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1、Asia-PacificAgriFoodTechInvestment Report Contents3 Introduction4 About us5 AgFunder 6 Key insights8 2024 Investment highlights14 2024 Investment trends18 Agrifoodtech categories in-depth23 Investments by geography 29 Investments by stage32 Startups in focus37 Appendix40 ContactASIA-PACIFIC AGRIFOOD

2、TECH INVESTMENT REPORT 202402Asia-Pacificagrifoodtechinvesting in 2024Agrifoodtech funding in Asia Pacific(APAC)has demonstrated a remarkable recovery in 2024.As of the end of October,APAC agrifoodtech startups have raised$4.2 billion in funding,accounting for 31%of global agrifoodtech funding year-

3、to-date.This represents a notable increase from APACs 26%average share of global agrifoodtech funding over the past 10 years.It also represents a 38%increase on the$3.1 billion raised by APAC companies during the same period in 2023.This is seen most noticeably in the sub-region of South Asia(includ

4、ing India,Pakistan and Bangladesh)where investment is up nearly 2.5x from the previous year.In 2024 so far,India has reclaimed its position from China as the best-funded agrifoodtech market,taking close to half of APACs total funding with$2 billion in investment.But this does include over$1 billion

5、for just one late-stage Indian company,eGrocer Zepto.China is in second place with$1.5 billion and 230 deals;while more notably Japan and Singapore rose in the ranks,bumping Indonesia down to fifth place.Unlike previous years which saw a more pronounced investment skew between upstream and downstrea

6、m innovations,funding this year is largely balanced,with both ends of the value chain attracting roughly equal amounts.eGrocery stands out as the top-funded category,thanks in no small part to Zeptos contributionl.Ag Biotech,Midstream Technologies(including deals in the supply chain transformation s

7、pace),and Bioenergy&Biomaterials were also in the top five,notably alongside Ag Marketplaces&Fintech,which has seen a 36%increase in year-to-date funding following two precipitous down-years from the 2021 peak.We are grateful to our partners AgriFutures Australia and Omnivore for their support,as we

8、ll as data partners Beyond Next Ventures in Japan,Bits x Bites in China,and Sopoong Ventures in Korea,without whom it would not be possible to produce this report.John Friedman and the AgFunder teamASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202403About usAgFunder is one of the worlds most active fo

9、odtech and agtech VCs.Were rethinking venture capital for the 21st century.Born in Silicon Valley in 2013,we use technology,media and our global network to invest in and support transformational founders and technologies.With the worlds only global agrifoodtech investment portfolio,weve invested in

10、more than 100 companies across six continents.AgFunderNews reports on the evolution of the global food and agriculture system.By going beyond the headlines,we analyze the people,companies and technologies aiming to improve human and planetary health.Publishing daily news,our team of award-winning jo

11、urnalists delivers deeper insight on the growing foodtech,agtech and climate tech industries.A multimedia publication,AgFunderNews is a division of AgFunder Inc,one of the worlds most active agrifoodtech venture capital firms.Omnivore is an impact venture capital firm that supports visionary founder

12、s advancing agrifood innovation,climate action,and rural transformation.Over the past decade,Omnivore pioneered agritech and climate-smart venture investing in India,and currently manages USD 295 million across two active venture funds.AgriFutures growAG.is the platform for Australian and global agr

13、ifood innovation.Explore,find and connect with world leading agricultural research,unique technologies and commercialisation opportunities online in one,easy to use AgriFutures evokeAG.is a global agrifood tech event.It brings together investors,entrepreneurs,farmers,government,researchers and corpo

14、rates for a more resilient,productive,and profitable agricultural sector and value chain.Join us in Brisbane,Australia on 18-19 February ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202404AgFunder is a pioneer in agrifoodtech;a venture capital and intelligence platform with a history of supporting en

15、trepreneurs long before food and agriculture became a topic on investors agendas.With a portfolio spanning more than 100 companies across six continents,and over$300 million in assets under management,AgFunder has the worlds only truly global agrifoodtech investment portfolio.AgFunder has invested i

16、n world-leading deep tech startups that tackle important themes such as automation,carbon markets,food as medicine,sustainability,green ammonia,and more.These investments include no-code self-driving labs company Atinary,which is accelerating chemistry research by 100 x,food-as-medicine discovery pl

17、atforms Brightseed and Faeth Therapeutics;fast-growing marketplaces serving millions of farmers and consumers in emerging economies,DeHaat and Jsto;autonomous farming company Bear Flag Robotics;animal-free leather producer MycoWorks;and green ammonia producer Nium.One of the keys to AgFunders succes

18、s is its media and research arm,AgFunderNews,which has become the global epicenter for agrifood technology intelligence with subscribers from top stakeholders across the landscape.Together with GAIA,AgFunders database and proprietary machine learning platform,the firm has developed a unique ability

19、to source deals,expertise,investors,networks,and information for its portfolio companies and LPs.AgFunder focuses on supporting the best entrepreneurs and companies,regardless of their geographical location.With roughly 50%of its companies based in the US,a track record of successful exits,and a glo

20、bal network,AgFunder has established itself as the go-to partner for investors seeking global exposure to the agrifoodtech sector.2024 marks AgFunders fifth year in Asia,having incorporated our Singapore office in 2019 and launched the GROW Accelerator Southeast Asias first specialist agrifoodtech a

21、ccelerator program.In 2022 we raised our first fund with a mandate to invest specifically in startups operating in the region,or with solutions relevant to it.To date,across our funds,AgFunder has invested in 34 companies,or 23%of our investment portfolio,placing Asia-Pacific second only to North Am

22、erica in terms of regional exposure.AgFunderAgFunder“AgFunders media,research and engineering arms support the firms unique ability to source deals,expertise,networks,investors and intelligence for its portfolio and LPs.”ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202405Key insightsAsia-Pacific agri

