- Investment into “agritech” startups is booming as the sector pivots to meet rapid population growth.
- Startups are improving everything from beekeeping and food waste to disease testing in crops.
- Insider asked VCs to pick 15 agriculture startups that are set to take off over the next 12 months.
By 2050, there will be an expected 9.7 billion mouths to feed across the world. A growing population and the threat of climate change are forcing the agriculture industry to innovate.
That’s led to a boom in startups in areas specializing in everything from improving soil health to detecting crop disease and reducing food waste.
Healthy soil is essential for productive crops and a key tool in tackling carbon emissions, according to Pitchbook. The data firm identified irrigation, indoor farming, and agriculture biotech as potential solutions to the impact of climate change, while robots and better farm planning can help to reduce food waste.
Investment in agritech startups hit $5 billion in 2020, more than double the $2.5 billion pumped in during 2019, according to a report from Finistere Ventures.
Insider spoke with venture capitalists in Europe to find out which agriculture tech startups are poised to take off in the next 12 months.
Each investor was asked to name two startups, one from their firm’s portfolio and one they haven’t invested in.