AgFunder and Omnivore report says agrifoodtech funding develops markets grew 63%

Developing Markets AgriFoodTech Investment Report 2025’ that reveals that agrifoodtech startups in developing markets raised $3.7 billion in 2024

Omnivore, in collaboration with AgFunder, a global investment platform, released a report, ‘Developing Markets AgriFoodTech Investment Report 2025’ that reveals that agrifoodtech startups in developing markets raised $3.7 billion in 2024, marking a 63 per cent year-over-year (YoY) surge. This significant growth, which brings funding back to pre-Covid levels, stands in stark contrast to the 4 per cent decline seen globally. The report highlights India’s dominance in this rebound, with startups like eGrocer Zepto raising nearly $1.4 billion, accounting for a third of the total. Even without Zepto, developing markets posted strong gains across both upstream and downstream categories, underlining renewed investor confidence in food and agri-innovation across the Global South.

That recovery bucks the global trend where agrifoodtech investment declined 4 per cent YoY.

The increase largely came from downstream categories–those operating closer to the consumer, with India’s eGrocer Zepto raising nearly $1.4 billion across a few deals and accounting for one-third of all funding.

But even without that deal, India posted gains with funding increases for upstream categories like Ag Marketplaces + Fintech to raise $2.6 billion in total.

Across developing markets, upstream funding increased 22 per cent YoY to $1.2 billion and a 31 per cent share of all developing markets funding. Vietnam’s Techcoop topped the upstream ranks thanks to four rounds jointly worth $75 million.

The funding increase was down to larger, later-stage deals, as overall deal count was down 8.4 per cent YoY. Late-stage rounds raised 133 per cent more than in 2023, while growth-stage funding was up 54 per cent and early-stage funding (seed and Series A) just 1 per cent YoY. The funding increase