23、foodtech startups have raised$4.2 billion so far in 2024(to the end of October),a 38%increase on the same period in 2023.This marks a significant recovery from 2023 when they raised a total$3.4bn,down 52%on 2022s$7.1 billion.Asia-Pacific agrifoodtech now accounts for 31%of global agrifoodtech fundin

24、g in 2024 so far,up from the 10-year average of 26%.India,with$2 billion in funding,has reclaimed the top spot from China,which raised$1.5 billion.The sub-region of South Asia(including India,Pakistan and Bangladesh)is already up over 100%from FY 2023.$1.5 billion raised by eGrocery place it at the

25、top of all agrifoodtech categories for 2024 so far.The result largely due to$1 billion in funding for Indias Zepto.Bioenergy and Biomaterials is the biggest upstream category in 2024,raising$475 million,albeit with a 46%year-over-year decrease.India-based eGrocery startup Zepto has raised over$1 bil

26、lion across two late-stage rounds in 2024.Midstream Technologies startups have raised$578 million so far in 2024,a 88%year-over-year increase.Innovative Foods has recovered somewhat in 2024,raising$204 million so far this year,an 85%increase on the same period in 2023,and with 59 deals vs 49.Ag Biot

27、ech posted a 30%YoY gain to$459 million across 86%more deals(67).Farm Management Software and Farm Robotics are down 46%and 45%,respectively versus this time a year ago.Novel Farming Systems posted a modest increase in funding to date,currently on$76 million across 25 deals versus$64 million and 29

28、deals in 2023 over the same period.Deals at Series A,Series C and later have both increased in size as well as number,while more Series B deals have closed but for smaller amounts.Seed stage deals appear to be getting bigger as funding totals have grown 13%against fewer deals.ASIA-PACIFIC AGRIFOODTE

29、CH INVESTMENT REPORT 202406BIGGEST UPSTREAM CATEGORYBioenergy&Biomaterials$475 MILLION*FUNDINGBIGGEST MIDSTREAM DEALINDIASHaber$299 MILLION FUNDINGAI-driven automation to maximize plant efficiency&outputKey Insights in 2024*TOTAL APAC AGRIFOODTECHINVESTMENTS IN 2024$4.2 billionFUNDINGBIGGEST DOWNSTR

30、EAM CATEGORYeGrocery$1.5 BILLION*FUNDINGBIGGEST DEAL OF 2024INDIASZepto$665 MILLION FUNDINGeGROCER*as of October 31,2024ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 2024072024InvestmenthighlightsASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202408Total funding$USD billion2014201520162017201820222023202

31、4202120202019 Asia-Pacific agrifoodtech investment by year03691215$2.4B$3.2B$2.2B$2.5B$6.9B$4.6B$7.6B$7.1B$14.1B$4.2B$3.4B10 years ofagrifoodtechin Asia-Pacific$4.2 billion raised in Asia-Pacific in 2024 so far*Asia-Pacific represented 31%of global funding in 2024 so far$3.4 billion raised In Asia-P

32、acific in 2023$16.9 billion raised globally in 2023$54.1 billion raised in Asia-Pacific 2014-20232024*agrifoodtechglobal funding vs Asia-Pacific Asia-Pacific Global%of global agrifoodtech VC31%*as of October 31,2024ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202409Country$USDTop deals in 2024Country

33、RaisedCompanies FundedStage$665mZeptoeGROCERYLATE$340mZepto eGROCERYLATE$299m SaelBIOENERGY AND BIOMATERIALSDEBT$169m Serata MoyunMIDSTREAM TECHNOLOGIESSERIES A$232mLATE 史记生物AG BIOTECHNOLOGYDeal countIndia$2B12345678910158China$1.5B 230Japan$280M 93Singapore$158M 14Indonesia$112M 20South Korea$41M 4

34、1Australia$52M 36New Zealand$18M 5Bangladesh$13M 4Vietnam$9M4$2B158DEALS$1.5B230DEALS$280M93DEALS$158M14DEALS$112M20DEALS$52M36DEALS$41M41DEALS$18M5DEALS$13M4DEALS$9M4DEALSJAPANVIETNAMCHINAINDIAINDONESIASINGAPOREBANGLADASHAUSTRALIANEW ZEALANDSOUTH KOREAAsia-Pacific2024 so far*$4.2 billion total fund

35、ing in Asia-Pacific in 2024442 deals H1 Asia-PacificIndias agrifoodtech sector has recovered significantly so far this year,raising nearly 2x more than during the same period last year and overtaking China as the most active APAC country.The country accounts for some 48%of total investment in the re

36、gion.While eGrocer Zepto raised$1 billion,the total number of deals is already 46%more than during the whole of 2023 signifying more activity broadly,albeit at smaller deal sizes overall.Chinas agrifoodtech market has already recovered somewhat 18%year-over-year despite its drop to second place.Japa

37、n is an impressive mover,climbing three spots to third place with a 58%increase in funding year-over-year.The top 3 countries jointly accounted for 90%off all funding in APAC.*as of October 31,2024ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202410Investmentby countryTop countries 2023($USD)616 deals

38、 across Asia-Pacific in 2023$3.4 billion raised in Asia-Pacific in 2023564 unique Asia-Pacific companies that received funding in 2023Last year in 2023,agrifoodtech investment in APAC declined 52%overall to$3.4 billion.China was the leader,accounting for 41%of all funding in the region,albeit with a

39、 6%year-over-year decline in total funding.India was a more dramatic 73%down year-over-year.Indonesia,third in the ranking,was also down 60%in total investment.On the other hand Japan,with an impressive 95%year-over-year increase,was the only top 10 country bucking the downturn that year,a trend tha

