While funding levels in 2023 are down on 2022, the ecosystem is still very active with a similar number of deals closing during the first half of this year compared to H1 2022.Īnd though the decline is in keeping with broader macro trends, it’s only part of the story for Asia-Pacific agrifoodtech investment.Ī far more interesting narrative is the emergence of upstream technologies - those close to the farm or lab - as the new star of the region’s agrifoodtech sector. Investment in Asia-Pacific agrifoodtech startups reached $6.5 billion in 2022, a 58% year-over-year decline on 2021’s record-breaking year, according to the new Asia-Pacific Agrifood Investment report from AgFunder in collaboration with the Bill & Melinda Gates Foundation, Omnivore and AgriFutures Australia. That’s unlikely to change, despite the recent drop in agrifoodtech funding to the region. Asia-Pacific has long been a hotbed for agrifoodtech innovation.
