Recently, the agritech industry has been in good condition when it involves raising large rounds by startups
Based in Los Angeles Agrovision is the latest. The agtech startup has locked down a $100 million funding round at a $1 billion valuation, in keeping with Bloomberg reportHe led the recent round Maintenance capital.
Agrovision is a grower, packer, shipper and marketer of superfruits reminiscent of cherries and blueberries, selling its fruit under the Fruitist and Big Skye brands. The company also uses certain technologies in its cultivation — using proprietary genetics and data evaluation.
Big Deals
The ag industry has had its ups and downs, but the last week was a good one.
Last week, Monarch Tractor — creator of the all-electric, driver-optional, intelligent tractor — raised $133 million in Series C funding co-led by Astanor Projects AND HH-CTBC PartnershipThe company also offers the WingspanAI platform, which provides farmers access to farm data, vehicle tracking, crop image collection and more to assist close the industry’s profit gap.
Perhaps these two rounds could get up a somewhat dormant agtech sector. So far this yr, agriculture and livestock startups have raised just $2.3 billion in a modest 365 deals, in keeping with Crunchbase data.
The pace is slower than last yr, when similar startups raised $4.6 billion across 944 deals.
Both of those numbers are well below the industry records set in 2021 and 2022, when startups raised $10 billion and $9.4 billion, respectively.