Investments in Indian agri-tech startups fell 45 per cent during 2022, ‘23: FSG

| | New Delhi
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Investments in Indian agri-tech startups fell 45 per cent during 2022, ‘23: FSG

Tuesday, 26 September 2023 | PTI | New Delhi

Investments in Indian agri-tech startups fell by 45 per cent during 2021-22 and 2022-23 fiscal years, primarily due to a hike in global interest rates and heightened investor caution amid rising uncertainty, reveals consulting firm FSG’s new report. Meanwhile, global agri-tech investments declined by 10 per cent during calendar years 2022 and 2023, it said.

Going forward, FSG expects the funding slump to continue into FY24 before springing back in FY25. It expects that startups will continue focusing on profitability to tide over the next financial year.

“Investors are likely to continue being cautious and direct their limited funding towards established business models, such as follow-on funding for companies in the mid-stream agri-tech category,” it said.

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