Called “ food revolution”, the Foodtechs bring together two passions that many times have not been connected within the same purpose, agro-industry and technology, not only for delivery, but throughout the whole food production chain.
Foodtech meaning and definition
Food Tech could be defined as the sector that researches and explores how to use technology to create sustainability, efficiency and effectiveness in the design, production, choice, distribution and consumption of food.
What is a Foodtech Startup?
From the standpoint of startups, these are ventures that seek to innovate in the food industry with technology around the production, supply chain, and distribution channels.
In these three stages of products and services applied to the agro-industry we can see four trends that are currently booming in those companies that venture with technology for gastronomy and agronomy in their countries.
First we have the new ways of purchasing, an element that is at the final stage of the chain and focuses on the consumer trend to improve their eating habits and also contributing to sustainability from their position as buyers.
Sustainability, in turn, was one of the first and main targets by Foodtechs that started showing up, concerned about the use of technology to create biodegradable containers, or leveraging resources to minimize or even eliminate the contamination of the planet.
The growsumers are seen more and more in all countries, people that on top of consuming vegetable products also seek to produce them by their own means. This is possible thanks to the new techniques such as hydroponic, allowing the production through water without the need of soil.
Tech-kitchens and tech-agronomy are part of one of the industries with more ideas, which include appliances that work with internet connection, smart kitchens and others. As far as production, we see improvements in technified machinery to enhance the speed, lower the cost and perfect quality.
The entire foodtech industry is expanding rapidly due to the increased accessibility of online food delivery platforms. In addition to the increased use of smartphones and the Internet.
Food Tech web platforms are becoming increasingly popular among consumers. These platforms help restaurants expand their consumer base, increase their revenue and better utilize their resources.
An example of this is evidenced by the size of the global online food delivery market; it was estimated at $189.70 billion in 2021.
Consumers today prefer to order online, which offer an unlimited selection of restaurants and this will most likely continue to increase.
Foodtech Venture Capital Investments
Latin America is one of the continents where the agro-industry is stronger, throughout the years it has produced millions of agricultural products for national consumption and for export.
With the arrival of technology, since 2017 there has been an acceleration of investment in this industry, from then on the great potential that it had was noticed, was diminished in 2020 due to the arrival of the pandemic.
It has currently taken off again due to the economic reactivation of the countries and most likely will have a growing positioning during the next few years.
Foodtech Startups in Latin America
At Newtopia we are interested in this topic and for this reason we currently have in our portfolio 4 companies that are part of the foodtech industry and that through their missions generate change. In this post, you can see Foodtech Companies in Latin America
- Ady Beitler
- Nicolás Manes
- Karina Campos
- Nilus is a technology company, incubated at Harvard Innovation Labs, which lowers the cost of access to healthy food for low-income people, by leveraging the power of disintermediation, food rescue, and collective purchasing.
- Federico Weil
- Juan F Lago
- Mizu by Clood is an Argentinian FoodTech that promotes the comprehensive well-being of people. Developing superfoods with natural ingredients to go along with an active, healthy and balanced lifestyle. We combine the best of nature, science and food technology to improve, prolong and enhance people’s quality of life.
- Maximiliano Dicranian
- Mauricio Kremer
- Gonzalo Castro Peña
- We have built a Marketplace where we empower consumers to buy and save food before it is disposed of.
- Alexandre Boccara
- Gaspard Hambückers- Jacquemin
- Leo Lucianna
- Kitchenita is a LATAM based startup that creates data-driven food concepts for delivery partnering with leading CPG companies and renowned chefs. Through data analysis and proprietary technology, the company launches virtual restaurants and positions them in the top 10 of any food vertical in less than a month.