Venture capitalists see a budding opportunity in one of the oldest industries: farming.
From big data to drone technology, Silicon Valley investors are pouring money into "ag tech" companies at every level. And while their investments aim to create a more efficient and ecological solution to the problems that plague farming, VCs also see a huge opportunity to make money.
"We are talking about a multitrillion dollar global market that is ripe for improvement with new technologies at all levels," said Randy Komisar, a partner at the venture capital firm Kleiner, Perkins, Caufield & Byers.
Kleiner is no stranger to investing in ag tech companies. Since its first such funding about six years ago, it has about half a dozen ag tech investments.
"We were very early in this space and very quiet about it," Komisar said. "When we talked about it then, people thought we were crazy."
But Komisar's peers must not think they are crazy anymore because many have hopped on the bandwagon.