First, I wish you all the best for 2023!
We’ll come back to you shortly with our predictions and foodtech trends for the year. However, in the meantime, I’d like to share a wish and a thank you.
First, what can we wish for this year? We can already say that this year will be both challenging and full of opportunities:
- 2023 will be challenging as investments are still decreasing fast all over the ecosystem. This is mostly the case in established startups which have a hard time raising big rounds of financing. After a series of layoffs in late 2022, we can only expect that well-known startups will go bankrupt.
- 2023 will also be full of opportunities. Ideas and entrepreneurs still receive funding (much more than 2 years ago), notably at the early stages. This means that the idea of an upcoming food revolution is very much alive in the mind of investors and large companies. As I say often, there has never been a better time to launch your FoodTech startup.
Overall, I wish the foodtech ecosystem to be a bit more rational in the future. Companies without a hint of a viable business model were heavily funded. In their fall, they are taking down very good businesses and slowing others. Let’s wish that investors learned that even if volumes are bigger, the food system is slower to move than software (and that margins are smaller).
Second, a thank you to the 32 clients that trusted us in 2022. We worked with great companies from 10 countries with CPG leaders such as Nestlé, Ajinomoto or Danone, ingredient companies (Südzucker), retailers (Louis Delhaize), and financial companies (ING, MSCI). I hope we will keep doing great work together and with new partners in 2023!
