Today, the foodtech ecosystem in Latin America is valued at $21 billion, up from $16 billion at the end of last year. However, more than half of the value comes from the three food and grocery delivery unicorns Rappi, Cornership and iFood. Since 2016, the foodtech ecosystem in Latin America has grown 12x compared to 6x for the global one.

In total, $4.6 billion have been raised by foodtech startups in Latin America since 2010. However, it is 5.6x and 15.8x lower than more developed tech ecosystems such as Europe and USA, respectively. The foodtech ecosystem in Latin America is super early stage and there are plenty of growth opportunities.

Wonder where to start exploring the ecosystem? Here are the top foodtech startups in Latin America according to our Dealroom Signal, a unique predictive algorithm to discover promising companies.👇

In foodtech news

👨🏻‍🌾 Our ecosystem partner Vitagora launched an agriculture challenge. Startups working on tech-enabled solutions can take part in the pitch contest to gain visibility and win a cash prize and support development package. Applications close August 25th, 2022.

🚙 Instacart's revenue growth accelerates ahead of planned IPO. Revenue in the second quarter grew 39% year-on-year to $621 million. The number of orders increased 25% to 60 million. The company might go public as soon as this year. - WSJ

🇧🇷 Brazil consolidates as China's main supplier of agriculture produce. Last year Brazil accounted for 20% of China's imports, or $41B worth of products such as  soybean meal, concentrated soy protein, peanuts, corn and citrus pulp. - Mercopress

Latest foodtech deals

Select deals from last week:

🇨🇦 Vive Crop Protection, a Canada-based agritech company, secured $34M Series C for Research & Development. Vive's precision chemistry technology enables farmers to use existing products such as pesticides, biostimulants, and fertilizers more effectively.

🌾 There are 115 other startups working on crop protection technology.

🇺🇸 Eat Just, a SF-based producer of plant-based eggs and cultivated meat, raised $25 million from Chinese C2 Capital Partners, an Alibaba-backed investment firm.

The company is still awaiting approval for selling its cultivated meat in China. C2 Capital Partners, which supports startups to land and expaind on the Chinese market, will be a strategic investor. 

🐮 We've put together a list of 206 startups working on plant-based eggs and diary.

Other notable foodtech deals from around the globe: 

🇺🇸 Wisconsin-based So Fresh is raising $13M to reduce and eliminate food waste through its innovative packaging solution.

♻️ There are 20 other companies working on innovative packaging to reduce food waste.

🇫🇮 Ruokaboksi, a Finnish meal kits delivery company, bagged €3.5M to scale its service in the country and beyond.

🇳🇱 Sensoterra, an Utrecht-based water technology company, secured €1M in Seed funding to "make sense of water".

Read up on all the latest foodtech deals in Dealroom.co

Tip of the week

🏆 Dealroom Signal Top 100

We’ve ranked the top 100 startups to watch over 6 verticals based on our Dealroom Signal: a powerful algorithm helping VCs, Corporates and Governments find the most promising up and coming startups.

Be the first to try out and explore the top 100 startups built by our data-driven algorithm. 👈

Dive in

🗺️ Foodtech investment heatmap

🎓 Foodtech university spinouts

🦄 110+ Foodtech unicorns and $1B+ exits

Ivan Draganov

Senior Innovation Analyst
Dealroom

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