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Top 10 Most Funded Foodtech Scaleups in MENA to Date
The most funded Foodtech startup in MENA until June 30, 2023 is Dubai-based KITOPI, having raised over US $800M. Second placed Believer Meats from Israel raised less than half of KITOPI, at $388M.
Abu Dhabi’s Pure Harvest is among one of the world’s most well-funded agtech players, and Saudi's Nana groceries and Foodics B2B Restaurant SaaS round out the top 5.
Places 6 to 10 are all held by Israeli foodtechs that range from cell cultivation, agritech and compostable packaging - showcasing the country's deep bench of startups looking to scale.
That said, all of Israel's 6 startups in this top 10 list, have still fundraised less than UAE's KITOPI and Pure Harvest put together, due to KITOPI's unicorn status-sized fundraising efforts.
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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.
