The long, tough slog

Rising interest rates, inflation and too few repeat purchases have forced investors of all stripes to tighten their metrics and their purse strings over the last 18 months — ironically, hitting later-stage startups the hardest, just as they are approaching or reaching the point of having a market presence.

New data from PitchBook adds context to this business phase, and perhaps a warning that food-tech funding will remain tight for the foreseeable future.

In 2023, venture…