The startup ecosystem, venture capitalists, and the government all provided the Indian agritech industry with strong support during the 2021–2022 period, which generated a lot of initial momentum. This early promise has since diminished, though, as funding has all but vanished and significant players who were on the verge of becoming unicorns—like Ninjacart, Dehaat, and Waycool—remain trapped in the same stage with their funding plans shelved. The sector has seen several shutdowns and layoffs in recent years, indicating that agritech needs a new green revolution because it faces significant obstacles to survival.
Key Highlights
- Agritech startups secured only 2% of global venture funding since 2020, totaling approximately $2.1 billion.
- Despite significant capital inflows, agritech has yet to produce a unicorn, unlike other sectors.
Between January 2020 and the first half of 2025, more than 160 agritech startups in India raised a total of more than $2 billion, according to data compiled by TheKredible. This comprises 246 funding agreements, of which 60 deals brought in $1.59 billion for growth-stage startups and 180 deals brought in over $500 million for early-stage ventures.
Even though $107 billion has been raised since January 2020, agritech startups have only received 2% of all venture capital inflows. Comparing this to fintech, SaaS, e-commerce, healthtech, and edtech reveals a significant disparity.
In contrast to the more than 120 unicorns in the larger Indian startup ecosystem, the agritech sector has yet to produce a single unicorn despite significant capital inflow. As a point of comparison, the top three funded companies—Ninjacart, Dehaat, and Waycool—are valued at $815 million, $705 million, and $700 million, respectively, and raised their most recent significant equity funding in 2022.
Also Read: SEBI Introduces Settlement Scheme for VCs; Scheme Opens on July 21
Agritech funding year over year
With a sharp rise in venture capital inflow across industries, the years 2021–2022 were a golden age for the Indian startup ecosystem. During this period, agritech also reached its zenith, with funding increasing fourfold from $155 million in 2020 to over $630 million in 2021. Building on this momentum, the industry saw a further 25% growth in 2022, reaching its highest level to date at $802 million.
Investor interest in the agritech industry steadily decreased after peaking in 2022. Funding plummeted by 78% to $178 million in 2023. The momentum did not last, as funding fell by 58% in the first half of 2025 to just $96 million, despite a slight recovery in 2024 with an increase of almost 30%.
Indian agritech startups raised a total of $222 million in 2019 and $89 million in 2018, according to data from Venture Intelligence.
