Pierrick Ribes is an accomplished professional adept in strategy formulation and consultancy. Fueled by an insatiable thirst for knowledge and a propensity for continual learning, he dedicates his free time to Lucidity Insights, enriching its content with insights drawn from his extensive professional expertise and refined research acumen.

A distinguished graduate of EDHEC Business School and Anglia Ruskin University, Pierrick holds a master's in management, an MSc in financial management, and a BA (Hons) in business management. His unwavering commitment to learning, coupled with a drive for professional excellence, underscores his aspiration to be an influential voice. Through his insightful writings, Pierrick aspires to provide invaluable knowledge and perspectives to the discerning readers of Lucidity Insights and Entrepreneur.com.

Contributing Writer and Researcher

Pierrick Ribes

The Growing Business of Foodtech

Articles

Türkiye

Breaking Records: Turkey's Path to Unicorn-dom

Turkey's Path to Unicorn-dom

Entrepreneurship

Ahmad is the co-Founder and CEO of Foodics, the leading Restaurant-Tech and Payment platform in the MENA Region.

Forbes selected Foodics as one of the fastest growing startups in the Middle East for 3 years running in 2016. Ahmad has also been recognized by global media as a high-impact entrepreneur, the founder of the fastest growing startup in the Middle East, and as one of the top 50 influential business leaders in the region for 2022.

On the academic level, Ahmad comes from an Electrical Engineering graduate from King Fahd University of Petroleum and Minerals in Saudi. As well, he has been part of Executive Leadership Programs from top business schools including Harvard Business School and Stanford.

As an Electrical Engineering graduate, Ahmad always focused on finding disruptive solutions in technology.

In 2010, he co-founded his 1st startup ALWANS, which develops apps as well as investment opportunities for other startups. A year later, Wazi Club was created as way for Ahmad to raise the awareness on technology in his community by organizing technical field projects and awareness sessions.

Founder & Chief Executive Officer

Ahmad AlZaini

United States

Ahmad AlZaini: Revolutionizing the F&B Industry in the GCC

Revolutionizing the F&B Industry in the GCC: A Digital Transformation Story

FoodTech

Erika Masako Welch is the Co-Founder and Chief Content Officer at Lucidity Insights, focused on democratizing access to quality data for startups and venture capitalists across the MEAPT region. She also hosts "The Perfect Pitch" podcast, where she interviews top venture capitalists and entrepreneurs about fundraising and growth strategies. A Stanford GSB graduate and former international strategy consultant, Erika has over 15 years of experience advising Fortune 500 companies in 50+ countries and 20+ sectors. She is also a selective angel investor in the wellness and sustainability space. Passionate about community building, wellness, and exploration, Erika is a foodie, yoga enthusiast, and lifelong seeker of eudaimonia.

Co-Founder & Chief Content Officer

Erika Masako Welch

The Evolving Landscape of FoodTech: Challenges and Opportunities

With over 6 years of professional experience in live reporting, news research and writing, documentary filmmaking, news documentaries, creative writing, oral history and life interviews, archiving, and field research, I believe, I have found my niche interests in recording trauma, loss, grief, displacement and memory. I've worked for national and international publications including prominent ones like LA Times, France 2, Channel News Asia, Arte, France 24, and the 1947 Partition Archive. Additionally, my intuitive built towards a humanistic approach has added to my skills of UX writing, psychology, empathetic listening, and communication.

Contributing Writer

Avantika Seth

Foodtech's on a Mission: The Dynamic Forces Fueling Foodtech's Rise

The Dynamic Forces Fueling Foodtech's Rise

Charting the Foodtech Frontier and Its Influence on the Value Chain

The Foodtech Frontier & Foodtech Along the Value Chain

Saudi Arabia

Demystifying Foodtech: Why It Matters

2023 Foodtech Revolution: Emerging Industry Trends

Revolutionizing the Foodtech Industry: Emerging Trends in 2023

Ashok is a storyteller who uses numbers as his medium. He loves to crunch data, analyze it, and investigate deeper questions until the stories begin to emerge on their own. Ashok comes from a finance and consulting background, having worked in the strategy consulting and private equity fields across the Middle East and Emerging Asia for over 15 years, prior to becoming a business writer. When it comes to tech stories, Ashok has a penchant for startups in the fintech, B2B SaaS, AI and ML spaces. He loves writing about Venture Capital, M&A and the general investor landscape of startup ecosystems.
Ashok holds a Bachelor’s of Science in Electrical Engineering from the Georgia Institute of Technology, as well as a diploma in Finance. He speaks English and Hindi fluently.

