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Tech Is Shaping the Future of Food: Here’s How Venture Capital is Carrying that Tech Across the Finish Line
- Food industry, presenting massive opportunities for investment on both the public and private sides, supplied food worth $2.6tn in US in 2023 alone.
- The food industry is one of the largest emitters of greenhouse gasses in the world.
- Population surpassing 8 billion in November 2022, will hit 9.7 billion by 2050, leading to major changes using technology.
- Private sector investment through venture capital (VC) in foodtech presents growing opportunities.
- Top 10 food and ingredient companies spend only about $4 billion to $5 billion per year on research and development, while averaging $22 billion in spending annually on M&A.
- In 3Q, $2.7 billion worth of VC deals saw 95 foodtech exits, including 69 acquisitions and 18 buyouts.
- Companies, including Cargill and Buhler Group, are expanding partnerships with innovative startups and developing sustainable foods.
- Earth First Food Ventures invests in plant-based, fermented and cultivated assets. Other VC firms include Better Food Ventures and Big Idea Ventures.
- VC is presenting opportunities with more immediate success than going public, as evidenced by significant M&A activity in the private sector.
- With technology driving the future of the food industry and companies staying private longer, it’s clear that VC is the future of foodtech, at least in the near term.
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