For agtech startups, 2023 was a tough year for fundraising. They secured $4.6 billion in funding during the first three quarters of 2023, but that number is down significantly from the $10.7 billion raised last year and $12.2 billion in 2021, according to Global Agtech Initiative. CropLife reports that even though the number of agtech startups raising venture capital has increased for three straight quarters, the average round size has fallen during the same time.

In other words, more agtechs are getting funding, but they’re receiving smaller amounts of money. As a result, they’ll need to find ways to do more with less or turn to more creative funding options. READ MORE