Cumulative Number of Foodtech Unicorns (to Q1 2022)

In 2021, more than half of the fundraising deals sealed went towards online grocers, foodtech apps and marketplaces. In 2022, the only segment to see positive deal value gains YoY was the bioengineered foods segments – which includes functional foods, future food forms, molecular engineering, novel ingredients and upcycled foods. This might also explain why only 9 new foodtech unicorns were minted in 2022, compared to 35 in 2021. At the end of 2020, there were 64 foodtech unicorns, with half of them being food delivery players.

The number of unicorns has nearly doubled in the past two years; by the end of 2022, the world was home to 124 foodtech unicorns. The US and Asia are home to a disproportionate number, with 75% of all foodtech unicorns calling these markets home.