$151m$292m$53m$1.38bnAngelSeedSe
69、ries ASeries BSeries CSeries DLate Stage23Investment&Deal Volume by Stage DEALS BY STAGE281101481228#of dealsAvg deal size|$millionsFinancing|$millionsINDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM24Deal Volume by CategoryDEALS BY STAGE4334621161000000Restaurant Marketpla
70、ceseGroceryMidstream TechnologyPremium Branded Foods&RestaurantsAgribusiness MarketplacesOnline restaurants&meal kitsIn-store retail and restaurant techFMS,Sensing&IOTAngelSeedSeries ASeries BSeries CSeries DLate StagePremium Branded Foods&Restaurants startups raised the greatest number of Seed roun
71、ds(17),followed by eGrocery,Midstream Technologies,and Agribusiness Marketplaces(15 each).Agribusiness Marketplace startups raised the most Series A deals,followed by Midstream Technologies startups.Midstream Technologies saw the most Series C deals,followed by eGrocery.Restaurant Marketplaces lande
72、d the most late-stage deals.The only other category in which ventures secured late-stage funding in FY21 was eGrocery.INDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM25Notable Seed Stage DealsDEALS BY STAGE$97 million was deployed across 110 Seed deals in FY21,representing a significa
73、nt increase from FY20($35 million across 50 deals.)Hyperspectral imagery startup Pixxel raised$7.3 million from Lightspeed,Blume,GrowX,Omnivore,and Techstars,making it the largest Seed round in the agrifoodtech space.Rural fintech platform Jai Kisan raised$3.9 million from Arkam Ventures,Blume,and B
74、etter Capital.Agri-commodity procurement platform Procol raised$3.8 million from Sequoias Surge,Beenext,and Blume.Farmer social network and community platform Krishify raised$2.9 million from Orios and Omidyar Network.Wholesale fruit and vegetable marketplace Vegrow raised$2.5 million from Matrix Pa
75、rtners and Ankur Capital.Precision ag and plant bioscience platform Absolute Foods raised$2.3 million from Surge.$7.3m*$5.3m$3.9m$3.8m$2.9m$2.5m$2.3m$2mPixxelCaptain FreshJai KisanProcolKrishifyVegrowAbsolute FoodsOtipyOmnivore portfolio company*Cumulative over two dealsINDIA AGRIFOOD STARTUP INVEST
76、MENT REPORT:2020-2021|AGFUNDER.COM26Notable Series A Stage DealsDEALS BY STAGEInvestors committed$82 million across 14 Series A deals in FY21,down from$117 million across 31 deals in FY20.FY21 saw larger Series A ticket sizes,however,with the average size increasing to$6 million from$4 million in FY
77、20.Consumer demand for higher-quality produce drove funding for omnichannel meat and seafood retailer TenderCuts,which raised$15 million from NABVentures and Paragon Partners in the largest Series A round in the agrifoodtech space.Farmer marketplace platform DeHaat raised$12 million from AgFunder,Om
78、nivore,FMO,and Sequoia Capital.Grain supply-chain platform Ergos raised$11.5 million from CDC Group,Chiratae Ventures,and Aavishkaar Capital.Food quality assessment startup Intello Labs raised$5.9 million from AgFunders GROW,Omnivore,Saama Capital,SVG Ventures Thrive,and Nexus.$15m$12m$12m$12m$8m$6m
79、$5mTenderCutsDeHaatBijakErgosAnimallIntello LabsOzivaOmnivore portfolio companyAgFunder portfolio companySources&MethodologyImage courtesy of S4S TechnologiesWhat is AgriFoodTech?WHAT IS AGRIFOODTECH?Agrifoodtech is the small but growing segment of the startup and venture capital universe thats aimi
80、ng to improve or disrupt the global food and agriculture industry.As with all industries,technology plays a key role in the operation of the agrifood sector a$7.8 trillion industry,responsible for feeding the planet and employing well over 40%of the global population.The pace of innovation has not k
81、ept up with other industries and today agriculture remains the least digitized of all major industries,according to McKinsey.The industrial agrifood sector is also less efficient than other industries,with an increasing number of demands and constraints being placed on it.These pressures include a g
82、rowing global population;climate change and global warming;environmental degradation;changing consumer demands;limited natural resources;food waste;consumer health issues;and chronic disease.The need for agrifoodtech innovation is greater than ever.This creates many opportunities for entrepreneurs a
83、nd technologists to disrupt the industry and create new efficiencies at various points in the value chain.Broadly speaking,agrifoodtech startups are aiming to solve the following challenges:food waste,CO2 emissions,chemical residues and run-off,drought,labor shortages,health and sugar consumption,op