40、ts clearly continued into 2024.Country$USDDeal countChina$1.4B12345678910108India$815M 123Indonesia$287M 27Australia$253M 85South Korea$193M 70Singapore$166M 49Japan$185M 117New Zealand$53M 6Bangladesh$36M 7Vietnam$19M6 JAPANVIETNAMCHINAINDIAINDONESIASINGAPOREBANGLADASHAUSTRALIANEW ZEALANDSOUTH KORE

41、A$185MILLION$193MILLION$287MILLION$1.4 BILLION$815MILLION$36MILLION$166MILLION$253MILLION$19MILLION$53MILLIONASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202411Total funding$USD billion036912152024*2020202220232021$2.4B304DEALS$7.6B599DEALS$8.6B320DEALS$14.1B722DEALS$5.1B400DEALS$7.1B685DEALS$2B336DE

42、ALS$3.4B616DEALS$2.7B442DEALS$4.2B616DEALSAsia-Pacific2024 so far*After two years of funding declines,APAC agrifoodtech seems to be picking up again.Funding in H1 2024 was up 37%over the same period last year,with a 32%increase in the number of deals.And even though the year is not over yet,2024 to

43、date has already reached the same deal count as the full year 2023 with 23%more funding.*as of October 31,2024Investment by H1 vs FYASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202412H1FY0123452020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q12022Q22022Q32022Q42023Q12023Q22023Q32023Q42024Q12024Q2

44、2024*Q3Total funding$USD billion$630M160DEALS$2.6B149DEALS$2.5B146DEALS$1.8B144DEALS$3.7B212DEALS$1.1B145DEALS$1B140DEALS$1.4B188DEALS$1.3B231DEALS$1.3B145DEALS$1.4B211DEALS$4.8B166DEALS$3.8B154DEALS$2.6B191DEALS$2.9B211DEALS$1.2B171DEALS$814M165DEALS$955M152DEALS$503M128DEALSAsia-Pacific2024 so far

45、*Venture capital investment levels in 2020 are typically seen as the reversion to the mean after two years of inflated levels of deal activity and startup valuations.While APAC agrifoodtech is recovering in 2024,its still below 2020 levels in terms of dollar funding.However deal activity is markedly

46、 up indicating increased deal activity,even if deals are smaller.Even if Q3 is the weakest quarter in 2024 so far,it still showed a 33%year-over-year increase in funding despite a 5%decrease in deal count.*as of October 31,2024ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202413Funding by quarter2024I

47、nvestmenttrendsASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202414Investmentsby supply chain*Zeptos$1 billion in fundraising no doubt pushed downstream investment figures up,reversing the freefall of investment in agrifoodtech categories closer to the consumer.However a 31%increase in downstream deal

48、 count versus the whole of 2023 highlights increased activity overall.And while downstream categories have pushed marginally ahead of upstream in 2024 funding totals,upstream deals are more numerous,accounting for more than 50%of the total.Upstream deal activity declined across the board except in A

49、g Biotech where startups closed 86%more deals.Its unlikely upstream deal and funding activity will recover to represent 63%of the market as they did in 2023,however.*as of October 31,20240369121520142015201620172019202120182020202220232024*Total funding$USD billion$120M41DEALS$2.3B99DEALS$10M13DEALS

50、$217M63DEALS$2.9B242DEALS$133M30DEALS$381M93DEALS$1.6B211DEALS$262M39DEALS$337M125DEALS$2B219DEALS$176M36DEALS$1.8B179DEALS$4.3B290DEALS$773M70DEALS$721M223DEALS$3.3B286DEALS$641M96DEALS$1.4B257DEALS$5.5B248DEALS$631M94DEALS$3.2B341DEALS$3.3B236DEALS$664M108DEALS$2.2B367DEALS$848M157DEALS$419M92DEAL

51、S$1.8B320DEALS$1.9B205DEALS$525M91DEALS$2.6B322DEALS$10.3B305DEALS$1.3B95DEALSInvestment by supply chainUpstreamMidstreamDownstreamASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202415Investment by categoryZeptos$1 billion in fundraising no doubt pushed eGrocery totals up but the closing of significant

52、ly more deals(101 vs just 37 during the whole of 2023)highlights renewed enthusiasm for the category,especially in China where startups raised over$300 million.Upstream,biotechnologies have attracted the most investor interest,with a large deal for Indias SAEL boosting Bioenergy&Biomaterials funding

53、 totals,and pronounced Chinese activity in the Ag Biotech category driving over$390 million of funding to that category.The total for Bioenergy&Biomaterials was a 46%year-over-year decrease,however,while Ag Biotech posted a 30%YoY gain across 86%more deals.Elsewhere upstream,activity in farm tech ca

54、tegories Farm Management Software and Farm Robotics were both down 46%and 45%respectively versus this time a year ago.In more positive news:Innovative Foods has recovered somewhat in 2024,raising a 85%increase on the same period in 2023,and with 59 deals vs 49.Midstream Technologies also raised 88%m

55、ore year-over-year.*as of October 31,20240.00.30.60.91.21.5Home&CookingCloud Retail InfrastructureOnline Restaurants&MarketplacesIn-store Retail&Restaurant TecheGrocerMiscellaneousMidstream TechnologiesNovel Farming SystemsFarm Robotics,Mechanization&Other FarmingFarm Mgmt SW,Sensing&IoTAg Marketpla

56、ces&FintechAg BiotechnologyInnovative FoodBioenergy&Biomaterials$475M20DEALS$204M59DEALS$459M67DEALS$241M56DEALS$129M56DEALS$145M35DEALS$76M25DEALS$578M93DEALS$5M4DEALS$1.5B101DEALS$75M27DEALS$185M48DEALS$129M13DEALS$10M10DEALS2024*investment by categoryUpstreamMidstreamDownstreamASIA-PACIFIC AGRIFO

57、ODTECH INVESTMENT REPORT 202416Investments by category*Category-based investing has been volatile in recent years with the global venture capital downturns impacting some more than others.Hyped categories like Innovative Food and Novel Farming Systems have generally been the worst affected on the gl

