MOA Foodtech, a trailblazer in blending biotechnology and artificial intelligence within the AgriFoodTech food sector, has just closed a significant Series A funding round. Led by ICOS Capital, a European venture capital firm based in the Netherlands, this funding also saw contributions from Clave Mayor, Viscofan, SODENA, and Banco Sabadell. This financial boost is set to supercharge MOA Foodtech’s scale-up and commercialization efforts, positioning them at the vanguard of sustainable food production.

Transforming the Agri-Food Landscape

Founded in 2021 by Susana Sánchez, José María Elorza, and Bosco Emparanza in Pamplona, MOA Foodtech has a mission: to revolutionize the traditional food production model. The current model is a major contributor to global greenhouse gas emissions and deforestation. MOA Foodtech’s innovative approach uses fermentation technology to convert agricultural byproducts into nutritious, sustainable ingredients, fostering circular solutions within the agri-food sector. By upcycling these byproducts, MOA Foodtech significantly contributes to combating climate change, ocean acidification, and biodiversity loss.

According to recent data from our FoodTech Data Navigator, 620 startups and companies are leveraging AI and machine learning technologies to create a safer and more sustainable food system.

Scale-Up and Commercialization Efforts

The new funding will greatly enhance MOA Foodtech’s capabilities in scaling up operations and commercializing their products. The strategic investment aims to support a comprehensive market launch targeting international customers. 

“The funds will primarily be used to enhance our commercial strategies and further develop our AI platform, Albatros, which streamlines the creation of new ingredients and solutions, reducing both time and costs.” – José María Elorza, co-founder and CFO of MOA Foodtech

Harnessing Biotechnology and AI for Sustainability

MOA Foodtech’s core innovation lies in its use of biotechnology combined with artificial intelligence to develop high-value ingredients from agri-food byproducts like cereals, bagasse, and legumes. These ingredients are reintroduced into the industry and society through MOA’s proprietary fermentation process, contributing to a more sustainable ecosystem. Their AI platform, Albatros, plays a crucial role in optimizing this process, making it faster and more cost-effective.

Strategic Investment by ICOS Capital

ICOS Capital, based in the Netherlands, is known for its focus on Climate Tech Venture Capital, investing in early growth stage companies in Europe and North America that promote sustainability. Katarzyna Gil, Principal at ICOS Capital, expressed enthusiasm about the investment: “MOA Foodtech utilizes the combined potential of industry biotech and AI to deliver cost-competitive and carbon-efficient functional ingredients, addressing the global need for sufficient nutritional ingredients while applying circular approaches through valorizing agri-food side streams. We are very excited to be part of this scale-up financing round and we look forward to contributing our expertise and experience to the company’s growth journey.”

Pioneering a Sustainable Future

MOA Foodtech is not just about creating sustainable food ingredients; it’s about fostering a holistic approach to sustainability in the agri-food sector. By addressing key environmental issues and leveraging cutting-edge technology, MOA Foodtech is setting a new standard for what sustainable food production can achieve. This Series A funding round is a pivotal step in their journey towards making a lasting impact on the global food industry.

MOA FoodTech is among the Trailblazers of the Spanish FoodTech Ecosystem and among the 250+ European startups that made it to the 2023 FoodTech 500.

 

Don’t miss out! Be an Early Applicant for a chance to be a part of the 2024 FoodTech 500. Apply by July 31st, 2024, and fast-track your application to be reviewed sooner, giving you a head start in the assessment to join the ranks of the most innovative food tech startups. Know an innovative AgriFoodTech company that’s making waves? Nominate them for the next edition of the FoodTech 500. Read about all about what’s new in the 2024 FoodTech 500 and how startups, scale-ups, and ecosystem players can benefit from it.

 

Forward Fooding is the world’s first collaborative platform for the Food & Beverage industry via FoodTech Data Intelligence and Corporate-Startup Collaboration – Learn more about our Consultancy and Scouting Services and our Startup Network.