The fledgling startup industry looks different to other global markets with the vast majority of innovation and investment ($1.7 billion) taking place downstream; but China’s agrifood startup scene has something the US market does not.
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The number of high-raising food delivery startups that have shuttered in the last two years suggests that even with millions of potential customers within a few miles, online restaurants are a hard nut to crack.
Zume is one of just a few startups creating solutions for restaurants to use in-house compared with the rest of the agrifood tech sector, but could the tide by changing as high profile investors come into the space?
Arturo Tanus started his job in April 2016 when Chipotle was desperately trying to bring customers back after more than 450 people got sick with food-borne illnesses between August 2015 and February 2016.
The high-cost of customer acquisition and a recent uptick in losses for the five-year-old food tech company could make the decision to list look precarious and spell bad news for competitors also considering listing.
The highs and lows of the food e-commerce space continued this week with Territory raising $6.7m in Series A funding in the same week that Maple closed and sold some of its assets to the UK's Deliveroo.
AgShift, an ag data startup helping farms automate their compliance reporting, also closed a pre-seed round. Online office catering service Platterz and pivoted Indian agri-marketing platform Ninjacart also raised funding.