As the global population continues to expand and environmental challenges increase, the AgriTech industry is embracing innovative technologies and sustainable practices. With the integration of advanced data analytics, biotechnology, and automation, AgriTech is reshaping the traditional farming landscape. Explore more about the underlying industry data in the AgriTech Report 2024.
This report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights AgriTech Report 2024
- Executive Summary
- Introduction to the Agriculture Industry Report 2024
- What data is used in this AgriTech Report?
- Snapshot of the Global Agriculture Industry
- Funding Landscape in AgriTech
- Who is Investing in AgriTech?
- Emerging Trends in the Agriculture Sector
- 5 AgriTech Startups impacting the Industry
Executive Summary: Agricultural Outlook 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 3.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 6100+ agritech startups developing innovative solutions to present five examples from emerging agriculture trends.
- Sector Resilience: Despite a -1.44% decrease in industry growth, AgriTech remains vibrant with 153 600+ companies reflecting a diverse ecosystem.
- Manpower: AgriTech jobs have increased by 601 000 in the past year, with a workforce exceeding 12.4 million, indicating the industry’s capacity to create jobs on and off the field.
- Technological Innovations: Over 52 800 patents filed, highlighting AgriTech’s commitment to technological advancement and continuous improvement.
- Global Spread: Top country hubs for AgriTech include the US, India, the UK, Germany, and Canada, showcasing global distribution and innovation.
- Investment Landscape: More than 36 000 funding rounds closed, demonstrating a dynamic financial sector with robust investment activity.
- Influential Investors: Combined investment value exceeds USD 7.5 billion, with major contributors like Tiger Global Management and Temasek Holdings, showing strong financial backing in the sector.
- Emerging Trends: Precision fermentation, cultivated meat, and yield farming are key trends, reflecting a shift toward sustainable and efficient agricultural practices.
- Startup Highlights: Features five pioneering startups including The Cultivated B (precision fermentation), Opo Bio (cultivated meat), Carboniferous (agri carbon capture), Miruku (plant-based dairy protein), and FarmCube (modular vertical farming).
- Patent and Grant Support: With more than 52 000 patents and over 4920 grants awarded, this underscores the sector’s focus on R&D and innovation.
- Future Outlook: AgriTech is poised for growth with a focus on sustainability, driven by technological innovations in agricultural management and crop development.
- Recommendations for Stakeholders: The report highlights the need to embrace agricultural technologies, invest in sustainable practices, and leverage global agriculture trends.
Explore the Data-driven Agriculture Industry Research Report 2024
The AgriTech Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Despite a slight decrease in industry growth by -1.44% over the last year, the database reveals the total companies operating in the industry at 153 600. This illustrates a vibrant ecosystem supporting a multitude of solutions and services in agricultural technology. The employee growth within the last year added 601 000 new AgriTech jobs. This surge reflects AgriTech’s new influence and its ability to create employment opportunities both on and off the farm.
Unlock comprehensive insights into the AgriTech sector!
The report visualizes the distribution of 6000+ global startups and also highlights the US, India, the UK, Germany, and Canada as the top five country hubs for AgriTech. Highlighting the innovative spirit of the sector, the report features five pioneering global AgriTech startups. They include The Cultivated B from Germany, Opo Bio from New Zealand, Carboniferous from the USA, Miruku also from New Zealand, and FarmCube from France.
What data is used to create this AgriTech report?
Based on the data provided by our Discovery Platform, we observe that AgriTech ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The industry has garnered considerable attention, with more than 200 000 publications in the last year.
- Funding Rounds: Demonstrating its dynamism in the financial sector, the agriculture industry closed more than 36 000 funding rounds, as per our extensive database. This high number indicates a robust investment landscape.
- Manpower: With a workforce exceeding 12.4 million, agriculture is a major employer. Notably, in the last year alone, the industry has added more than 600 000 new employees, showcasing its expanding role in the global job market.
- Patents: Innovation in agriculture is thriving, as evidenced by the filing of more than 52 800 patents. This high number of patents underscores the industry’s commitment to technological advancement and continuous improvement.
- Grants: The sector has also been a significant recipient of funding support, with over 4920 grants awarded. This financial backing further fuels research and development initiatives within the industry.
- and more. Book a demo to access all data points used in this report.
A Snapshot of the Global Agriculture Sector
The industry currently employs at least 12.4 million people, underscoring its role as a significant employment generator. In the last year alone, the sector has experienced impressive employee growth, adding 600 thousand new jobs. This surge in manpower reflects the increasing demand for innovative agricultural technologies and sustainable farming practices.
The industry also boasts an impressive number of over 52 800 patents, demonstrating a strong commitment to research and development. Additionally, the sector has received support through more than 4 920 grants, indicating robust backing for growth and innovation.
Explore the Funding Landscape in AgriTech
Financially, the sector has attracted substantial investments, with an average investment value of USD 13.4 million. This figure indicates strong investor confidence in the potential of AgriTech solutions to revolutionize agriculture. Moreover, the involvement of over 10 000 investors highlights the wide-ranging interest in this field, spanning from individual angel investors to large venture capital firms.
The vibrancy of the sector is further demonstrated by the closing of more than 36 000 funding rounds. This number not only represents the sheer volume of financial transactions but also signifies the continuous innovation and development within the AgriTech space. These funding rounds have facilitated the growth of startups and established companies alike, enabling them to expand their operations, invest in R&D, and bring cutting-edge technologies to the market.
