Spooky numbers for VC activity in Oct. 👻

In October, the global Foodtech VC investment reached $1.3 billion, a 31% year-on-year decrease. October last year also was a rather slow month in terms of VC investment in foodtech. Could actually VC investment rebound in the last two remaining months?

US-based foodtech startups raised $499 million, followed by the European ($251 million) and Asian ($110 million) ones.

Explore all funding rounds by clicking on the button below:

In foodtech news:

📉 As DoorDash stock hits lowest price ever, analysts track a slowdown in food delivery. User growth is reportedly slowing and the number and average value of orders is declining, putting a spotlight on Uber and DoorDash earnings this week. - MarketWatch

💸 How will we remember the age of cheap money? From Uber and Deliveroo, to quick grocery delivery apps like Getir and Gopuff, investors subsidized people’s taxi rides, takeaway meals and 15-minute deliveries of treats like beer and chocolate. These business models are now under strain. -FinancialTimes

🍖 Cultivated meat as a tool for fighting antimicrobial resistance. Antimicrobial resistance (AMR) is a global public health crisis with strong links to antimicrobial use in meat production. Producing meat through alternative methods, such as cultivated meat, offers an opportunity to decouple antibiotics from meat. - Nature

Latest foodtech deals

Select deals from last week:

🇨🇦 Ostara, a Vancouver-based water treatment and crop nutrition company, raised $70M in Series C funding to expand into the USA. Ostara produces a highly efficient fertilizer from industrial and animal waste, therefore having a renewable and clean production circle.

👨🏻‍🌾 Ostara was selected as one of the Top 100 Agritech startups to watch.

🇪🇸 Heura Foods, a Spanish plant-based meat producer, secured €20M to "accelerate growth, expand operations and its business reach".  In the first half of 2022, Huera generated €14.7M in turnover, a 93% year on year increase. Next the company plans to expand to Germany, France, Italy, Canada, Mexico and United Kingdom, among other countries. 

🌿 Explore 600+ startups working on alternative protein products, from plant-based and lab-grown meat to plant-based and lab-grown seafood and diary.

Other notable foodtech deals from around the globe: 

🇺🇸 US-based AgroSheres, a developer of crop health products, raised $22M in Series B funding to accelerate product commercialization.

🇳🇴 The Norwegian agricultural robotics company Saga Robotics has raised $9.7M to grow internationally.

🇺🇸 US-based Forsea Foods, a producer of cultivated seafood, bagged $5.2M in Seed funding. Forsea Foods has developed a platform that uses fewer bioreactors, which makes it a more cost-effective method compared to traditional cell culturing.

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.

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

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