Tag Archive for: food startups

Mylkcubator, the global incubation program for cellular agriculture technologies in the dairy industry, kicks off its second cohort

The incubator will help the selected startups in their business and R&D advancement strategies, preparing them for growth and investment rounds.

Pascual, a leading Spanish manufacturer of dairy products and beverages, has launched Mylkcubator 2.0, the second edition of the global incubation program for cellular agriculture technologies in the dairy industry. The initiative has been launched from the group’s Corporate Venture unit, Pascual Innoventures, in collaboration with Eatable Adventures, one of the top three global foodtech accelerators. The first edition of the program had recently been completed by four disruptive startups worldwide.

Mylkcubator 2.0 will last 6 months, from selection to the demo day. The goal is to enroll a new cohort of up to 5 startups or scientific projects, with innovative solutions in the cellular agriculture spectrum for the dairy industry within the following technologies: molecular farming, fermentation based, cell based, and applied technologies in this field. All the details about the program are available on the official website mylkcubator.com.

Pascual Innoventures has flexible venturing models that build, collaborate and support Foodtech startups in its early stages. The incubator will help the selected startups in their business and R&D advancement strategies, preparing them for growth and investment rounds.

In the words of Gabriel Pascual, director of Pascual Innoventures “The quality of the startups selected in the first edition has been amazing and shows us that this is, clearly, the way to go. The visibility of these projects as well as the investment rounds that they are receiving is a sign that the industry is prepared for this technological transition. Pascual has been a pioneer in shaping the path of innovation and non-conformism. An attitude that has been hatched generation after generation from my grandfather until our generation”.

On the other hand, José Luis Cabañero, CEO and founder of Eatable Adventures, has remarked “Mylkcubator has attracted the attention of companies, technology centers and professional investors from all over the world demonstrating that there is a great opportunity in the market to implement scalable technological solutions to future proof the dairy industry”. Proof of this is that investment in the dairy segment has tripled in 2021, compared with 2020, according to Dealroom data analyzed by Eatable Adventures.

The production of dairy products using cell cultures and fermentation techniques, that are complementary within the dairy industry, demonstrate industrial and commercial viability and presents a huge opportunity for the sector from both an economic and environmental point of view.

 

Mylkcubator website: mylkcubator.com

Meet the Alumni: Moon Water

Moon DrinksNacho Alonso, CEO and Founder of Moon Drinks, was hooked on traditional soft drinks for years and, fed up with not finding a healthy alternative on the market, decided to become an entrepreneur and make healthy soft drinks a reality. “The best way to predict the future is… to invent it,” he says. That’s how he founded Moon Drinks SL., the organic and vegan soft drinks company he is running today.

Find out how Eatable Adventures Accelerator Program helped him scale his business, what advice he has retained, and where he sees Moon Water going in the future.

 

  1. When and for what purpose was Moonwater born?

The project was born at the end of 2017 and has evolved a lot over the years. Our purpose is to contribute to improving the quality of life of people and the planet by creating healthy and sustainable alternatives to traditional beverages.

 

Traditional soft drinks have not changed their formulas for decades nor adapting or incorporating industry advances and consumer demands. Traditional drinks still rule the market, but they have become obsolete. Consumers are unaware of the alternatives that may exist, and therefore need to be informed about them.

 

  1. How did you come up with the formula for your soft drinks, and how does it differ from other soft drinks?

It has been a very long and laborious process. The current formula wasn’t found until May 2021 (almost 4 of work). We have launched four versions of our product on the market, and it was consumers and customers who validated it. Because of this, you could say the product was not created by us, but by the consumer only two red lines: we do not compromise health nor sustainability, which are core values for us.

 

As opposed to traditional soft drinks, we use 100% natural and organic ingredients, with very little sugar and low-calories. Our bubbles are soft, pleasant to the taste, and our flavors are not the traditional ones, we offer innovative flavor combinations that are truly delicious. Our business is to provide new experiences for consumers. In addition, our products are packaged exclusively with aluminum, the most sustainable material for packaging now a days .

