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Agtech funding rebounds 29 percent in 2017

Agtech funding rebounded nicely in 2017 as investors cultivated big-dollar deals at the expense of seed financings.

Venture investors backed agrifood tech companies with $10.1 billion globally in 2017, up 29 percent, said AgFunder. Funding topped the recent high-water mark of $8.6 billion in 2015.

Deals added up to 994, a decline of 17 percent from 2016, AgFunder found.

Big financings drove the activity, as it did elsewhere in venture. Series D dollars increased 108 percent to $2.3 billion. Top rounds during the year went to:

  • MissFresh, which raised $500 million for its Chinese business;
  • Plenty, which attracted $200 million from SoftBank Vision Fund, DCM Ventures and others;
  • Indigo Agriculture, which won a $203 million round; and
  • Ginkgo Bioworks, which received $275 million from General Atlantic, Y Combinator’s Continuity Fund, Viking Global, Bill Gates and Cascade Investment.

AgFund

Seed funding worldwide slipped by more than a quarter, or 28 percent.

On the exit front, John Deere bought Blue River Technology for $305 million and DowDuPont purchased Granular for $300 million.

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