Investment in Agrifoodtech startups has hit its lowest point in six years, declining nearly 50% from 2022 to 2023 as a result of fewer and smaller deals.
Agrifoodtech startups raised $15.6 billion globally in 2023, down 49.2% percent from $30.5 billion in 2022. Funding to all categories declined with the exception of two: Bioenergy & Biomaterials and Farm Robotics, Mechanization & Equipment.
Europe felt it less acutely, with a 14% year-over-year decline in dollar funding.
African investment levels remained higher than 2021 at $260 million, whereas Asia did not recover its pre-Covid totals with $3.8 billion.
Source: AgFunder
