Panelists at the AgFunder 2023 Global Report launch party discussed the challenges for alt protein and eGrocery, and why capital is swimming upstream.
The macro headwinds startups face right now are also driving more interest in agrifoodtech as a solution to some of today’s most pressing climate issues.
News roundups from 2022 shed light on the rise and fall of eGrocery, the downturn’s impact on agrifoodtech and what to watch for 2023.
Led by Swiggy, Restaurant Marketplaces raised $1.95 billion in FY22, scooping up the most funding of any agrifoodtech category.
The deal, which brings together two of Europe’s biggest instant grocery players, values the combined group at $10 billion.
Trigo will further deploy its cashierless checkout system across Europe and the US, and develop its store and inventory management software, StoreOS.
Investors poured a record-breaking $15.2 billion into Asia-Pacific agrifoodtech startups in 2021; in 2022, the region continues to break records.
New York is the most diversified investment landscape with a greater mix of upstream and downstream agrifoodtech startups.
Roughly 70% of German agrifood’s $3.3 billion in funding went to just two companies, both part of the now-struggling instant-delivery sector.
Upstream and downstream investment in Europe agrifoodtech were almost on par with one another last year, though upstream closed more deals.
F&A Next 2022 is taking place in Wageningen, the Netherlands, and online next week. AFN readers can get a discount on last-minute tickets.
Kenya’s Tushop is scaling to allow communities to purchase groceries in groups, thereby getting wholesale prices for goods.
Consumer-facing downstrream technologies bagged $32 billion in VC investment in 2021; the bulk of it was thanks to a few big eGrocery deals.
China’s Furong Xingsheng and rapid delivery services in the US, Germany, and Turkey made eGrocery the most funded agrifoodtech category of 2021.
CEO Anthony Tan said the company will invest part of the proceeds into mapping tech in order to “deliver groceries more efficiently.”
Trella, Capiter, and MaxAB are among dozens of startups that have raised funding of late to overhaul Egypt’s fragmented and inefficient B2B logistics space.
The e-commerce platform — which is reportedly exploring an IPO in the US in 2022 or 2023 — said it recently reached 20 million registered users.
Wolt CEO Miki Kuusi will become head of DoorDash International, leading its global expansion efforts and reporting directly to the US company’s CEO Tony Xu.
The US fresh produce platform will use the funds to “turbocharge our software and services growth and extend our e-commerce reach from coast to coast,” said CEO Mike Xu.
Freshmart was founded in 2016 and claims to have an 18-20% share of the online food market in Peru.
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International Fresh Produce Association launches 2023 Fresh Field Catalyst Accelerator program