Growing Rural Smartphone Penetration, Technological Advancements and Infrastructural Expansion to Stimulate the Growth of Agritech Industry in India: Ken Research

  • In January 2021, Cropin raised $20 mn in a Series C funding round led by Singapore-based PE firm, ABC World Asia. The company aims to use the latest funding for global expansion & driving the European market.
  • Agritech startup Dehaat acquired FarmGuide, a B2B Software as a Service (SaaS) platform, in February 2021. The company plans to integrate FarmGuide’s spatial technology and data science with DeHaat’s existing platform to build a full-stack platform for agribusinesses.
  • Indore based Gramophone, added a ‘Vyapar’ section to its platform to venture into the output linkage segment and help farmers connect with buyers and sell their produce directly. The startup also plans to expand its presence to Maharashtra, Uttar Pradesh, Telangana, Karnataka and Tamil Nadu by the end of FY’2022.

Augmented Investor Interest: There has been exponential growth in the investments received by startups in the recent years and the momentum is expected to continue for the next few years. Various venture capitalist firms such as Omnivore, Accel, Ankur Capital, Sequioa, Avishkaar, Lightbox among others have been heavily funding startups across all stages. The investment in the sector crosses USD 300 million during 2020, witnessing a CAGR of ~178% over the period 2014-2020. During 2020-2021, various startups such as Waycool, Ninjacart, Dehaat, Arya Collateral, Cropin and more received investments.

Increasing Rural Smartphone Penetration: Approximately 410 million new smartphone users are expected to be added to India’s current user base by 2025, with majority demand coming from rural areas. Factors such as accessibility in vernacular languages and demand for consumption of entertainment content through videos and audio are contributing to double digit year-on-year growth in rural smartphone users. This growth will lead to higher number of agriculture related apps being downloaded and in turn is expected to stimulate higher adoption of agritech solutions in future.

Geographical Expansion: Agritech start-ups are expected to expand their geographical presence to various states across India most initial pilot projects in few states. The move would enable platforms to increase their penetration & establish a stronger brand name in farming communities. Precision farming, advisory and analytics players are expected to also focus on international expansion.

Analysts at Ken Research in their latest publication India Agritech Market Outlook to FY’2025-By Nature of Services (Input Market Linkage & Farming as a Service, Supply Chain, Post Harvest Management & Output Market Linkage, Precision Farming, Advisory & Analytics and Agri Fintech)observed that there has been a surge in the number of agritech startups in India in the last decade with factors such as growing smartphone & internet penetration in the rural areas positively impacting the industry’s growth. Technologies such as artificial intelligence, machine learning, IoT, geo tagging, satellite imagery, remote sensors, etc are being increasingly used to develop efficient solutions to solve the pain points of farmers. There has also been growing interest from venture capitals as well as international investors in the sector. The Agritech Industry in India is expected to grow at a CAGR of ~32% on the basis of revenue over the forecast period FY’2020-FY’2025.


India Agritech Market (Basis Revenue):-

India Agritech Market Segmentations

By Nature of Services, FY’2019-FY’2020 (On the basis of Revenue)

Input Market Linkage & Farming as a Service (FaaS)

Supply Chain, Post Harvest Management & Output Market Linkage

Precision Farming, Advisory & Analytics

Agri Fintech

By Region (On the basis of No. of Agritech Startups)



Delhi NCR


Tamil Nadu




Agritech Startups Covered:-

Input Market Linkage & Farming as a Service (FaaS)




EM3 Agriservices

Gold Farm


Thanos Technologies

Supply Chain, Post Harvest Management & Output Market Linkage

Samunnati Agro



Arya Collateral





Precision Farming, Advisory & Analytics


Satsure Analytics

Intello Labs




Yuktix Technologies



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Agri Fintech

Samunnati Financial Intermediation & Services

Origo Finance



Aryadhan Financial Solutions


Jai Kisan

Poultry & Dairy Tech

Milk Mantra

Country Delight


Happy Cow Dairy


Mr. Milkman


Key Target Audience:-

Agritech Companies

Input Manufacturing Companies

Venture Capital Firms

Independent Investors

Industry Associations

Rural Banks & NBFCs

Government and Regulatory Bodies

Time Period Captured in the Report:-

Historical Period: FY’2019-FY’2020

Forecast Period:  FY’2021-FY’2025

Key Topics Covered in the Report:-

Agriculture Overview, Agri Exports from India & Productivity Scenario

Demand Analysis, Farmers’ Scenario & Pain Points of Farmers

Need Analysis of Entities in Agribusiness Value Chain

Overview and Genesis of India Agritech Industry

Agritech Operating Model & Services Offered

Trends and Growth Drivers in the Industry and Challenges Faced

India Agritech Market Size and Segmentations, FY’2019-FY’2020

Investment Analysis of Agritech Industry

Government Initiatives, Agri Reform Laws 2020 & Public Private Partnerships

Industry Porter’s Five Forces Analysis

Cross Comparisons between Agritech Players in Different Segments

Future Market Size and Segmentations, FY’2020-FY’2025F

Covid-19 Impact on the Industry, Future Trends & the Way Forward

Analyst’s Recommendations

For more information on the research report, refer to below link:-

India Agritech Market

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Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications

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