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Agrana and Raiffeisen-Holding Niederösterreich-Wien have announced a joint investment of €5 million in the FoodLabs fund, a player in the European food and agricultural technology sector.

Each organisation is contributing €2.5 million to the third fund managed by FoodLabs, which boasts a diverse portfolio of over 60 companies focused on innovative solutions for food and climate challenges.

This strategic investment allows Agrana, a processor of agricultural commodities, and Raiffeisen-Holding, a private investment firm in Austria, to tap into emerging start-ups that are developing technologies relevant to their core business operations.

The collaboration aims to enhance their capabilities in agricultural research and food technology.

Stephan Büttner, CEO of Agrana, said: “In addition to our own projects, our investment in FoodLabs provides us with early-stage access to new technologies, enabling us to boost our innovative strength and integrate the insights of creative start-ups into our portfolio”.

Michael Höllerer, CEO of Raiffeisen-Holding, added: “We see ourselves as an enabler for promoting future-oriented solutions to social challenges. Our investment in FoodLabs is a crucial step in supporting innovations within the high-growth FoodTech segment."

Based in Berlin, FoodLabs specialises in early-stage venture capital and works with entrepreneurs and scientists to address global challenges in areas such as health, agriculture and climate.

Since its inception in 2016, FoodLabs has invested in numerous companies, including Infinite Roots and Formo, focusing on transformative solutions for the food supply chain and beyond.

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