Where are the agritech hotspots?
Agritech is booming across the world, affecting everything from the growing process to final consumption, but which locations are at the forefront of the industry?
Agritech is transforming the way in which food is grown, harvested, packaged, transported and sold. It has the potential to combat world hunger and dramatically reduce food waste. And although the industry’s history can be traced back to the Industrial Revolution (or even before, given that it essentially revolves around technological advancements in agriculture practices), the adaption of artificial intelligence, robotics and machine learning has seen it take off since the turn of the millennium.
While agritech’s reach stretches across the globe, data provided by research company Pitchbook in June 2020 suggests that the US is at the forefront of the industry, with Gingko Bioworks, Indigo Horticulture and Apeel Sciences named as its leading venture capital-backed companies. US companies occupy the whole of the top ten except for China’s Nxin on fourth place, the UK’s Tropic Biosciences in eighth, and France’s Euralis Semences in tenth.
The US, it seems, is ahead of the competition whichever way progress in agritech is measured, but countries are joining the race to revolutionise the field and get on board with what is being referred to as agriculture 4.0.
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