European food tech startups have raised $6.3 billion in 2022. This is down from his $10.9 billion in 2021, but above his $3.2 billion in 2020. Grocery Delivery Company Getir’s $768 million Series E According to Dealroom, the March 2022 fundraising topped the list as the biggest round of the year, with Austria’s foodtech ecosystem the most advanced in the world and VC investment growing 11x.
The early stage scene is also progressing: December, A total of €34 million.
Which food techs should you watch out for in 2023? Sifted asked five investors to share the startups they think everyone will want to eat right away.
Christian Guba — FoodLabs Principal
FoodLabs is a Berlin-based early stage VC investing in food, health and sustainability start-ups.
Root Global is a next generation carbon accounting and procurement startup focused on the food supply chain. Food was responsible for just over a third of greenhouse gas emissions from 1990 to 2015, according to one study. 2021 study, There is also great potential for food producers and groups to reduce emissions by selecting and analyzing suitable suppliers. Root Global’s datasets, tailored climate strategies and transparent sustainability reports are intended to help companies achieve their goals.
molecular agriculture is one of the most promising technologies aimed at producing authentic animal proteins in plant hosts. Prose Foods is building a platform to discover and express plant proteins using computational biology, led by award-winning Stanford University researchers.
According to the Institute of Environmental Management and Assessment, by 2030, 1.5 million tons of cultivated meat are projected to be produced. Therefore, better bioreactors and bioprocesses suitable for animal cells are needed to scale up production. Ark is developing fit-for-purpose and affordable bioreactors for industrial production of cultured meat to solve capacity issues.
Plant-based cheeses have struggled to win consumer adoption, largely due to taste inconsistencies with dairy alternatives. I found a way to make the chuatella substitute almost indistinguishable from the real cheese.
Nadim El Khazen — Partner, PeakBridge VC
PeakBridge is a global agritech and foodtech investor with approximately €200 million in assets under management. Targets include Seed to Series B companies at the intersection of climate, health and food.
WNWN Food Lab
London-based WNWN Food Labs (pronounced “win-win”) develops delicious and scalable alternative chocolate products that are free from the ill effects of a cocoa industry that relies on deforestation and child labor. increase. WNWN’s proprietary precision fermentation technology allows us to create a wide range of ethical, sustainable and resilient alternatives to chocolate while using locally abundant ingredients such as barley.
Revyve upcycles yeast that comes from the sidestreams of the world’s largest breweries. Through a proprietary process, the company creates simple, sustainable proteins and fibers with unique functional properties that can replace animal-derived ingredients and E-numbers. By circularly sourcing raw materials from long-term partners such as AB InBev, Revyve does not need to grow biomass.
CarobWay aims to maximize the potential of carob fruit worldwide. Combining agritech and foodtech solutions will help fill supply voids, from providing alternatives to synthetic sweeteners and functional proteins, to properties that can be used in potential wellness products, to help drive new applications for this superfood. aims to introduce the Carob is an important raw material for dairy products and is a highly sustainable crop that requires little water and does not require refrigerated storage after harvest.
Hyperplan is a SaaS company based in Paris. Its mission is to support the expectations of the food industry and mitigate the increasingly precarious agricultural supply. Based on satellite and weather data, Hyperplan’s technology enables food stakeholders to make informed tactical and strategic choices for successful commercial or industrial operations. This includes economic efficiency, optimizing CO2 intensity and reducing food waste.
Eléonore Lafonta — Associate at Five Seasons Ventures
Five Seasons Ventures is Europe’s leading foodtech venture capital fund that invests in Series A stage companies.
Perfood is a German startup working on glucose monitoring in various applications as studies show that many chronic diseases are linked to blood sugar levels. Its first reimbursement solution is for migraines. The team has developed a solution that allows patients to treat migraines without drugs. Its long-term vision is to become a one-stop-shop platform for supporting patients with chronic diseases.
Seafood Reboot — a spin-off of algae experts Algama — is a French startup working on seafood alternatives, developing a range of plant-based seafood. Salmon, spreads, tuna, etc. are made using algae as the main ingredient.
This French company turns waste into tomorrow’s food. We use an automated platform to connect a company that deals with food waste with another company that needs a cutoff to make a unique new product. For example, the orange peel left over from making orange juice can be used to make an orange-flavored extract.
Jean-Gabriel Tarnaud — Venture Manager at Döhler Ventures
Döhler Ventures invests in seed-stage startups in the global nutrition and technology ecosystem.
EvodiaBio is a Danish startup that creates aromas through fermentation. Because the production of these compounds currently requires synthesis through intensive farming and complex processes, EvodiaBio has developed a more natural and sustainable way to produce aromas. It is the replacement of raw hops, pellets, or hop oil (the raw material normally used to make beer) with yeast-derived aromas during the brewing process to make non-alcoholic beer taste more authentic. starts with.
BettaF!sh is a German startup that provides a wide range of products based on the vegetable tuna raw material “Tu-Nah” made from broad beans. With current offerings such as sandwiches, pizzas and spreads, the company combines food technology with compelling branding.
Plant B is another German startup focused on manufacturing plant-based egg substitutes. This lupine-based product is a liquid meant to be incorporated into your daily recipes while still functioning like a regular egg, bringing structure and richness to your dishes.
UK start-up Mondra is focused on increasing the transparency of the ecological footprint of its products as both consumers and producers are increasingly interested in understanding their environmental impact. increase. Through its platform, it can measure the impact of products across their lifecycle and provide guidance through data-driven insights and benchmarks.
Another British start-up, Eden Bio, operates at the intersection of biology and information technology. Its machine learning program can improve the yield of protein produced for companies that use fermentation to make proteins by finding the ideal combination of genetic engineering processes in microorganisms.
Gustaf Brandberg — Partner at Gullspång Re:food
Gullspång Re:food is a for-profit, evergreen investment company based in Stockholm and San Francisco with early-stage growth initiatives driving the transition to sustainable protein and fat, healthy diets, sustainable supply chains and healthy soils. Investing in companies.
mediterranean food lab
The Mediterranean Food Laboratory (MFL) is a next-generation flavor house that ferments grains, legumes, vegetables and other ingredients to produce clean flavor ingredients from food waste. A major barrier limiting the adoption of plant-based alternatives is taste, and MFL hopes to solve this problem by creating more appealing flavors used to produce alternative proteins.
Heura Foods has a broad portfolio of plant-based products with strong brand loyalty in Iberia, producing a variety of alternative protein products such as chicken burgers, nuggets and chorizo. The majority of its products are made from pea and soy proteins that are free of genetically modified organisms (GMOs).
Onego Bio uses precision fermentation to produce animal-free egg whites in a safe, cost-effective and environmentally responsible manner. It introduces a bioreactor-grown microbiome with cells that encourage it to produce egg whites instead of regular protein, eliminating the need for chickens.
Founded by two brothers, Planet A produces cocoa- and palm-free chocolate (called Nocoa) by fermenting plant-based ingredients. This process means that chocolate can be produced locally rather than using limited land resources or exploiting labor. As an alternative to palm oil, nokoa butter can also be used as an ingredient by itself.
Sadia Nowshin is an editorial assistant at Sifted.she tweets from @sadianowshin_