Close

$248 million funding for Indian agritech start-ups in H1 2019: Nasscom

Understanding the vision of “Make in India”, for the world, it is assessed that by 2020 the agritech division to be at the middle phase of advancement and will lead India’s voyage towards in general change

The Indian agritech sector included start-ups received more than $248 million financing in the initial six months this year, as per a report by NASSCOM on Monday.

The report, titled “Agritech in India – Emerging Trends in 2019,” said that Indian agritech new businesses have gotten $248 million funding in H1 2019, enlisting 300 percent development when contrasted with H1 2018 financing. As per the report, developing at the pace of 25 percent year-on-year, India presently has in excess of 450 new businesses in the agritech part.

The IT industry body stated in its report, “Over recent years, the agritech sector in India has witnessed some of the global and sector-focused funds directly investing in agritech start-ups.”

The report further added, “With the recent rise in funding, 48 per cent Agritech CEOs, as per the NASSCOM Agritech CEO survey, believe to have the next agritech unicorn in coming 3 years.”

When agriculture division is going through misery with high value unpredictability, atmosphere risks, and obligation, the spike in interest for the agritech sector, both from business visionaries just as financial specialists, could help in improving the homestead part.

The report said that each ninth agri-tech startup on the planet is beginning from India, including that there has been a 1.7-times increment in normal rancher salary in a decade ago, empowering farmers to attempt new tech arrangements.

Debjani Ghosh, President of Nasscom was quoted saying, “Adoption of technology in agriculture has always needed a structured institutional focus and technology firms are trying to break into the agricultural landscape using newer business models.”

She further added, “The findings of the report are a testimony to the potential of the agritech industry and the opportunities that India presents in the agriculture and farming landscape.”

Understanding the vision of “Make in India”, for the world, it is assessed that by 2020 the agritech division to be at the middle phase of advancement and will lead India’s voyage towards in general change, the report said.

Editorial Desk at Agrigate.Global

scroll to top