What Investors Really Want: How to Build a Compelling Commercial Story

Having a great product is not enough to secure investment in AgTech. Investors want a clear commercial story—a roadmap that shows market demand, go-to-market strategy, and real revenue potential.

At 9 North Group, we’ve helped startups refine their investor messaging to secure funding and strategic partnerships. In this post, we’ll break down what AgTech investors are really looking for—and how to shape a compelling commercial story to get funded.  

The AgTech Investment Landscape: What’s Changed?

The funding environment in AgTech has evolved. Investors are no longer just looking for breakthrough technology—they want businesses that can scale and generate returns. The days of securing funding based on R&D alone are over. Startups now need a validated commercial strategy to stand out in a competitive market.

Going into investor conversations without a clear go-to-market plan, customer validation, or realistic growth projections is the fastest way to lose funding interest. As one industry source noted in AgFunder’s 2025 Global AgriFood Tech Investment Report, “Investors have seen a lot of capital not achieving very much in this space. Milestones have been missed and there hasn’t been enough de-risking of the technology.” That shift creates a real opportunity for founders to stand out by demonstrating not just technical innovation, but clear and measurable commercial execution.

The 5 Elements of a Winning Commercial Story

A compelling commercial story answers the essential question: Why should investors believe this business will succeed? To do this, your pitch should include these five critical elements:

1. A Clearly Defined Market Opportunity

Investors don’t just need to know your technology—they need to understand the problem you’re solving and the market potential.

• Define the problem in real-world terms - “Farmers spend $X billion on ineffective weed control solutions”

• Show market size and growth potential - TAM, SAM, and SOM analysis

• Highlight why now is the right time for this solution - Regulatory changes, industry trends, or shifting consumer demand

2. A Validated Go-to-Market Strategy

Great products don’t sell themselves. Investors want to see a realistic path to market adoption and why you are set to succeed.

• Identify target customers and buying behavior - Who are the early adopters?

• Detail the sales and distribution strategy - Direct-to-farmer, dealer networks, partnerships, licensing

• Demonstrate early traction - Pilot programs, letters of intent, pre-orders, or initial revenue

• Clearly identify how you are differentiated from your competitors and why you will win

3. A Realistic, Defensible Revenue Model

Too many startups pitch inflated revenue projections without the fundamentals to back them up. Serious investors want to see a business model grounded in reality—not wishful thinking. Make sure you clearly articulate:

• A pricing strategy aligned with how your customer buys - subscription, per-acre, usage-based, license

• Customer acquisition cost (CAC) vs. lifetime value (LTV)—and how that improves over time

• When and how you expect to reach cash flow breakeven

• A credible path to capturing a portion of the value you create

Your model doesn’t need to be flashy—it needs to be believable and built for scale.

4. Demonstrated Customer Demand

Nothing de-risks a business like traction. Investors want evidence that real customers are willing to pay—and that the market is pulling for your solution.

• Pilot results, commercial contracts, or paid trials

• Testimonials from growers, food brands, or channel partners

• Strategic partnerships with co-ops, distributors, or industry leaders

• Field data, case studies, or third-party validation to back up performance claims

• Quantified market research that proves there's real demand beyond early adopters

This isn’t about perfection—it’s about proof that your solution works and the market cares.

5. An Execution Plan That Inspires Confidence  

Investors bet on teams and progress, not just technology. They need to believe your team can execute the strategy.

• Show the expertise of your leadership team - who has experience in commercialization, sales, and scaling?

• Outline key, regular milestones and a realistic timeline for growth

• Consistently highlight key milestones to demonstrate sustained momentum

• Address potential risks and your mitigation strategy

Final Thoughts: The 9 North Execution Advantage

At 9 North Group, we help startups build investor-ready commercial strategies that go beyond technology—we ensure your business has a clear path to revenue and scalability.

Need help securing funding or strategic partnerships? Let’s make your commercial story bulletproof.