14 May 2020
Investments in foodtech world market dropped three times in the first quarter
MOSCOW, 14 may – PRIME. Investments in foodtech market (innovations in food products sector) dropped three times in per year terms in the world in the first quarter of 2020, down to $1,531 bln – according to the available to RIA Novosti report of «Fuel for Growth» Fund.
«In the first quarter of 2019 there were 292 bargains amounted to $4,616 bln. In the first quarter 2020 – 141 bargains (reduction by 52%) amounted to $1,531 bln (reduction by 67%)» – according to the report.
Most big bargains in foodtech-sector this year were in the USA, India and China. In 2019 apart from mentioned above countries investors were interested in the UAE, Great Britain and Sweden.
«The pandemic has modified the venture market. According to «PwC», the global volume of investments reduced by 20%, foodtech share suffered by one third. … Now, there is an active development of the sector of food products delivery – it is a continuation of the trend «online to offline» that potentially has a lot of opportunities, therefore investors are actively invest in it», - managing partner of the venture fund «Fuel for Growth» Andrey Zyuzin commented.
«Fuel for Growth» venture fund was opened in September 2019. It is focused on investments into foodtech: projects able to change globally the food industry aimed at popularization of a healthy lifestyle, ecological balance maintaining and food safety improving. Volume of the fund – $50 mn, EFKO Group is a key partner and anchor investor.