Welcome to our Tech Roundup, where we bring you the biggest stories in technology and innovation in Brazil and Latin America. This week: The recent rise and fall of the agtech funding ecosystem in Latin America.
After a record 2022, agtech startups in Latin America see investments plummet
Agribusiness has consistently been one of the top economic drivers in Latin America and Brazil. And with USD 273.3 million raised across 74 investment rounds in 2022 — double the amount from the previous year — the agtech segment seemed to have finally gotten on investors’ radar. Well, not quite.
State of play. A new report from innovation platform Distrito shows that startups in the segment raised USD 76 million in funding rounds this year through September, less than a third of what they attracted last year.
- “This year has really not been a good year in terms of equity investment rounds. On the other hand, some startups such as Nagro, Agrolend, and TerraMagna have continued to grow their loan portfolios and gain ground in their markets. The number of startups is growing every year, as is the maturity of the players to adopt new technologies,” says Gustavo Gierun, co-founder and CEO of Distrito.
Why it matters....
Search
