AgriFoodTech in Spain 2024

Navigating Challenges andCatalyzing Innovation in AgriFoodTech Contenido Introduction......................................................................................6 People..............................................................................................24 Agrifoodtech.....................................................................................8 »Agritech...........................................................................12»Food Production & Transformation..............................14»Logistics, Distribution & Retail......................................16»Restaurant Tech.............................................................18 •Workforce Composition.....................................................28 Investments....................................................................................30 »Leading Rounds.............................................................33»Other Rounds.................................................................36»Origin Of Funds..............................................................37 Geographical Presence...............................................................20 •Where Are The Agrifoodtech Startups From................21 »Agritech...........................................................................22»Food Production & Transformation..............................22»Logistics, Distribution & Retail......................................23»Restaurant Tech.............................................................23 Technology......................................................................................38 •Main Technologies...............................................................40•Origin Of Technology..........................................................41•Development Stage.............................................................42•Intellectual Property............................................................44 •ICEX Support.........................................................................60•Comments From Startups.................................................61•Spain Compared To Other Countries.............................62»Global Recognition........................................................64 Market..............................................................................................46 •Clients.....................................................................................48•Market Presence..................................................................48•Products And Services.......................................................49 Innovative Environment...............................................................50 Trends...............................................................................................66 »Global Investors.............................................................51»European Investors........................................................51»Spanish Investors..........................................................52»Corporate Venturing......................................................53»Public Investors..............................................................53 Methodology...................................................................................84 »Where is the data from?................................................85»What is an AgriFoodTech startup?...............................85»Who are the experts?....................................................85 •Public Funding......................................................................54 The year 2024 has indeed been a challenging period for Spain’sagrifoodtech sector, a reflection of broader global trends. Amid economicuncertainties and evolving market dynamics, the sector has experienceda decline in investment levels and a reduction in the number of activestartups. Despite these setbacks, the resilience and innovative spirit of theindustry remain noteworthy. Spain continues to stand out as a leader in agrifood innovation,leveraging its strong agricultural heritage and cutting-edge technologicalintegration. Startups in the sector are dynamically addressing shiftingconsumer demands, promoting sustainability, and driving transformativechanges in food production and distribution. The restructuring of the sectorhas led to a strategic emphasis on building solid foundations for profitabilitywhile advancing technological adoption. Our report explores into the dynamics of the sector, providing acomprehensive analysis of its current state. We examine key factorscontributing to the observed contraction while highlighting innovations andstrategies that promise recovery and future growth. The report underscoresthe importance of collaboration between public and private entities, theadoption of cutting edge technologies, and alignment with global trendssuch as sustainability. In this context, ICEX has continued reinforcin