Agtech sector is booming, in part due to COVID-19
PitchBook reports that COVID-19 highlighted the challenges of feeding the world in a crisis while minimizing the environmental impact of agriculture.
The organization’s latest “Emerging Tech Research” report notes that venture funding for agtech start-ups hit a quarterly record of $3.2 billion in Q3 2021, boosting year-to-date annual deal values to $7.8 billion. That eclipses 2020’s total by more than 20 percent.
Key takeaways from the report, downloadable here, include:
- More VC-backed companies are sprouting up to offer ag biologicals, environmentally friendly alternatives to synthetic fertilizers.
- Emerging techniques are providing more complete measurements of soil health. Agronomists can glean insights from in-field sensors and hyperspectral imaging using drones, planes, or satellites.
- Carbon farming, or capturing atmospheric carbon in soil and crop roots, can help combat climate change while encouraging sustainable farming practices.
You can access the report here.
