BREAKING EXCLUSIVE: Indian AgriFood Startups Raise $1.7bn in Venture Capital 2013 - 2017 - AgFunderNews
Indian AgriFood Startups Are Innovating to Give Consumers What They Want, and Fix a Broken Industry. Find out more in this first-ever India AgriFood Startup report.
- While food delivery startups dominated downstream investment (eGrocery – $526m, Restaurant Marketplaces – $470m, Online Restaurants & Meal Kits – $148m), Premium Branded Foods and Restaurants raised $308 million during the period, and we expect this category to drive early stage deal activity in the coming months.
- Total investment in Indian agrifood startups grew over the five years to $342m in 2017 from $89m in 2013.
- Investment activity in Indian agrifood startups fell off in 2015 after the failure of multiple VC-backed startups in the hyperlocal food delivery space, including PepperTap, an eGrocer that had raised over $50m, and TinyOwl, a restaurant marketplace that had raised over $30m.
- We expect these farmtech categories to drive early stage funding levels in the coming months.
- With the exception of US-headquartered Accel Partners, specialist funds dominate upstream funding activity in India.