Reflecting on a Decade of Agrifoodtech Innovation
A decade ago, the agrifoodtech sector experienced a pivotal moment that would shape its trajectory for years to come. It was the year Michael Dean and Rob Leclerc founded AgFunder, an investment platform with a vision to transform the agriculture and food sectors through innovation and technology. This vision was shared by many, but it was also the year of a landmark acquisition that would send ripples through the industry: Monsanto’s purchase of Climate Corporation for a staggering $1 billion.
The Monsanto-Climate Corporation deal remains one of the most significant in the history of agrifoodtech. At the time, Climate Corp’s founder Dave Friedberg penned a thoughtful letter to his employees, justifying the sale to a company that was, at the time, widely criticized and even labeled as “evil.” Friedberg’s message was a poignant one, highlighting the misinformation and inaccuracies that plagued the industry. It was a call to base decisions on solid science, thorough research, and contextual understanding.
Fast forward to today, and AgFunder stands as a testament to that call for integrity. As AgFunder and AgFunderNews celebrate their 10th anniversary, they have remained committed to the principles of objectivity and accuracy. Their investment team and editorial staff operate independently, ensuring that the information shared and the decisions made are informed and transparent.
In commemoration of their journey, AgFunder has released an 83-page special report that delves into the last decade of agrifoodtech. This comprehensive e-zine is not just a reflection but also a celebration of the community’s growth and the myriad of individuals who have contributed to its success. From startups to researchers, and from academics to investors, the report highlights the collective efforts that have propelled the industry forward.
The e-zine includes a variety of content, from data and interviews to analysis, providing readers with insights into the key developments that have occurred over the past ten years. Some of the highlights include a reflection from David Friedberg on the decade since Climate Corp’s acquisition, a detailed look at funding trends, the top 30 agrifoodtech deals from 2013 to 2023, and the most notable exits in the sector.
Moreover, the report addresses specific segments within agrifoodtech, such as the indoor agriculture space, which is nearing what some call ‘the plateau of enlightenment,’ and the cultivated meat industry, currently at a critical juncture. It also features an examination of the Farmers Business Network’s ten-year journey and a candid discussion about companies like Eat Just and Impossible Foods, which have both faced their share of praise and scrutiny.
The implications of this report are vast. It serves as a comprehensive resource for anyone interested in the evolution of agrifoodtech and provides a nuanced understanding of the challenges and opportunities that lie ahead. For entrepreneurs and investors, it’s a treasure trove of insights into where the industry has been and where it’s headed. For policy-makers and academics, it offers a factual basis to inform future decisions and research directions.
As the agrifoodtech sector continues to grow and evolve, the need for informed decision-making becomes increasingly critical. AgFunder’s commitment to providing accurate, science-based information is more important than ever as the industry seeks to address global challenges such as food security, sustainability, and climate change.
The special report is a reminder that while the agrifoodtech sector has come a long way over the past decade, the journey is far from over. It’s a call to action for continued innovation, investment, and collaboration to ensure that the next decade is even more successful, not just for the industry, but for the planet as a whole.