FoodLabs’ new report, published in partnership with Dealroom, a global data provider, reveals that European food and agtech startups raised $1.9 billion in VC funding in 2022 – the most active year to date – showing a 20% increase from 2021.
The Food for Climate report provides a comprehensive market analysis of sustainable investment trends in the climate technology food ecosystem. It has identified more than 340 startups across 16 categories working to transform sustainable food systems.
The coming decade is crucial
The environmental footprint of our food system is huge, FoodLabs explains. Agriculture is responsible for extensive water use, greenhouse gas emissions and land use.
Moreover, the food industry faces unprecedented challenges due to climate change and global population growth. As global warming threatens food security, the food industry is playing an important role in climate change and a new generation of technologies is emerging to address this challenge. Reduce emissions, and ensure a sustainable future for our planet.
“The coming decades are critical in the fight against climate change, and the transformation of the food industry could greatly affect our chances of success. Startups can bring about fundamental change and ensure a sustainable future for our planet”, said FoodLabs General Partner Patrick Huber.
Addressing future challenges
Foodlab, a branch of Berlin fund Atlantic Labs and led by tech investor Christoph Maier, aims to help European innovators create a paradigm shift in the world of food production.
With its €100 million in funding, it has been an early investor in startups, including Germany’s MicroHarvest, which raised €1.5 million to develop fermented protein, and the UK’s WNWN, which secured $5.6 million to launch its vegan, cocoa-free chocolate range. UK retail in 2023.
The early-backer VC also injected climate capital into Israel’s PoLoPo, which closed a $1.75 million pre-seed funding round to continue developing its proprietary molecular farming technology; and bright Biotech, a UK-based startup, has secured $3.2 million in funding to create cheaper growth factors for the farmed meat industry, among others.
“As global warming threatens food security, the food industry plays an important role in climate change; Rethinking our food system is essential, and FoodTech and AgTech are the keys to solving the challenges of the future,” said Christophe F. Maire, Founding Partner of FoodLabs
The report is available for download www.foodlabs.de/foodforclimate.