Startups aimed at food and agriculture technology — foodtech and agtech — raised $19.8 billion in venture funding across 1,858 deals in 2019, reported global venture capital fund AgFunder. It is a 4.8 percent drop in funding from 2018, but the industry still experienced roughly 250 percent growth over the past five years.
AgFunder’s report notes “more generalist, big global players and corps,” are flocking to agtech and foodtech startups, including giants such as SoftBank, Amazon, and Microsoft.
The drop in funding overall was largely a result of a 56 percent decrease in investment in consumer food delivery apps as the more mature players extended their dominance in an oversaturated marketplace with ever-larger fundraisings.
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