58、obal stage,so its interesting to see Novel Farming in APAC has been more resilient and is likely to post a small increase in 2024.APAC is seen as a leader in both of these categories,particularly in Singapore where the government has supported them in search of improved national food security.The ca

59、pital-intensive nature of the Bioenergy&Biomaterials category means that some large deals can skew the totals,although the category did post an increase in deal activity in 2024,against less funding dollars.Midstream Technologies and Ag Biotech have also closed more deals so far in 2024 than in the

60、whole of 2023.*as of October 31,202400.51.01.520202021202220232024*Total funding$USD billionFunding for five chosen categoriesAg BiotechnologyBioenergy&BiomaterialsNovel Farming SystemsInnovative FoodMidstream TechnologiesASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202417Agrifoodtechcategoriesin dep

61、thASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202418Bioenergy&BiomaterialsTop deals in 2024 so far4CleanEdge Resources5Godavari Biorefineries2Spiber$65 millionLATE1SAEL$299 millionDEBT3GPS Renewables9Bygen10Biofics$1 millionSEED7BiofuelCircle$5 millionSERIES A$2 millionSERIES A$20 millionLATE$49 mil

62、lionDEBT$20 millionSERIES A8Great Wrap$5 millionSERIES A6Vertus Energy$9 millionSEEDLast years top APAC category is down 46%in total funding and 41%in deal count this year,with only 7 out of 20 deals occurring at seed stage.Among those was New Zealands Vertus Energy,a startup generating green fuel f

63、rom biowaste.ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202419Ag Marketplaces&FintechTop deals in 2024 so farThe category has shown a 98%increase in total funding over the same period last year,despite deal count increasing by only 5%.The$270 million raised in the year to date is close to the$295 m

64、illion raised in benchmark year 2020,suggesting signs of recovery.While India usually dominates this category,the top deal in 2024 came from Singapore-based commodity trading platform Valency International.4Agrim Wholesale5Samunnati2Captain Fresh$25 millionSERIES C1Valency International$50 millionDE

65、BT3Arya.org9BigHaat10QUL Fruits$7 millionSERIES A7Scimplify$10 millionSERIES A$8 millionSERIES C$16 millionDEBT$20 millionSERIES B$17 millionSERIES B8Samunnati$9 millionDEBT6Liangbaba$14 millionSERIES AASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202420Farm Robotics,Mechanization&Other Farm Equipment

66、Top deals in 2024 so far4Kalman Technology5IAS Analysis2Dhaksha$18 millionSERIES A1eFishery$30 millionDEBT3Aereo9Suzhou Jiufu Agricultural Machinery10NEWGREEN$4 millionSERIES B7Ecozen$8 millionDEBT$4 millionSERIES B$14 millionSEED$15 millionSERIES B$14 millionSERIES C8BALWAAN Agri$5 millionSERIES A6

67、Niqo Robotics$13 millionSERIES BDespite a 45%decrease in total funding,deal count was up 13%over the same period last year,with 15 out of 35 deals in 2024 being at seed stage,showing that interest in the category is still strong,although financing amounts were more conservative.Indonesian shrimp aqu

68、aculture mechanization company eFishery tops a list dominated by India and China.ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202421Investment by gender68%of companies have gender dataOut of 4,390 APAC companies in our all time records,about 68%have gender data relating to the composition of the foun

69、ding team.To date,only 98 of these 2,974 companies(3%)possess an all-female founding team,while 139 companies(5%)possess a mixed founding team.Male-only founding teams are 2737(92%).Female-only founding teams have raised 4 deals worth$5 million in the year so far,almost 3%of all funding across compa

70、nies with gender data.Gender-mixed team raised$75 million(6%)across 9 deals.*as of October 31,20244.7%139COMPANIES3.3%98COMPANIES92%2737COMPANIES6.1%9DEALS2.7%4DEALS91.2%135DEALS20142015201620172019202120182020202220232024Deal count%0.5%0.5%2.6%3.7%3.2%4.2%3.6%7.1%1.6%1%0%8.2%9.3%6%4.4%3.2%1.2%2.4%2

71、%0.8%4.6%0.8%91.3%90.2%91.5%91.9%93.6%94.6%94%90.9%97.6%94.4%99.1%020406080100Funding distribution by founding team genderAsia-Pacific companies by gender ratio as of 20242024*deal count in Asia-Pacific by genderASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202422Female-only founding teamGender-divers

72、e founding teamMale-only founding founding teamInvestmentsby geographyASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202423Asia-Pacific subregionsInvestment by subregion in 2024*The presence of massive countries with strong economies like India in South Asia and China in East Asia has the inevitable ef

73、fect of skewing regional data,as the two behemoths account for 84%of all APAC funding and 63%of deal count in 2024 so far.Thanks to India,South Asia funding increased 174%and deal activity was up 46%over the same period last year.East Asia also had a positive performance compared to the same period

74、in 2023,posting a growth in funding of 12%and a 44%increase in the number of deals.$287M46DEALS$71M41DEALSSOUTH ASIASOUTH ASIAEAST ASIAEAST ASIASOUTHEAST ASIASOUTHEAST ASIAAUSTRALIA AND NEW ZEALANDAUSTRALIA AND NEW ZEALAND1.7%6.8%47.3%47.9%$2B165DEALS$1.8B364DEALSAPAC funding by subregion since 2024

75、ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202424*as of October 31,2024Asia-Pacific subregionsIn East Asia,Japanese and South Korean startups raised an additional$321 million across 134 deals on top of Chinas$1.5 billion.Notable deals in the two countries include Japanese biomaterials startup Spibe

76、r,which raised$65 million,and South Korean cloud coffee provider BrownBag,which raised$5 million.Meanwhile in South Asia,Bangladesh and Pakistan contributed just seven deals worth almost$18 million to Indias$2 billion,with no deals recorded out of Bhutan,Nepal or Sri Lanka.Southeast Asia posted a po

