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

Cocuus
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.

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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.

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Meet the EAA Alumni: Innomy

With the growing demand from the population to eat more and more sustainably, fungi-based meat is one of the new alternatives being pursued by many companies, with the aim of mimicking the taste and texture of real meat. 

Innomy, an Argentinan-based startup located in Spain, is using fungal tissue cultures combined with precision fermentation technology to create complex structures that replicate the fibrous and tender consistency of meat. Created in laboratories, fungi-based meat relies on the mycelium, which is a network of fine filaments that are similar to the muscles of animals. The company modifies the shape, color, and flavor of the filamentous structures in mycelial matrices to make products that taste like meat.

During our interview with Francisco Kuhar, CSO & Technology Partner of Innomy, whose company participated in our Accelerator Program in 2020, he explained how the program helped the company grow, the reasons they chose the fungi-based meat to create their product, and the best advice they received from our CEO, Jose Luis Cabañero. Read on to learn more about Innomy’s experience during the Eatable Adventures Accelerator Program.

 

What stage was Innomy at when you joined the Eatable Adventures Acceleration program? Can you tell us about the growth Innomy has had since participating in our acceleration program?

When Innomy joined the Eatable Adventures Acceleration program: ‘Spain Food Tech’, the development stage was at an advanced stage, but the team’s configuration as a startup was incipient and a lot of organizational work was needed to be able to expose itself to investors and the public. Working with CNTA in the framework of this program was a huge help, as this institution became a valuable partner along the way. The experience we gained from Eatable Adventures enabled us to develop a credible business proposal, as well as to organize the team, understand the language of communication, and present ourselves to investors. In addition, the contacts provided by the Program and the appearances at various events allowed us to increase our reach and access to financing and production proposals.

 

What has the Spanish foodtech ecosystem offered you to establish your company in Spain?

In particular, we felt very supported by the Basque ecosystem. Institutions such as Beaz, Talent, and the BIC of this community welcomed us and helped us in a very active way. On the other hand, Basque research institutions and industry have been very supportive and are allowing us to grow.

 

What are the advantages and benefits of using mycelium compared to other protein alternative raw materials on the market today?

The mycelium contains high-quality protein in terms of its amino acid composition, but also in the supply of vitamins, Beta-glucans, ergosterol, and other compounds whose health benefits include the maintenance of a competent immune system, lower cholesterol levels, and the availability of nutrients without the need for artificial additives.

What is the most valuable piece of advice José Luis has given you in our Acceleration Program?

José Luis taught us that talking with a product on the table is much more effective than communicating ideas or a project. Even if it needs to be improved, the product shows an anchor with the reality that is often valued in the European entrepreneurial environment. Our speech was crystallized into a solid demonstrable development, which changed the way investors or other partners listened to us.

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Spain as a global benchmark in FoodTech during the I InnoDays Madrid

Singapore, Israel, and Madrid? FoodTech is gaining momentum in the city trying to become a global reference. Public administrations and private agents have aligned their interests to position the region in one of the sectors of the future. These intentions were evident during the first thematic session of the Innodays, a series of sectoral meetings to promote entrepreneurship in the field of innovation organized by the Madrid City Council, the Community of Madrid, and the Madrid Innovation Driven Ecosystem (MIDE).

Spain as a FoodTech Nation

Among all the guests at the first InnoDays, Eatable Adventures’ Managing Partner, Mila Valcárcel, brought up a relevant topic: the geopolitical changes (and the consequent scarcity of food or raw materials) that will act as accelerators of changes in the agri-food value chain with the incorporation of new technologies.

These changeovers are led by technologies such as robotics, fermentation, bioprinting, artificial intelligence, IoT, new ingredients, cellular technology, or innovations in packaging. “We like to talk about Spain as a FoodTech Nation, a country that is much more than gastronomy and a world power in the agri-food field,” Valcárcel detailed. In fact, 10% of the national GDP depends on these sectors.

 

Startups, the main drivers of the industry

More than 30,000 companies are engaged in agri-food in Spain. “The great challenge for the industry is digitization, technology must reach the whole system. We also need more innovative and sustainable value chains, as is the case in other sectors”. Despite everything, the Spanish FoodTech and AgroTech environments have gained dynamism at full speed, as evidenced by the 700 million in investment attracted by agri-food last year, almost triple compared to 2020.

In this ecosystem, startups are clearly in focus, they are companies that are developing and generating interesting movements at different levels. As for Madrid, there are 407 startups operating in the region, representing 25.29 % of the national total. “They are companies that touch the entire value chain, from production to logistics. Madrid can be the Silicon Valley of food, the key is to work together to achieve it,” assured Mila Valcárcel.

 

Madrid, the Silicon Valley of food

Madrid should have a global ambition regarding its positioning on the FoodTech board. “We should take advantage to change what doesn’t work. For example, technology transfer is fundamental but very complex in Spain. We must mix technology and science to generate ambitious startups capable of solving global challenges.”

At a time when supply chains are breaking down and food autarky is on the rise, Spain has scientific teams, first-rate facilities, and a testing ground, such as Madrid Food Innovation Hub, where everything can be tested. “Let’s develop technology, intellectual property, and a solid business model around food,” said Valcárcel.

 

Educating the consumer

Meanwhile, we need to educate consumers so that they are aware of and able to exploit the disruption.  “For starters, FoodTech will allow us to make food accessible to everyone. This doesn’t mean we’re going to stop having traditional livestock or crops. It means there will be many other ways of doing things in the face of a world population that is growing and demanding functional foods, proteins…”

“It is important to work with the citizen on issues of perception and valuation. Countries like Singapore do a great job of dissemination. In this way, the consumer understands that there is nothing wrong with consuming laboratory meat or lettuce harvested in a vertical garden”.

During its first day, InnoDays aimed to highlight the needs of the entrepreneurial ecosystem and generate synergies between it. Watch the recorded session here.

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Baking the Future closes successfully its first edition and opens its doors to new startups with revolutionary ideas

The first edition of our acceleration program Baking the Future, came to an end yesterday with the celebration of the “Demo Day”, a virtual event that aimed to present the projects of the three accelerated startups and communicate the opening of a second edition.

Innovation is part of our DNA. The company itself was born from an idea that revolutionized the bakery sector and since then, Europastry has always sought to be at the forefront of the sector, anticipating new trends and offering its
customers the most disruptive products. “If you stop innovating you end up losing competitiveness and capacity for growth. That is why it is very important to keep reinventing yourself and never think that what you have is for life“, said Jordi Gallés.

The Baking the Future acceleration program plays a very important role in this constant renewal. Startups help us to innovate and open up new opportunities that allow us to take our products to the next dimension, while at the same time we provide them with all of Europastry’s muscle so that they can grow and develop their projects with the greatest possible resources.

Baking the Future

“CEREAL DEMO DAY”

The celebration of the “Demo Day” took place at Cereal, Europastry’s Innovation Center, where the first idea was born and where today we continue to work with great passion to bring to market the best products in the sector. To conclude the first edition of the Baking the Future program, the three accelerated startups presented their projects whose drivers are sustainability and health:

Agrain

  • The Chilean startup Done Properly with its cutting-edge technology which, through a bioprocess of fermentations, manages to reduce the amount of salt enhancing the natural flavors of food.
  • The Danish startup Agrain with its new way of producing food by recycling grains used in the brewing industry.
  • Spanish startup Bread Free, is the world’s first company capable of creating gluten-free wheat flour to make bread, pasta, and other bakery products.

 

BAKING THE FUTURE OPENS A NEW SELECTION PROCESS

Building an open innovation model for Europastry is the goal of the Baking the Future program. For this reason, we are opening a new selection process for Those startups that want to revolutionize the bakery sector with projects related to sustainability, improving the consumer experience, health, and food solutions and technologies aimed at improving production without losing sight of the quality of the products.

