FAQs about Agritech
What are agritech startups in India?
The agritech startup helps farmers by offering advice from experts on how to manage crops and boost yield. Currently, five Indian startups in this space are innovating to help farmers increase their productivity and yield - AgroStar, DeHaat, Cropln, Fasal and IntelloLabs.
What's the future of agritech in India?
Agritech is critical to any economy because along with food, it also provides livelihood opportunities and contributes to technological advancement. As far as its future in India is concerned, it is believed to be promising, especially as it becomes more integrated with tech entrepreneurs.
How agritech is booming in 2022?
Indian agriculture sector is undergoing a revolution, thanks to the boom in startups in this space. If estimates are to be believed, Indian agritech industry can reach $24 billion in revenue by 2025, and holds immense potential for the future of Indian agriculture. Being an agrarian economy largely with 58 percent of the population dependent on agriculture, the industry contributes about 17-18 percent to the country's GDP.
How many agritech startups are in India?
Currently, India is home to more than 450 agritech startups, growing at a rate of 25 percent year-on-year, according to NASSCOM report. These companies are increasingly empowering 150 million-odd farmers with data-led systems.
Which was the first Indian agritech startup to become a unicorn?
Pune-based ElasticRun became the first Indian agritech startup to enter the unicorn club in February 2022. The Kirana commerce startup raised $300 million in a fresh round of funding led by Masayoshi Son's SoftBank.