Farming venture
Farming naturally conjures up images of idyllic pastures, tractors, and hardworking people bearing shovels and rakes, but, like all industry, technology is a playing an expanding role. Tractors have begun to drive autonomously, drones are inspecting crops and delivering pesticides with more precision, and internet of things systems are tracking everything from soil health to supply chain logistics. Assisting much of this farming innovation has been an influx of venture capital into the sector. However, over the last two years agtech venture funding has fallen by 60% according to McKinsey. Like with crops, a drought in investment can lead early emerging technologies to wither on the vine.
Source: Mckinsey, April 2024.