Agritech News

Hey there! Let's talk about what's up in the world of agritech for the year 2023. First off, 2022 was a year of resilience, convergence, and consolidation in the agritech industry. And that's not all, there's been a steady flow of new tech paradigms in the fourth industrial revolution that led to exciting innovations in agritech. nvestors are backing startups that are trying to solve long-standing problems with quality and data in the agriculture system. This means we're likely to see more involvement from public and private investors, which will help the industry grow and make some moolah. The tech-powered agriculture market is expected to be worth $13.50 billion by 2023, so that's pretty exciting. Hey there! Let's talk about what's up in the world of agritech for the year 2023.

Mohit Pande is chief business officer; Vijay Nelson chief product officer and Sujit Janardanan chief marketing officer

The Omnivore report points out the need for investment in horticulture, dairy, poultry, aquaculture and food processing and also anticipates a future with significant advances in farm mechanisation and automation

Factors such as locusts attack, venture funding and investments, and the economic stimulus on agriculture contributed to this sudden uptick in popularity, according to the Wizikey Agritech report

Management is confident of maintaining double digit revenue growth this fiscalWith the monsoon making a timely onset and IMD forecasting good rains, farmers' sentiment has been upbeat

WayCool Foods plans to use the funds to introduce advanced technology, implement strict hygiene measuresThe company has previously raised three rounds of funding from Lightbox, LGT Lightstone Aspada, FMO, Caspian Impact Investment, and Northern Arc Capital Ltd.

The funding will help us accelerate growth in international markets, specifically the US and across Asia PacificIn March, 2019, Intello Labs raised $2 million in a seed round, from Nexus Venture Partners and Omnivore

Clover to use the funds to grow its farm network and diversify their offerings

48% agritech CEOs, as per the NASSCOM survey, believe they have the next agritech unicorn in the coming three yearsAccording to the report, as of June 2019, agritech sector has received more than $248 million funding

Leveraging the full potential of agritech to solve the problems in India’s agriculture sector is possible with private capitalAgritech startups can also focus on developing farmer-inclusive business models to ensure positive, long-term economic outcomes