Vitagora has partnered with Digital Food Lab, along with Sopexa, to publish the first report on French FoodTech. This report is based on the study of the 400 FoodTech startups founded in France since 2013. They have raised €317 million in funding since 2013 with a threefold increase in the amount invested between 2015 and 2016.
As a recognised leader of gastronomy and the world's fourth largest food exporter, France could be poised to reap the benefits FoodTech innovation. This report focuses on the number and investment successes from 2013 of French FoodTech startups. Also looking at geographical distribution, the report evidences a major hub in the Paris region, but one that Lyon as well as other regional centres are starting to challenge. Finally, the report looks at the trends and areas of development, with meal and grocery delivery still dominating investments.
Christophe Breuillet, Director of Vitagora and ToasterLAB, Vitagora's FoodTech acceleration program, explains the choice to join forces with Digital Food Lab to produce this report: "Food business is evolving at an astonishing rate, mainly due to the influence of digital technologies. The creativity and agility of young FoodTech entrepreneurs represents a huge potentiel for France to mark out its leadership in the face of these changes. In order to give startups the best chances of succeeding, we need to remove the obstacles to the cross-fertilisation of ideas, experiences and expertise within an international innovation ecosystem. Vitagora created its ToasterLAB program to carry out this mission. And the additional insights provided by this report help us to see more clearly the needs and challenges of our foodtech startups."
ToasterLAB has just concluded the selection of its third cohort who will shortly be announced.
To download the report "FoodTech: an opportunity for France", click here.