India Top-Funded For Agrifood Tech Investment In 2024

New Delhi: India was the top-funded developing market in 2024, posting spectacular growth of 215 per cent in dollar funding and 27 per cent in deal count, according to a report.

The report by Omnivore, in collaboration with AgFunder, a global investment platform, showed that investment increased in five of the top 10 countries in 2024.

India topped with investments in the agrifood tech startups jumping over 3-fold to $2.5 billion last year. It was followed by Singapore $172m (+3 per cent), Mexico $97m (+250 per cent), Vietnam $87m (+350 per cent), and Chile $58m (+33 per cent), noted the report.

The rise in investments is driven by funds raised by quick commerce company Zepto.

Zepto was 2024's best-funded agrifoodtech company globally, raising nearly $1.4 billion across three late-stage deals, the report said.

"Top rounds for India in 2024 highlight continued investment into eGrocery and restaurant-related startups, which are well-suited to the country given its dense urban settings and high population. Midstream Technologies has also been a high-performing category for India agrifood tech investment," the report said.

According to a statement, agrifood tech investment in developing markets reached $3.7 billion in 2024, up 63 per cent from 2023 and accounting for 23 per cent of global investment.