84、aque supply chains,distribution inefficiencies,food safety and traceability,farm efficiency and profitability,and unsustainable meat production.There are many ways to categorize agrifoodtech startups highlighting the complexity of the industry.See page 30 for more information on our categorization s
85、ystem,which we developed in consultation with venture capitalists,entrepreneurs,and other industry experts.INDIA AGRIFOOD STARTUP INVESTMENT REPORT:2020-2021|AGFUNDER.COM29Sources&MethodologySOURCESData Sources&CurationThe raw data for the report comes from multiple public and proprietary channels s
86、uch as Crunchbase,Tracxn,AgFunder,VCCircle,and Pitchbook,which gather publicly available information such as press releases and regulatory filings,as well as crowdsourcing directly from the industry.Only startups falling in our defined categories(see pages 14 and 30)are included.The raw data has bee
87、n heavily curated by the AgFunder and Omnivore teams to ensure that it is relevant,accurate,up-to-date,complete,and categorized according to AgFunders proprietary tagging system for inclusion in our report.Although some deals are not disclosed which might affect some results we believe our database
88、reflects the overall situation of agrifood startups in India.While we are happy to share our findings,AgFunder andOmnivore,our India report partner,reserve all rights with respect to all material contained in this report and require it to be fully and accurately cited when reproduced.Undisclosed Fin
89、ancingsOf the 189 financings in our curated data set,nine wereundisclosed and further detail could not be determined through research or direct sources.We excluded undisclosed financings when computing averages and median values.In some cases,we were able to confidentially obtain financing figures d
90、irectly from the the investors,on the condition that they only be included in the aggregate figures.Multiple FinancingsIn some cases,multiple financings were reported for the same company in the same year.In the case of distinct funding rounds(Seed,A,B,),we counted these as separate rounds.Where a c
91、ompany raised capital two or more times within three months,we aggregated the total into one round.In some cases,the company raised more than one Seed or Series A round separated by more than a few months;in such cases,we have considered them as separate deals.INDIA AGRIFOOD STARTUP INVESTMENT REPOR
92、T:2020-2021|AGFUNDER.COM30Sources&MethodologySOURCESCategorizationAgFunders categorization system is designed to capture broad themes across the complex agrifoodtech value chain(see page 14 for a list of categories).The agri-food sector has a wide supply chain spanning inputs and industrials,farming
93、,logistics,wholesale distribution,processing,retail distribution and the consumer.In many cases,technologies such as marketplaces connect different links in the supply chain and so in this report weve chosen to focus on high-level themes.To assist with the categorization and to avoid subjectivity,Ag
94、Funder first employs over 150 machine learning and artificial intelligence models to suggest category placement and to help tag the company according to the technology and its place in the supply chain.The AgFunder and Omnivore teams manually reviewed each deal in this report.Given the importance of
95、 consumption upgrade as a driver in Indias startup ecosystem,AgFunder and Omnivore implemented an extra category-Premium Branded Foods&Restaurants-to reflect this influential trend.This category also appears in AgFunders China report.TimelinesIn most cases,the details of a funding are recorded withi
96、n a few days of its first public announcement.However,there are times when these details are only shared months or even years after the deal has officially closed.Reporting PeriodWe have used the Indian financial year,ending March 31,for the purposes of this report.Therefore,the numbers in this repo
97、rt reflect performance for FY21,i.e.,April 1,2020March 31,2021.Are we missing your data?Are we missing your data?Dont forget to send it to us!Dont forget to send it to us!DataAgFor add direct onto CSpecial thanks to our portfolio companies Aquaconnect,DeHaat,Intello Labs,and S4S Technologies,as well as Omnivore portfolio company Clover,who contributed images to this years report.Additional images from iStock.