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title: Instant delivery
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This week: the fantasy of instant delivery is imploding, plant-based meat market dealing with oversaturation, the latest deals, and more.

| View in browser October 25, 2022 In foodtech news: 🤯 The fantasy of instant delivery is imploding. Gopuff was supposed to crack Silicon Valley’s longtime obsession with one-hour delivery. Instead, the company burned roughly $700M in expansion last year and recently laid off almost 2,000 employees. -Bloomberg 🐖 Change Foods reveals plans for animal-free casein facility in Abu Dhabi. The new plant will be a ‘first of its kind’ in the region to produce animal-free casein necessary for cheesemaking. - Vegconomist 💵🔥 After billions in investment, plant-based meat is a branding catastrophe. Impossible Foods launched in 2016 with Burger King, but the market has become crowded and noisy; the novelty has vaporized. - Ag Funder   Latest foodtech deals Select deals from last week: 🇮🇳 DeHaat, India-based agritech platform, raised $46M in Series E funding led by Sofina Ventures. The round valued the company at $700M which makes it the second most valuable agritech startup in India, behind Ninjacart. Reportedly, DeHaat is in talks to raise a new round at unicorn valuation.   👨🏻‍🌾 We've selected DeHaat as one of the Top 100 Agritech startups to watch in August this year. 🇪🇬 MaxAB, an Egyptian B2B marketplace that connects food and grocery retailers to suppliers, raised $40M in pre-Series B funding. The company is valued at $200 million, the same as in the Series A round from August this year. The funding round, led by Silver Lake, will go towards geographical expansion in Morocco and Saudi Arabia.   👀 MaxAB was selected as one of the Top 100 Food delivery startups to watch.   Other notable foodtech deals from around the globe:    🇦🇺 Nourish Ingredients, a producer of animal-free fat, secured $28.6M in Series A funding led by Horizons Ventures.  🇬🇧 Hoxton Farms, London-based producer of fat, bagged $22M Series A.  🍖 Next to Nourish Ingredients and Hoxton Farms, there are 166 other startups enabling the production of alternative proteins. 🇺🇸 US-based Traive, an agriculture fintech company, raised $10M at $85M valuation from Basf Venture Capita.   Read up on all the latest foodtech deals in Dealroom.co   Tip of the week   🍔 Foodtech Q3 2022 Update   Following a record 2021, foodtech startup funding has continued to cool in Q3 2022.   Q3 saw an 18% recovery in value for public foodtech companies, after prolonged rout since the highs of early 2021 which saw combined public market value down over 65%. Want more insights? Access the full report below. Access full report   Dive in   🛒 Top 100 Food Delivery Startups to Watch   🏆 Top 100 Foodtech Startups to Watch   💸 The Fastest-Growing Foodtech Hubs   🌎 Foodtech in Latin America     Ivan Draganov Senior Innovation Analyst Dealroom Not a subscriber yet? Subscribe here This is Dealroom's weekly Foodtech newsletter. Get more industry-specific intelligence on the evolving world of Foodtech, emerging trends, and game-changing startups. Delivered on Tuesdays. Dealroom.co, Cornelis Dirkszstraat 27-2, 1056 TP, Amsterdam, The Netherlands Manage preferences |
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