Foodtech companies raised $62.7 million across 47 deals in the first half of the year, according to a new study by the Canadian Food Innovation Network (CFIN). Foreign investors led the two largest equity deals—Miraterra Technologies’ $16-million round and NS/TX Industries’ $14.7-million fundraise. There were no Canadian-led deals at the Series A stage or later. (The Logic)

Talking point: The report noted that while there’s a “sturdy base of early-stage capital” for foodtech startups in Canada, there’s not enough money to help them grow beyond the seed stage. CFIN identified just 10 private capital deals in the first half of the year, worth a combined $52.9 million, with seven of those transactions less than $5 million. Those that do go on to raise larger rounds often rely on foreign capital. “That isn’t a loss on its own,” the report reads, “but it means the upside of scaling accrues increasingly to outside investors.”

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