Venture capital investments into agritech and foodtech start-ups plunged in 2022 amid rising interest rates and questions over the start-ups’ business models, raising the prospect for industry consolidation and increased M&A in the year ahead.
Companies in the two sectors raised just under $30bn in 2022, down 44 per cent from a year before, according to preliminary analysis from corporate data group PitchBook.
That follows a more than doubling of investments in 2021 and an increase of a third the previous year, as entrepreneurs and start-ups raised capital and rode the wave of green investing.
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