Researcher

Ashok Raman

Six Graphs that Map Out Foodtech in MENA (including Israel)

6 Graphs that Map Out Foodtech in MENA

Nazmia is a young writer passionate about making complex data and research more approachable, understandable and entertaining. She’s always been an educator at heart, taking on mentorship roles teaching creative and business writing to the scientific community. She is currently pursuing her passion at the intersection of technology and healthcare through a Masters degree in Biomedical Engineering. When she’s not in the lab pouring herself into the magic of tissue engineering and reconstruction, she’s writing and educating the world about all things biotech, healthtech, insurtech and edutech. If you're looking for practical insights with a touch of whimsy, Nazmia is the voice to follow with a fresh perspective on the ever-evolving digital and tech industry. 
Nazmia holds a BS in Biology and is currently pursuing her MS in Biomedical Engineering at the American University of Beirut. She specializes in cartilage tissue research, and uses her writing as a therapeutic escape to produce captivating pieces that take her readers on a journey with every word.

Nazmia Nassereddine

Now, Let’s Meet Some of the Biggest Foodtech Unicorns That Are Making Waves in the Foodtech Industry, from around the World

Meet Some of the Biggest Foodtech Unicorns Making Waves in the Global Foodtech Industry

Unveiling Data Insights Behind the Rise of Foodtech

Data Points That Help Explain the Emergence of Foodtech

Global Foodtech Unicorn Success Stories

India

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

We are a team of passionate Researchers, Data Junkies, and Story-Tellers that believe there is not enough quality business insights and compelling data analysis available in the marketplace, told in the formats users want. We want to give an insider's look into the industries, businesses and economies that are changing the world today, so our users can become inspired, empowered and equipped to run their businesses as best they can.

Lucidity Insights Research Team

Infobytes

VC Investments in Startups Based in Turkey 2010-2023* (in US$ Million)

VC Investments in Startups Based in Turkey 2010-2023

VC Investment in MENAPT Countries and the Cumulated VC Investment in $ US Millions from 2018 to 2023

VC Investment in MENAPT Countries 2018-2023

Combined Enterprise Value of Turkey’s Tech Startups Founded since 1990

Turkey’s Tech Startups: Road to Multi-Billion Combined Enterprise Value

List of Turkey’s Unicorns (as of Jan 2024)

7 Turkish Unicorns Unleashed: An Engaging Infobytes Showcasing the Nation's Startup Milestones

Early Stage VC Investments in Startups Based in Turkey 2018-2023 (In US$ Million)

Early Stage VC Investments in Turkey's Startups (2018-2023)

Explore the Key Milestones of Turkey’s Startup Ecosystem

Key Milestones of Turkey’s Startup Ecosystem

Global

The Distribution of Food-Insecure Populations in 2022 Shows the Food Security Trends in 77 Low- and Middle-Income Countries across Four Regions

Distribution of Food-Insecure Populations in 2022

Global Greenhouse Gas Emissions from Food Production Contribute to a Quarter of the Global Amount

Global Greenhouse Gas Emissions from Food Production

See How Food Technology Evolves Along the Value Chain

Foodtech Tech Along the Value Chain

A Brief History of Innovations in Food from Primitive Tools to Louis Pasteur's Discoveries in the Late 18th Century

A Brief History of Innovations in Food

Food Tech Constitutes a Vast Ecosystem of Technologies from Agricultural Tech to Surplus and Waste Management

Food Tech Constitutes a Vast Ecosystem of Technologies

Funding Type Splits and Average Funding Evolution for Foodtech and F&B Scaleups Across MENA from 2010 to H1 2023

