Season’s Greetings! With the holiday season fast approaching and 2024 wrapping up, we wanted to take a moment to reflect on what we’ve been up to over the past few months at Rethink Food and what we’re excited about heading in 2025.
The Future of Farming is Autonomous: Introducing Agtonomy
Picture this: tractors that drive themselves, drones soaring overhead to monitor crops, and robots that pick your produce – welcome to the world of autonomous agriculture, a transformation reshaping the future of farming and food.
As labor shortages and rising costs challenge farmers worldwide, these innovations are delivering real solutions – helping growers save up to $800 per acre, reducing chemical usage, boosting productivity with round-the-clock operations, and promoting sustainable practices. It’s a smarter, greener way to farm, and it’s only just begun.
With the global market for agricultural robots and autonomous equipment projected to reach nearly $20 billion by 2030, we’re thrilled to announce our investment in Agtonomy, a pioneer at the forefront of this transformation.
Founded by Tim Bucher, a farmer with 30 years of tech experience, Agtonomy combines agricultural expertise with cutting-edge technology to make autonomous solutions accessible for farms of all sizes. The company’s TeleFarmer platform enables tractors and machinery to operate autonomously, enhancing efficiency and precision.
Instead of creating autonomous tractors from scratch, Agtonomy partners with original equipment manufacturers (OEMs) to integrate its technology into existing machinery, making adoption cost-effective and scalable. With key partnerships with Bobcat and Kubota, Agtonomy is positioned for rapid growth, with commercialization set to begin in 2025.
Focused on labor-intensive specialty crops like vineyards, citrus, and berries, Agtonomy is addressing the needs of growers facing high labor costs and shortages. Their solutions are helping farmers achieve more with less, supporting a more resilient and sustainable agricultural future.
At Rethink Food, we’re excited to back Agtonomy’s vision for revolutionizing agriculture. The company’s autonomous solutions are a prime example of how innovation is reshaping the future of food production. Technologies like these will play a critical role in the trends and opportunities we expect to shape the FoodTech landscape going forward.
2025 FoodTech Predictions
[TLDR: In 2025, we predict FoodTech will grow through AI advancements, increased VC funding, policy-driven automation, Food as Medicine, and sustainability.]
As we look ahead to 2025, many of the trends already shaping the FoodTech landscape will continue to evolve. Here are the top five trends and opportunities we anticipate will drive FoodTech investing in the year ahead:
- Algorithms to Alchemy – AI and Machine Learning will Continue to Thrive
Early-stage companies leveraging AI-automation and generative AI will remain hot targets for FoodTech investment in 2025, as AI continues to revolutionize the food system from farm to fork.
In agriculture – AI-powered tools can optimize planting schedules, monitor crop health through satellite imagery and sensors, and enhance yield predictions, helping farmers adapt to climate variability. (See Agtonomy for an example of how this is being done.)
In food processing and manufacturing – AI can improve efficiency by automating quality control, reducing food waste, and tailoring recipes to consumer preferences. AI also streamlines supply chains with demand forecasting to minimize shortages and overstocking.
In retail – AI enhances customer experiences with personalized recommendations and dynamic pricing, while in food safety, it quickly detects contaminants, ensuring safer products.
- Interest Rates Drop, VC Interest Pops
As the Federal Reserve’s actions to curb inflation take hold, we anticipate lower interest rates will create a more favorable environment for venture capital and early-stage companies in 2025. This trend is expected to increase capital availability, elevate early-stage company valuations, and support greater risk-taking. With a more accommodating economic climate, we foresee strong momentum driving innovation and investment in the year ahead.
- Borders May Bite – Navigating Policy Shifts in FoodTech
The incoming U.S. administration’s policy changes present both challenges and opportunities for the FoodTech sector in 2025. While tariffs may pose obstacles for early-stage companies with international supply chains these challenges can also drive innovation in sourcing and supply chain optimization. Additionally, with over 40% of agriculture working being undocumented potential immigration reform could significantly impact the availability of agricultural labor, creating a strong case for increased investment in automation and robotics (Agtonomy plug, yet again). These shifts may accelerate the adoption of cutting-edge technologies in food production, offering a unique opportunity for FoodTech companies to lead the way in efficiency and sustainability.
- Farm vs. Pharmacy – The Rise of Food as Medicine
The “Food as Medicine” trend may accelerate in 2025 as health-conscious consumers increasingly turn to nutrition to prevent and treat illness. With growing awareness of the link between diet and chronic diseases, people are seeking foods enriched with functional ingredients like antioxidants, probiotics, and adaptogens to support immunity and overall wellness. Advances in nutritional science and personalized health solutions are making it easier to find foods tailored to individual health needs, driving this shift from niche to mainstream and reshaping the food industry. Our portfolio company Brightseed is an example of a company driving innovation in this category through their AI-powered “Forager” technology.
