INNOVATION AT YOUR FINGERTIPS
Updated: 03/2021
XAG
China / Guangzhou , China
Pitch
Clinching China’s largest agritech investment of RMB 1.2bn will help drone-maker XAG compete with key players like DJI to become the market leader.
Why
Shrinking agricultural workforce
Labor shortage in rural areas due to aging population and rapid urbanization.
Farming inefficiencies
Majority of smallholders in China still use inefficient and labor-intensive farming practices.
Food security issues
Technology can boost agricultural productivity and food supplies to feed rapidly increasing populations worldwide.
Market
$22bn
Forecast market value of global smart agriculture by 2025, growing from $13.8bn in 2020 at a CAGR of 9.8%, according to MarketsandMarkets™.
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