India: Evolution to Digital Farming Drives Startups, Funding, and 25% Growth
India currently hosts more than 450 start-ups in the agritech sector, according to the National Association of Software and Service Companies (NASSCOM) report that was released on Monday.
According to the report, Agritech in India – Emerging Trends in 2019, the sector in India is growing at a rate of 25%, year on year, and has over the recent years witnessed some of global and sector-focused funds directly investing in agritech start-ups.
According to the report, as of June 2019, the sector has received more than $248 million funding, a rise of 300% as compared to the previous year.
With the recent rise in funding, 48% agritech CEOs, as per the NASSCOM survey, believe they have the next agritech unicorn in the coming three years.