June 26, 2019

Israel’s “Food Tech” Sector is Booming

“It’s been a *big* year for Israeli Food-Tech, with four major deals this year already:

AB InBev, which owns Budweiser, bought Weissbeerger for $80M. This was about analytics to provide insights into consumer preferences and habits.

International Flavors and Fragrances (IFF) bought Frutarom for $7.1B –this was about R&D and market share.

Takeaway.com bought online food marketplace Ten Bis for $157M –this was about buying a successful platform for hungry techies and exporting it abroad.

And then came the banner deal: Pepsico bought SodaStream for $3.2B. This is hugely important for Pepsi –who have been trying to buy SodaStream for a while as it tries to brand itself as a company that cares about people’s health.

Foodtech in general is a growing trend around the world, and there are specific areas where Israel especially stands out. And stand out it has. Start-Up Nation Finder is tracking some 250 currently active companies working in the field –a steady increase in the number of companies over the past few years. Investment activity has been strong for years now, with between 19–33 venture-backed investments rounds annually since 2014 and an overall increase in total funding annually. In 2017, Food Tech companies brought in $117M total in 27 rounds. Exits—even excluding Frutarom—have been growing in value and number, too.”

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