 

  1. How did the Eatable Adventures Accelerator Program help you scale your project?

The experience was truly BRUTAL, completely changing the way we viewed the industry, better understanding the global market, and providing us with the tools we needed to reach our goals. And I can’t forget the most important thing, an amazing team on a professional and personal level.

 

  1. How do you see the future of Moonwater?

Our company is called Moon Water, we started this “revolution” with the soft drink category by launching Moonwater, but we are developing new products. We have already created an organic energy drink that is a healthy alternative to energy drinks that we plan to launch this year.

 

While we continue to work on new products and trends, we will also strive to improve existing products, incorporating all the new technologies, both at the production level and in packaging, and improving the entire value chain.

 

We are very happy with the evolution, we can’t believe it. The company is growing fast in Spain but also abroad, with a strong presence in the Netherlands, Belgium, Switzerland, Denmark, Sweden, Qatar, etc. Our goal is to bring Moonwater to every corner of the world.

 

  1. What is the most valuable advice José Luis has given you during our Acceleration Program?

That the product had to be at the peak of our project, which is why we will never be completely satisfied with our products, because we are firm believers that everything can be improved, no matter how good it is.

Cocuus

Spanish startup Cocuus raises €2,5M in Funding to scale its 3D bioprinting technology for the production of alternative proteins

This round was led by Big Idea Ventures, Cargill Ventures, Eatable Adventures and Tech Transfer Agrifood.

The Spanish startup Cocuus has raised 2,5 million euros in its Pre Series A funding round for its innovative process for producing plant or cell- based animal protein food analogs. The company achieved this round after completing Eatable Adventures acceleration program, one of the top three globalaccelerators for foodtech startups.

The round was led by Big Idea Ventures, the global alternative protein fund, the U.S. multinational Cargill Ventures, the Spanish accelerator Eatable Adventures and Tech Transfer Agrifood. With a capital injection of this size, the startup can scale its business model and expand into other international markets, enabling them to utilize their disruptive 3D bioprinting and robotics technologies to create more sustainable and nutritious food products.

Patxi Larumbe, CEO and founder of Cocuus states “We are very proud to have attracted the interest of international investors with this round of financing. Thanks to this capital injection we will be able to bring our technology within reach of corporations that want to print proteins on an industrial scale”. In addition, the Founder and Managing General Partner of Big Idea Ventures, Andrew D Ive, also highlights “At Big Idea Ventures, we invest in technology which impacts the alternative protein industry’s entire value chain. Cocuus’ technology addresses a major pain point of structured plant- and cell-based meat production methods scalability. We are thrilled to support this innovative team and we look forward to
seeing their scalable food technology making an impact across the world.”

On the other hand, José Luis Cabañero, CEO and founder of Eatable Adventures notes, “The Spanish foodtech startups’ ecosystem is consolidating very quickly, attracting major investors and international corporations. Through Eatable Adventures, we offer our services to startups and corporations around the globe to accelerate the process of transformation and innovation in the food value chain”.

As Cabañero points out, this current environmental and world population scenario calls for a rethinking of production methods to achieve a much more sustainable and efficient food system. According to FAO data, in 2050, in order to feed a population of 9.1 billion, food production will have to increase by 70% and meat production by more than 200 million tons.

Cocuus, along with MOA Foodtech, Proppos, H2hydroponics, and Innomy have been selected as finalists for the first edition of Spain Foodtech, the acceleration program of Eatable Adventures supported by the National Center for Technology and Food Safety (CNTA) and ICEX Spain Export and Investment.

Cocuus has been awarded by the international Quality Innovation Award (QIA) in the category of Innovation in Microenterprises and Startups, after winning the 2021 national award.

Meet the Alumni: Proppos

Artificial intelligence has become a fundamental pillar of the food industry these days. This new technology has a purpose throughout the entire agri-food chain, innovating, streamlining, and improving processes within the sector allowing it to offer a better service, quality, and product to consumers. 

