Eatable Adventures, an accelerator that has been playing a fundamental role in the creation and strengthening of foodtech ecosystems in Spain and Italy, has closed 50% of its €30 million investment vehicle Europe Foodtech Acceleration Fund I SCSp. 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.
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.
Additionally, Eatable Adventures has announced the initial investments made through this fund, totaling €6 million, 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.”
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.
Read the orginal article: https://www.eu-startups.com/2024/01/madrid-based-eatable-adventures-concludes-first-closing-of-its-e30-million-fund-to-invest-in-agri-food-tech/
