We're just over halfway through 2020, and already it has been a year like no other in living memory. Given the economic implications of the global Covid-19 pandemic, we've put together a mid-year review to take stock of the agrifoodtech investment landscape during these unprecedented times. Amazingly, the sector has held up well, raising $8.8 billion in total across 798 deals, according to currently available data.
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Reflecting the new realities of a world impacted by Covid-19, Midstream Technologies and Innovative Food rose to become the second and third most-funded categories after eGrocery. Midstream Tech, covering logistics, supply chain solutions, and traceability, is well on its way to beating its 2019 $2.1 billion investment total. Innovative Food, including alt-protein, has already surpassed its FY 2019 funding in H1 2020. Surging consumer demand for meat alternatives and perceived healthier options surely plays a key role in this.