Proppos

We had the opportunity to interview Nil Salomó Bellavista, CEO and Co-Founder of Proppos, an artificial intelligence company specializing in food recognition, which together with its partners, offers first-class A.I. payment solutions to the Food and Retail industries. Proppos’ mission is to transform the payment experience through an accurate, autonomous, and accessible computer vision solution. 

Read on to learn firsthand how the idea for the company came about, future goals, his views on how artificial intelligence will change the world, and more.

 

How did the idea of starting Proppos come up?

While working in the food sector, specifically in a catering company within the IT team, we observed the need to speed up the queues in the food service business, yet without increasing costs. The most feasible and optimal solution was to automate the payment system using artificial intelligence and computer vision technology.  The products we were selling consisted of natural products, with no barcode, making AI the technology of choice for this project. From this idea, we started to conceptualize the Proppos concept in 2019. 

What stage of the project were you in when you entered the Eatable Adventures Accelerator Program and how do you consider you have come out? 

We entered the Eatable Adventures Accelerator Program in the very early stages of the project, but already had a validated MVP and some market traction.

Throughout the program, our ideas were maturing and becoming more formalized. Our project was much clearer at the end of the program, both in terms of funding, processes, and relationships with companies. 

Do you have new innovations in mind for Proppos? 

Absolutely! Our goal is to diversify our customers as much as possible within the food service sector. 

At the very beginning of our project, we were faced with the challenges of the global pandemic, in which the whole catering sector was forced to close to the public. Having a new and innovative project focused on the food service sector slowed down the integration process as we had to explain and show our customers what Proppos was all about. Like everything else, the sector had to innovate, and with this new opportunities appeared for us for implementing our technology in the food sector, from order tracking in the fast-food sector, to monitoring food safety in clinics and hospitals.

In what ways do you think artificial intelligence is going to reshape the world? 

It certainly has already been doing so. Gradually, before we know it, we will be involving artificial intelligence in our day-to-day lives. The first step will be to use tools like ours to automate monotonous and simple task processes, streamlining human daily life, saving time, and allowing workers to focus on more value-added reasoning tasks.  

What has been the best advice Jose Luis has given you?

He has helped and advised us in many different areas, but especially in terms of investment and how to focus when it comes to seeking investment rounds. Thanks to him we understood the importance of expanding and searching for investment at an international level to be able to scale the company and generate money in a sustainable way.

 

Learn more about Eatable Adventures’ alumni by visiting more interviews in our blog.

Unmissable Foodtech Events in 2022

foodtech events in 2022

Get your calendars ready for all the exciting foodtech events in 2022!

2021 proved the industry’s resilience when faced with a global pandemic by quickly shifting years of dynamic face-to-face events to an online format in a matter of months. Thankfully, we are slowly getting back to a pre-covid world and foodtech events all over the globe will mostly offer a hybrid in-person and online experience.

January

January 18-20
Fermentation-Enabled Alternative Protein Summit

This is the only industry-led event designed to scale-up production platforms to commercialize clean-label, animal-free, and regulatory-approved alternative meat, dairy, eggs, and functional protein ingredients. The in-person event will explore key challenges and opportunities in the successful commercialization of fermentation-enabled alternative proteins for human consumption.

March

March 8-10
The Future of Protein Production Summit

The Future of Protein Production Summit is an event targeting companies involved in making the global food system more sustainable. Over 1000 attendees are expected to converge online for the three-day virtual conference, which will showcase the latest research and trends to help develop sustainable production technologies and exploration of highly sustainable processes and solutions to help make the global food system more sustainable, kind, and fair for the planet, people, and animals.

Use our exclusive code FPPEAA20 to save 20% off your ticket. 

March 22-23
World Agri-Tech Innovation Summit

The event will take place in San Francisco and will gather 1,300+ global agri-food corporates, investors, and technology start-ups from around the world to uncover the most exciting innovations in the agri-food sector and to forge the right partnerships to take those solutions to market.

March 24-25
Future Food-tech San Francisco

The Future Food-Tech Summit has become the annual meeting place for the global food-tech ecosystem. Food brands, active investors, start-ups, and technology leaders come together to exchange insights, be inspired, and identify future partners.

