Madrid, never a city to stay behind on technological trends and innovation, has been in the midst of a significant boom in its agri-food tech sector. The major player in the food and drinks industry in Madrid is Eatable Adventures. The prominent accelerator concluded the first closing of its €30 million investment fund, the Europe Foodtech Acceleration Fund I SCSp. Having closed 50% of this substantial fund, Eatable Adventures is set to play a pivotal role in furthering the growth of foodtech ecosystems in both Spain and Italy.
In the face of a challenging global economic context, the foodtech sector has demonstrated impressive resilience. This is, in part, due to massive collaborations made between players within the startup scene, industry and investors. The result? The development of efficient solutions that are addressing significant challenges in the sector. This has initiated the rise of a new vertical in the food industry, providing not only investment and business opportunities but also contributing significantly to the well-being of people and the planet.
Eatable Adventures, as part of this initiative, has unveiled the initial investments from the fund, totaling €6 million. Nine leading Foodtech projects, including Agreen Biosolutions, Agreenet, Hypesound, Foreverland, Néboda, Mmmico, Regrowth, Soonapse, and Trusty, have benefited from this injection of capital. The selection of these projects was conducted through two national acceleration programs, Spain Foodtech and FoodSeed, operating in Spain and Italy, respectively. These programs, in collaboration with ICEX Spain Export and Investments, CNTA, and CDP Venture Capital Sgr accelerators, focus on fostering innovative technological solutions in the agri-food sector. The invested companies are at the forefront of disruptive solutions addressing critical issues such as food waste, water resource scarcity, traceability enhancement, transparency in vital industries, innovative crop protection alternatives, and the production of sustainable and healthier ingredients.