Image Credit: Food Navigator
Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
In the first half of 2024, agrifoodtech startups experienced a 12.5% year-on-year drop in funding, securing $7 billion across 427 deals. Concurrently, the alt-meat industry is seeing waning enthusiasm for “bleeds-like-meat” products as consumers, investors, and companies shift towards simpler, more natural ingredient formulations, reflecting a broader trend in consumer packaged goods.
In other news, we’ve wrapped the first season of our podcast in partnership with AgFunder: New Food Order, a nuanced investigation into the business of tackling our climate and social crises through food and agriculture. Read all about why we launched the podcast, and be sure to subscribe and share!
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1. Agrifoodtech Funding Drops 12.5% YoY in H1 2024 – AFN
Agrifoodtech startups have raised $7b across 427 deals so far in 2024.
2. The De-Evolution of the Alt-Meat Revolution – Nosh
The novelty of a “bleeds-like-meat” burger seems to have worn off for consumers, investors and the industry alike. As CPGs at-large turn to formulate with simpler and shorter ingredient decks, the meat alternative category is following along.
3. Seaya Closes €300M Climate-tech Fund, Southern Europe’s Biggest Investment Vehicle for Impact-driven Companies – EU Startups
With twelve years of experience in climate tech, Seaya has set up ‘Andromeda’ to invest in impact-driven growth companies specialized in energy transition, decarbonization, sustainable food value chain, and circular economy.
4. Consumers Don’t Want Cheap Plant-Based Meat and Dairy – Food Navigator
Conventional wisdom would suggest if a product is priced lower, consumers would be more willing to purchase it. But when it comes to plant-based, Europeans are bucking the trend.
5. A Fully Edible Robot Could Soon End Up On Our Plate, Say Scientists – Techxplore
Robotic food could reduce electronic waste, help deliver nutrition and medicines to people and animals in need, monitor health and even pave the way to novel gastronomical experiences.
6. Costco and Sam’s Club Aisles Are Full of Gen Z Shoppers – WSJ
With food prices still high, shoppers look for ways to team up with roommates, neighbors and family.
7. AI Drive-Thru Ordering Is on the Rise — But It May Take Years to Iron Out Its Flaws – CNBC
Artificial intelligence is closer than ever to taking down drive-thru orders, but fast-food restaurants like McDonald’s show that the tech still needs time.
8. The Health Trends That Are Defining 2024 – NY Times
“Hurkle-durkling” is in, along with gut health and floor time.
The post Agrifoodtech Funding Drops 12.5% YoY, The De-Evolution of the Alt-Meat Revolution + More appeared first on Food+Tech Connect.