Trending FoodTech Startups will be discussed in this article. The global Food Tech market is expanding quickly thanks to the eCommerce boom. In fact, VCs made around $40 billion in investments in 2021 alone. Up to 2027, Emergen Research anticipates that this expansion will maintain a consistent compound annual growth rate of 6%. With this projected growth rate, the market size for this sector will reach $342 billion. In this article, we showcase 25 businesses in the field of food technology that are already making a significant effect.
Top 25 Trending FoodTech Startups In 2023
In this article, you can know about FoodTech Startups here are the details below;
1. Flink
- 5-year increase in searches: 200%
- Growth of searches is exponential.
- founded in 2020
- Location: Germany’s Berlin
- $1 B in funding (Series B)
What they do: Flink is a platform for delivering groceries and food. They claim to deliver groceries in 10 minutes, and they operate in Europe. The startup is currently active in 35 European nations.
2. Local Restaurants
- 5-year rise in searches: 354%
- Growth of searches is exponential.
- founded in 2020
- Cupertino, California is the location.
- $25M in funding (Series A)
What they do: Local Kitchens is a virtual delivery kitchen where a number of Bay Area eateries are consolidated into a single website. Customers are now able to place orders from several restaurants utilizing a single, integrated interface. Local Kitchens has collaborated with 19 Bay Area eateries so far.
3. PirPos
- 5-year rise in searches: 1166%
- Growth of searches is exponential.
- founded in 2016
- Location: Colombia’s Barranquilla
- Finance: Not disclosed
What they do: PirPos creates online tools for the food service sector. The POS system, which is cloud-based and used to handle orders, bills, and inventory, is the startup’s main selling point. Over 1,500 businesses presently utilize the platform. Pitchbook predicts that this year’s revenue for the firm would climb year over year by 81%.
4. Ready Burger
- 5-year growth in searches: -35%
- Growth status of searches: Peaked
- founded in 2020
- Location: England’s London
- funding: $2.4M (crowdfunding for equity).
What they do: A company called Ready Burger runs a grocery store where cheaper plant-based burgers are sold. The business only does business online through its website and other online platforms. In July 2021, the company started its selling operations.
5. Onvi
- 5-year increase in searches: 466%
- Growth of searches is exponential.
- founded in 2016
- Location: England’s London
- Financed with $15.8M (Seed)
What they do: In order to let restaurants and bars create online customized menus and enable consumers to instantly order and pay online without having to download an app, Onvi is a mobile Order & Pay solution. The software also offers tools for handling and processing orders. Transactions at the startup have increased by 1,106% since July 2020.
6. Green Culture
- 5-year rise in searches: 71%
- Growth of searches is exponential.
- founded in 2011
- Specifically, Misato, Japan
- Finance: Not disclosed
What they do: Green Culture is a food technology business that creates meat alternatives from vegetables. Additionally, the business has a website where customers can make purchases. Pitchbook claims that Green Culture will use the $2.27M in funding to create a new vegetarian meat product.
7. PeAR Technologies
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- Established in 2018
- Location: India’s Ghatkopar
- $413.6K was donated (seed).
What they do: PeAR Technologies offers augmented reality (AR) meal menus that clients may access by scanning a QR code with their smartphone. Restaurant patrons can view a 3D representation of the meal they want to order thanks to the technology that scale-converts photos to 3D models. The business asserts that it can assist restaurants in upping their revenue by 20%.
8. Elite Candy
- 5-year rise in searches: 225%
- Growth of searches is exponential.
- Founded in 2017
- Austin, Texas is the place.
- $200K (Pre-Seed) in funding
What they do: Elite Sweets makes freshly baked, gluten-free, and protein-rich doughnuts. Additionally, they have created a website where they sell their goods directly to customers. Revenue for the startup climbed year over year by more than 56%.
9. Plant Power Fast Food
- 5-year rise in searches: 31%
- Growth status of searches: Peaked
- founded in 2015
- San Diego, California is the location.
- Financed with $7.5M in Series A
What they do: Plant Power A fast food restaurant franchise called Fast Food sells vegan food at reasonable prices. They use technology to create plant-based meat alternatives, which they then market and sell on-site. According to the firm, their hamburgers utilize 99% less water than regular beef-based hamburgers.
10. TurtleTree
- 5-year increase in searches: 400%
- Growth status of searches: regular
- founded in 2019
- Singapore, Singapore is where.
- $39.4M in funding (Series A)
What they do: TurtleTree manufactures pure, fermented milk products using cell-based technology. It produces milk without using any animal products by using mammary cells. To create goods that aid cellular growth, the firm and JSBiosciences have formed a strategic alliance.
11. Beer Cartel
- 5-year growth in searches: 122%
- Growth status of searches: Peaked
- founded in 2009
- Australia’s New South Wales is the place.
- Finance: Not disclosed
What they do: Beer Cartel runs an online store where customers can buy beer, beer mugs, and beer-themed gifts. The business also provides monthly subscription plans. Through their portal, Beer Cartel sells more than 1,000 craft brews.
12. FitnessGenes
- 5-year rise in searches: -100%
- Growth status of searches: Peaked
- Founded in 2013
- England’s Bicester is the place.
- $6.6M (Series A) in funding
What they do: FitnessGenes is a platform for DNA testing that analyzes the data and creates a personalized diet and exercise plan. The company’s projected annual revenue is $3M, and its YoY employee growth rate is 4%.
13. CoverManager
- 5-year increase in searches: 2400%
- Growth of searches is exponential.
- founded in 2015
- Spain’s Seville is the place.
