COVID-19 is accelerating adoption of digital agriculture
It’s time for your report on the Farm of the Future. I am Tim Hammerich.
2021 has been a huge year for investments in agricultural innovation. Venture capital funding for agrotech startups hit a quarterly record of $ 3.2 billion in the third quarter, according to Pitchbook. SP Ventures Brazil’s Agtech investor Francisco Jardim has said in many ways that COVID has accelerated the adoption of digital agriculture.
Jardim… “There is an old cliché phrase in our industry that says ‘being ahead and getting it wrong is the same thing’. We were definitely wrong in a lot of our investments until March 2020. We were, say, offered a second and a third chance in a lot of our investments because of COVID as things picked up, as digitization was accelerating. And the speed of the inertia of the acceleration, I mean when I look at 2022, I only see those things flying away a clear blue sky above. Be it carbon, fintech, market, digitization inside the farm, digitization of logistics challenges. When we started the business a long time ago, when it was an exotic store, you know, an asset class, a marginalized asset class. I feel like (in) 2020 I started to become a popular kid in the neighborhood, (and) in 2021, we became one of the most popular kids in high school.
Jardim said the outlook is bright for continued investment in agricultural technologies by 2022.