European Climate FoodTech Raised Over $2Bn in 2023, Surpassing the US for First Time
The annual Food for Climate Report by FoodLabs and Dealroom.co has analysed over 1200 VC-backed, climate-focused food startups across 40 segments, determining the state of the sustainable food and ag-tech ecosystem in Europe. The results show that European climate food tech startups raised over $2 billion in 2023, surpassing the US for the first time. Alternative protein startups raised $365 million; within this, fermentation-based ventures saw a twelvefold funding increase compared to 2020, raising $76 million. In 2024, fermentation startups have already raised $12 million, becoming the third-most-funded segment and surpassing plant-based alternative proteins. This year has also seen an increase in mycelium-based alt proteins. Alternative cocoa startups raised $69 million in 2023, more than twice the sum raised in 2022. Sustainable packaging and biomaterials …
