Dive Summary:
- A diverse group of Silicon Valley venture capitalists are making big investments on food start-ups that do everything from connecting restaurants to foodies, create on-demand delivery services from local farms, or invent new foods.
- Josh Tetrick, founder and chief executive of egg alternative start-up Hampton Creek Foods, says part of the surging V.C. interest in food start-ups also has to do with improving the food industry's impact on the environment, food and animals.
- A recent report shows that Silicon Valley venture capital firms have funneled around $350 million into food start-ups in the last year, boosting investment deals 37% over the previous year, and some of the valley's top firms and names are involved, including everyone from SV Angel and Kleiner Perkins Caufield & Byers to celebrities like Bill Gates and Matt Damon.
From the article:
... “Consumers are interested in sophisticated experiences that are beautifully delivered, which we’ve seen happen on the Web and with products like the iPhone,” said Tony Conrad, a partner at True Ventures, which was an early investor in the coffee company Blue Bottle. “Now, we’re seeing that happen with food and beverage.” ...
