An Israeli-led international consortium is set to invest some $100 million in Israeli food tech and agritech initiatives.
The consortium is made up of Finistere Ventures, a global agrifood investment leader, Israeli venture investor OurCrowd, Tnuva, Israel’s largest food manufacturer (in which Chinese conglomerate Bright Foods has a controlling share), and Tempo Beverages, a leading Israeli beverage company.
OurCrowd said in a statement that the partnership was created following the Israeli government’s establishment of an innovation incubator in northern Israel focused on food tech. Finistere Ventures, OurCrowd, Tnuva and Tempo Beverages will be bidding to operate the incubator as part of Kiryat Shemona’s planned innovation center. These companies already invest in various Israeli startups and initiatives.
Finistere Ventures co-founder and partner Arama Kukutai said, “Israel has become a top innovation hub in the FoodTech and AgTech arena. We are committed to expanding our local partner network and, most importantly, increasing our investment in, and support of, Israeli disruptors across the entire food and ag value chains as they look to penetrate the global market.
OurCrowd CEO Jon Medved said, “FoodTech is now one of the hottest dishes on the Israeli innovation menu. When four innovation master chefs Finistere, OurCrowd, Tnuva, and Tempo get together to cook and create the newest companies the results are going to be scrumptious.”
The companies said they will focus on Israeli technologies “throughout the food and beverage value chain – from alternative proteins and nutritional value improvements, to functional ingredients and supply chain efficiency.”