Close to $80 million in VC has been invested into the agricultural IT sector so far in 2014, across 11 different companies. That total is higher than the amount of capital invested from 2010 to 2013, which brought only $64 million into the industry. Reflecting population growth patterns, companies worldwide have garnered backing: Esoko Networks, a Ghana-based communication platform for the agriculture industry, raised $1.5 million in May; India’s CropIn Technology Solutions has completed two rounds this year; and irrigation management solutions provider Hortau of Canada received $3.5 million in funding in April. So far in September alone, both Conservis and aWhere (details below) have also raised funds.
Click image for list of investments
Across verticals such as Big Data, these companies help farmers produce more efficient crop yields, conserve water and fertilizers, and integrate real-time forecasts and weather patterns into planting and harvesting. Agricultural management is becoming ever more important as world population booms and demand skyrockets; helping farmers keep up sustainable production could prove lucrative for VC firms.
Click here to see the list of VC investments in the space since 2005.