Eatable Adventures, an agrifood accelerator, has introduced the info from its annual examine “The State of Foodtech in Spain 2022.”
The report gathers info on the characterization and funding evolution of the Spanish foodtech entrepreneurial ecosystem.
The report says 2022 has been a optimistic yr for the sector within the nation. Regardless of the macroeconomic context, Spanish startups have been supported by traders, corporations and governments, which have taken a extra energetic position within the development of the Spanish ecosystem.
In 2022, Spain stays within the international high 10 rating when it comes to variety of foodtech startups, whose newest census, based on the report, totals 412 startups. As for the important thing areas of the foodtech sector, as soon as once more this yr, 4 main classes had been recognized, exhibiting a reasonably steadiness amongst them: agritech (24%); meals manufacturing and transformation (34%); logistics, distribution and retail (25%); and restaurant tech (16%).
Progress of AI
Spanish startups are solvent at a technological stage and have a strong stage of improvement. The share of startups that resolve to patent their options or generate utility fashions is rising: 32.9% of startups have patents, 56.6% have a trademark registration and 29% have a commerce secret. There’s vital development in using synthetic intelligence, with a rise of greater than 12 factors, in comparison with final yr, in addition to in machine studying and IoT, with a rise of 8.5 and 9.6 factors, respectively. Concerning the diploma of technological improvement (TRL) of the startups, greater than 80% have market-ready options and 14% are nonetheless at an intermediate stage.
This yr, the full funding determine is €268 million ($285 million), a rise of 9.38% in comparison with the earlier yr, not contemplating the funding spherical achieved by Glovo (€450 million/$478 million). As well as, the rise in Sequence A rounds stands out, rising by almost 20%, 5 factors greater than in 2021.
The biggest investments have been in startups working in foodservice/retail, however the emergence of the protein various stands out amongst investments. The highest 5 startups main this rating are Cowl Supervisor, Heura, Good Information, Nova Meat and Cubiq.
“Spain is consolidating its place as a foodtech nation with a flourishing ecosystem and nice technological and mental solvency, which has attracted the curiosity of worldwide traders and corporates all year long. Proof of this are the funding rounds obtained by a few of the startups of our Spain Foodtech portfolio, equivalent to Cocuus, Innomy or Moa Foodtech,” stated José Luis Cabañero, CEO and founder at Eatable Adventures.
New name for tasks for the Spain Foodtech Startups’ Program accelerator
Eatable Adventures introduced the opening of the brand new name for tasks for the Spain Foodtech Startups’ Program accelerator. It is a nationwide program led by Eatable Adventures, in collaboration with ICEX Spain Export and Funding and CNTA (Nationwide Heart for Meals Expertise and Security).