Cambodia’s agritech segment is drawing huge interest from the part of investors, according to EcoBusiness, a digital platform dedicated to sustainable development across the Asia-Pacific region.

The trend is attributed to the growing agritech startup ecosystem, deployment of the latest agricultural technologies as well as the role of agriculture in Cambodia’s economic development. The number of active agritech startups has doubled between 2018 and 2022.

Among the investments in the sector which hogged the limelight include Azaylla, an agriculture supply chain platform, receiving an undisclosed amount of pre-series A funding from Singapore-based investor Insitor Partners.

Azaylla, works with smallholder farmers and co-operatives across the country to source fresh produce and the firm is expected to use the new funding to grow its sustainable and socially responsible agri-business network, leveraging technology to supply supermarkets, hotels, restaurants, and caterers with Cambodian agricultural products.

The country has been pioneering the latest technologies across the agriculture and water management areas including drip irrigation, sprinkler systems and water sensors.

Farmers have been using precision agriculture systems encompassing GPS, remote sensing and drones to gather data on soil conditions, crop health and pest infestation. According to the platform, the widespread use of smartphones has led to farmers accessing agricultural information through various mobile applications.

Japanese media have published many reports about Japanese agritech firms evincing interest to enter the Cambodian market in a big way and this includes plans to acquire startups, engage in carbon trading as well as invest in agritech firms spearheading innovation.

Khmer Times on 3rd Janauary 2024 published a report about the Chinese Yunnan Construction Group holding talks with the officials of the Council for the Development of Cambodia to invest in the agritech sector by setting up an agro-processing Special Economic Zone near Siem Reap Angkor International Airport.

Speaking to Khmer Times, Sreekanth Podol, Founder and Chief Executive Officer of NR Farm Products, an Indian agriculture producing and supplying firm based in Mumbai that has business operations across Southeast Asia, said Cambodia will receive maximum investments in the agricultural sector in the coming years and its agro-based markets will witness a huge expansion.

“Cambodia is renowned for its huge agricultural base and with new technologies in place it can easily become a destination for investors looking forward to doing big in the agricultural sector.”

Oxfam, a developmental organisation operating in 85 countries, has been a key contributor to the Kingdom’s agritech development. Its BlocRice Project, an initiative which uses blockchain technologies for the benefit of farmers, has been widely welcomed as the technological solution to address challenges faced by farmers and agricultural labourers.

According to Oxfam, the project tests how farmers can be empowered by having information about their supply chain and by electronic verification of their contract conditions.

It aims to introduce cashless payments to a number of farmers. Payments into bank accounts enable electronic verification of payment by the buyer to a farmer, in terms of accuracy and timing.

Among bilateral agreements, Cambodia and Israel, an agritech powerhouse, have entered into a partnership to boost the Kingdom’s agritech landscape.

Prak Sereyvath, Executive Director of Cambodia Institute for Research and Rural Development (CIRD), earlier told Khmer Times that it will be greatly advantageous if the Cambodian agritech sector gets opportunities to apply the latest Israeli technologies.

“Just because Israel has good technology and experience does not mean it can be applied in our country. So, we need to examine the differences between us and them in terms of conditions and study how we can adapt to them to correspond to the conditions in our country,” he had said.