With 118.7 million farmers, which accounts for more than half of its population, India depends heavily on agriculture. in the last couple of years, India has seen a rise in the number of agritech startups that are not only making technology more accessible but also helping farmers to improve their lives.
The nation's agritech market has the potential to reach $24 billion by 2025, according to an EY report. Currently, India is home to more than 450 agritech startups, growing at a rate of 25 percent year-on-year. These startups are increasingly empowering 150 million-odd farmers with data-led systems. In the last couple of years, there has been a rise in the number of agritech startups that are not only making technology more accessible but also helping Indian farmers improve their lives.
Agritech Startup FAQs
What are agritech startups?
Agritech startups or agricultural technology involves environmentally sound and sustainable farming methods, implemented widely in agriculture industry in order to attain profitability and efficiency, both. Argitech is a value innovation as agriculture and India has a unique bond. Agritech startups are required to improve rural incomes, safeguard farmers interests and promote economic turnover, alongside securing India's nutritional and food needs.
What is the future of agritech?
Agritech is a sector that has a promising potential, and the sustainable agriculture systems offers synergistic opportunities for collective growth of capital investment and agriculture. Since agritech is away from western-influenced chemical heavy methods that are widely adopted today. Agritech startups have a strong focus in solving real problems than perceived problems unlike other startups today, which is enough to loop in quantitative investment. According to a report by EY, the Indian agritech market has the potential to reach $24 billion by 2025.
How many agritech startups are in India?
Over the last few years, numerous agritech startups have stepped in to help farmers increase productivity and reap better yields through the use of technology. Currently, India is home to more than 450 agritech startups, growing at a rate of 25 percent year-on-year, according to a 2019 NASSCOM report. These companies are increasingly empowering 150 million-odd farmers with data-led systems.
What does agritech mean?
Agritech is the use of technology for farming that is developed to improve efficiency and profitability. While most commonly used in horticulture and agriculture, agritech is also found in forestry, aquaculture and viticulture. An agritech startup aims to improve farming through information monitoring and analysis of weather, pests, soil and air temperature. Agritech also includes the use of automation, such as controlling heaters and irrigation and employing pest control through aerosol pheromone dispersal.
Which are the top agritech startups?
The growing adoption of deep-tech solutions across India is driving the country’s agricultural revolution. Many agritech startups, including Ninjacart, WayCool, AgroStar, DeHaat, Stellapps, Bijak, CropIn Technology, EM3 AgriServices, Intello Labs and Aibono, are some of the biggest companies in this sector.