You will be able to join in-person or online as it is a hybrid summit. This allows you to meet and collaborate on the same platform, opening up the summit to a bigger global network than ever before.

Use our exclusive code EA10 to save 10% off a delegate pass.

April

April 4-7
Alimentaria

Alimentaria is an international event of reference that takes place in Barcelona, Spain, for all professionals in the food, beverage, and foodservice industry that allows the attendees to be up-to-date with the latest food industry trends, promoting internationalization, innovation, gastronomy, and sector specialization.

April 27-29
Anuga Foodtec 

As the leading global trade fair, Anuga FoodTec, taking place in Cologne or online, is the most important source of impetus for the international food and beverage industry. As the world’s only supplier fair, it covers all aspects of food production. Here, the industry presents its latest innovations and technological visions – from process technology to filling and packaging technology to food safety, from packaging materials to digitalization and intralogistics. And beyond that, there’s plenty more to discover.

May

May 4-5
Rethinking Materials 2022

Join a world-class gathering of visionary CPG Brands, Retailers, Producers, Converters, Regulators, Innovators, and Investors focused on scaling bio-based and circular solutions in plastics & packaging. Whether in-person in London or online anywhere in the world, all delegates will be able to meet and collaborate on the same platform.

Use our exclusive code EatableAdventures10 to get 10% off your ticket. 

May 10-12
Bridge2Food Plant-Based Foods & Proteins Summit Americas

Bridge2Food brings together key leaders from all along the value chain who are working to drive transformation. Join the three-day event to learn the latest innovations and research, find solutions and strategies, grow your network, and discover where the plant-based sector is heading next.

May 12-13
FoodHack Summit 2022

A 2-day event in Lausanne bringing together the world’s best and brightest food tech founders, leaders, and innovators. You will network with the best and brightest minds in FoodTech, discover upcoming startups and taste the latest industry innovations.

Use our exclusive code EATABLE-15 for a 15% discount on all ticket types.

May 16-17
New Food Forum

The New Food Forum at Frankfurt, is a bite-sized item on the program of the newly established IFFA Factory area, providing insights into the developments in the alternative-protein sector at IFFA, the world’s leading trade fair for the meat industry.

May 17-19
Food4Future

Food 4 Future, in Bilbao, is the place to be for any professional in the food industry and its value chain, where you can acquire the latest and most promising food technology applications, robotics and automation, data technology or processing techniques. The event aims to be the platform to discover the latest innovations and trends that are driving the transformation of the food industry.

May 18-19
F&A Next

F&A Next is about thought leadership and connecting promising start-ups and scale-ups, dedicated to food & agtech investors and innovative corporates. Expect top executives and opinion leaders to discuss the impact of innovation in the agrifood industry and consumer behavior. Plus, selected startups will be presented as the Next Heroes in Food- & AgTech.

 

June

June 1-2
Sweden Foodtech BigMeet

Expect five days of bold ideas, stunning demos, and insightful comments galore! You will meet key actors in the private sector, government, and grassroots initiatives.

Use our discount code BIGMEET20 for a 20% discount on your ticket.

June 13-14
Food Innovate Milan

Join a global network of food innovators and discover how to distinguish your product in a saturated market, achieve a cleaner label without sacrificing taste or tradition, discover and define the latest trends in consumer behavior and buying patterns across the world, enhance product formulation with some of the most innovative and exciting ingredients, plan your product life-cycle journey with break-through technologies, and much more!

Use our discount code EA895 for more than 50% off your ticket. 
This code will need to be inserted on the third page of the booking form, where it says ‘Enter promotional code’.

June 20-22
Bridge2Food Plant-Based Foods & Proteins Summit Europe

Bridge2Food brings together key leaders from all along the value chain who are working to drive transformation. Join the three-day event to learn the latest innovations and research, find solutions and strategies, grow your network, and discover where the plant-based sector is heading next.

