The US still dominates investment in the agri-foodtech space, with 44% of all fundings last year taking place in the country. But while deal numbers and investment value actually decreased Stateside compared to 2018, other geographies picked up the slack – with one non-US startup banking 2019’s biggest funding across the sector.
According to AgFunder’s Agri-FoodTech Funding Report 2019, the US saw 653 agri-foodtech deals last year, worth a total $8.7 billion. This represented a year-on-year decrease in both deal numbers and overall investment value.
Meanwhile, markets in Asia Pacific, Africa, and Latin America grew to offset the States’ slight slowdown.
Colombia, the UK, the Netherlands, Spain, and South Korea were among the top risers when it came to investment in dollar terms. Countries including Japan, India, Mexico, Kenya, and Singapore saw an increase in the number of deals.
China and India remain the biggest agri-foodtech investment markets outside the US. China clocked $3.2 billion in investment across 181 deals last year, with India notching up $1.3 billion across 152 deals. Investment value was down for both countries compared to 2018, though India saw an increase in the number of deals.
Here are the top 15 non-US fundings of 2019 (note that Spain’s Glovo had two funding rounds during the year, both of which place in the top 15 by deal value). Of the 15 ex-US deals, five involve Chinese startups: