As we all “shelter in place” and “socially distance” ourselves, we are learning a lot about what we can live without. And what we can’t.
Agri-foodtech investors seem to be collectively counting their blessings in that respect.
“We probably have it better than many of our generalist VC peers because the only thing people are buying right now is food. The one thing they’re allowed to go out and do is go to the grocery store,” Mark Kahn, co-founder of Mumbai-based venture capital firm Omnivore, tells AFN.
AFN has been hearing similar versions of that line from agri-foodtech VCs worldwide amid the Covid-19 pandemic, where day-to-day businesses are shuttering, startups and small businesses are rapidly laying off workers, and individuals, communities, and markets prepare for an ensuing economic downturn.