Now in its fifth edition, the FoodTech 500 has gathered more than 1500+ applications from AgriFoodTech startups & scaleups globally in 2023, receiving applications from 77 countries, with 57 countries represented in the latest edition of FoodTech 500 list, shedding light on the FoodTech 500 initiative’s widespread reach and global influence. This year, the FoodTech 500 list showcased 39 companies from LATAM.  

LATAM plays an essential role in global food production. Known as the world’s breadbasket, it accounts for 13% of the worldwide production of agricultural and fish commodities and 25% of global food exports. OECD and FAO estimate that agricultural and fish production in Latin America and the Caribbean will grow by 14% over the next decade.

LATAM’s AgriFoodTech startup ecosystem remains smaller compared to those in Europe and the U.S., both in terms of funding level and the number of companies. In total, €14.6 billion has been poured into LATAM AgriFoodTech companies since 2014 (Source:  FoodTech Data Navigator). To compare, European and US Food is Tech startups raised €6.2bn and €8.3bn respectively in 2023. LATAM also counts fewer companies with only 480, as opposed to Europe’s 4000+ and the US’s 2000+ (Source: FoodTech Data Navigator).

The ecosystem is still in its early stages, but startups can count on a strong support system. So far, Latin America makes up 1% of all global investment, despite the region being home to 8.5% of the global population and a top food exporter. Fortunately, the region already counts 200+ investors, 5 accelerators, and 13 active CVCs (Source:  FoodTech Data Navigator). More investment volume and diversification are needed for LATAM’s ecosystem to become a serious global contender.

Overall, the top 3 best-performing countries in 2023 were Brazil, Colombia, and Chile, accounting for 88% of all funding in LATAM in 2023. Brazil still accounts for the majority of deals (19), but new opportunities are also arising in Chile (10),  Colombia (2) and Mexico (5). Other countries have less mature ecosystems that will likely grow in the future (Source:  FoodTech Data Navigator).

To learn more about the LATAM ecosystem, check out the 2023 LATAM AgriFoodTech Ecosystem Report here.

You can access the full 2023 FoodTech 500 ranking and global AgriFoodTech ecosystem insights here.

Taxonomy: To learn more about Forward Fooding taxonomy click here. 

AgriFoodTech reports: Explore all other AgriFoodTech-related reports here.

Check out the full 2023 LATAM companies split by Activity:

Next-Gen Food & Drinks

• Nutri Co (Peru)
• NUU (Brazil)
• Nude. (Brazil)
• Mycobites (Chile)
• NanoInGreen (Argentina)
• Tomorrow Foods (Argentina)
• Typcal (Brazil)
• Zabio (Peru)
• Optiprot (Mexico)
• Propel Foods (Mexico)
• Done Properly (Chile)
• Quelp (Chile)

AgTech

• Verqor (Mexico)
• Pink Farms (Brazil)
• Puna Bio (Argentina)
• Instacrops (Chile)
• SiembraCo (Colombia)
• AgroUrbana (Chile)
• Neltume (Chile)
• Unibaio (Argentina)
• APOLO Biotech (Argentina)
• Veloz Bio (Mexico)
• ByBug (Chile)
• ClearLeaf (Costa Rica)
• Exacta BioScience (Chile)

Food Delivery

• AppJusto (Brazil)

Kitchen & Restaurant Tech

• OlaClick

Food Safety & Traceability

• Wiagro (Argentina)

Food Processing

• Terraflos (Uruguay)
• Bioeutectics (Argentina)
• Food 4 You (Argentina)
• Kresko RNAtech (Argentina)
• Naturannova (Chile)

Surplus & Waste Management

• Nilus (Argentina)
• Food To Save (Brazil)
• B4waste (Brazil)
• SaveFruit (Mexico)
• ConnectingFood Brazil (Brazil)
• Nat4Bio (Argentina)

To learn more about the 2023 FoodTech 500 ranking and global FoodTech ecosystem insights, visit forwardfooding.com/foodtech500.

Are you an AgriFoodTech startup or scaleup? Early Applications for the 2024 Edition of the FoodTech 500 are now OPEN HERE.

OR nominate some breakthrough companies from your network and encourage them to apply HERE.

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