Agrifood tech startups in Africa have raised $1.1billion in five years, a report has said.
The Africa Agrifood tech Investment Report 2022, AgFunder’s first Africa investment report, in partnership with FMO-Dutch entrepreneurial development and British International Investment, aims to contextualise trends on the continent with global trends.
The report also indicated that African agrifood tech firms have $1.1 billion since 2017.
A record-breaking $482 million investment position, according to the report, was achieved last year alone, a 250 per cent jump, year-over-year. However, the report posited that it still represented less than one per cent of global agrifood tech investment.