Venture capitalists are still investing in a broad range of new and improving technology to help farmers produce their crops and consumers get the food they want and need.
The COVID-19 pandemic hasn’t stopped investment, but it is impacting where many investors are putting their money, said Seana Day, partner in Better Food Ventures. Biotech innovators and companies looking to improve the way food is delivered and presented to consumers are just some of the sectors that investors are pouring more money into amid the COVID-19 pandemic, said Day, one of four speakers in a Farm Foundation webinar Tuesday.
Cristina Rohr, principal of investments with S2G Ventures, predicted the market for online grocery delivery will quadruple by 2023. Alternative protein is another sector getting a boost after coronavirus infections shut down meatpacking plants earlier this year, exposing “challenges with the long production cycle and centralized processing facilities.”
But capital venture operations like Data Collective are also very focused on new technology such as robotics and data collection to help farmers. “The days on just investing to improve yields for farmers … has passed,” Managing Partner Kiersten Stead said during the webinar.
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