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NotCo among the world’s ten most important foodtechs

InvestChile - February,22,2021

The FoodTech500 list, developed by Forward Fooding, evaluates every company that is leveraging technological innovation and ICT to develop efficient, effective and sustainable production in the food industry. 

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NotCo, the Chilean startup founded by Matías Muchnick and backed by investors like Jeff Bezos, marked a new record in its short history by becoming the first Chilean company to be included in the FoodTech500 list, developed by Forward Fooding.

What is more, the collaborative platform also ranked it in the top 10 of those 500 companies that "that are acting as a force of good for creating a brighter future of food" and are "the most inspiring in the AgriFoodTech sector".

“Being included among the 500 most important foodtechs in the world and, better still, among the top 10, is the reward for all our hard work over the last five years. The fact that we are being talked about right around the world, as a Chilean company that is using technology to disrupt a highly obsolete industry, makes us feel very proud,” Matías Muchnick told Chilean newspaper DF.

“The award says it all: it’s for people who are doing things really well and acting as a force of good. It's fantastic to be among the global top 10 and it’s giving us the same level of exposure as being on the Forbes list," he said. "It's yet another sign that we're on the right track."

Forward Fooding explains that the list evaluates every company that "is leveraging technological innovation and ICT (Information and Communication Technologies) to develop efficient, effective and sustainable production in the food industry, agriculture and horticulture, with the capacity to redesign the current food system by addressing some of the major problems affecting productivity, the environment and food safety.”

For this year’s edition, more than 2,052 applications were received from over 60 countries and the 500 winners that make up the official 2020 FoodTech 500 are a diverse range of companies that are addressing food challenges around the globe. The report describes it as "a list of top innovators and disruptors in the industry and the go-to leaders of this emergent and ever-evolving sector".

It also states that 423 companies have received investments over the last year and 374 of them are generating revenue. Furthermore, they have raised over 4.1 billion euros in funds over time.

The platform also indicates that 374 companies use tech to revolutionise the food system to be more sustainable, 280 develop products/services that help reduce the climate crisis and 141 companies say their products/services use animal friendly processes.

Source: Diario Financiero.

To find out more about artificial intelligence in Chile and investment opportunities, see this article.

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Topics: The Not Company- Foodtech- FoodTech500- Forward Fooding

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