June 21-22
Future Foodtech Alternative Proteins

Future Foodtech Alternative Proteins will take place in New York, connecting global food leaders to map out the future of protein. They will be focusing on three key pillars: plant-based, cell-based, and microbial fermentation. You should expect different discussions that will explore all facets of alternative proteins, providing a comprehensive overview of key players, markets, and solutions, handling topics from ingredient discovery and product formulation to regulation, communication, and commercialization

June 28-29
World Agritech Latam

World Agri-Tech Latam will connect international agri-food leaders to advance financial and environmental sustainability across the value chain. Join this event in São Paulo!

September

September 20-22
Bridge2Food Plant-Based Foods & Proteins Summit Asia

Bridge2Food brings together key leaders from all along the value chain who are working to drive transformation. Join the three-day event to learn the latest innovations and research, find solutions and strategies, grow your network, and discover where the plant-based sector is heading next.

September 22-23
Future Food-Tech London

Join 500+ C-Suite food brand executives, investors, and entrepreneurs from around the globe working together to scale solutions in health, nutrition, and alternative proteins. The next Future Food-Tech event will be in London!

September 29-30
New Food Conference

The New Food Conference is a unique, industry-oriented event that aims to accelerate and empower these innovative food technologies by bringing together key stakeholders.  The New Food Conference team is excited to welcome leading pioneers in the alternative-protein realm to Berlin – on-site and in-person – with a program packed with insights, an exhibition space, a startup area, food tastings, and loads of networking opportunities.

October

October 26-28
Asia Pacific Agri-Food Innovation Summit

In its fourth year, the Asia-Pacific Agri-Food Innovation Summit will bring together the world’s leading agribusinesses, growers, CPG and ingredient brands, entrepreneurs, investors, retailers, and policymakers to share ideas and collaborate towards greater security and sustainability in Asia’s agri-food system.

November

November 30- December 1
Plant-Based World Conference

This is the only 100% plant-based event for trade professionals – retailers, food service, hospitality, distributors, manufacturers, and investors. Network with professionals who have successfully embarked on both personal and professional plant-based journeys, many of whom have created some of the world’s most revolutionary plant-based products and foods. Share experiences, learn from peers, and immerse yourself in a truly collaborative industry. 

November 1-4
Web Summit

At a time of great uncertainty for many industries and, indeed, the world itself, this event gathers the founders and CEOs of technology companies, fast-growing startups, policymakers, and heads of state to ask a simple question: Where to next?
This year will be held in Lisbon, make sure you don’t miss it!

December

December 6-8
Fi Europe

Discover innovative products and solutions from 1000+ exhibitors, and hear firsthand from them at the Exhibitor Showcases. Stay updated on the latest industry trends through the comprehensive agenda of live and on-demand content sessions from global experts, and build relationships by networking with current and prospective business partners, thought leaders, and industry peers.

TBD

Food Tech Matters 

Date to be announced

Industrializing Cell-based Meats & Seafood

Date to be announced

We will be regularly updating this article with foodtech events in 2022 as they come along!

Investment received by foodtech startups in Spain triples in 2021

Spain has more than 400 Foodtech startups, being one of the major powers in the sector worldwide.

The agri-food sector is one of the engines of the Spanish economy, concentrating almost 10% of GDP, but we also have the opportunity to become a world power in innovation in the sector, thanks to “Foodtech”, a term with which any technology applied to the agri-food value chain is known. And this is demonstrated by the 2021 edition of the report on the State of Foodtech in Spain, a quantitative study that analyzes the sector that has been prepared for the second year by Eatable Adventures, one of the three leading foodtech accelerators globally.

2021 has been a great year for the entrepreneurial ecosystem in new technologies applied to food. Despite the difficulties suffered by the economy as a result of COVID-19, the net figure of 407 startups in the sector was consolidated, with 9% of them having been born this year. Spain is positioned as one of the main global powers in the sector, similar to France, ahead of the United Kingdom, but far behind the 900 startups in Israel or the 200 in Singapore, much smaller territories than our country. 