77、or performance,accounting for less than 7%of all funding across APAC,declining 26%in total funding and 42%in deal count over the same period last year.Declines were even worse for Australia and New Zealand,with funding down 76%year-over-year and a 49%decline in deal count,reaching less than 2%of all

78、 APAC investment in 2024 to date.*as of October 31,2024Total funding in$USD billion20202021202220232024*012345678$245M57DEALS$1.8B177DEALS$4.8B224DEALS$750M141DEALS$429M74DEALS$4.0B262DEALS$7.7B219DEALS$1.9B167DEALS$324M50DEALS$3.1B247DEALS$2B165DEALS$2.2B219DEALS$1.5B169DEALS$287M46DEALS$307M91DEAL

79、S$71M41DEALS$858M134DEALS$1.8B297DEALS$1.8B364DEALS$485M94DEALSInvestment by subregionASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202425Australia and New ZealandEast AsiaSouth Asia Southeast Asia INDONESIAPHILIPPINESVIETNAMSINGAPOREMALAYSIATHAILAND$158M14DEALS$1.4M2DEALS$2M4DEALS$5M2DEALS$9M4DEALS$1

80、12M20DEALSTop deals in 2024*2Oatside$35 millionSERIES B3eFishery$30 millionDEBT4AwanTunai$28 millionSERIES B5UnaBiz$25 millionSERIES C1Valency International$50 millionDEBTSubregion spotlightSoutheast AsiaSoutheast Asia is often a focus point for impact investors in the region and seen as having dif-

81、ferent drivers to South Asia and East Asia,which are dominated by India and China,respectively.In Southeast Asia Midstream Tech,Ag Marketplaces,Innovative Food,Farm Robotics and Farm Management Software,Sensing&IoT have raised the most amount of funding in 2024 so far.Singapore has boosted much of t

82、his investment,accounting for 55%of investment in the region against a 44%share on average during the past 10 years.This years landscape was also dominated by large late-stage deals,as the three top rounds account-ed for 40%of all investment in the subregion.Malaysia,with four deals,twice as last ye

83、ar over the same period,posted an impressive 629%increase in funding.Ag Biotech startup UniFAHS and restaurant payment system Papaya are the only deals so far for Thailand,enough to post a 40%increase in funding over the same period last year.26Investment in Southeast Asia asia in 2024*as of October

84、 31,2024ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202420202021202220232024Total funding$USD million0100200300400500$333M57DEALS$407M29DEALS$95M20DEALS$185M117DEALS$280M93DEALS2dinii$52 millionSERIES B4TechMagic$17 millionSERIES C1Spiber$65 millionLATE3Peco Free$24 millionSERIES A5KOMPEITO$15 milli

85、onSERIES DTop deals in 2024*Country spotlightJapan27Japans venture capital industry is having a global awakening with reports of increased international venture investment in the country,despite a drop in local venture investing activity.According to data service Preqin,many international investors

86、believe the country presents a large unmet potential.The country has in fact strong academic and financial institutions,a long-standing culture of innovation and entrepreneurship,and the government substantially supports startups.A 58%increase in funding in 2024 so far continues the positive trend f

87、or funding in agrifoodtech which has grown steadily in the last three years,after the contraction that followed the boom of 2021.Japan is now the third-biggest agrifoodtech investment market,characterized by significant investments in Bioenergy and Biomaterials,Cloud Retail Infrastructure,and Farm M

88、anagement Software.Investment in Japan since 2020*as of October 31,2024ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 2024Country spotlightAustraliaAustralia has not been immune to the recent downturn,posting a 78%decline in funding year-over-year across a 51%decrease in deal count.In 2024 so far,the c

89、ountry accounts for 1.2%of all APAC funding,exactly half the 2.4%average of the previous 10 years.Farm Management Software,Sensing&IoT is the countrys best-performing category so far this year,raising$22 million across nine deals,including those for AgriWebb and ExoFlare.In some good news,the majori

90、ty of the deals that have closed 20 out of the total 36 have been at the seed stage,indicating renewed activity.Number 8 Bio,an ag biotech company focusing on cow-feed additives for methane abatement,raised the largest seed round at$5 million.2820202021202220232024Total funding$USD million0501001502

91、00250300350400$202M47DEALS$385M61DEALS$254M34DEALS$253M85DEALS$52M36DEALS2Great Wrap$5 millionSERIES A4ATEC$4 millionSERIES A1AgriWebb$7 millionSERIES C3Number 8 bio$5 millionSEED5ExoFlare$4 millionSEEDTop deals in 2024*Investment in Australia since 2020*as of October 31,2024ASIA-PACIFIC AGRIFOODTEC

92、H INVESTMENT REPORT 2024Investmentsby stage29ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 2024Investmentsby stageFunding by stage 2020-2024 Seed deals accounted for 43%of the total deal count in the year to date,with a 13%rise in funding total despite a 13%drop in deal count over the same period last

93、 year.Series A rounds raised almost 52%more capital and 90%more deals than over the same period last year.An even more impressive growth was achieved by late-stage rounds,which posted a a 133%increase with a count of 44 deals,more than double the 17 recorder last year over the same period.APAC fundi

94、ng by stage since 2020ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202430Total funding in$USD billion202020212022202320240123456$787M108DEALS$342M371DEALS$947M52DEALS$794M106DEALS$3.1B26DEALS$2B18DEALS$4.4M5DEALS$5.5B16DEALS$476M10DEALS$383M21DEALS$524M419DEALS$1.8B76DEALS$1.2B122DEALS$938M28DEALS$4B

