The agtech industry is booming. Capital invested in agtech startups in the US is set to total more than $1 billion this year, up from $832 million in 2016 and by far the biggest number since the beginning of the decade.
There are a number of reasons for rising venture capital interest in agtech. For one thing, farmers need to produce enough food to feed the growing population—and traditional farming methods may no longer do the job. More and more, startups are using new and existing technology to do everything from growing crops to managing labor to distributing food. It's likely VC investment in the sector will only continue to rise.
Here's a visual representation of the VC dollars flowing into US agtech: