
NEW REPORT: African agrifoodtech startups face headwinds as VC funding drops sharply from record-breaking 2022
African agrifoodtech investment declined 77% year on year in the first half of 2023 as global macroeconomic trends curtailed growth.
African agrifoodtech investment declined 77% year on year in the first half of 2023 as global macroeconomic trends curtailed growth.
2022 was a lousy year for agrifoodtech investing, and India was not immune to the headwinds impacting global markets, with funding to Indian startups in the field dipping 33% year-over-year to $2.4 billion, according to AgFunder’s new India AgriFoodTech Investment Report 2023.
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.
The country saw four nine-figure US dollar funding deals last year – including two for startups working on cell-cultured meat.
2021 was “a year of momentum for ag biotech and alternative proteins” in the region.
In 2021, eGrocery dominated dealmaking yet again; but upstream startups vastly increased their share of funding.
Most of the top deals involved eGrocers and Restaurant Marketplaces, highlighting the continent’s thirst for ‘quick commerce.’
Venture investors pumped $51.7 billion into agrifoodtech startups in 2021, according to AgFunder’s latest global investment report.
Our report is our love letter to the ecosystem. Here’s how you can help us share the love and make sure you’re included.
The latest edition of AgFunder’s India Agrifood Startup Investment Report, released today, also reveals that food delivery platforms raked in the most dollars during a difficult year.
AgFunder’s China 2021 AgriFood Investment Report reveals that funding for the sector rose 66% last year to reach $6 billion in total.
In spite of the Covid-19 bump for consumer-facing solutions, downstream agrifoodtech funding actually decreased in 2020 if a few China oversize deals are discounted.
As AgFunder’s 2021 AgriFoodTech Investment Report shows, exits in 2020 were centered on subsectors that grew in relevance in light of Covid-19 – such as digital platforms for food delivery.
Agrifoodtech startups and investors are plugging away in 2020 as if we weren’t all caught in the midst of a global pandemic. Well, almost.
Downstream investment declined by 67% year-on-year. But upstream funding more than doubled, as startups and investors zeroed in on farm and supply chain solutions.
While the bulk of funding went to downstream categories in 2019, startups in the middle of the agrifood value chain are attracting more and more interest.
Infrastructure, crop cultivation, and logistics and distribution are set to be the leading areas for funding in the years ahead, says East Ventures partner Melisa Irene.
Singapore Economic Development Board’s John Eng says the city-state’s “unique” ecosystem of agrifood corporates and startups is winning investors over.
Between them, Singapore and Indonesia raised over five times the funding of all the other ASEAN countries put together.
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