95、34DEALS$227M27DEALS$316M359DEALS$566M48DEALS$298M20DEALS$374M23DEALS$812M398DEALS$1.6B60DEALS$1.4B134DEALS$1.1B32DEALS$1.4B16DEALS$321M35DEALS$310M265DEALS$960M171DEALS$1.6B44DEALS$571M30DEALS$372M10DEALS$733M21DEALS$378M51DEALS$322M40DEALS$89M7DEALSSeedABCLateDDebtInvestmentsby stageTop 5 deals by

96、stage for 2024 These are the startups raising the top rounds in the year to date,grouped by funding stage.Seed1Bada Supply Chain$30 million Midstream Technologies2巴巴巴巴巴Greenon Biotech$14 million Ag Biotechnology3IAS Analysis$14 million Farm Robotics,Mechani-zation&Other Farm Eq4Kangkanda$11 million

97、eGrocer5Vertus Energy$9 million Bioenergy&BiomaterialsA1SERATA MOYUN$169 million Midstream Technologies2巴巴巴巴Chia Tai Egg Industry$70 million Novel Farming Systems3巴巴巴巴Xuyang Zhengben$42 million eGrocer4巴巴巴巴Nafei Health$28 million eGrocer5Peco Free$24 million Online Restaurants&MarketplacesB1dinii$52

98、 million Cloud Retail Infrastructure2巴巴巴巴巴Cili Kongfu$42 million Online Restaurants&Marketplaces3Nowwa$42 million Online Restaurants&Marketplaces4Oatside$35 million Innovative Food5AwanTunai$28 million Midstream TechnologiesC1MoonBiotech$42 million Ag Biotechnology2Haber$38 million Midstream Technol

99、ogies3Stellapps$26 million Midstream Technologies4UnaBiz$25 million Midstream Technologies5Captain Fresh$25 million Ag Marketplaces&FintechLate1Zepto$665 million eGrocer2Zepto$340 million eGrocer3巴巴巴巴Scigene$232 million Ag Biotechnology4巴巴巴巴巴Suning Retail Cloud$67 million eGrocer5Spiber$65 million B

100、ioenergy&BiomaterialsDebt1SAEL$299M Bioenergy&Biomaterials2Valency International$50M Ag Marketplaces&Fintech3GPS Renewables$49M Bioenergy&Biomaterials4eFishery$30M Farm Robotics,Mechani-zation&Other Farm Eq5Country Delight$24M eGrocerD1Arya.ag$29 million Ag Marketplaces&Fintech2Curefoods$24 million

101、Cloud Retail Infrastructure3KOMPEITO$15 million Innovative Food4巴巴巴巴We care Bio$14 million Ag Biotechnology5Office de Yasai$7 million eGrocerASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202431Startupsin focus32ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 2024Startup spotlightNiqo RNiqo Robotics is a c

102、limate-smart deep-tech agriculture company headquartered in Bangalore,India.Niqos mission is to transform agrochemical spraying with its innovative AI-powered spot-spray technology.By promoting the adoption of sustainable spot spraying,Niqo aims to empower all stakeholders in the farming ecosystem,e

103、nhancing profits and prosperity.How would you describe the Indian agrifoodtech ecosystem today?How has it changed in recent years with regards to the amount of resources or investors available to you?The Indian agrifoodtech ecosystem today is defined by the sheer range of diverse companies and innov

104、ations across the value chain.An encouraging shift in recent years has been the growing focus on the agri-inputs sector,alongside a surge in investor interest in hardware and deep-tech innovation.Another notable trend is the reversal of the conventional flow of cutting-edge technology from the West

105、to the East.Companies like Niqo are rewriting this narrative,demonstrating that pioneering solutions can be born in India and bubble up globally.Our success in commercializing spot spray technology in India before launching it in North America is a good example of this.What agrifood challenges is Ni

106、qo Robotics trying to solve?How did the business come to be?Niqo focuses on addressing challenges in the crop care input sector,particularly in agrochemical spraying.Traditional practices are wasteful,costly,chemical-intensive,and harmful to the environment.Niqos AI-powered spot-spray technology lev

107、erages computer vision and advanced AI to precisely target only the plants that need treatment.This approach reduces chemical costs by up to 60%,delivering immediate ROI for farmers while minimizing the environmental impact of unsustainable chemical use.The idea for Niqo first took root with Founder

108、 and CEO Jaisimha Rao while working on his familys coffee farm.He observed that many farming tasks were being done using traditional methods,which had inherent limitations for scaling,then zeroed in on the harmful practice of blanket spraying as a challenge to solve to secure the global food future.

109、What do the next 5 years look like for you and your business?Niqo is currently the leader in Asia for commercializing spot-spray technology,having covered 120,000 acres and deployed 50 units.Over 2,000 farmers in India have benefited from transitioning to Niqos spot spray solution,moving away from t

110、raditional spraying methods.Our India-first approach has paved the way for scaling this technology globally across various use cases and we recently launched our first product for the North America market which does spot spraying for lettuce.Niqos ultimate goal is to make spot spraying the global st

111、andard.“Companies like Niqo are rewriting this narrative,demonstrating that pioneering solutions can be born in India and bubble up globally.”ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202433Startup spotlightWollemAIWollemAI delivers the worlds most precise land and agriculture climate analytics fo

112、r financial institutions,insurers,large companies and Governments.The Australian startup integrates billions of data points for trusted,compliant emissions reporting and tracking;climate change forecasting and management,and detailed reporting from the hyper-local level right through to entire suppl

113、y chains.How would you describe the Australian agrifoodtech ecosystem today?How has it changed in recent years with regards to the amount of resources or investors available to you?Agrifood as an investment sector is still quite nascent,which is surprising because agriculture is obviously fundamenta

114、l to our survival.That said,there has been progress.There are a number of targeted accelerators,and funds like Cultiv8 Funds Management have opened to invest specifically in this sector,and the government is investing via AgriFutures growAG.Agriculture has been called out as a focus area for climate

