Consumer
Q4 202306.11.2023

Foodtech

Picture of Jonathan Sinclair

Jonathan Sinclair

at Sifted

Foodtech — defined by Sifted as foodstuffs and ingredients artificially created to be consumed by humans or animals — is suddenly the flavour of the month again. The collapse of the speedy groceries sector — which proved to be an expensive distraction — has prompted a fresh wave of foodtech enthusiasm. The tech itself appears to be improving too, as companies find innovative ways to improve quality and scale production — but lots of carnivorous consumers are yet to be convinced by lab-grown alternatives.

Whether it’s complex fermentation or insect farming, the sector is far from reaching its potential, and will soon have a full plate with more mouths to feed globally. Plant and microorganism-based foods haven’t quite lived up to expectations but interest in cell-based proteins — where stem cells are cultivated in labs to produce meat-like products — have taken the biscuit after a surge in funding in 2022. The US and Israel have already approved the latter for human consumption, giving runway for European regulators to follow suit and hurry their deployment to supermarket shelves.

20 most promising early-stage foodtech startups

  • Gourmey logo

    Sifted score

    8.79
    -

    Gourmey

    Sustainable cell-cultured meat production

    • Strong investor(s)
    • Hiring
    • Year founded

      2019

    • HQ

      Paris, France

    • Latest round

      Series A
      48m / Oct 2022

    • Total funding

      57.3m

  • UMIAMI logo

    Sifted score

    8.74
    -

    UMIAMI

    Plant-based meat and fish alternatives

    • Strong investor(s)
    • Hiring
    • Year founded

      2019

    • HQ

      Paris, France

    • Latest round

      Series A
      32.5m / Oct 2023

    • Total funding

      63m

  • Project Eaden logo

    Sifted score

    8.13
    -

    Project Eaden

    Produces edible plant-based protein fibres

    • Strong investor(s)
    • Serial founder(s)
    • Hiring
    • Year founded

      2022

    • HQ

      Berlin, Germany

    • Latest round

      Seed
      2.0m / Jan 2023

    • Total funding

      10.1m

  • JULIENNE BRUNO logo

    Sifted score

    8.04
    -

    JULIENNE BRUNO

    Dairy-free cheese and plant-based ingredients

    • Strong investor(s)
    • Serial founder(s)
    • Hiring
    • Year founded

      2020

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      5.8m / Nov 2022

    • Total funding

      6.9m

  • Formo logo

    Sifted score

    7.22
    -

    Formo

    Animal-free dairy products using precision fermentation

    • Hiring
    • Year founded

      2019

    • HQ

      Berlin, Germany

    • Latest round

      Series A
      40m / Sep 2021

    • Total funding

      44m

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