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.
While investment in eGrocery services increased substantially, especially in China, the return of foot traffic to brick and mortar retailers and restaurants saw investment double in technologies servicing them.
Picnic dispatches groceries from strategically located, automated hubs to its customers’ doorsteps using electric minivans.
Having overtaken e-commerce behemoth Alibaba on the active buyers front, Pinduoduo’s looking upstream at alt-protein and logistics tech, its sustainability head tells AFN.
It closed its Series B round just three months ago – but says it needed more money for its aggressive expansion plans.
Dingdong Maicai has slashed its IPO pricing by 74% following its Chinese e-grocery rival’s rough debut last Friday.
Competitors Missfresh and Dingdong filed for New York IPOs earlier this month.
