The Nordic and Baltic regions have firmly positioned themselves as frontrunners in the global foodtech revolution, leveraging deep-rooted commitments to sustainability, cutting-edge research, and thriving startup ecosystems. According to StartupBlink’s latest Foodtech Winners Report, Helsinki has emerged as a dominant European hub, while other cities across the region continue to push the boundaries of food production, alternative proteins, and the digitalization of supply chains.
Using an analytical approach backed by data from Semrush, Crunchbase, and other reputable sources, the foodtech rankings offer a structured, data-driven snapshot of the industry. The methodology evaluates investment levels, startup density, and ecosystem maturity through the same rigorous algorithm applied in the Global Startup Ecosystem Index 2024. By comparing foodtech-specific rankings with general startup rankings, the report highlights key strengths, emerging powerhouses, and promising investment opportunities across the sector.
Helsinki: A Rising Star in Foodtech
Ranked 16th globally, Helsinki has become the second-highest EU city in foodtech, surpassing established tech hubs like Paris and Berlin. This remarkable leap—31 spots ahead of its general startup ecosystem ranking—underscores Finland’s commitment to sustainable food innovation, driven by state-backed initiatives and a robust circular economy.
Finland’s foodtech landscape is flourishing, with 85 startups innovating across alternative proteins, food waste reduction, and sustainable packaging. Notable names include Wolt, ResQ, Enifer, Onego Bio, Oddlygood, and Solar Foods. By eliminating reliance on traditional agriculture, the Helsinki-based startup represents a game-changing solution for future food systems.
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Denmark and Sweden: Champions of Alternative Proteins
Denmark has climbed six places in the food tech rankings, solidifying its position as a European leader in sustainable food innovation. The country is home to a flourishing ecosystem of startups, including key players such as Too Good To Go, Simple Feast, 21st.BIO, Biosyntia, CELLUGY, Superb, Seasony, Chromologics, and Matr are driving transformation across various sectors of the food industry, from reducing food waste to developing innovative technologies that shape the future of sustainable food production and consumption. Denmark’s growing food tech landscape reflects the nation’s commitment to pushing the boundaries of sustainability and innovation in the food sector.
Sweden, ranked 18th globally, remains a strong contender in the sector, despite falling five spots from its overall startup ecosystem position. Companies such as Karma and Hooked Foods, Oatly, Stockeld Dreamery, Mycorena, CarbonCloud, Melt&Marble, Sproud, Nordic Seafarm, and Foodtel are at the forefront of Sweden’s food tech scene; making significant strides in sustainability, plant-based food alternatives, and next-gen food solutions. As Stockholm solidifies its status as a food tech hub, these companies are pushing the boundaries of innovation to enhance food accessibility, sustainability, and efficiency, fueled by strong support from research institutions and venture capital. Sweden’s food tech ecosystem continues to thrive, reflecting its growing influence on the global stage.
Norway and Iceland: Innovators in Aquaculture and Fermentation
Norway is a leader in aquaculture and seafood innovation, leveraging its deep expertise in ocean-based food production to drive the future of the sector. Norway’s unique access to clean energy and cutting-edge marine technology provides it with a distinct competitive advantage in the global food tech landscape. The country’s vibrant food tech ecosystem includes innovative startups such as Völur, TotalCtrl, Plaato, Keep-it Technologies, Norwegian Mycelium, Moreshrooms, and Greentech Innovators, all contributing to advancements in sustainability, efficiency, and technology within the food industry. Norway’s combination of natural resources, technological innovation, and expertise is propelling its food tech sector to new heights, positioning it as a global leader in sustainable food production.
Oda, based in Oslo, Norway, is rapidly establishing itself as a standout in the foodtech industry with its efficient online grocery retail platform. Offering a wide selection of products and optimized home delivery services, Oda focuses on convenience and logistics to meet the growing demand for hassle-free grocery shopping. With a strong focus on customer satisfaction and streamlined operations, the startup has earned a SB Score of 616 (as of January 2025), placing it among the most promising foodtech startups globally. Oda’s innovative approach and successful expansion reflect its growing influence in Norway’s competitive grocery market.
Iceland, though smaller in scale, is making waves with cutting-edge developments in fermentation and alternative food sources. Iceland’s food tech ecosystem is emerging as a dynamic player in the global food innovation scene, with many startups contributing to a diverse and growing industry. Among these are standout companies such as Loki Foods, GreenBytes, Thor Ice, and VAXA Technologies.
The Baltics: Small but Mighty
While the Baltic states have yet to dominate global rankings, Estonia, Latvia, and Lithuania are gaining traction as promising foodtech hubs. Companies like Estonia’s ÄIO, Latvia’s BeeSage, Lithuania’s Leafood are making a mark in the food sector.
With growing investments and strong governmental support, the Baltic Foodtech industry is well-positioned for rapid growth, particularly in agritech, alternative proteins, and smart food logistics.
Foodtech Unicorns and Notable Exits
The Nordic and Baltic regions have also produced foodtech unicorns and successful exits, further solidifying their importance in the global market. Helsinki-based Wolt, a food delivery platform, was acquired by DoorDash for $8.1 billion, marking one of the largest exits in the European foodtech space. Similarly, Sweden’s Oatly, a plant-based dairy giant, became a unicorn with its IPO on the Nasdaq, showcasing the region’s ability to scale foodtech startups globally. Finland’s RELEX Solutions, optimizing retail supply chains, became a unicorn in 2022, while Estonia’s Bolt Food reached unicorn status in 2019, further showcasing the region’s strength in foodtech innovation.
Challenges and Future Outlook
Despite the strong momentum in the Nordic and Baltic regions, Europe’s overall share of foodtech funding has declined from 26.87% to 22.41% in 2024, while Asia Pacific has seen the largest funding surge. To maintain their upward trajectory, Nordic and Baltic nations must continue investing in R&D, fostering cross-border collaborations, and implementing policy incentives that encourage foodtech innovation.
As Helsinki and other key cities solidify their roles as global foodtech leaders, the Nordics and Baltics will remain instrumental in reshaping the future of food production and consumption. With sustainability, technological advancements, and disruptive startups leading the charge, the region is set to play a defining role in the evolution of the global food industry.
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Read the orginal article: https://arcticstartup.com/startupblink-foodtech-winners-report/
