As per the media report by FNB News, as of 2020, the India agritech market contains 600-700 agritech startups, according to The Indian Wire. Based on revenue in FY2020, startups in the supply chain and output linkage category such as Ninjacart leads the business. Precision farming, consulting, and analytics startups are still in their infancy and confront the problem of revenue at scale.
By FY2025, the market is anticipated to grow at a CAGR of 32% in terms of revenue. Rising rural smartphone and internet penetration is projected to boost the country’s adoption of agritech solutions. By 2025, 410 million additional smartphone users are anticipated to join India’s present user base, with rural regions accounting for the majority of demand.
Geographical growth of agritech players to various states is also predicted in the future years. New competitors offering end-to-end solutions along the agricultural value chain are expected to enter the market in the future.
Here, we have the top 10 Agritech startups that one must look out for in 2021:
India’s largest fresh produce supply chain platform, Ninjacart is a pioneer in getting solutions to one of the toughest supply chain problems globally through its innovative technology. This startup facilitates a medium to connect producers of food directly with retailers, restaurants, and service providers that drive end to end operations.
Currently, their supply chain enables the movement of vegetables and fruits from farmers to retailers and businesses across seven Indian cities, every day in less than 12 hours. Their model is designed in such a way that it cuts down the intermediaries by taking control of the supply chain by using technology and analytics.
This agritech is reliable, cost-effective, and has high-speed logistics and infrastructure that solves inefficiencies and reduces food wastage in the supply chain.
Headquartered in Bangalore, and founded in 2015 by Sharath Loganathan, Thirukumaran Nagarajan, Vasudevan Chinnathambi, Kartheeswaran KK, Ashutosh Vikram and Sachin Jose, this startup aims to build India’s most efficient and largest Supply Chain platform that works tirelessly to improve the lives of producers, businesses, and consumers. In such a short span, their investors include Accel US, Syngenta Ventures, Neoplux, HR Capital, Trifecta Capital, Jo Hirao, Founder of ZIGExN, Accel India, Nandan Nilekani, Mistletoe, Qualcomm Ventures, Tiger Global, Flipkart, and Walmart.