115、 change and regulations in this area are developing at pace,so there are increasing tailwinds for the space.In terms of resources whats interesting is the creative ways people applying existing technologies to agrifood problems.We have taken AI and applied it differently,but there are examples from

116、across the technology spectrum from robotics to digital assets to microbiology,and thats very exciting.What agrifood challenges is Wollem AI trying to solve?How did the business come to be?There is a growing scrutiny on the food system and its contribution to climate change.With that has come a reco

117、gnition that actually,its very difficult to accurately measure the emissions,and forecast climate change impacts at an individual farm level.The three WollemAI co-founders met serendipitously at a time when we were looking at the same problem through a different lens:financial risk modeling,sustaina

118、bility frameworks and AI and ML.What do the next 5 years look like for you and your business?We are scaling well here in Australia and our next step will be Southeast Asia,we have some early talks with institutions in Singapore now.We are doing a small pre-Series A raise to help us build out the res

119、ources to deliver to current customer demand.Next year we will be looking to the US market,and will undergo a Series A in early 2026.By 2030 we hope to be the vendor of choice for institutions and corporations globally to measure,report on and manage climate risk across emissions,transition and phys

120、ical risk.“Agriculture has been called out as a focus area for climate change and regulations in this area are developing at pace,so there are increasing tailwinds for the space.”ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202434Startup spotlightOlsAroOlsaro is an Ag Biotech company developing salt-

121、tolerant crops by teaming up with seed companies for trait discovery and development,and employing a proprietary tech platform to shorten the timeline for development of new traits.What is the Asia-Pacific agrifoodtech ecosystem like to work in?Any core challenges you think are specific to the regio

122、n?We are a Swedish-based company working to tackle climate change by developing climate-adapted crops,with a first-focus on Asia.We noticed that investor interest increased also in Europe towards future-proofing the agrifoodtech ecosystem by investing in innovations and targeting the large global ch

123、allenges of climate change,and part of it is including solutions for the Asia-Pacific market.Whats your goal for the next five years?During the coming five years we are aiming at making an impact on food security and resilience in climate change-affected areas such as Bangladesh,India,Pakistan,Austr

124、alia and Brazil.Tackling the challenge of soil salinity can also provide a solution for heat and drought-affected areas globally.We will also expand our initial focus on wheat to additional crops for trait development.If you could start again,are there any major changes youd make to the way you buil

125、t the company?Good question!To begin with I think we were lucky to start with a focus on wheat as it is one of the largest crops globally.But as a general reflection,I would really put emphasis on the importance of early collaborations with customers,and taking part in relevant networks for local ma

126、rket knowledge,even more so when the target markets are not your“home market.”What are the main challenges you see in the Asia-Pacific food system today?Extreme weather in the Asia-Pacific,such as intense storms,floods,and droughts,causing largescale disruption in food production in already vulnerab

127、le communities.As an example,saline soils are found in 20%of cultivated land globally and this limits crop yields,creating a need for technologies that can support food security and resilience and can make otherwise unfarmed land farmable again.“During the coming five years we are looking to make an

128、 impact on food security and resilience in climate change affected areas.”ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202435Startup spotlightVertical Oceans Vertical Oceans produces farm-to-fork shrimps in vertical aqua towers for major urban markets,using no chemicals or antibiotics and producing n

129、o effluent.Its technology relies on a self-sustaining,self-cleaning modular production system maintaining a unique aquatic ecosystem by using fish and seaweed as a biofiltration.This results in shrimps with great taste and excellent sustainability credentials.What is the Asia-Pacific agrifoodtech ec

130、osystem like to work in?Any core challenges you think are specific to asia?Asia grows different foods,distributed through different value chains,with different challenges than those that prevail in the West.So the winners in Asia-Pacific agrifoodtech are mostly Asian solutions for Asian problems.Ver

131、tical Oceans went through the Silicon Valley accelerator IndieBio,creating a bridge between our base in Singapore and global investors supporting our global business model and ambitions.Starting in Silicon Valley has huge advantages,especially when it comes to fundraising,but it would have cost twic

132、e as much to develop our technology there rather than in Singapore.Whats your goal for the next five years?In five years,Vertical Oceans will have expanded across key urban centers in the US,Europe,and North Asia,establishing 18 new facilities to support our mission.Our technology was designed for s

133、calability,which makes that ambition realistic.And,were innovating on multiple fronts.This includes broadening our scope to new applications and species,evolving our core technology to integrate seamlessly across diverse biological production systems.If you could start again,are there any major chan

134、ges youd make to the way you built the company?I wouldnt change a thing about how we built Vertical Oceans.The challenges we encountered were essen-tial,leading to pivotal breakthroughs that wouldnt have occurred otherwise.Each obstacle played a part in shaping our resilience and innovation.What are

135、 the main challenges you see in the Asia-Pacific food system today?The impacts of climate change in Asia are profound,with clear signs from early cherry blossoms in Japan to unpredictable rainy seasons in Southeast Asia disrupting traditional patterns.These shifts critically affect food production.F

136、or example in sectors like coastal shrimp aquaculture,where warmer ocean temperatures exacerbate recurring challenges.Asias food system also grapples with structural challenges.Many farms are small and unable to adapt quickly to the slow but steady shifts in climate.This struggle is compounded by ge

137、nerational shifts,as younger people are increasingly unwilling to enter farming.In places like Japan,where the average farmer is 69,the problem is acute and without solution.Asias food system is approaching an inflection point which increasingly looks like an existential threat.Its an Asian problem

138、that needs an Asian solution.verticaloceans.blue“The winners in Asia-Pacific agrifoodtech are mostly Asian solutions for Asian problems.”ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202436Appendix37ASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 2024Midstream TechnologiesFood safety&traceability tech,log

