PitchBook年三季度Agtech报告(英)

EMERGING TECH RESEARCHAgtech ReportVC trends and innovation spotlightsQ32024REPORT PREVIEWThe full report is available through the PitchBook Platform.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 2ContentsInstitutional Research Group AnalysisQ3 2024 Agtech ReportPublishingReport designed by Megan Woodard and Julia MidkiffPublished on November 7, 2024DataHarrison Waldock Data AnalystAlex Frederick Senior Analyst, Emerging Technologyalex.frederick@pitchbook.compbinstitutionalresearch@pitchbook.comBen Riccio Associate Analyst, Emerging Technologyben.riccio@pitchbook.compbinstitutionalresearch@pitchbook.comVertical update3Q3 2024 timeline5Agtech VC deal summary6Agtech landscape7Agtech VC ecosystem market map8VC activity9Innovation spotlights28Enhanced rock weathering29Biochar32Select company highlights35ProducePay36N-Drip39What else would you like to see in this report?Send your ideas to alex.frederick@pitchbook.com. We look forward to hearing from you.CONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 5Q3 2024 Agtech ReportQ3 2024 timelineJul 1Aug 1Sep 1Sep 30October 17Autonomous weeding robot company Carbon Robotics raises $70 million in Series D funding at a $305 million pre-money valuation.VC dealJuly 22 Autonomous tractor provider Monarch Tractor raises a $133 million Series C at a $385 million pre-money valuation.VC exitJuly 18 Animal biotech company Invetx is acquired by Dechra Pharmaceuticals via its financial sponsors, EQT and Abu Dhabi Investment Authority through a $520 million LBO.VC exitAugust 27 Soil biology company Pattern Ag is acquired by EarthOptics for an undisclosed sum.NewsSeptember 19 Ahold Delhaize and General Mills announce a partnership to transition farmers to regenerative practices by providing technical and financial support.NewsSeptember 19 Purdue University and Bayer announce a partnership to collaboratively develop, measure, and implement regenerative agriculture practices.VC dealCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 7Q3 2024 Agtech ReportAgtechlandscapeAg biotechAgrifinance& e-commerceIndoor farmingAnimal agPrecision agCONFIDENTIAL. NOT FOR REDISTRIBUTION. PG 9Q3 2024 Agtech ReportVC activityAgtech VC deal value grew for the second consecutive quarter in Q3, signaling a recovery from the lows seen in early 2024. Across agtech we logged $1.6 billion invested over 159 deals. While deal value grew 15% QoQ, deal counts continued to decline, falling 17.6%. Seed and early-stage agtech startups achieved record deal sizes, although fewer total deals are being closed. Median pre-seed/seed deal sizes in 2024 have risen 92.8% from last year, surpassing peak levels achieved during the zero-interest-rate period, while early-stage deal sizes are up 100% YoY. Late-stage VC deals saw a 13.1% increase in median deal size due to limited exit opportunities. Despite the challenging exit environment, valuations for agtech startups of all stages increased in 2024, following broader VC market trends. Yet many late-stage startups that have remaine

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2024-11-18
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