KANSAS CITY — Startups in the AgriFoodTech space raised $26.1 billion in funding in 2020, up 15.5% from 2019, according to AgFunder, a San Francisco-based venture capital firm. That number could increase to more than $30 billion as new 2020 deals come to light, representing 34.5% growth over 2019.
The influx of funds is a sign of investors and innovators looking for solutions to longstanding food production and supply chain issues, said Louisa Burwood-Taylor, head of media and research at AgFunder.
“With COVID, the supply chain was actually pretty resilient, but it definitely exposed issues in the food system,” she said. “There was a call to action and an urgency there.”
Sustainability was a key investment theme with alternative protein companies leading in deal volume. Top deals included Impossible Foods’ $500 million and $200 million rounds and NotCo’s $85 million round. Sizeable investments in plant-based food…