139、istics&transport,processing techMiscellaneousAll other agrifood-related techIn-Store Retail&Restaurant TechShelf-stacking robots,3D food printers,payment systems,food waste monitoring IoTeGroceryOnline stores+marketplaces for sale and delivery of processed and unprocessed ag products to consumerHome

140、&Cooking TechSmart kitchen appliances,nutrition technologies,food testing devices&home grow kitsOnline Restaurants and Meal MarketplacesOnline tech platforms delivering prepared food and meal kits from a wide range of vendorsCloud Retail InfrastructureOn-demand enabling tech,ghost kitchens,last-mile

141、 delivery robots&servicesAg Biotechnology On-farm inputs for crop&animal ag including genetics,microbiome,breeding,animal healthAgribusiness Marketplaces&FintechCommodities trading platforms,online input procurement,equipment leasing,farmer fintechBioenergy&BiomaterialsNon-food extraction&processing

142、,feedstock technology,cannabis pharmaceuticalsFarm Management Software,Sensing&IoTAg data capturing devices,decision support software,big data analyticsFarm Robotics,Mechanization&EquipmentOn-farm machinery,automation,drone manufacturers,grow equipmentNovel Farming SystemsIndoor farms,aquaculture,in

143、sect&algae productionInnovative FoodCultured meat,novel ingredients,plant-based proteinsAgrifoodtechcategorydefinitionsUpstreamMidstreamDownstreamASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202438Sources&methodologyData Sources&CurationUtilizing new advanced machine-learning algorithms and artificia

144、l intelligence to help identify and categorize agrifoodtech startups,our knowledge base has grown to more than 30,000 companies,with new startups and historical data being added each day.The raw data for our reports comes from Crunchbase,which gathers publicly-available information such as press rel

145、eases and US Securities and Exchange Commission filings,as well as crowdsourcing directly from our local data partners;in this case,Asia Pacific:The Big Deal and Briter Bridges.AgFunder contributes data from its own collection methods,including private communications with investors and companies.We

146、also collect data from partners across the globe to ensure we have the most comprehensive,accurate and curated dataset and knowledge base of agrifoodtech companies and investments.The raw data is painstakingly curated by the AgFunder team,along with their data partners,to ensure they are relevant,ac

147、curate,up-to-date,and categorized according to AgFunders proprietary tagging system.We update and improve our dataset continuously throughout the year,meaning total figures fromprevious years reports will shift as our dataset becomes more complete.In 2022,we tightened our definitions of what constit

148、utes an agrifoodtech venture to ensure that the emphasis on food and agriculture is core to the business.Thats had a recalibrating effect on this years investment figures as well as some past data.Examples include logistics,drones,cloud and any other tech services that may have started in agrifood b

149、ut have since added other sectors or pivoted away from agrifood.Weve maintained historical rounds that were raised on an agrifood focus,where we could.While we are happy to share our findings,we reserve all rights with respect to AgFunder research and this report and we require it to be fully and ac

150、curately cited when any of the data,charts,or commentary are used.Undisclosed FinancingsOf the 4.731 financing rounds in this reports curated dataset,1709 were undisclosed and could not be determined through research or direct sources.We exclude undisclosed financings when computing averages and med

151、ian values.In some cases,were able to confidentially obtain financing figures directly from investors on the condition theyre only included in aggregate.Multiple FinancingsIn some cases,Crunchbase displays multiple financings for the same company in the same year.This can be because a company closes

152、 subsequent rounds in the same year,but it can also be the result of several closes of the same round.We keep them separate unless they are announced as one single round.CategorizationAgFunders categorization system is designed to capture broad themes across the complex agrifoodtech value chain.The

153、agrifood sector has a wide supply chain spanning inputs and industrials,farming,logistics,wholesale distribution,processing,retail distribution,and the consumer.In many cases,technologies such as marketplaces connect different links in the supply chain and so in this report weve chosen to focus on h

154、igh-level themes.To assist with the categorization and to avoid subjectivity,AgFunder first employs over 150 machine learning and artificial intelligence models to suggest category placement and to help tag the company according to the technology and its place in the supply chain.Finally,the AgFunde

155、r team manually reviews the suggestions for each company,often with significant research and debate among our team.Starting with our 2023 Global Agrifoodtech Investment Report,we combined Agribusiness Marketplaces and Fintech into one category as there is often overlap between the two.We maintained

156、any fintech tools for retailers or restaurants within the Retail Tech category.Given the reduction in funding to food delivery services,we have also now combined Online Restaurants&Meal Kits and Restaurant Marketplaces into one category.Weve also taken taken a stricter stance on cannabis and CBD-rel

157、ated startups;there needs to be clear proprietary technology involved.We will not include pure consumer packaged goods or pure production,as we wouldnt include pure production in any other crop.If we believe the growing facilities are particularly high tech or utilize proprietary technology,we will

158、still include it in our Novel Farming Systems category.The same goes for processed products;if the extraction technique is particularly innovative,well include it as a Biomaterials or Midstream Tech startup.Large vertically-integrated cannabis companies are also excluded.Special AcknowledgementTim L

159、i and the rest of the Crunchbase team for their continued support and assistance.And to to all our data partners,listed below,for their contribution to making this the most complete agrifoodtech dataset in the region and globally.Image CreditsCover Stock image;p2 Agrim;p3 Arya;p5 AgFunder;p6 OlsAro;

160、p8 Arya;p14 Agrim;p18 Arya;p19 OlsAro;p20 Arya;p21 Tepbac;p23 Wollem.AI;p26 OlsAro;p27 LYRO;p28 Stock image;p29 DeHaat;p32 OlsAro;p33 Niqo Robotics;p34 Wollem.AI;p35 OlsAro;p36 Vertical Oceans;p37 AgrimDATA POWERED BYASIA-PACIFIC AGRIFOODTECH INVESTMENT REPORT 202439agfunder AgFunderVCSubscribe to our must-read weekly newsletter about the evolution of the worlds food and agriculture industries at