However, the most remarkable fact is the significant growth in investment received by these startups throughout 2021, reaching 695 million Euros, a growth of +220%, more than triple that in 2020. This figure places foodtech as the second category of investment in startups in our country, behind only transportation. Most of this investment takes place in very early stages (23% preseed and 46% seed). The 23% is in series A and only 5% in later stages or 2% in acquisitions. Glovo leads the highest round, with 450 million euros, followed by Biotech Foods with 36 million euros, Heura with 16 million euros and Biome Makers and Crowdfaming with 15 million euros each. 

 

Startups and the agri-food value chain

The concern of our entire society for sustainability, combined with the growing demand of consumers for healthier products, has been understood by the sector as great opportunities, increasing the number of startups that focus on the primary sector of the chain, on agriculture and livestock, seeking more sustainable formulas in production. Thus, 24% of startups work in agrifoodtech (vs. 17% in 2020), 35% in production and transformation, 24% in distribution and retail, and 17% in restaurant tech. 

Of those startups working in the primary sector, this year there is a greater weight in projects focused on the modernization of crops, applying software and automation in the processes (36%), while the weight of new methods of cultivation (18%) or the application of biotechnology in the fields (16%) is slightly reduced.

Analyzing the food process, which continues to be the most important point in the agri-food value chain (35%), there is a change in the search for new ingredients with which to produce alternative foods (47%), as opposed to plant-based or insect-based foods, which was the main driver until now (24%).

In the logistics section, the weight of direct-to-consumer models (74%), which in 2020 had gained very significant weight due to COVID-19, is slightly reduced. However, we see how many of these startups, which started out focused on the distribution of cooked food in restaurants (delivery), are expanding their catalogs to shift towards e-grocery.

Finally, in restaurant tech, we can clearly see how projects related to improved management thanks to artificial intelligence and the use of data are growing (40%), whereas until now this category was led by reservation platforms.

An important point of the study is the technology used in these projects. In 2021 we see how the use of biotechnology (32.05%) grows, mainly in food processing and crop improvement, but also Artificial Intelligence (28.21%) and Machine Learning (24.36%), in this case in a much more transversal way as they have applications in practically all points of the value chain. Robotics (12.82%) and Blockchain (6.41%) have a lower use in the volume of projects analyzed, for having a lower versatility and being more specific technologies but we see how there is growth compared to the 2020 report, confirming their consolidation as base technologies of foodtech.

It is important to highlight that 30.2% of the projects have patents, which helps to build a solid ecosystem with its own intellectual property that places our country in an opportune position of leadership, allowing us to export not only materials and processes, but also knowledge.

The profile of the entrepreneur is similar to that of the previous year: 40 years old, male (80%), starting up alone (14%) or with 1 partner (26%), and with less than 5 employees (46%), but 92% of them declare that in 2022 they will increase their workforce, confirming the employment generation capacity of the ecosystem.

 

What still needs to be improved, according to entrepreneurs

The study also includes a qualitative dimension that seeks to reflect the sector’s unfinished business. According to this, entrepreneurs state the importance of research centers in the development of startups in the sector (89% in 2021 vs. 65% in 2020), although it is perceived that universities do not fulfill this role, although this has improved slightly (50% in 2021 vs. 61% in 2020).

Knowledge of the sector by international investors is attributed as a reason why they invest in the sector (88% in 2021 vs 85% in 2020), which contrasts with the sentiment that the domestic investor lacks this knowledge, although this has improved this year (41% in 2021 vs 63% in 2020). It is important to highlight how the data reflects the change that the food industry is undergoing and is perceived as supporting the development of startups (67% in 2021 vs 43% in 2020).

And the point of subsidies is still pending, although it has improved. Entrepreneurs continue to demand greater ease of access to specific public aid for the sector (53% in 2021 state that this is a problem vs 72% in 2020).

For José Luis Cabañero, CEO of Eatable Adventures: “The tripling of investment data in 2021 and the significant volume of startups operating in our country show how the foodtech sector is confirmed as a great opportunity for the economy of our country, which will grow even more with the involvement of the public sector, corporations, research centers and universities”.

Download here the report and get to know more about our thriving food technology scene.