US$ 248-mn to Indian agri-tech start-ups in 2019
According to the data put together by IT industry body, Nasscom, the country’s agri-tech segment has received more than US$ 248 million funding between Jan’19 to June’19, recording 300% growth as compared to the previous year. Titled ‘Agritech in India Emerging Trends in 2019’, the report also stated that India currently hosts more than 450 startups in the agri-tech sector. It noted that there has been a 25% yoy growth in the segment. Further, there has been a 1.7-times increase in average farmer income in the last decade as per the findings of the report.
“India’s agriculture sector is advancing steadily towards its digital transformation and the startup ecosystem is playing a critical role here, bringing innovation and disruption in much-needed areas,” Nasscom President Debjani Ghosh opined.