In California, AgFunder is reporting that investment in foodtech and agtech startups reached $19.8 billion, a 4.8% decline by dollars and 15% by deals. Food delivery startups led the downward trend raising 56% less year-over-year. AgFunder also reported that “investment in upstream startups continued to grow, closing $7.6 billion in investment, a 1.3% year-over-year climb including the best performing H2 on record.”
The West Coast publication, always a must-read among VCs, reported Strong growth for meat alternatives, indoor farming, robotic food delivery, and cloud kitchens. Also, upstream start-ups in alternative proteins and vertical farming drove upstream investing to 1.3% growth. European funding doubled and there was special level of activities in the UK, despite Brexit, with agri-foodtech investing up 94 percent in 2019 in the EU. Latin America reported $1.4B in cap raises, as well. California continues to dominate the US landscape, we hear.
One bright note, the interest from strategic investors and major players outside the sector, and AgFunder pointed to SoftBank, Temasek, Amazon, Microsoft, KKR, Sequoia, T. Rowe Price among those.