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Foodtech Startups in the Middle East Raise over US $2.6 Billion in the past Two Years

Foodtech Startups in the Middle East Raise over US $2.6 Billion in the past Two Years

By Erika Masako Welch 21 August 2023

Lucidity Insights in partnership with Entrepreneur Middle East and Foodics recently published a Special Report titled “The Growing Business of Foodtech,” which sheds light on the global foodtech industry and its unicorns, and details the hot up-and-coming trends in the sector according to the latest funding data.  

Globally, foodtech hit an all-time-high in 2021, when the sector raised a landmark US $46.8 billion across 1,987 deals. 2022 saw a market stabilization back to the US $21.4 billion invested, which was typical of years before. Time will tell if the VC winter has taken hold of the s

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The Growing Business of Foodtech

There are over 124 foodtech unicorns around the world worth over US $1.3 trillion. The Foodtech market itself surpassed US $260 billion last year alone. Alt-Proteins, 3D Printing Food, and AI integrated Restaurant SaaS: The future of food has arrived. In addition to looking at foodtech globally, in this special report we also look at the future of food technology scene in the MENA region, our special report delves deeper into the dynamics of Foodtech in MENA.

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