The AgFunderNews team loves taking time in December to reflect on the year gone by. Usually this centers on which articles were the most popular among our readers, and we’ll be sharing our top 25 most-read articles next week.
But this year we also wanted to highlight our favorite stories of the year — not necessarily the most popular but the articles we enjoyed working on the most. So without further ado:
Louisa Burwood-Taylor, managing editor:
North Carolina farmer weighs in on China ag spray drones battle: ‘Everyone is contacting their state reps about this’ By Elaine Watson
“This only came to most people’s attention when it passed in the [US] House [of Representatives], but I can tell you farmers in my state [North Carolina] have been blowing up the phone lines of Senator Budd and Senator Tillis about this,” says Russell Hedrick, a first-generation farmer growing corn and soybeans on a 30-acre farm in Hickory, North Carolina.” Hedrick got in touch with AFN in response to an article by Elaine Watson about proposed legislation targeting Chinese drone maker DJI Technologies; I love it when our readers reach out and this went on to be our most-read article of the year.
The venture capital model is still suitable for agtech. Sort of By Jennifer Marston
“With agrifoodtech investment still down and exits in the sector elusive, more folks are now asking whether the venture capital model is still applicable to agtech,” reported Jennifer Marston in October, tackling an ever-pressing question in our industry. “The jury, it seems, is still out on the matter. While VC investment to agtech has potential, there are some critical barriers to grapple with, said attendees polled by AgFunderNews at the World Agri-Tech show in London, UK.”
Elaine Watson, global foodtech editor:
XPRIZE ‘Feed the next billion’ finalists learn there is no $10m grand prize: ‘It feels dishonest’ By Elaine Watson
“The prestigious XPRIZE ‘Feed the Next Billion’ competition to find “structured, nutritious, affordable, and versatile” alternatives to chicken breasts and fish fillets “capable of competing with conventional products” concluded with no winner and no $10m grand prize. And unsurprisingly, the finalists—tiny startups who had dedicated substantial time and resources to participate in the hope of securing a meaningful amount of money and positive PR at the end—were not happy…”
Arda Biomaterials’ cofounder talks choosing alt-materials over alt-meats and how craft beer inspired a luxury bag By Jennifer Marston
“I’d also like to highlight this great piece by our agtech editor Jennifer Marston, who recently profiled Brett Cotten, cofounder of Arda Biomaterials, a UK-based startup developing alternative materials using brewer’s spent grain to replace leather and plastics.
It turns out that such biomaterials are “much more forgiving than protein isolates for food, and the price points are better,” says Cotten. “The materials sector lends itself really well to doing two things: replacing plastic through the use of protein and mimicking the structure of animal based proteins built with plants. So I realized there’s a whole bunch of wearable materials instead of edible materials that we could go after.”
Exclusive: Perfect Day sued by manufacturing partner for fraud and breach of contract By Elaine Watson
“As exclusively revealed by AgFunderNews, animal-free dairy pioneer Perfect Day was sued by co-manufacturing partner Olon for breach of contract earlier this year, but immediately hit back with a countersuit in a case getting wilder—and more expensive— by the day. While it’s unclear who will come out on top, the litigation—which follows high-profile spats between Eat Just and bioreactor supplier ABEC, and Beyond Meat and ex-co-packer Don Lee Farms—serves as a reminder that finding the right partners is mission-critical.”
Jennifer Marston, global agtech editor:
Dispatch from North Dakota: How innovators, entrepreneurs and bonanza farmers built Fargo’s agtech legacy By Jennifer Marston
“If you look at the history of this region, you see a history of innovation in ag technology,” explains Greg Lardy, VP of agriculture at North Dakota State University. “You have the spirit of innovation that’s been happening for decades, and you have a high level of entrepreneurism, in part because the region had to be entrepreneurial for people to just get by. When you start bringing those two things together, you get all kinds of other things, and people start to notice.”
Groundswell 2024 hinted at the common ground regenerative agriculture needs By Louisa Burwood-Taylor
“For farming communities, regenerative agriculture’s potential to detach farmers from the treadmill of high input costs and low margins was increasingly appealing. Often the seemingly different worlds — big business, tech, investment and farming — do not meet in the middle, and at times the movement itself feels fractured and fraught with debate around the true definition of regen ag, its scalability, the appropriation of an indigenous form of farming by capitalist corporations, and calls for de-growth.
But at Groundswell, the UK-based regenerative agriculture festival hosted by the Cherry family, the movement felt unified, positive – and big!”
YoLa Fresh founders on how a more efficient food system can reduce emissions and water consumption in Africa By Samuele Gabbio
“In an interview with AgFunder News, co-founders and co-CEOs Larbi Alaoui Belghiti and Youssef Mamou explain: “YoLa Fresh is addressing key challenges like food waste, inefficiencies in fresh produce distribution, and limited market access for smallholder farmers. Our technology-driven logistics platform enables farmers to deliver produce faster, reduce waste, and improve their livelihoods.”
Meet the founder: Money really does grow on trees, says Propagate’s Ethan Steinberg. But agroforestry requires patient capital By Elaine Watson
“Can money really grow on trees? Absolutely, says Ethan Steinberg, cofounder and CEO at agroforestry startup Propagate. But it doesn’t happen overnight, and farmers interested in generating extra revenues and at the same time sequestering carbon, improving water management and improving soil health by planting trees often lack the upfront cash and wherewithal to take action. Which is where Propagate comes in.”
Samuele Gabbio, data journalist:
Investment in agriculture gene editing grew 206% YoY in H1 2024, hinting at sector recovery and new momentum By Samuele Gabbio
“Agriculture-related gene editing startups have raised over $2.7 billion since 2012, and while the segment has suffered from the recent venture capital downturn, there are signs of a potential recovery in 2024.
In the first half of this year, agriculture gene editing startups raised just over $161 million across six deals, a considerable improvement over the same period in 2023 when they raised around $46 million.”
Israel-Gaza conflict not “the whole story” behind plunge in agrifoodtech funding By Samuele Gabbio
“It’s perhaps unsurprising that Israel-based agrifoodtech startups have closed just 17 funding rounds since the Hamas attack on civilians that was followed by a protracted war in Gaza. Raising some $161 million since October 7, 2023, the total is a 72% drop on the same period the year before, and some 73% fewer deals. The numbers take Israel’s share of global agrifoodtech funding to just 1%, half what it was over the previous decade.
But Amir Zaidman, chief business officer at The Kitchen, Israel’s leading food tech incubator and VC investor, argues that “these numbers don’t tell the whole story,” pointing to the broader slowdown in foodtech investment globally, especially in alternative proteins.”
Global demand for seafood is soaring but how well funded are aquatic food tech startups? By Samuele Gabbio
“Global demand for seafood is set to soar in the coming years, with some predicting it will more than double by 2050 as the population grows and trade changes, and as protein becomes more affordable to more consumers.
Yet in the first half of 2024, investments in aquatic foodtech startups — technologies for wild-caught fisheries, aquaculture, and seafood alternatives — reached only $150 million across 18 deals, a 40% reduction in investment compared to the first half of 2023.”
Guest article: When minimum isn’t viable – the case against MVP in foodtech and beyond