Starting today, those interested in being part of the project can apply on the Baking the Future website. Selected startups will have access to all the company’s resources – from mentoring sessions, workspace, and access to Cereal’s state-of-the-art technology labs to business plan design – to develop their products and test their viability in the market.

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Meet the EAA Alumni: MOA Foodtech

MOA Foodtech is a Spanish startup that combines biotechnology and artificial intelligence to transform waste and by-products from the agri-food industry into a 100% sustainable ‘‘new generation protein” of high nutritional value.  Their goal is to implement new technologies that promote a fairer, more compassionate, and more sustainable food system while still being appealing to consumers.

We had the opportunity to interview Bosco Emparanza García, CEO and founder of MOA Foodtech, one year after going through our Accelerator Program. Discover what this meant to them, the advice he still retains, and how he sees MOA Foodtech in the future.

 

How did the idea of founding a company as MOA Foodtech arise? What is the main goal of the company?

The world is currently in a critical environmental situation. By 2050, agriculture will need to feed 40% more people, produce 70% more food, using only 10% more land.
The whole MOA team was concerned about the situation and the huge impact the agri-food industry has. For this reason, the three founding partners, Susana, José María, and I, made this decision to leave our jobs as scientific directors in a biopharmaceutical, M&A, and commercial company, respectively. As a step towards developing a sustainable agriculture-food model, we set out to investigate the following: Can we use waste and by-products from the agri-food industry to produce high-value food using biotechnology?

 

What were the benefits of working with Eatable Adventures in your first steps until the business was consolidated?

The beginning of our journey was a time of uncertainty. That same year was the confinement, and we found ourselves leaving our jobs. At that point, the Eatable Adventures team came on board; they believed in the project and shared our ambition. The solution we wanted had to be global, and thanks to Eatable’s way of working and networking, we were able to start a global project. As time passed, the most rewarding and intense hours of the week were our meetings with Mila and José Luis, when we wrote down our plans to overcome the next hurdle, and we did.

 

What is the most valuable piece of advice José Luis has given you in our Acceleration Program?

Having spent so many hours working together, it is impossible to choose just one. But without a doubt, there have been two in particular that made us change our approach and begin to see things more clearly.

The first, and undoubtedly essential, was that we had to seek international investment. This was the best way to position ourselves as a credible project and thus begin to grow.
And the second was to consider what we really were. Instead of thinking, we were just a protein manufacturer, we had to think of ourselves as a platform.

 

What is in the near future for MOA Foodtech and where do you aspire to go in the long term?

Our goal is to be a global project, so we are scaling the technology to an industrial level and developing solutions focusing on the Asian (where protein consumption will grow the most), European and American markets. In addition, we are working on applications not only in meat analogs but also in snacks and dairy analogs. We are also developing new processes utilizing by-products and residues, and perhaps most importantly, we’ve developed an artificial intelligence tool that helps us develop all of the above more efficiently and quickly.

Check out our other Alumni Interviews here.

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Foodtech Opportunities in The Spanish Market

The foodtech sector is an emerging and dynamic sector dedicated to improving the entire food industry value chain sustainably. This intersection between nutrition and technology is changing the traditional food and beverage sector, prompting existing players to rethink many of their insights into manufacturing processes, consumers, and the market in general.

In recent years, Israel has positioned itself as one of the world’s FoodTech leaders, and it has succeeded. In just 70 years, it has managed to turn its threats into opportunities and become a world reference in innovation, responsible for some of the most disruptive and revolutionary technologies in multiple areas. 

 

Investing in Spain’s FoodTech Sector

In our country, investment in the foodtech sector has tripled in one year after national startups have raised 695 million euros in 2021, which is 220% more than the previous year, according to data from ICEX’s recent report. Thus, the Spanish ecosystem is the fifth foodtech ecosystem with the highest investment in Europe after Germany, the United Kingdom, France, and the Netherlands, offering numerous opportunities for innovation, some of which make this country a global benchmark.

