Why Agtech Unicorns Struggle to Stay Afloat

Prime Future 276: the newsletter for innovators in livestock, meat, and dairy

A harsh truth that’s loomed over the last decade in agtech is that companies that have hit unicorn status ($1B valuation) have generally not maintained it. The list is not long, but the pattern has been consistent.

It’s not necessarily that they’re incapable of sustaining their billion-dollar valuations; it’s just that they haven’t done so. But why is that?

In the spirit of learning out loud, I want to share some insights about the most tumultuous agtech unicorn tumble to date, because the lessons from this story echo those from essentially every other unicorn tumble (minus the alleged fraud).

It’s the story of a little company in Southeast Asia called eFishery.

Let’s dive in (I’m not a pun person, but come on, it was right there).