First there were cleantech, greentech, fintech and biotech. Now one of the latest tech sectors to see fast-growing venture capital investment is agriculture technology, or AgTech, and it could spell the beginning of an agricultural renaissance.
AgTech is the use of technology to improve agricultural productivity and commerce. After several stagnant decades, interest and investment in the industry has jumped in recent years, with AgTech garnering $2.36 billion in investment in 2014.
So what’s driving the AgTech boom and what does it mean for the food industry?