October 5, 2021

By Lynda Kiernan-Stone, Global AgInvesting Media

Spain’s Eatable Adventures has entered into a new phase of growth. After launching more than 10 accelerator and incubation programs, it has announced the launch of its €50 million (US$58 million) fund, Eatable Evolution Fund FCR I – an early and growth stage investor targeting agri-food tech startups across Europe and Latin America. 

This fund, which represents the largest of its kind in Spain and one of the top three in Europe, comes into fruition at a time when global foodtech investment opportunities are bounding, with startups raising $24 billion in H1 2021, nearly matching the total raised for the entire previous year.

“Through a variety of initiatives, Eatable Adventures has positioned itself as one of the three most active foodtech accelerators worldwide, given our mission of building tomorrow’s food companies,” said José Luis Cabañero, CEO of Eatable Adventures. “Thanks to Eatable Evolution Fund we will have an even more impactful contribution to the future of the food industry.”

Reflective of Eatable Adventures’ track record, its latest accelerator program, Spain Foodtech, includes a diverse collection of startups representing the entire value stream, from upstream technologies like Cocuus, the developer of a hyper realistic 3-D printed, plant-based steak; MOA foodtech, a creator of protein through the fermentation process; Innomy, maker of mycelium-based burgers; and H2hydroponics, the name behind vertical farming and indoor farming facilities designed for the most extreme climates. Downstream innovators include Proppos, a startup using artificial intelligence and computer vision enabling unattended Point of Sale in foodservice. Together, this cohort has demonstrated nearly double-digit growth in value in only six months. 

Following suit, the incoming cohort will be able to benefit from Eatable Adventures’ hands-on approach from its dedicated team focused on each business model, route to market strategy, industrial scaling, and showcasing of production and solutions to industry partners.

Along with the launch announcement for Eatable Evolution Fund FCR I, Eatable also announced a new addition to its executive team. The company’s founders, José Luis Cabañero, Mila Valcárcel, and José de Isasa will be joined by a new partner – Gonzalo Ramírez Martiarena, who was the founder and CEO of Swiss Pampa, and former global CEO of Louis Dreyfus Company. Martiarena is also a leading investor in foodtech startups, having invested in 18 globally scaled projects.

Currently, Eatable Evolution Fund FCR I is pending approval from the Comisión Nacional del Mercado de Valores (Spanish Securities Market Commission). Once secured, the fund will be managed by Abante Asesores Gestión SGIIC, S.A., a financial institution with deep experience in the management and administration of private equity vehicles with more than EUR 1.2 billion (US$1.4 billion) under management all-told.

– Lynda Kiernan-Stone is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Oilseed & Grain News. She can be reached at lkiernan-stone@globalaginvesting.com.