Agritech Funding in India Sees Sharp Decline in 2025

Agritech funding in India has declined sharply this year, reversing the surge seen during the pandemic years and creating a turning point across the sector. According to data from Tracxn, agritech startups raised only about USD 182.19 million in 2025, a steep fall from USD 390.52 million in 2024 and USD 498.28 million in 2023. The contrast with the peak years is even stronger, when funding reached USD 1.17 billion in 2021 and USD 850.62 million in 2022.The slowdown has led to shutdowns, distressed deals, and a deeper evaluation of operating models that can withstand volatility.

Investors believe the reset is structural but not terminal. Jinesh Shah, Managing Partner at Omnivore, said, “Agritech funding in India has dropped sharply in 2025. From omnivore’s vantage point, what we see are overlapping forces at play. Global venture markets have recalibrated toward profitability, and Indian agritech sits inside that broader capital evolution. Simultaneously occurring, the earliest cohort of agritech companies in India has reached a stage where their outcomes are being digested by investors, and that digestion period always feels like a slowdown.”

He added that the slowdown reflects the deeply operational nature of building agritech businesses in India. “India’s agritech chance is huge in real terms, but it is deeply operational. Venture investors outside the ecosystem are spending time building conviction in these models again, and that period of conviction building produces lower volumes temporarily. This is less a retreat and more a phase of architectural thinking.”

Despite significant capital inflow over the past decade, the sector has not yet produced a single unicorn. According to publicly reported valuation data, Ninjacart, DeHaat, and WayCool have raised major rounds in 2022 at valuations of about USD 815 million, USD 705 million, and USD 700 million respectively, without crossing the billion-dollar threshold.

City-wise investments also show long-term concentration patterns.According to “Agritech report 2020-H1 2025” compiled by TheKredible, Delhi-NCR startups led funding with more than USD 851 million across 71 deals, accounting for 40.6 percent of total investments. Bengaluru followed with about USD 550 million across 76 deals. Chennai, Pune, and Mumbai also secured significant funding.