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Q1 2021
Emerging Tech Research: Agtech
May 28, 2021
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The coronavirus pandemic revealed major vulnerabilities in agricultural supply chains, and highlighted the need for automation and stronger safety measures. Venture funding for agtech startups hit $1.5 billion in the first quarter of 2021, marking the fourth straight quarter of the vertical pulling in at least $1.5 billion.
Our latest installment of Emerging Tech Research explores the major trends that shaped this space in Q1, including optimism around pollination tools and shelf-life extension technologies.
Key takeaways
- An emerging cohort of companies is developing shelf-life extension technologies to prolong freshness, reduce food waste, and improve margins for growers.
- Growers are recognizing the importance of pollination and are seeking out tools and services such as rental bee colonies and artificial pollination methods.
- Widespread labor shortages have led to a rise in the development of harvest robots. The technology involves the use of computer vision, 3D perception, and AI to identify, assess, and pick crops.