Dealroom – State of European Foodtech, 2024

The European Foodtech industry saw a total investment of $4.5 billion in 2023, ranking it 6th in the most funded European industries. Despite a market drop, Foodtech funding remained steady compared to 2021 levels when excluding food logistics & delivery. B2B solutions now make up over 50% of Foodtech funding, showing significant growth over the past decade. However, exits are predominantly seen in the B2C sector, with corporates willing to acquire high-quality assets at premium valuations. The focus on planetary and human health has become increasingly important in Foodtech, with trends like food as medicine, alternative proteins, sustainable packaging, and food waste reduction gaining prominence. The market is positioned for normalization after the inflated multiples seen during the Covid-19 pandemic, with a shift towards quality assets and companies showing strong consumer demand and profitability potential. Investor Ivan Farneti highlights investments in resilient Foodtech startups like DASH Waters, Untamed, and Spacegoods, demonstrating the continued interest in the sector.