A New Report Released By Saudi Arabia-Based Foodics Reveals That Foodtech Startups In The Middle East Have Raised Over US$2.6 Billion In Funds In The Past Two Years

A New Report Released By Saudi Arabia-Based Foodics Reveals That Foodtech Startups In The Middle East Have Raised Over US$2.6 Billion In Funds In The Past Two Years

A New Report Released By Saudi Arabia-Based Foodics Reveals That Foodtech Startups In The Middle East Have Raised Over US$2.6 Billion In Funds In The Past Two Years Time will tell if the venture capital winter has taken hold of the sector in 2023, but preliminary data for the year show a slowdown in foodtech exits.

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Saudi Arabia-based Foodics, in partnership with Lucidity Insights and Entrepreneur Middle East, has published a special report titled The Growing Business of Foodtech, which sheds light on the global foodtech industry and its unicorns, while also detailing the 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 in that $21.4 billion was invested, which was typical of years before. Time will tell if the venture capital (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, which