Biotechnology and Food Technology
Your Weekly Shortcut to Deeptech Investing—Exclusive Trends & Startup Reports for VCs & Angels in Just 5 Minutes
By Fran Antequera, Deeptech Expert
What is going on?
As the population continues to grow, the imperative need to find sustainable solutions to meet the needs of people while preserving the health of our planet and ensuring the welfare of both animals and humans becomes increasingly evident. This holistic approach to health and is commonly referred to as "One Health"1. Normally One Health solutions revolve around agriculture, veterinary and medicine, but there is one field that can enhance biodiversity, decrease livestock numbers, and reduce pharmaceutical use, FoodTech.
FoodTech, the use of disruptive digital technologies along the agri-food chain, could be essential to eradicate hunger without a massive increase in food production2. In the realm of cutting-edge technologies, the triumvirate of Synthetic Biology (SynBio), Internet of Things (IoT) and Artificial Intelligence (AI) is orchestrating a symphony of innovation. Since it has already been discussed methods to optimize agriculture, the focus of this article will revolve around investment opportunities in the application of SynBio for designing more nutritious foods, producing alternative protein sources, and reducing food waste.
What does it mean?
According to "SynBioBeta 2023 Investment Report" startups in food & nutrition attracted $55 million in the first quarter of 20233. Investments are usually directed to these verticals:
Customized Nutrition: SynBio can tailor to individual health needs, offering personalized diets and nutritional solutions by reducing fat or carbohydrate content or increasing protein, fibre or vitamin content4.
Food Safety and Security: SynBio is employed in ensuring food safety and security by developing innovative methods for food preservation, pathogen detection, and quality control, like whole-cell biosensors5.
Alternative Protein Production: SynBio is instrumental in the production of alternative proteins like lab-grown meat and plant-based proteins, in addition to animal-free dairy and eggs. These innovations can address sustainability and ethical concerns in food production6. Precision Fermentation plays a key role here, using SynBio techniques to modify and control microorganisms to produce proteins efficiently and sustainably7.
Reduction of Food Waste: By optimizing food production processes, SynBio can contribute to reducing food waste and ensure a more efficient use of resources, generating value-added products from agro-industrial waste8.
Why does it matter?
💸For markets:
SynBio applied to FoodTech disrupts traditional markets and offers a dynamic landscape for investors, with opportunities spanning alternative proteins, fermentation technology, sustainability, and innovative food products. Indeed, according to MarkNtel Advisors' research report, "Global Synthetic Biology in Agriculture and Food Market Analysis, 2021"9, the market is likely to grow at a CAGR of around 35% during 2021-26. This market growth is credited to high demand for ethical, sustainable, healthy and efficient solutions to meet food needs.
As this field continues to evolve, investors can play a crucial role in shaping the future of the food industry, although it's essential to conduct thorough due diligence, assess the technology's scalability and commercial viability, and stay updated on regulatory and consumer acceptance considerations.
🧑🏿🤝🧑🏻For society:
FoodTech matters for society because it has the potential to address critical societal issues related to health, sustainability or food access. By leveraging technology and innovation, FoodTech contributes to the betterment of society as a whole, enhancing the quality of life for individuals and communities around the world.
🔮What’s next?
The future of SynBio in FoodTech involves a continued focus on sustainability, innovation in alternative protein sources, improved scalability, and enhanced regulatory guidance. These developments aim to revolutionize the food industry, helping to solve the problem of food safety, eliminating the presence of nutritional deficiencies in food and offering consumers more choices that align with their dietary preferences and global sustainability goals.
World Health Organization. One health. (2023, April 12). Retrieved from https://www.who.int/europe/initiatives/one-health
Renda, A. (2019). The age of foodtech: Optimizing the agri-food chain with digital technologies. Achieving the sustainable development goals through sustainable food systems, 171-187.
SynBioBeta 2023 Investment Report. Insights into Synthetic Biology Trends. SynBioBeta article published on May 10, 2023. Website: https://www.synbiobeta.com/
Tyagi, A., Kumar, A., Aparna, S. V., Mallappa, R. H., Grover, S., & Batish, V. K. (2016). Synthetic biology: applications in the food sector. Critical Reviews in Food Science and Nutrition, 56(11), 1777-1789.
Chen, S., Chen, X., Su, H., Guo, M., & Liu, H. (2023). Advances in Synthetic-Biology-Based Whole-Cell Biosensors: Principles, Genetic Modules, and Applications in Food Safety. International Journal of Molecular Sciences, 24(9), 7989.
Lv, X., Wu, Y., Gong, M., Deng, J., Gu, Y., Liu, Y., ... & Chen, J. (2021). Synthetic biology for future food: research progress and future directions. Future Foods, 3, 100025.
Chai, K. F., Ng, K. R., Samarasiri, M., & Chen, W. N. (2022). Precision fermentation to advance fungal food fermentations. Current Opinion in Food Science, 47, 100881.
Narnoliya, L. K., Jadaun, J. S., & Singh, S. P. (2018). Management of agro-industrial wastes with the aid of synthetic biology. Biosynthetic technology and environmental challenges, 11-28.
MarkNtel Advisors. Global Synthetic Biology in Agriculture & Food Market Research Report: Forecast (2021-2026). (2021, April). Retrieved from https://www.marknteladvisors.com/research-library/global-synthetic-biology-agriculture-food-market.html
Further reading
John Cumbers interview for AgFunder about SynBio in AgTech and FoodTech: https://agfundernews.com/synthetic-biology-in-food-ag-were-just-getting-started-says-synbiobeta-founder-biology-isnt-easy-to-engineer
✨ That’s all for today. Thanks for reading !
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