Back in 2019, European Agri-FoodTech startups collectively raised $3.4B (approx €2.9B) funding, a 70% YoY growth, according to research firm AgFunder in collaboration with F&A Next. In 2020, the COVID-19 pandemic has ruined it for everyone, impacting the food industry and consumer eating habits.
Even though the picture is not so rosy right now, many Agri-FoodTech VCs worldwide consider themselves comparatively as the Agri-Food industry falls under the essential industry; making it quite resilient to downturns.