Eatable Adventures spearheads €50M fund for food and agriculture tech start-ups
05 Oct 2021 --- Eatable Adventures’ newly launched €50 million (US$58 million) fund, Eatable Evolution Fund FCR I, is hailed as the largest fund of its kind in Spain and one of the top three most active in Europe.
The financing vehicle is targeting early and growth-stage start-ups in agri-food tech across Europe and Latin America.
Eatable Adventures has already launched more than ten accelerator and incubator programs, while collaborating as an advisor on open innovation for leading global food corporations.
“Thanks to Eatable Evolution Fund we will have an even more impactful contribution to the future of the food industry,” remarks José Luis Cabañero, CEO of Eatable Adventures.
Eatable Adventures’ previously launched accelerator program has scaled hyper-realistic steak. (Credit: Cocuus)Start-up investment surges
The fund’s launch arrives as the global food-tech scene demonstrates an impressive growth. According to Agfunder, in the first half of 2021, start-ups have globally raised US$24 billion, getting very close to the total for all of 2020.
Eatable Adventures’ latest accelerator program, Spain Foodtech, included a diverse portfolio of start-ups ranging from upstream technologies like the hyper-realistic 3D printed plant-based steak of Cocuus, to the protein creation through fermentation of MOA foodtech.
It has also scaled the mycelium based burgers of Innomy, vertical farming of H2hydroponics, and downstream solutions like Proppos’ AI and computer vision for unattended Point of Sale in foodservice.
The results of this cohort have demonstrated almost a double digit growth in value in only six months, highlights Eatable Adventures.
Earlier this year, Eatable Adventures also lent its support to the Mylkcubator program, which is tipped as the first global incubation program for cellular agriculture technologies in the dairy industry.
Scaling potential
The upcoming start-ups participating in the next cohort of Eatable Evolution Fund FCR I will have access to the Eatable Adventures’ hands-on methodology, with a team dedicated to improving their business models, route to market strategy and industrial scaling.
The companies will also be given guidance in showcasing their products and solutions to large industrial partners.
The fund is currently pending approval by the Comisión Nacional del Mercado de Valores (Spanish Securities Market Commission).
The management company will be Abante Asesores Gestión SGIIC, a financial institution overseeing the management and administration of private equity vehicles with more than €1.2 billion euros under management in these vehicles.
By Benjamin Ferrer
