Nordic Foodtech VC Just Landed a Major Boost for Food Tech

Jan de Vries · 2026-09-10

Finland's Nordic Foodtech VC has secured a commitment of up to $32.5 million for its second fund, targeting $86.7 million to invest in early-stage AgriTech companies across Northern Europe. The European Investment Fund (EIF) provided the backing, which will help the fund support around 30 startups focused on sustainable and resilient food production systems. This isn't just another funding round. It's a signal that Europe is serious about building a food system that can withstand climate shocks and feed a growing population. And it's happening right now. ### Why This Investment Matters Food security is a hot topic, and for good reason. Climate change, supply chain disruptions, and a growing global population are putting pressure on how we produce what we eat. Nordic Foodtech VC is betting on DeepTech solutions that can make a difference. "With EIF's support, we're growing our reach across all of Northern Europe," says Mika Kukkurainen, co-founder and managing partner. "Our portfolio companies are building the DeepTech solutions Europe needs for food security, resilience and nutrition. We believe Europe has a unique opportunity and talent to lead in building the future for food and agriculture." The fund's target size is $86.7 million, and it's already raised $43.3 million in its first close back in April 2025. The EIF's pledge, part of the European Investment Bank Group, should attract more private investors and push the fund close to its goal. ### The Bigger Picture: European AgriFoodTech Is Heating Up This investment comes amid a flurry of activity in European agriculture, food, aquaculture, and biosolutions. In 2026 alone, notable rounds include: - $41.7 million for German land-based aquaculture company Oceanloop - $16.3 million for French biological crop-protection startup Agriodor - $10.5 million for Belgian crop-engineering company Rainbow Crops - $8.7 million for German FoodTech company Foodforecast - $6.8 million for climate-smart crop-breeding company Computomics Plus, Finland's own Avenue Biosciences raised $5.2 million in the protein-engineering BioTech sector. "While Europe has excellent research in food and agriculture, promising technologies need capital and expertise to make the leap from the laboratory to the market," adds Karl Nehammer, EIB Group Vice-President. "Our investment will help more young companies turn new ideas into businesses that strengthen food security, climate resilience and European competitiveness." ### What Nordic Foodtech VC Looks For Founded in 2019, Nordic Foodtech VC claims to be the first Nordic VC fund focused on practical solutions for agriculture and food. It manages two funds: a $45.5 million fund launched in 2020 and the second fund launched in 2025. The VC invests in pre-Seed and Seed-stage companies that aim to make a positive impact. They're looking for startups solving business-critical challenges, from new protein sources to healthier eating habits. Initial investments are up to $2.2 million, with reserves for follow-on investments. The team is based in Helsinki and Copenhagen and operates across Europe, with a particular focus on research spin-outs in the Nordic and Baltic countries. The first fund invested in 18 companies across those regions. Fund II will continue that focus, targeting early-stage ventures—including spin-outs from universities and research centers—developing sustainable technologies for agriculture, food, health, aquaculture, and broader biosolutions. So if you're building something in this space, take note. There's money out there, and it's looking for bold ideas.