AgFunderNews reports on the evolution of the global food and agriculture system. By going beyond the headlines, we analyse the people, companies and technologies aiming to improve human and planetary health. Publishing daily news, our team of award-winning journalists delivers deeper insight on the growing foodtech, agtech and climate tech industries. A multimedia publication, AgFunderNews is a division of AgFunder Inc, one of the world’s most active agrifoodtech venture capital firms.
Sundial Foods closes down, sells IP to large food co; and 2024... a year of reckoning for agrifoodtech?
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A lot of agrifoodtech founders in this dry capital environment are "beating their heads against the wall with the conviction that the wall will break before their heads do,” observes Paul Shapiro at The Better Meat Co. "That said, deals are still getting done, and important technology is still being developed." Many investors got their fingers burned in the heady days of 2020-22 by throwing silly money at this space, points out Magi Richani at molecular farming co Alpine Bio. But the problems they are attempting to solve have not gone away, she points out. “Unlike AI agents or dog-walking apps, transforming our food system is essential for our survival on this planet, and ultimately, the largest returns on investment will come from solving existential problems. This is actually the best time to invest in this space. The investors who are writing checks today are the ones who will reap the greatest rewards tomorrow.” With this in mind, foodtech editor Elaine Watson and agtech editor Jenn Marston have shared some of the highlights (and a few low lights😉) from 2024, plus some key agrifoodtech areas to watch in 2025, from plant cell culture to ag biologicals... Happy New Year! Louisa, Elaine, Jenn and Samuele Industry news, opinion, and analysisEXCLUSIVE: Nestlé-backed alt meat startup Sundial Foods closes down, sells IP The firm generated some buzz in early 2022 with the launch of plant-based chicken wings featuring edible “skin” from a protein-lipid film, and “bones” from bamboo stalks. Elaine Watson Motif FoodWorks assets up for sale in online auction The firm—best-known for its meaty tasting heme proteins produced via precision fermentation—told staff it would be closing down last fall but has not commented publicly on the decision. Elaine Watson 2024 was ‘a year of reckoning for agtech’ Arguably more important than fundraising is the need to build further trust with the farmers meant to be using agtech solutions. Jennifer Marston Eggs, coffee, chocolate, and the culture wars: Foodtech in 2024 In some cases, startups have found themselves swimming against the tide this year. In other cases, a confluence of factors has created far more favorable conditions for founders. Elaine Watson Guest article: Agtech poised for a rebound in 2025? Despite some widespread challenges for agtech, Rabobank has identified multiple themes that remained resilient in 2024. By guest contributors Guus Hovius and Josh Bean What were the top 15 agtech deals of 2024? Ag biotechnologies and robotics are two segments that have shown significant resilience in 2024 and attracted large deals. Samuele Gabbio Drones, GLP-1, and gene editing: What were the most popular articles on AgFunderNews in 2024? Given the rapid growth of drones for spraying crops—a market dominated by Chinese supplier DJI—our coverage of lawmakers' attempts to restrict DJI's US activities featured heavily in our 'most read' list this year. Elaine Watson GLP-1, GWP*, and the state of ag robotics: the top 10 guest posts on AgFunderNews in 2024 The most popular guest posts of 2024 covered GLP-1, regenerative agriculture, artificial intelligence, and more. Jennifer Marston In case you missed itA flurry of startups offering AI-powered ag insights driven by long-range weather forecasting has emerged on the scene in recent years. But are they delivering actionable info for food & ag companies? Elaine Watson Under six months of runway and no term sheet? SCiFi Foods’ guide to a ‘graceful exit’ “We’re at the precipice of a mass startup extinction,” warn the founders of cultivated meat firm SCiFi Foods, which closed shop in June after failing to raise a series B round. Elaine Watson AI was top of mind for many founders, but it’s not the only thing on their list... Elaine Watson The challenging funding environment topped the list, but it's not the only thing disturbing founders' sleep... Elaine Watson AgFunder startups in the newsAquaconnect uses tech to combat climate change, wins gold at AllAboutAI Tech4Good Awards Featuring Aquaconnect! MSN What we're readingBleak outlook for US farmers – and Trump tariffs could make it worse The Guardian Inside the race to save Florida’s oranges Food Dive 7 new startups reshaping the packaging sector Global Venturing The No-Hunger Games: How GLP-1 medication adoption is changing consumer food purchases SSRN Patent applications for cultivated meat plateau Alt-Meat
AgFunder research2024 Asia Pacific AgriFoodTech Investment Report New! 2024 Africa AgriFoodTech Investment Report New! 10 years in agrifoodtech: our exclusive 83-page e-zine! 2024 India AgriFoodTech Investment Report Climate Capital: Financing Adaptation Pathways for Smallholder Farmers 2024 Global AgriFoodTech Investment Report 2023 Asia-Pacific AgriFoodTech Investment Report 2023 Latam AgriFoodTech Investment Report Jobs at AgFunder portfolio companiesphagos (Suresnes, France) JR Robotic Solutions development analyst Solinftec (Araçatuba, São Paulo, Brazil) Senior account manager, agriculture Klim (Berlin, Germany/hybrid) Plant scientist/plant nutrition expert Intelligent Growth Solutions (Invergowrie, Scotland) ♥️ our newsletter? Forward to a friend or subscribe here |
AgFunderNews
AgFunderNews reports on the evolution of the global food and agriculture system. By going beyond the headlines, we analyse the people, companies and technologies aiming to improve human and planetary health. Publishing daily news, our team of award-winning journalists delivers deeper insight on the growing foodtech, agtech and climate tech industries. A multimedia publication, AgFunderNews is a division of AgFunder Inc, one of the world’s most active agrifoodtech venture capital firms.
It's been another big week for ag robotics, with fresh funds for autonomous mushroom harvester 4AG Robotics and TRIC Robotics, which has a fleet of 'bots armed with UV-C light and bug vacuums roaming California's strawberry fields. On a more depressing note, UK-based vertical farmer Vertical Future was put up for sale on an insolvency marketplace, while Belgian startup FlyBlast, which engineers black soldier flies to produce high-value proteins, filed for bankruptcy. Meanwhile, with new data...
The big news this week? Two high-profile alt protein startups have called it quits, with Planetarians blaming a "mismatch between the capital intensity required to scale breakthrough manufacturing innovation and the current investor appetite for foodtech" and NovoNutrients blaming the "shifting investment climate.” Both hope their tech finds a new home, however. Planetarians founder Aleh Manchuliantsau insists that "We’re specifically seeking acquirers who will actively utilize and develop...
Everyone has a pet theory about what's gone wrong for alt meat. It's too processed, too expensive, too different from meat... or not different enough. But we may be missing the elephant in the room, claims ex-TiNDLE exec Andre Menezes. “The fundamental issue is that there is no real underlying consumer demand to shift away from meat. If the price is right and consumers like the product, they don’t care if they are destroying the Earth.” So what does this mean for TiNDLE and the broader alt...