Protein bar company David recently raised $75 million and announced it had acquired Epogee, a food tech company behind a plant-based fat alternative. The deal comes as venture funding for food tech has fallen, but as M&A activity in the space appears to be on the rise. Per Crunchbase data, funding to food tech startups globally totaled $6 billion in 2024, down significantly from $14.5 billion in 2022 and $20.7 billion in 2021. It was up only slightly from the $5.3 billion invested in the space in 2023. So far in 2025, $1.7 billion in funding has flowed to food tech companies. However, M&A transactions for food tech companies in 2025 so far seem to be on track to outpace 2024. Crunchbase data shows about $4 billion worth of M&A transactions in the sector have occurred globally already this year. That compares to nearly $5.5 billion in all of 2024, and a mere $34 million worth in 2023. (Many acquisition deals don't include prices, so the figures are likely higher.) David CEO and...
learn more
