Startups linked to agribusiness grew 40% in Brazil

Brazil continues to innovate in agricultural technology and has had a growth of more than 40% in the number of agribusiness startups since 2019. The survey is from the Radar Agtech 2020/2021, published by the Brazilian Agricultural Research Corporation (EMBRAPA).

The 1,574 Brazilian startups cover diverse fields such as artificial intelligence, renewable energy, agricultural automation, soil fertility mapping, spraying drone and irrigation.

Also, according to EMBRAPA, 42% of these businesses chose to use their own resources or bank financing to start the startup; 25% had resources from family or friends; 24% non-refundable; 9% of accelerators; 6% angel investors and 5% venture capital.