India’s growing agricultural-technology segment is likely to record more mid-stage funding transactions and strategic deals in coming years, as investors look to back entrepreneurs trying to solve pressing problems in the critical farm sector, according to industry executives.
The executives, who were speaking at a VCCircle panel discussion, also said that the deep-tech market in India was growing and that there were plenty of opportunities in the agri-tech segment.
The panellists included Hemendra Mathur, venture partner at Bharat Innovation Fund, and Nitin Puri, senior president and global head of food and agricultural research at YES Bank.
The discussion focused on building a thriving ecosystem for innovation in India. The panellists talked about the areas where innovation is happening and could catapult India among the most innovative countries in the world.
India moved five places higher in the Global Innovation Index this year to 52. The government has set a goal to break into the top 25 in the next four to five years.
Priya Kapadia, head of Marico Innovation Foundation, said that there has already been a lot of attention given to sectors where a unicorn exists. Investors should, therefore, focus on areas such as waste management and agriculture, she added.
Meanwhile, Vaibhav Tidke, founder of S4S Technologies and MIF Scale-Up cohort member, explained how his food preservation company is driving innovation. For more, watch the video.