Adam Anders, managing partner at Anterra Capital, on why venture capital is waking up to the possibilities afforded by the agricultural tech sector.
Marc Andreessen famously once said that “software is eating the world”. Well, there is one part of the world that technology has not yet devoured – though the field is a wide-open opportunity.
Food and agriculture is a major segment of the world economy, representing close to $10trn in market value. The complex value chain behind it has a fundamental impact on human lives and our environment. According to the FAO, 2.5bn people derive their livelihood from farming. Agriculture accounts for close to 70% of global freshwater consumption and a quarter of greenhouse gas emissions.
With the global population expected to increase to 10 billion by 2050, our food system will be increasingly strained. Stagnant crop yields, inefficiencies in the supply chain resulting in 40% waste from seed to plate and a mismatch between where food is produced and where it is needed are all major challenges requiring innovative solutions. ...