- $55.1M in funding (Series A)
What they do: CoverManager is a high-end bars and restaurants-focused hospitality management platform. The software specifically manages waitlists, reservations, cancellations, and online and in-person food orders. Over 3,500 companies presently use the platform. Additionally, 40 of their clients are Michelin-starred establishments. According to Pitchbook, the business expects its YoY sales to climb by 134% in 2021.
14. Jumbotail
- 5-year increase in searches: 200%
- Growth status of searches: regular
- founded in 2015
- India’s Bangalore is the place.
- $151.3M in funding (Series C)
What they do: Jumbotail runs a food and grocery online marketplace. The platform offers services like credit solutions, point-of-sale system integration, supply chain logistics, and online ordering software. These services establish a food ecosystem that makes it simpler for customers to purchase foods at lower costs. Over the course of 5 investment rounds, 24 investors have financed the company.
15. Sid’s Farm
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- founded in 2014
- Location: India, Hyderabad
- Money: $1 million (convertible note)
What they do: Sid’s Farm is a young dairy company that uses technology to make milk that is devoid of hormones, antibiotics, and preservatives. Physical, chemical, and microbiological testing is performed on their products. The startup revealed that it is currently seeking $3.4M in angel capital.
16. Barogo
- 5-year increase in searches: 400%
- Growth status of searches: regular
- founded in 2014
- Location: South Korea, Seoul
- $60.6M in funding (Series C)
What they do: Barogo is a technology firm that provides the food industry with e-commerce and meal delivery services. Customers may place purchases and have their orders delivered to their addresses via the startup’s app.Barogo has generated over $100M in total income to this point.
17. Hungryroot
- 5-year increase in searches: 200%
- Growth of searches is exponential.
- founded in 2015
- New York, New York is the location.
- $75.4M in funding (Series C)
What they do: Hungryroot predicts and delivers groceries and dishes that are appropriate for each person using AI and predictive technology. By asking users to complete a quiz to help the company better understand their preferences, the business is able to tailor deliveries to each unique customer. By using the Hungryroot platform, consumers are said to save up to $22 each week.
18. Yummy Bazaar
- 5-year rise in searches: 30%
- Growth status of searches: regular
- founded in 2015
- Glassboro, New Jersey is the location.
- Funding: $5.6M (Unknown Series)
What they do: Yummy Bazaar runs an online market where they buy real food and ingredients from all around the world and sell them on their website. Over a thousand international brands are carried and sold by the company.
19. Frubana
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- Established in 2018
- Location: Colombia, Bogotá
- $271.1M in funding (Series C)
What they do: Frubana is a business-to-business online grocery and ingredient platform that assists small merchants, bars, and restaurants in sourcing their agricultural products directly from farmers. The annual income of Frubana is thought to be $20M.
20. Market Kurly
- 5-year increase in searches: 300%
- Growth status of searches: regular
- founded in 2015
- Location: South Korea, Seoul
- $702.8M in funding (private equity)
What they do: Market Kurly is a logistics and food delivery company that collaborates with neighborhood shops and farms to sell their goods online. Users can order food and groceries online and have them delivered the next morning. The firm generated $806M in revenue last year, an increase of 119% over the previous year.
21. DayTwo
- 5-year rise in searches: -100%
- Growth status of searches: Peaked
- founded in 2015
- California’s Walnut Creek is the location.
- $90.4M in funding (Series B)
What they do: DayTwo is a platform for managing microbiome health. It provides personalized nutritional advice that complies with the standards needed for patients with diabetes and prediabetes. According to the business, its nutritional regimens have given consumers up to 64% more energy and up to 44% better sleep.
22. Harvie Farm
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- founded in 2016
- Pittsburgh, California is the location.
- Finance: Not disclosed
What they do: Harvie Farm offers an online marketplace that links customers with regional farmers and vendors. Orders placed on the website can also be delivered to homes via the platform. Over 250 farms and craftspeople across the country have partnered with the firm.
23. MaxAB
- 5-year increase in searches: 800%
- Growth status of searches: Peaked
- Established in 2018
- Cairo, Egypt is the location.
- $101.2M in funding (Series B)
What they do: MaxAB is a platform that links suppliers to grocery and food shops. By allowing all prices to be seen by all stakeholders, the platform fosters price transparency. It also makes logistics and payments between suppliers and retailers easier. Over the course of 4 investment rounds, 12 investors contributed to MaxAB.
24. Sharebite
- 5-year rise in searches: 66%
- Growth status of searches: Peaked
- founded in 2015
- New York, New York is the location.
- $62.9M in funding (Series B)
What they do: Sharebite is a website that enables users to place meal orders. The app also offers a social component, allowing users to see which dishes are popular among their friends and neighbors. The firm distributes one meal for each meal bought through their platform and was founded with the goal of reducing world hunger.
25. Snackible
- 5-year increase in searches: 300%
- Growth of searches is exponential.
- founded in 2015
- Location: India’s Mumbai
- Investment: $425K (Seed)
What they do: Snackible creates a variety of healthy snack foods that are lactose- and gluten-free, sweet, sour, low calorie, high fiber, and protein. Additionally, the business uses web channels to conduct direct sales to its clients. Eight investors have contributed to the funding of Snackible, with Mumbai Angels being the most significant.
Conclusion
Consumers now have more immediate access to high-quality, wholesome food gratitude to startups in the food technology sector. Additionally, companies will be able to produce and sell food of all kinds at a lower cost and with greater profitability. As can be seen from our list, the development of supply chain, logistics, and eCommerce technology supports and accelerates growth in this industry.