Funding Type Splits & Average Funding Evolution for Foodtech and F&B Scaleups Across MENA

MENA Foodtech Is All about Food Delivery, Q-Commerce & Cloud Kitchens & B2B Marketplaces

MENA's Foodtech and F&B Industry: Scaleup Funding Splits by Sub-Sector & Country

In the MENA Region, Foodtech & F&B Industry Number of Funding Rounds Split Between Scaleup and Startups

Foodtech & F&B Industry Number of Funding Rounds Split Between Scaleup and Startups

Cumulative Number of Foodtech Unicorns Shows the World has More Foodtech Unicorns, Doubling in the Past Two Years

Cumulative Number of Foodtech Unicorns (to Q1 2022)

Global Foodtech Exit Activity by Year Showing the Foodtech Exits Slow Down in Q1 2023

Global Foodtech Exit Activity by Year (2018-2023)

Global Foodtech Deal Activity by Quarter has Seen a Declining Trend Since Q1 2022

Global Foodtech Deal Activity by Quarter (2018-2023)

More Food Security Issues We Face that Foodtech Could Help Address

Food Security Issues that Foodtech Could Help Address (2)

Pure Harvest's Entrepreneurial Journey as the Pioneer in the Sustainable Agriculture

Pure Harvest's Entrepreneurial Journey

UAE & Saudi Startups Dominate the Top 5 Most Funded Foodtech Scaleups in MENA List

Top 5 Most Funded Foodtech Scaleups in MENA (2023)

Over the Past Decade, Restaurant Management Software VC Deal Activity Has Seen a Significant Rise

Restaurant Management Software VC Deal Activity

Top 10 Most Funded Saudi Startups | Tamara, STC Pay & Foodics Lead

Top 10 Funded KSA-Born Startups to Date + Honourable Mentions

Foodics has Been the Region’s Most Prominent Foodtech-Meets-Fintech Player Since 2014

Foodics Growth Story in Numbers (2014-2023)

Foodtech & F&B Industry Total Scaleup Funding has Secured a Total of $2.93 Billion in Funding Between January 2021 to June 2023

Foodtech & F&B Industry Total Scaleup Funding by Year

Which MENA and GCC Countries Account for Largest Funding Raised by Foodtech Scaleups?

Which MENA Countries Account for Largest Funding Raised by Foodtech Scaleups?

Global Foodtech Funding Deal Activity by Sector

Global Foodtech Deal Activity by Sector

Global Foodtech Deal Activity by Year (2018 to First Quarter of 2023)

Global Foodtech Deal Activity by Year (2018 to Q1 2023)

Food Security Issues that Foodtech Solutions Could Help Address

Food Security Issues that Foodtech Could Help Address

Top 10 Most Funded Foodtech Startups in the Middle East and North Africa region to Date

Top 10 Most Funded Foodtech Scaleups in MENA to Date

Special Reports

Mini Report 2025: MEAPT PropTech Review 2024

MEAPT PropTech Review 2024

Startup

Special Report: The State of Fintech in the Middle East

The State of Fintech in the Middle East

Fintech

Dubai Startup Guide 2024: In Collaboration with DCDE

Dubai Startup Guide 2024 Edition

United Arab Emirates

Dubai Green Future: Powered by Renewable Energy 2024 Report

Dubai’s Green Future: Powered by Renewable Energy

Sustainability & ClimateTech

Top Blockchain Innovations in 2024 | Lucidity Insights

Special Report: Innovations in Blockchain

Crypto, Blockchain & Web3

To Your Doorstep: The Future of Food Delivery in Saudi Arabia

The Future of Food Delivery in Saudi Arabia

Egypt

Special Report: Investing in Egypt’s Startup Ecosystem in 2024

Investing in Egypt’s Startup Ecosystem

Special Report "The Business of Impact Investing in 2023"

The Business of Impact Investing in 2023

Special Report: "Exploring MENA Healthtech Business"

The Business of Healthtech in MENA

HealthTech

Special Report: "Sustainable International Trade for a Resilient Future"

