Foodtech & F&B Industry Total Scaleup Funding by Year
Between 1 January 2021 to 30 June 2023, Foodtech Scaleups in MENA raised a combined US $2.93 billion. Scaleups refer to any startup that has raised a minimum of $1 million in its lifetime. That means that Foodtech Scaleups in MENA raised 70% of all Foodtech Funding since 2010, in the past 2.5 years. Only time will tell if the VC winter will hit foodtechs across MENA in 2023; though funding in 2023 looks depressed compared to the past two landmark years, it is likely that 2023 funding will still fare better than the prior year's funding averages.