Spanish foodtech startups are attracting higher investments, even from initial rounds. As a result, investment in foodtech projects has experienced an important growth during 2021 reaching a total of 695 million euros. This represents a 220% increase compared to 2020, which demonstrates the potential of the foodtech sector in the coming years.
The investment momentum is determined by a set of relevant factors: greater knowledge of the sector by non-specialized national investors, the entry of international venture capital with bets similar to those of more developed ecosystems, and access to larger rounds by more mature startups and scale ups.
The Barcelona-based multi-category delivery startup landed the largest funding round for a Spanish startup earlier this year of 450 million euros. Glovo’s intention is to use the investment to expand their presence in their existing 20 markets, plus focus more on the Q-Commerce (Quick Commerce) division.
BioTech Foods is a Spanish start-up founded in 2017 with the mission of producing and commercializing cultured meat. JBS, the Brazilian meat giant, is looking to expand into the cultured meat sector and invested 36 million euros on BioTech Foods to enable the firm to build an industrial plant in the Basque Country with the main objective being to have the new plant ready in 2024, when commercialization is expected to begin.
Most famously known for their vegan chicken alternative, foodtech startup Heura received 16 million euros in funding. The funds will go towards developing vegan pork and increasing its global expansion, especially in the British and American markets. This investment came just weeks after Heura’s crowdfunding campaign that raised 4 million euros in just 24 hours.
Biome Makers raised 15 million dollars to secure their position as a global leader in biological soil analysis. The funds will go towards accelerating the global expansion of BeCrop® as the industry standard for functional soil analysis and sustainable soil health recovery, and Gheom® as an independent assessment program measuring the impact of crop inputs and farming practices to support a personalized agriculture.
CrowdFarming raised 15 million euros to facilitate the entry of new producers onto its platform, improve its logistics and help more producers obtain EU organic certification. The startup’s mission is to democratize the food supply chain through direct sales to the end consumer, for which they have developed a marketplace where customers can access products in this way.
Download Eatable Adventure’s Report THE STATE OF FOODTECH IN SPAIN 2021 here.