Investment in new agricultural and food product technologies dropped by 5% in 2019, mainly driven by a decline in funding for delivery services. This year, total investment reached $19.8bn with a 15% drop in the number of financing transactions, down to 1,858. While well-established companies such as Doordash or Deliveroo respectively invested $1bn and $575m, overall investments in home deliveries plummeted 56% to $2.4bn. Investors are refusing to finance new entrants to an already crowded market. This overall drop in 2019 stands in contrast to 2018, when investment in agtech increased twofold compared with the previous year. In 2019, agtech companies specialising in ‘innovative food products’ (such as alternative meats) enjoyed a twofold increase in billion-dollar investments. Such companies included Beyond Meat and Impossible Food.
Source: Ft.com
