The story of agtech in 2020 was one of struggles due to COVID-19 and success in spite of it, ending with a triumphant Q4: Global VC deal value in agtech totaled $2.3 billion, up 82% over Q3 and 56% over Q4 2019.
So what’s next? As the world begins to look past the pandemic, population growth and climate change will continue to drive a surge in agtech funding, according to our latest Emerging Tech Research, as the industry reckons with the planet’s rapidly changing needs. Other highlights from the report include:
- Ag biotech grew 41% in 2020, with annual deal value reaching $2.2 billion—the largest subsector within the agtech industry.
- Farmers are relying on digitization and ag marketplaces to boost profits and reach more customers, adding stability to a historically low-margin business.
- The indoor farming sector grew 168% year-over-year, propelled by mega-rounds used to build massive new facilities.