Agrifood Tech Startups Raise $17B in 2018, WeWork Launches Food Innovation Lab + More

Image Source: WeWork

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

2018 was a record-breaking year for agrifood tech investment yet again. AgFunder’s latest report found that startups raised $16.9 billion, a 43% increase year-over-year growth.

WeWork Labs has officially launched its food innovation arm and will now begin investing $1 million in seed funding to a cohort of startups. The space will include areas for R&D, merchandising, a food pantry and a large event space.

A report by Euromonitor explored the effects that cannabis will have on FMCGs. It found that global sales of CBD-infused packaged foods are expected to double during the next two years.

Family farmers, rural communities and food insecure families now face a $2.2 billion cut to services in Trump’s proposed 2020 budget. And lastly, the first GMO Salmon, AquAdvantage, has hit the U.S. market after approval by the FDA.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

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1. $17B in Funding as Biotech, Robotics, Mega Asian Deals & Record Exit Create Breakout Year – AgFunder

AgriFood Tech startups raised $16.9b in 2018, a 43% increase year-over-year growth. Deal activity increased by 11%, bucking the trend across venture capital industries.

2. WeWork Is Launching a Co-Working Space for Food Startups – Eater

WeWork Food Labs is a food-centric co-working space and innovation lab that will contribute $1m in equity investments to a cohort of startups. It will include areas for R&D and merchandising, a food pantry and a large event space.

3. President’s Budget Puts Agriculture Back on the Chopping Block – National Sustainable Agriculture Coalition

Family farmers, rural communities, and food insecure families face a $2.2b cut to services.

4. Study Looks at How Cannabis Will Disrupt Food and Beverages – Food Dive

As CBD becomes more popular in a variety of categories, Euromonitor predicts it will soon become just another functional ingredient. Global sales of CBD-infused packaged foods are expected to double over the next two years.

5. GMO Salmon Headed to US Grocery Stores – Washington Examiner

The FDA announced Friday that it would be allowing AquAdvantage salmon to be imported to the US, lifting a ban that has been in place since 2016. The fish are engineered to grow twice as fast as traditional Atlantic salmon.

6. Growpacker’s New Cannabis Incubator Launches with Ceria As Its First Brand – Food Dive

The manufacturer of THC- and CBD-infused edibles and beverages is starting an incubator and accelerator program to fast track brands sold in California. CERIA Brewing Company is the first participant in the program.

7. SoftBank-Backed Nuro Launches Autonomous Grocery Delivery Service in Houston – TechCrunch

The company has expanded its partnership with Kroger to launch in Houston, Texas.

8. France: Uber and Travis Kalanick Are in Business Again. This Time, As Competitors – Bloomberg

Uber is testing a program in Paris, where it rents kitchen space to restaurants using its food delivery app.

9. India: AgroStar Gets $27M Series C to Give More Indian Farmers Increased Crop Production with Data Analytics – TechCrunch

The round was led by Bertelsmann India Investments. New capital will be used to take advantage of India’s increasing smartphone penetration in rural areas and hire more agriculture experts.

10. Women, Women of Color & Gender Non-Conforming Innovator Database

We created this open-source list to increase representation, support and investment in women, women of color & gender-nonconforming innovators in food. Join the list & help us spread the word using #womxninfood

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