Monthly Archives

December 2018

BREAKING EXCLUSIVE: Indian AgriFood Startups Raise $1.7bn in Venture Capital 2013 – 2017

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BREAKING EXCLUSIVE: Indian AgriFood Startups Raise $1.7bn in Venture Capital 2013 – 2017

Indian AgriFood Startups Are Innovating to Give Consumers What They Want, and Fix a Broken Industry.

India has a rapidly growing population of 1.3 billion and is predicted to surpass China as the most populated country in the world by 2024. With billions of mouths to feed and a broken agricultural supply chain, innovation in the country’s agrifood industry is desperately needed.

Luckily there is a bustling startup ecosystem working on disrupting the status quo across the value chain, and today we release the first-ever look at the India AgriFood Startup industry in collaboration with local agrifood VC Omnivore. (Download the free 36-page report here.)

Agritech Sprouts Start-Ups

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Agritech Sprouts Start-Ups

Way back in 2010, Krishna Kumar, a Bengaluru-based electronics engineer, wanted to start an agri-tech company that would address some of the challenges farmers faced in rural Karnataka. Kumar’s aim was to provide a Software-as-a-Service (SaaS) solution for farm digitisation and enable farmers take data-driven decisions on yield prediction, pest control, disease prevention, newer varieties of seeds to maximise production, and others.

However, finding funds for his startup, CropIn, was tough. “Most investors didn’t think agriculture could become a viable business model, especially if it revolved around technology. There weren’t any parallel models,” says Kumar. His team also found it difficult to get customers for their first product, SmartFarm, a farm management solution. So, to build credibility, they approached big and small agri-businesses to use and then validate their product, which they then marketed with endorsements. Things started looking up in 2014-15, in part also because of “the digital transformation, smartphone boom and favourable ecosystem that developed for entrepreneurs”, notes Kumar.