The accelerator has concluded the first closing of its investment fund, Europe Foodtech Acceleration Fund I SCSp, focusing on technology-based seed projects in the agri-food sector.
The new investment vehicle, worth 30 million euros, encompasses the Spain Foodtech and FoodSeed acceleration programs in Italy, with a third program set to launch soon in Europe.
Despite the global economic context, the Foodtech sector has demonstrated notable resilience in recent years. Innovative technologies and alliances among the entrepreneurial ecosystem, industry, and investors have facilitated the creation of efficient solutions to address significant challenges in the sector. As a result, the promotion of a new vertical in the food sector has been initiated, which not only offers investment and business opportunities but also generates a significant impact on the lives of people and the planet.
Eatable Adventures, one of the main Foodtech accelerators globally, has played a fundamental role in the creation and strengthening of these ecosystems, especially in Spain and Italy. These are crucial markets for the European food industry, with the agri-food sector playing a decisive role in the national economies of both countries. To support the accelerator’s activity in these countries, Eatable Adventures has unveiled the establishment of a new 30-million-euro investment vehicle, Europe Foodtech Acceleration Fund I SCSp, with the first closing already completed. Additionally, the accelerator has announced the initial investments made through this fund, totaling six million euros, encompassing nine leading Foodtech technological projects: Agreen Biosolutions, Agreenet, Hypesound, Foreverland, Néboda, Mmmico, Regrowth, Soonapse, and Trusty.
The selection of these projects has occurred within the framework of two national acceleration programs dedicated to fostering the implementation of innovative technological solutions in this sector: Spain Foodtech, implemented in Spain through a country program developed in collaboration with ICEX Spain Export and Investments and CNTA; and FoodSeed, operating in Italy as part of the national network of CDP Venture Capital Sgr accelerators, where the accelerator serves as a co-investor and operational manager. Likewise, the investment vehicle will extend its coverage to a third European acceleration program, set to launch in the upcoming months. This expansion aims to amplify the influence of these technologies on an international scale.
“The experience that we have gained over these years in the Foodtech vertical offers us a complete and precise vision of the ecosystem, which has allowed us to select and invest in the startups with the greatest development potential and fit with the needs of the sector”, commented José Luis Cabañero, Founder and CEO of Eatable Adventures. “Incorporating technology and innovation is essential to increase production, optimize resources, and reduce the environmental footprint of the food system.”
In the historical portfolio of the accelerator, global references stand out such as Cocuus, a Spanish company that has developed the world’s first 3D bioprinting plant for products of plant origin and whose products have already reached the retail channel; Ekonoke, a global leader in the cultivation of hops in a climate-controlled agricultural environment and Moa Foodtech, a pioneer company in the production of protein biomass through fermentation techniques.
Nine investments boost the Foodtech sector on an international scale
The invested companies present disruptive solutions that tackle issues such as food waste, water resource scarcity, enhanced traceability, and transparency in vital industries, innovative alternatives for crop protection, and the production of new, more sustainable, and healthier ingredients, among other areas.
- Agreen Biosolutions: a startup that proposes an innovative and efficient solution for the protection and nutrition of crops based on ozonated oils thanks to which it is not necessary to resort to chemical phytosanitary products.
- Agreenet: an innovative startup that produces biomaterials and functional materials for the preservation and packaging of fresh foods. Their solution is Pìfresc, a small seal made from a plant-based biopolymer and designed to reduce the development of microorganisms in packaged fresh products, increasing their shelf life.
- Hypesound: this startup has developed So’ Sweep, a technology that seeks to revolutionize the fermentation market using low-frequency sound waves that increase the reproduction of microorganisms by up to 300%.
- Foreverland: this startup has developed Freecao, a new ingredient derived from carob, which reduces CO2 emissions by 80% and water consumption by 90% compared to cocoa production. In addition, it has 50% less sugar, making it a healthier option.
- Néboda: an innovative startup that has developed a revolutionary automation technology that, applied to the vertical farming technique, allows the development of a high-density, low-cost cultivation system, maintaining high-quality standards and avoiding possible contamination.
- Mmmico: a startup that has adopted a highly scientific approach, combining techniques such as fermentation, directed evolution, and artificial intelligence, to develop new natural ingredients that replace their synthetic analogs in record time and cost.
- Regrowth: an innovative startup that develops cutting-edge Precision Livestock Farming (PLF) solutions to provide farmers with the necessary tools to improve their production, making it sustainable and efficient.
- Soonapse: a startup that has developed Ploovium®, a patented AI solution for irrigation and water stress management, which provides a 5-day forecast of the water stress level of soils, crops, and the environment, with greater than 99% accuracy.
- Trusty: a startup specialized in blockchain-based traceability solutions for the agri-food sector, and specifically, for the cocoa industry. Its platform not only allows transparent transactions between responsible producers and the industry but also offers microfinancing opportunities.