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Agtech 101 – In the forty years between 1959 and 1999, the world’s population doubled from 3 to 6 billion. By 2037, it is expected to increase by 50% to 9 billion and hit 10 billion by 2057.

  • Climate Change and Carbon footprint
  • Land mgmt. and resource depletion
  • Reduction in biodiversity

The Key Metrics

When looking at the investment metrics in their broadest context, it is essential to distinguish between the funding stage accordingly. While I guess, given that we are talking Agtech, we should be focusing on the ‘seed’ stage, it is essential to highlight the critical metrics for subsequent funding stages. In the interests of circularity, I would also add that the metrics I discuss below can easily be repurposed/recycled for application in many other areas of tech.

Seed/Pre Seed

Ultimately, the crux centres around the founder/founding team’s thesis and vision — rather than market opportunity or traction.

Series A

While at a Series A funding round, there will be the beginning of product-market fit. I.e. Does the business solve an identified problem for its customers, and is it commercially viable? At this funding stage, there will still be elements of experimentation — identifying those scalable growth channels that work and those that don’t — this is entirely normal and expected.

Series B

When a start-up reaches a Series B raise, I would expect to see a more mature offering built on a solid foundation, with data analysis and assessment which could provide an insight into whether value can be delivered over the longer term; there needs to be a precise product-market fit with the ability to either acquire new customers or expand the relationships with existing ones, but more importantly, the ability to efficiently increase scale — if you like a switch from inorganic, to organic growth.


What is clear to me is for an Agtech business (indeed any early-stage venture) to successfully raise funding as its goes through its growth path, is to have a growing body of evidence and data that not only does their offering solve a problem; but that the solution can be monetised and ultimately, growth can be self-sustaining.

Article by

Jeremy Roberts - Kavedon Kapital

Jeremy Roberts

Jeremy has over 25 years corporate finance, principal investing and PE experience built up in originating, negotiating and executing M&A, restructurings and capital raising transactions primarily in the industrials, transport, leisure, technology and energy sectors globally.