New investment in India’s agriculture and food technology sector has more than doubled in the last financial year.
According to the market research results of the companies ‘Agfund’ and ‘Omnivor’:
The total amount invested in innovative companies in the agriculture and food technology sector in FY 2022 is $460 crore. This is an increase of 119 percent compared to the previous fiscal year 2021.
Similarly, 189 contracts were executed in the agro-food technology sector in the financial year 2021. That number increased to 234 in the last financial year.
The overall increase in investment in innovative companies encouraged new investments in the agri-food technology sector.
In the last financial year, startups raised a total of $380 crore in capital. This is a 115 percent increase from the $177 crore raised in the previous fiscal year 2021. The $120 crore capital raised by food delivery company Swiggy played an important role in this remarkable growth. This is 26 percent of the investment made in the food technology sector.
Restaurants and e-grocery companies led the innovation industry that attracted the most investment in the last financial year. 190 crores and 140 crores were invested in these two segments respectively.
These two segments alone accounted for 66 percent of the total investment in the food technology sector, the report said.