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The dominant themes for agtech in 2020 were of vulnerabilities laid bare by COVID-19 and then success achieved despite it. The sector delivered emphatically on the latter in Q4: Global VC deal value in agtech totaled $2.3 billion, up 82% over Q3 and 56% over Q4 2019. But what comes next?
As the world begins to look past the pandemic, population growth and climate change will continue to drive a surge in agtech funding as startups and investors respond to the needs of a rapidly changing planet, our analysts write in the Q4 Emerging Tech Research on the sector. Other highlights from the report include:
- Ag biotech—the largest subsector within the agtech industry—grew 41% in 2020 with annual deal value reaching $2.2 billion.
- Farmers are using digitization and ag marketplaces to boost profits and reach more customers, adding stability to a historically low-margin business.
- The indoor farming sector grew 168% year-over-year, propelled by mega-rounds used to build massive new facilities.