VC Roundup | Foodtech in China is not just about grocery delivery

Food technology is gaining traction in China’s VC world. It’s a huge industry—from plant-based meat to agricultural drones, foodtech encompasses everything in the food supply chain that uses technology to improve efficiency and output.

So far, grocery delivery has garnered the most attention. The sector saw a boom thanks to pandemic-induced demand for everyday items on e-commerce platforms. 

This year, tech giants like food delivery platform Meituan and e-commerce firm Pinduoduo have tapped into the market. Meanwhile, venture capitalists have injected billions of dollars into startups to compete with them.

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