Webinar Israel

Imagine how powerful these two ecosystems would be if they were connected? That’s exactly what happened during the webinar on February 22. The Foreign Trade Administration of the Ministry of Economy of the State of Israel engaged Eatable Adventures and leading Spanish corporations, such as Europastry and Pascual, to be part of the conversation and share best practices in open innovation.

Although we still have many challenges ahead of us, all levels of government, associations, clusters, and large food companies are working simultaneously to address them. We live in the era of collaboration, in which people, startups, investors, and administrations, are allied to build a better future; and of course corporations in the agri-food sector cannot miss this joint work.

 

Open Innovation Programs: Mylkcubator & Baking the Future

Startups in this sector are undoubtedly an engine of innovation that can bring a lot to the industry. In order to benefit from this, we need to create open innovation programs that identify the best startups to partner with, lay the groundwork for this collaboration, and channel joint efforts that benefit both parties.

Mylkcubator Companies of all sizes and nationalities are implementing programs along these lines every day. Important Spanish food companies have developed their open innovation programs, accelerators, and investment arms, such as Pascual’s Mylkcubator and Europastry’s Baking the Future. With these programs, companies can discover new business models, explore new channels with their consumers, reinforce the sustainability of their operations, diversify in categories or geographically and, above all, increase the efficiency of their business.

baking the futureThere are many ways in which companies in the sector work on open innovation, and it will depend a lot on the culture of the company, the position it is in, and the structure it has. In this regard, it is always helpful to have an ally who can advise the company on how to move forward, identify startups to work with, and lay the groundwork for collaboration with them, such as us, Eatable Adventures. 

If you want to know more about the Spanish foodtech sector, visit our recent article.

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Unmissable 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

August 30 – September 1
Industrializing Cultivated Meats & Seafood Summit

Industrializing Cultivated Meats & Seafood will host the industry leaders from Food Techs, Investors, Multinational Consumer Packaged Goods, and Food Brands and Manufacturers, to focus on preparing for Cultivated Meat & Seafood Commercialization.

If you are creating a new cultivated meat or seafood product, looking to scale-up your current process to the industrial level, waiting on regulatory approval to go to market, or wishing to build new partnerships to optimize your processes, this is the go-to forum to attend in person in 2022.

September 16-19
Edible Planet Ventures

The Edible Planet Ventures Summit in Italy brings industry leaders and activists together alongside visionaries and change-makers, to set the table for a radically different food system.

Coming from all corners of the globe and all points in the food chain, our participants are a symbol of the progress that can be achieved through collaboration and innovation.

September 20-21
World Agri-Tech Innovation Summit London

World Agri-Tech will bring together leading agribusinesses, co-operatives, CPG brands, entrepreneurs, investors, and policy makers to accelerate the transition to sustainable and resilient agri-food systems.

Two days of full in-person sessions and networking including panel debates, roundtables, fireside chats, start-up pitching and 1-1 meetings.

Use code EAFRIEND to get an extra 10% off ticket price.

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!

Use our codeEA10 to get an extra 10% off ticket price.

September 27-29
VertiFarm

VertiFarm is making its début as the first and only dedicated trade show for Vertical Farming & New Food Systems. Starting in 2022, Messe Dortmund is filling this gap, bringing together knowledge, technology, R&D and networking opportunities at the heart of the Ruhr, one of Germany’s key logistics hubs.

Secure one of the exclusive 250 tickets for the Summit now, with free access to the exhibition and complimentary catering. Help shape the future of Vertical Farming and New Food Systems!

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 3-8
Festival dell’Innovatzione Agroalimentare

The Festival is a 6 day online event created by FoodHub Magazine to share the latest innovations in Italian agrifood stakeholders.

It is the origin point of the MOVEMENT that brings together professionals from scientific research and industry to innovate in the agri-food sector.

At Food Hub, they care about the agri-food sector. As a benefit company, they are committed to making the latest innovations in the agri-food sector accessible to the market, believing in the sector, and investing in the professional growth of all agri-food stakeholders. For these reasons you can participate in the Festival for free.

