Over the past five years, investments in agritech startups have grown almost ten times and exceeded $ 3 billion a year. The US market remains the main market (almost 50% of all industry investments), among the leaders are the Netherlands, Israel, Germany, India and China. Ukraine, which is one of the top-10 exporters of several of the most popular agricultural crops at the same time, can not boast of the developed agritech market: no more than 10% of Ukrainian agro enterprises are introducing high technologies. Yes, and transactions can be counted on the fingers of one hand.
In our country more than 70% of agricultural products are traded on the world stock exchanges. This makes Ukraine an ideal test site for innovation in agribusiness. In order to attract attention to this industry, the UNIT.City Innovation Park team together with SmartFarming has prepared an overview of the Ukrainian agritech market and Made up a map of startups in the field. And he’s started AGRITECH Unit – a platform on which agrostatas can find support for their development.
According to the Association AgTech Ukraine, there are about 70 agritech-startups in Ukraine, which are at different stages of development and activity phases. In addition to them, the Ukrainian agritech-market operates hardware and software integrators of innovative solutions for the agro-sector from leading international developers.
UNIT.City staff compiled a map of the Ukrainian agritech industry, which presents all the major players in the market. Some companies work in several areas at once – they are classified on the map as being the main category for them.
Despite strong agro-markets, there are no investment funds focused on investing in agritech startups in Ukraine. Nevertheless, some local funds still have separate investments in this sector.
Immediately several investments in agritech-startups – on the account of the well-known Ukrainian IT-businessman Yevhen Utkin. In the 2014 year, its holding KM Core has invested $ 1,2 million in partners into the eFarmer project. And in the beginning of 2017, its fund Borsch Ventures created a joint venture Agro Core together with the agroholding of Viktor Ivanchyk Astarta-Kiev.
Experts estimate that the annual volume of investments into Ukrainian AgriTech projects does not exceed $ 4 million. However, recently there has been an increase in interest in Ukrainian startups in this area by foreign accelerators and investors.
Since the beginning of 2017, there have been no more than five investments in agrostatas in the market, which have been announced publicly. Among them is Agrieye, which has attracted a $ 200 000 Norwegian accelerator Katapult. The Drone.ua project received investments from several private investors from the UK, Poland and Moldova. And in September, CIG announced the investment in the Krew Technologies hardware project.