US Agricultural Technology Startup Market
To understand the market size of the US agricultural technology (AgTech) market, specifically focused on those companies that have received Series B funding, as well as a list of top companies, including their funding amounts and focus areas.
Agriculture Technology Startups Market
- The Finistere Ventures 2018 AgTech Investment Review says that $1.6 billion was invested across 209 global deals in 2018, as of the end of the third quarter, on pace to match 2017's $1.9 billion in funding.
- The United States accounted for about 60% of all deals and about 85% of the funding dollars, estimating from graphs provided in the report.
- A report by Alpha Brown puts the United States AgTech market at $10.2 billion, estimated from the annual agtech budgets of US farmers.
- Fully 80% of farmers in the United States invest in agtech, with most investing less than $5,000.
- The crop management & inputs management (CPIM) subvertical has the largest median deal size at $25.2 million and the largest total funding at $576.6 million, but indoor ag had the most deals at 29
- Market drivers include shifts in consumer preferences, healthy exit volumes, and collaboration between venture and agriculture corporations.
- Subsectors seeing the most investment include crop protection & inputs management (CPIM) and precision ag & analytics.
- Some top AgTech companies receiving Series B funding in 2017-2018 (and the subsector they are in) included SoundX ($15.3 million — plant sciences), Concentric ($64.3 million — CPIM), Conservs ($30.7 million — precision ag), Ceres Imaging ($35.4 million — imaging), Satellogic ($49 million — imaging), Taranis ($29.5 million — imaging), Prospera ($22million — imaging), Phytech ($14 million — sensors and smart farm equipment), Ecorobotix ($13.6 million — sensors and smart farm), Stellapps ($14.2 million — animal technologies), Inari ($43 million — plant sciences), CiBO ($38.2 million — precision ag), Farmobile ($25.6 million — precision ag), Dice ($94.5 million - CPIM), Pivot Bio ($86.8 million — CPIM), CropOne ($18.3 million — indoor ag), Back to the Roots ($18.1 million — indoor ag), and DFS168 ($29 million — ag marketplace & fintech).
- A 2019 article at Successful Farming notes eight top agtech startups, based in the United States, including Farmop Capital (Minnesota), Trace Genomics (California), Earthsense (Illinois), Solinftec (Indiana), Understory (Wisconsin), Telesense (California), American Robotics (Massachusetts), and Pivot Bio (California).
AgriFood Tech Startups Market
Proposed next steps:
You need to be the project owner to select a next step.