NEW REPORT: African agrifoodtech funding recovers 1.6% YoY in H1 2024 amid global funding challenges

African agrifoodtech financing is revealing moderate development and healing in 2024, with start-ups in the field increasing $145 million in the initial fifty percent of 2024, a 1.6% year-over-year rise vs H1, 2023. Yet Africa still stands for a tiny portion of international financial investment, according to AgFunder’s third African AgriFoodTech Investment report, launched today.

This follows a tough duration in 2023 where African agrifoodtech financial investment decreased 62% to get to simply $275 million. Africa’s share of the global agrifoodtech funding landscape remains modest at 1.6% in 2023.

Over the previous years, global investors have contributed a total of $2.4 billion to African agrifoodtech endeavors, standing for somewhat greater than 1% of around the world financial investment in the field.

The family member rise in African agrifoodtech financing for H1 2024 was come with by a 27% decline in the variety of offers. This might suggest threat difficulty amongst financiers at the earlier phases yet additionally a choice to select champions and sustain them to the later phases.

Kenya has re-emerged as the top African hub of agrifoodtech financial investment in 2024, bring in $83 million throughout 19 offers– some 53% of the continent’s overall. Egypt, was 2nd with 15% of overall financial investment, andNigeria comes in at third with 10% Especially, Egypt made a considerable jump, climbing up 3 settings from its 2023 position, showcasing its expanding prestige in the field.

There’s additionally been activity in regards to one of the most prominent classifications for African agrifoodtech financing. Agriculture Marketplaces & Fintech has actually surpassed Midstream Technology and In-Store Retail Technology to be one of the most prominent group in 2023, therefore much, in 2024, bring in 41% of all moneying bucks and accountancy for 36% of offer task.

Over the previous ten years, there seem indications of raised sex variety amongst founding groups; nevertheless those with women owners elevate disproportionally much less than their male-led equivalents.

On a favorable note, environment technology financial investments have actually raised as a section of total African agrifoodtech financing thus far in 2024, getting to 40% of moneying to upstream classifications, up from 24% in 2023.

Upstream group Task in 2024 environment technology

African agrifoodtech financing by the numbers

$ 275 million: overall financing in 2023, a 62% year-over-year decrease vs 2022 in a year when globalagrifoodtech financing went down 50%.

1.6%: Africa’s share of international agrifoodtech financing in 2023.

$ 2.4 billion: 10-year overall financial investment in African agrifoodtech vs $222 billion around the world.

$ 157 million: financing in 2024 thus far.

27%: the decrease in the variety of offers enclosed H1 2024 (39) contrasted to H1, 2023.

$ 83 million: the quantity increased by Kenyan agrifoodtech start-ups throughout 19 offers, making up 53% of the area’s overall and placing Kenya back in lead.

51%: the share of financial investment taken by simply 2 classifications in 2023: Ag Marketplaces & Fintech and Ranch Robotics, Automation and Tools.

$ 65 million: financial investment in Ag Marketplaces & Fintech thus far in 2024, throughout 17 offers and 41% of overall financing.

6: the variety of business with female-only starting groups that increased financing in 2024.

40.5%: the part of upstream financing taken by climate-tech start-ups in 2024, with $45 million throughout 13 offers.

75: the variety of seed-stage sell 2023, totaling up to $60 million. In 2024 thus far, 29 seed phase offers have actually shut, increasing simply under $18 million.

Download and install the record completely– and free of cost– here.

The article NEW REPORT: African agrifoodtech funding recovers 1.6% YoY in H1 2024 amid global funding challenges showed up initially on AgFunderNews.