As AgFunder crunches the numbers for its forthcoming annual global agrifoodtech investment report, preliminary data shows that funding for cultivated meat startups peaked at $989 million in 2021, dipped slightly to $807 million in 2022 (bolstered by a $400 million round into UPSIDE Foods) and then dropped off sharply in 2023 (-78%) to $177 million, against a backdrop of a -50% drop in agrifoodtech investing overall in 2023.

Source: Cultivated meat funding nosedives in 2023