Food delivery startups are catching on with more consumers, and that demand is whetting investor appetites.
The $400 million that grocery delivery startup Instacart raised in March marked the largest deal for a U.S. food technology company in the first half of the year, according to new data from online investment marketplace AgFunder. San Francisco-based Instacart’s Series D round also led the way for California, which tops all states in deals made and dollars invested in agriculture and food technology startups.
Global investment in agtech and food startups totaled $4.4 billion in 369 deals during the first six months of the year, bucking the investment declines in the sector last year, according to the AgFunder report. It defines the agtech and food sector as technologies used on the farm, in the supply chain, by retailers, and by consumers. The report covers companies throughout the world. Read the full story here.