- Eco on the Menu – Sustainability Takes Center Stage
Despite potential shifts in climate policies under the incoming U.S. Federal Administration, consumer awareness of the environmental impact of food may drive a continued shift toward sustainable choices in 2025. Many consumers now consider factors like carbon footprints, water usage, and production costs when selecting meals, fueling demand for plant-based products, locally sourced ingredients, and eco-friendly packaging. Our portfolio companies OMeat and Mealogic are well poised here. Terms like “regenerative agriculture” and “low-carbon diets” are entering the mainstream as consumers prioritize that align with their values of environmental stewardship. As climate change remains a key global issue, the connection between food systems and the environment will shape both consumer behavior and industry innovation. We expect this to continue to provide tailwind for another one of our portfolio companies, Planet FWD.
We’re eager to see how these trends continue to evolve in the year ahead. Many of the companies in our portfolio are already leading the charge—Agtonomy is revolutionizing autonomous agriculture, Brightseed is uncovering natural compounds to restore human health, Planet FWD is enabling easier disclosure of environmental impacts of food, and more. We look forward to seeing these innovations thrive and capitalize on these dynamics in 2025 and beyond.
Portfolio Company News and Happenings
Before we get too far ahead of ourselves, let’s first take a moment to reflect on the recent achievements and milestones from our portfolio companies over the past few months.
Phytoform officially announced its precision-bred tomato variety that produces up to 400% more fruit over one year than conventional tomatoes and is one-sixth the size. Expected to commercialize in 2025, Phytoform’s tomato product is just the beginning of how this team is transforming the future of food to be more efficient and sustainable.
Brightseed was named to TIME’s Best Inventions of 2024 list for its work using AI to identify compounds in nature that can help benefit human health.
Kernel opened its second store location at 15 East 4th Street in NYC, with both locations offering an updated menu that includes chicken options and extended hours from 11 a.m. – 8:30 p.m. Monday through Friday. If you’re in town, make sure to check it out!
Territory rebranded to Mealogic, reflecting its new business model as a white-label platform for lifestyle brands entering the meal delivery space. The company has launched a B2B “food as medicine” platform, connecting health-conscious consumers with chef-driven, medically tailored meals.
Agtonomy CEO Tim Bucher was recognized by the World Food Prize Foundation as a Top Agri-Food Pioneer, reflecting the dedication of this team to advancing AgTech and sustainable practices.
Team Updates
- Our first-ever AGM: Thank you to everyone who joined us for our first-ever Annual General Meeting last fall! We loved connecting with you all in-person and exchanging insights on the sustainability and market trends, hearing presentations from the fabulous Shalini Unnikrishnan from BCG, Julia Collins from Planet FWD, and Steve Ells from Kernel, and of course, enjoying a fabulous lunch from Kernel. A special shoutout to our speakers for sharing their time with us and Goodwin for hosting us in their beautiful space.
- Conference Circuit: Our Managing Partners, Rini Greenfield and Brad Jakeman, were on the conference circuit these past few months, with Rini speaking on how AI is reshaping VC at the Women’s Private Capital Summit and on VC opportunities in Miami and Latin America at the Opal Group LATAM Investment Convergence Summit.
- Meeting Royalty: Brad recently met with His Majesty King Charles III to discuss the important work His Majesty’s Circular Bioeconomy Alliance is leading around the world to help build a sustainable future for generations to come, which is closely aligned with our mission at Rethink Food. Rethink Food is proud to help the CBA launch its newest BioLab in Sydney, Australia.
- Puppy Alert: Viktoriya Lushkova on our IR team gained a new family member this holiday season… everyone say hi to the adorable Waffles!!
- New Home: Peyton Murray, also on our IR team, parted ways with the Windy City and moved to NYC… finally!
Looking Ahead to the New Year
- Viktoriya is running the London Marathon in April, her 4th Marathon Major, in support of Rainbow Trust Children’s Charity, an incredible organization that helps families caring for a child with a life-threatening illness. If you are inclined to support, you can donate here.
- Rini will be discussing all things FoodTech on a panel at the 2025 With Intelligence Women’s Venture Capital Summit, February 4-6.
- After a hectic year of fundraising and investing, Brad is cocooning at home for the holidays with his partner Ryland and his mom who is visiting from Australia.
- Rini will be celebrating the holidays with her extended family in Vero Beach going to the beach with her kids, playing tennis, and challenging her overly competitive husband and brother-in-law in pickleball.
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