In the past five years, early-stage investors have pumped more than $1 billion into African startups innovating for the food and agriculture industry, achieving a record-breaking $482 million in 2021 alone. That was a 250% jump year-over-year, but still represents less than 1% of global agrifoodtech investment.
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Given the African continent is home to 16.7% of the global population, and the food and agriculture industries represent a significant component of most African economies, there clearly remains a shortfall of funding on the continent.