Sustainable International Trade for a Resilient Future

Special Report: The State of the Electric Vehicle Revolution 2023

The State of the Electric Vehicle Revolution 2023

Mobility

Special Report: Foodtech in MENA, How Innovation is Transforming the Culinary Landscape

Special Report: "Opportunities in Web3"

Opportunities in Web3

Dubai's Venture Capital Ecosystem | Special Report

Dubai's Venture Capital Ecosystem

The Future of Fintech in Africa

Diriyah and Saudi's the Giga Projects | Special Report

Diriyah and the Giga Projects: Defining the New Saudi Arabia

Tourism

The Evolution of the KSA Startup Ecosystem: A Deep Dive into Growth and Innovation (2010-2022)

The Evolution of Saudi Arabia Startup Ecosystem 2010-2022

Dubai's Digital Economy and Startup Ecosystem | Special Report

Dubai’s Digital Economy and Its Expanding Startup Ecosystem

MENA's M&A Landscape 2017-2022: A Comprehensive Review

The Middle East & North Africa’s M&A Landscape 2017-2022

Sustainable Innovations and Startups in the MENA Region

<a href="https://lucidityinsights.com/">Lucidity Insights</a> in partnership with&nbsp;<a href="http://www.entrepreneur.com/en-ae" target="_blank">Entrepreneur Middle East</a> and&nbsp;<a href="https://www.foodics.com/">Foodics</a>&nbsp;recently published a Special Report titled &ldquo;The Growing Business of Foodtech,&rdquo; 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. &nbsp;

Globally, <a href="https://lucidityinsights.com/topics/food-tech">foodtech</a> 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 sector in 2023, but preliminary data for the year show a slowdown in foodtech exits. By the end of Q1 2023, there were only 15 exits for VC-backed foodtech startups worth a combined US $1 billion. There were no IPOs and only one buyout, leaving M&amp;A deals to make up the majority of exits during the quarter, indicating a period of consolidation has begun. &nbsp;

<img src="https://cdn.lucidityinsights.com/uploads/foodtech-2/infobytes/03.jpg" />&nbsp;Due to the popularity of food delivery marketplaces, aggregators and q-commerce players feeding consumers&rsquo; appetites for quickly delivered groceries and ready-to-eat meals, e-Commerce still dominates Foodtech&rsquo;s deal activity around the world; but it is alternative protein or Alt-Protein players that have been steadily growing their share of investor funding in the past 18 months. If it&rsquo;s lab-grown meat via cell cultivation, or plant-based or insect-based meat, it seems investors are hoping the reduced ecological footprint and lower time and resource cost will mean efficiencies to meet the world&rsquo;s ever-growing demand for protein. As the global human population grows from 8 billion to 10 billion by 2050, there will be much work to be done to ensure all mouths are fed, and little food produced is wasted. &nbsp;

The Rise of Foodtech in MENA

While the global foodtech industry garners attention, the Foodtech in MENA landscape is evolving into a thriving ecosystem. The Special Report highlights regional heavyweights like unicorn Kitopi and expected &quot;soonicorns&quot; such as Foodics and Pure Harvest. These startups represent the most funded foodtech ventures in the region. Other notable players include KLC Virtual Restaurants, Yango Tech, KASO, and Yango Delivery, which are methodically expanding across MENA.

Since January 2010, over 356 foodtech startups in MENA have raised capital, signaling robust entrepreneurial activity and investor interest in the region. With a mix of innovation, market adaptation, and funding, these startups are shaping the future of the foodtech industry in MENA.