October 4-5
NutrEvent

NutrEvent is the leading European business convention dedicated to innovation in Food, Feed, Nutrition and Health gathering 650 actors from research to market, with the objective to promote today’s products, process and services and identify tomorrow’s innovations.

The event will be hybrid, you can attend in person on October 4-5 (Nantes, France), or you can connect to the 100% online event on October 11.

October 17
Boosting alternative protein in Spain

The first FoodHack meetup in Madrid with prominent guests from the new protein sector: Heura, Pink Albatross, Innomy, Zyrcular Foods.

This is a great business opportunity. People, consumers are increasingly aware of the impact of their food, both in terms of the environment and in terms of health, so they are increasingly demanding food according to their concerns and lifestyles.

Those attending the first FoodHack Meetup in Madrid will have the opportunity to hear stories of successful entrepreneurs working on the future of food from Spain.

The event is free but registration is required.

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.

Save 10% with our partner code EAT10

November

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!

November 7
FoodTechIL

FoodTechIL is the main event of the Israeli FoodTech ecosystem.

After long anticipation, FoodTech IL 2022 will bring the entire community – entrepreneurs, investors, food industry leaders, government officials, researchers and service providers, together under one roof.

November 8
Agrivest

With its 10th anniversary, AgriVest is proud to keep the pulse of the agtech ecosystem in Israel! Bringing together hundreds of investors and multinational corporations with the most cutting-edge innovations in the agtech field.

AgriVest provides an array of opportunities for knowledge sharing, networking, exploring collaboration opportunities, and countless interactions on the frontier of innovative technologies, making it a must-attend event for the ecosystem.

Use our promo code AGRIVESTMEDIAEA10 to get a 10% discount.

November 28-30
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.

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. 

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.

We will be regularly updating this article with foodtech events in 2022 as they come along! Make sure you don’t miss any of them!

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5 Spanish Startups Leading Investments in 2021

Spanish foodtech startups are attracting higher investments, even from initial rounds. As a result, investment in foodtech projects has experienced an important growth during 2021 reaching a total of 695 million euros. This represents a 220% increase compared to 2020, which demonstrates the potential of the foodtech sector in the coming years. 

The investment momentum is determined by a set of relevant factors: greater knowledge of the sector by non-specialized national investors, the entry of international venture capital with bets similar to those of more developed ecosystems, and access to larger rounds by more mature startups and scale ups. 

 

GLOVO

The Barcelona-based multi-category delivery startup landed the largest funding round for a Spanish startup earlier this year of 450 million euros. Glovo’s intention is to use the investment to expand their presence in their existing 20 markets, plus focus more on the Q-Commerce (Quick Commerce) division. 

 

BIOTECH FOODS

BioTech Foods is a Spanish start-up founded in 2017 with the mission of producing and commercializing cultured meat. JBS, the Brazilian meat giant, is looking to expand into the cultured meat sector and invested 36 million euros on BioTech Foods to enable the firm to build an industrial plant in the Basque Country with the main objective being to have the new plant ready in 2024, when commercialization is expected to begin. 

 

HEURA

Most famously known for their vegan chicken alternative, foodtech startup Heura received 16 million euros in funding. The funds will go towards developing vegan pork and increasing its global expansion, especially in the British and American markets. This investment came just weeks after Heura’s crowdfunding campaign that raised 4 million euros in just 24 hours. 

 

BIOME MAKERS

Biome Makers raised 15 million dollars to secure their position as a global leader in biological soil analysis. The funds will go towards accelerating the global expansion of BeCrop® as the industry standard for functional soil analysis and sustainable soil health recovery, and Gheom® as an independent assessment program measuring the impact of crop inputs and farming practices to support a personalized agriculture.

 

CROWDFARMING

CrowdFarming raised 15 million euros to facilitate the entry of new producers onto its platform, improve its logistics and help more producers obtain EU organic certification. The startup’s mission is to democratize the food supply chain through direct sales to the end consumer, for which they have developed a marketplace where customers can access products in this way.

 

Download Eatable Adventure’s Report THE STATE OF FOODTECH IN SPAIN 2021 here.

 

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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.

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