Data Snapshot is a daily AFN function analyzing agrifoodtech market funding information offered by our father or mother firm, AgFunder.

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Agribusiness Marketplaces overtook Midstream Technologies as India’s most-funded upstream class in fiscal 12 months (FY) 2022 — which ran April 2021 to March 2022. But the latter stays lively total, with startups elevating $461 million, in response to AgFunder’s India AgriFoodTech Investment Report.

The midstream is the “messy middle” of the agrifood worth chain between the farm (or lab) and client. Typically, the class contains logistics and transport, meals processing, chilly chain storage, meals waste mitigation and high quality management, to call a couple of.

While total deal depend for Midstream Technologies dropped — from 29 in FY2021 to 19 in FY22 — the class nonetheless noticed a 2.5X enhance in funding. As AgFunder’s report notes, this discount in offers is indicative of a number of sub-categories reaching maturity, akin to logistics, transport and B2B retail.

Top Midstream Technologies offers in FY22

As was the case in FY21, B2B recent meals provider Ninjacart raised the class’s largest spherical in FY22: $145 million from Walmart, Flipkart and others.

Not to far behind was agri-commerce startup Waycool, which raised a $117 Series D round. and on-line wholesaler  Jumbotail‘s $85 million Series C. Both Waycool and JumboTail had been among the many high offers final 12 months, too.

“We have seen the fundraising process smoothening over time,” grain commerce platform Arya.ag stated within the report. “Marquee investors have not only integrated agrifoodtech into their core investment strategy but they no longer shy away from supporting entrepreneurs right from their seed stage to large later rounds.”

The firm aded that shifting ahead, the most important hurdle for Midstream startups stays technological.

“The core challenge is still the adoption of technology which will need more time to resolve. However, the increased penetration of the internet and smartphones offers a lot of hope for more opportunities in the near future.”