Increasing productivity and improving the sustainability of the agricultural system are two parameters and strategic objectives for the success of the sector in Europe. For this reason, the crisis of recent years is driving investments aimed at agritech.
We are only at the initial stage of a digitization process that will profoundly change the agricultural sector and related industries.
Data and perspectives
Europe is establishing itself as a reference market for cutting-edge solutions in the agritech sector. This dynamic is confirmed by the international agribusiness trade association Croplife. According to the organization, the 797 European agritech startups raised 10.66 billion dollars in 2022. Although this figure shows a 13% decrease in the value of funding, the number of transactions has increased by 26% compared to the previous year.
Furthermore, the forecasts made by the CB Insights business analysis platform indicate a growth in the number of investments in agritech startups devoted to the design of sustainable solutions in 2023.
The goals of agritech startups
These startups focus on precision agriculture and technological evolution to overcome the obstacles associated with global supply chains.
The long-term goal of these solutions is to reduce the risk of food crises and ensure food security for millions of people, particularly in Asia and Africa.
The Holland primacy
The economic and food consequences of the war in Ukraine are weighing on Europe, which is looking for solutions in agritech and foodtech to deal with the crisis.
Leading the Old Continent towards the future of agriculture are, above all, Dutch startups. The Dutch agritech companies use artificial intelligence to increase agricultural productivity and develop indoor crop projects capable of producing yields up to 15 times higher than those grown in the field.
Source: efanews.eu