Emerging Trends in Foodtech Innovation

Other hot trends discussed in the Special Report include predictive analytics used in Agtech, 3D printing food, personalized nutrition, restaurant SaaS, artificial intelligence minimizing food wastage, creating efficiencies in the supply chain, and new fintechs delivering quick financial aid to f&amp;b establishments, based on algorithm&rsquo;s which determine ability to pay, based on daily customer orders and POS data. &nbsp;

<img src="https://cdn.lucidityinsights.com/uploads/foodtech-2/articles/launch/2.jpg" />

<h3>Why MENA&#39;s Foodtech Sector Matters</h3>

The Foodtech in MENA sector is uniquely positioned to address regional challenges like food security, sustainability, and efficient food delivery systems. Startups in MENA are pioneering solutions to minimize food waste, optimize supply chains, and cater to shifting consumer preferences. With a focus on localized innovation and scalable technologies, foodtech players in MENA are contributing to the global foodtech landscape.&nbsp;

Beyond the global data, the report highlights the regional heavy-weights in the Foodtech scene, from unicorn <a href="https://lucidityinsights.com/spotlights/kitopi-dubais-latest-foodtech-unicorn">Kitopi</a>&nbsp;to expected soonicorns, <a href="https://lucidityinsights.com/spotlights/foodics-the-regions-most-prominent-foodtech-meets-fintech-player">Foodics</a>&nbsp;and Pure Harvest; each of which have made the region&rsquo;s most funded foodtech startups list. Others like KLC Virtual Restaurants, Yango Tech, KASO, and Yango Delivery are carving out market leading roles for themselves, and expanding methodically across the region. These are just some of the 356 foodtech startups from across the MENA region that have raised some kind of capital since January 2010. &nbsp;

<h3>Read the Full Report</h3>

For a deeper dive into Foodtech in MENA&nbsp;Read the full <a href="https://lucidityinsights.com/reports/the-growing-business-of-foodtech">Special Report</a> to get all the market data, insights and up-to-date stories on these remarkable entrepreneurial journeys. &nbsp;

Spotlights

Pure Harvest Smart Farms: MENA’s Next Agtech ‘Uni-Camel’

KASO Is Reshaping the Food Procurement Industry, Looking To Achieve $1 Billion GMV by 2024

Yango Tech: Tech Stack for Profitable E-Grocery

KLC Virtual Restaurants: Cloud Kitchens Re-Imagined

Yango Delivery: The First Choice for Last Mile Delivery

Foodics: The Region’s Most Prominent Foodtech-Meets-Fintech Player

Videos

Turkey's Ascendancy: A Journey through its Thriving Startup Ecosystem

Turkey's Path to Unicorn-dom: A Journey through its Thriving Startup Ecosystem

Meet The Top Five Most Funded Foodtech Startups in MENA

The Top 5 Most Funded Foodtech Startups in MENA

7 Ways AI is impacting Food Tech Industry

7 Ways Generative AI can be Used in Foodtech

Foodtech's average funding round sizes continue to rise across all stages

Meet FOODICS: The Region’s Most Prominent Foodtech-meets-Fintech Player

Meet the Region’s Most Prominent Foodtech-meets-Fintech Player

Venture Funding in Restaurant Management Software have surged in the last decade

VC investments in Restaurant SaaS have skyrocketed in the last decade

Israel

Which countries lead MENA Foodtech, securing 80% of startup funding?

Israel and UAE dominate MENA Foodtech, securing 80% of startup funding

MENA Foodtech Scaleups have raised more than $2.9 billion in the last 3 years

MENA Foodtech Scaleups have raised more than $2.9B in the last 3 years

6 Foodtech Sectors Attracting Investors in the Middle East and North Africa

Which foodtech sectors are attracting investors in MENA?

How Many FoodTech Scaleups Are Located in the MENA Region?

MENA is home to 138 Foodtech Scaleups

What is the Current Number of FoodTech Unicorns Worldwide in 2023?

How many foodtech unicorns are in the world today?

Alternative Proteins in the MENA region: Already sizzling with over $200 Million raised in Q1 2023!

Alt-Proteins: Already sizzling with over $200 Million raised in Q1 2023!

How Can FoodTech Help Reduce Environmental Impacts?

Foodtech's Untapped Power in Reducing Environmental Impacts

Is the VC Winter Affecting Foodtech Sector?

Is the Funding Winter Affecting Foodtech?

Could Foodtech Innovation Be the Answer to Food Security Challenges?

How could Foodtech Help Solve Food Security Issues?

The Business of Foodtech

The Growing Business of Foodtech

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