According to Tracxn, a start-up tracker, 589 food tech start-ups were founded in 2015, of which 49 got funded. The number of food tech start-ups founded shrunk significantly to 93 this year, of which only 24 attracted venture capital firms. Investment into food tech start-ups in 2016 stood at $115.2 million, of which food delivery start-up Swiggy alone accounts for $57 million. Ltd, one of the most well-funded start-ups in the segment, merged with hyperlocal delivery start-up Roadrunnr in June this year. Ltd, the most funded home-grown food tech start-up, with about $224 million in its war chest, trimmed its workforce last year.

Source: Mint October 23, 2016 19:18 UTC