The number of deals completed in the Europe, Middle East and Africa food tech space plummeted to just two transactions in August, compared to five in July and a massive 11 investments in June. According to data from Tracxn, this represents the lowest level of deal-making activity since the start of the year.
Using its technology platform tracking over 30 million companies to monitor deal-making and start-ups globally, Tracxn has provided FoodNavigator with data on the food tech investments made in the EMEA region.
According to the data supplier, two firms were able to attract funding in the period. App-based food delivery platform Lezzoo closed its seed funding round, while vegan marketplace concept VeganNation secured series A funding.
VeganNation: Gearing up for global debut
Israel-based VeganNation, a company creating the world’s first vegan ecosystem, closed a $10 million funding round from private investors.
The company revealed it is gearing up for the global debut of the VeganNation platform on webapp, iOS, and Android.
VeganNation is the first ecosystem of vegan activists working together to make a positive impact on the environment. The platform uses blockchain technology to ensure a transparent supply chain and provide a designated coin to serve the community members in all their transactions using the VeganNation digital wallet.
The web and mobile marketplace includes several components:
- Social Content Sharing: A one-stop-shop to find the latest vegan news, accumulated from user-generated content, including articles, blog posts, recipes and restaurant recommendations.
- Meal Sharing: Members are able to host vegan meals at home for other members, search and find vegan restaurants, and meet up with fellow vegans wherever they are in the world. They will also be able to cook meals for delivery purposes, utilizing existing food delivery services.
- E-commerce: A vegan and environmentally sustainable online marketplace for products and services that facilitates transactions using its transparent, safe, and blockchain-based VeganCoin currency.
“This is a major milestone in uniting all environmentally conscious consumers worldwide into a nation founded on sustainable development, generosity, and kindness towards all living beings,” said Isaac Thomas, CEO and Co-Founder of VeganNation. “And, undoubtedly, another huge step toward successfully establishing the year of the vegan.”
Lezzoo graduates ‘start-up school’ with seed investment
Lezzoo graduated from the Y Combinator start-up school in August when it secured investment of $150,000 from the incubator.
According to Lezzoo’s founders, the business was launched in response to the ‘absence of good food delivery services’ in Iraq.
The startup currently delivers food, groceries and pharmaceuticals in five Iraq cities including Baghdad, Ebril, Duhok, Sulaymaniyah, and Zakho.
Starting with on-demand delivery services in Iraq, Lezzoo wants to build an app that covers the entire Middle East.