Who is Investing in AgriTech?
The AgriTech industry witnesses a combined investment value of more than USD 7.5 billion from its top investors, illustrating the high level of financial commitment and confidence in the sector’s potential. This investment is not only a testament to the industry’s growth but also to its prospects. Here is a closer look at the top investors and their contributions:
- Tiger Global Management: A key player, Tiger Global Management has invested in 7 companies, with a total investment of USD 1.2 billion. This substantial investment underscores their strategic focus on AgriTech as a high-growth area.
- Temasek Holdings: With investments totaling USD 1 billion across 17 companies, Temasek Holdings has shown a strong and diverse portfolio.
- European Investment Bank: This institution has invested USD 996 million in 12 companies, highlighting its support for innovation in agriculture within Europe and beyond.
- Unigrains: Specializing in the AgriTech sector, Unigrains has invested USD 989 million in 14 companies, showcasing their dedicated commitment to advancing agricultural technologies.
- Tencent: A major global player, Tencent has a portfolio of 12 companies with an investment of USD 918 million. This reflects Tencent’s strategy of diversifying investments in cutting-edge sectors.
- SoftBank Vision Fund: With a focus on transformative technologies, SoftBank Vision Fund has invested USD 904 million in 7 companies.
- European Bank for Reconstruction & Development: Investing in 22 companies with a total of USD 900 million, this institution is playing a pivotal role in supporting agricultural innovation across regions undergoing economic transition.
- Cargill: With an investment of USD 748 million in 9 companies, Cargill, a major player in the agricultural sector, is extending its influence by investing heavily in AgriTech startups.
These top investors, through their substantial financial injections, are fueling the growth of individual companies. They also contribute to the development of the AgriTech industry. Their investments are pivotal in driving innovation, enhancing sustainable practices, and shaping the future of agriculture.
Gain Access to Top Agriculture Innovations & Industry Trends with the Discovery Platform
The latest AgriTech trends underscore a concerted push towards innovation and sustainability in agriculture. Precision Fermentation and Cultivated Meat are gaining momentum, reflecting a shift towards optimizing biochemical processes and developing sustainable animal product alternatives. Yield farming leads the trends with the highest company engagement with 900+ companies, highlighting its importance in maximizing agricultural output. Book a demo to explore the full list of trends.
Get Instant Access to All Agriculture Trends & Companies!
5 Top Examples from 6100+ Innovative AgriTech Startups impacting the Industry
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
The Cultivated B advances Precision Fermentation
German startup The Cultivated B produces raw materials and smart ingredients using bioengineering and precision fermentation techniques. It leverages plants, algae, and diverse organisms to create products with desirable textures, tastes, and colors. A key focus is developing proteins and peptides as alternatives to animal-derived products using microbial production hosts.
The startup also optimizes biomass at scale for industries like cultivated meat. It provides sustainable and naturally sourced options that allow customers to mimic conventional foods while serving health-conscious consumers. Its research in this emerging industry further helps advance alternative protein production methods.
Opo Bio produces Cultivated Meat
Opo Bio is a New Zealand-based startup working on cell line development for cultivated meat production. It creates affordable cultivated meat products and increases scientific knowledge in the field. Opo builds a multi-species and multi-cell type bank of products for both research and commercial use, as well as a supply chain for the industry to help companies scale.
Opo also enables large-scale cultivated meat production by optimizing cell lines and designing cell-specific ingredients. This makes cultivated meat a viable and affordable alternative protein for the food industry.
Carboniferous enables Agricultural Carbon Sequestration
US-based startup Carboniferous works on a radical solution to enable carbon sequestration through biomass preservation in anoxic basins. However, the startup seeks to recreate this natural process on a smaller human timescale. All biomass is sourced sustainably from crop stalks after food harvesting to avoid increased land use.
It currently partners with independent science organizations to evaluate measurements and removed carbon through monitoring, reporting, and verification. Further, the process aims to spread the financial benefits of carbon dioxide removal to larger farming communities.
Miruku provides Plant-based Dairy Protein
Miruku is a New Zealand-based startup that advances dairy production by engineering oilseed crops that produce dairy proteins and fats in their seeds. It sustainably and cost-effectively manufactures dairy ingredients through this Dairy Seed System, which uses existing agricultural infrastructure. Miruku enables food and beverage companies to make food production climate-friendly, nutritious, and affordable, at large scales.
FarmCube builds Modular Vertical Farming Solutions
French startup FarmCube offers modular farm systems for growing fruits, vegetables, and aromatics. Its patented technology includes aeroponic culture chambers in closed enclosures that allow climate and nutrition to be fully controlled. This allows crops to be experimented with or produced year-round.
FarmCube provides a cloud-based monitoring system called Farm3.0 to constantly monitor the state of plants inside the growing rooms. The culture chambers are equipped with advanced phenotyping sensors like hyperspectral imaging, 3D vision, electrophysiology, and more. FarmCube also uses technologies like AI and robotics to closely monitor crop growth and optimize production.
Looking for Comprehensive Insights into Agriculture Trends, Startups, or Technologies?
The AgriTech report reflects the sector’s appetite for growth and innovation. The industry’s commitment to sustainability and technological advancement will further revolutionize agriculture with investments, research, and development within AgriTech. Book a platform demo to explore all 6000+ startups and scaleups, as well as all industry trends impacting agriculture and related industry companies.