In 2025, venture capital entered a phase of heightened selectivity, prioritising technologies with fast validation cycles and clear, immediate returns. As a result, capital flows into verticals such as Agrifoodtech continued to narrow. Globally, the sector contracted by 12%, while investment in Spain declined by 31.3%, falling to €123 million. According to the report, this does not indicate a structural setback but rather a recalibration toward projects demonstrating strong technological impact and industrial scalability.

A resilient and expanding startup ecosystem

Despite the funding slowdown, Spain’s Agrifoodtech ecosystem continued to strengthen. The number of startups reached 416, reflecting a 5% year-on-year increase. The report also highlights significant milestones such as the launch of Europe’s first Agrifoodtech Regulatory Sandbox, driven by CNTA with national and regional government support, and Raíces, an acceleration program led by Eatable Adventures that serves as a strategic bridge between Spain and Latin America.

The study reveals growing professionalisation among founders: the average age rises to 42, with strong academic backgrounds and prior industry experience. Female representation remains a standout feature of the ecosystem, with 58% of founding teams led by women, far surpassing national averages for the tech sector.

Geographically, entrepreneurial activity is diversifying. Madrid (28%), Catalonia (18%), and Castile and León (12.3%) remain leading hubs, while Galicia climbs to fourth place, overtaking regions that traditionally occupied those positions.

A new wave of early-stage frontier innovation

Innovation remains distributed across core verticals such as Novel Foods, Agritech, and Retail & HORECA, complemented by advances in logistics, sensing, automation, precision agriculture, and circularity. Internally developed technologies represent the majority (58%), while university- and lab-based tech transfer remains limited at 15% – an area the report identifies as a structural bottleneck.

AI adoption continues to surge, now present in 48% of startups (+9 pp vs. 2024). Other leading technologies include biotechnology (36%), SaaS solutions (25%),

While the ecosystem is dominated by mature, market-ready technologies, the report notes a remarkable 500% increase in early-stage startups, signalling the emergence of new scientific and technological approaches that could shape the next innovation cycle. Spain maintains strong capabilities in applied research and breakthrough technologies, though the gap between scientific production and industrial deployment remains a major challenge.

“The decline in investment is not just cyclical, it reflects a transition toward a new stage that demands validated technologies, scalable models, and faster results. Agrifoodtech innovation has long shown its transformative potential. The ecosystem has proven resilient; now it must take the step toward strategic leadership, converting technological innovation into real industrial impact,” said José Luis Cabañero, Founder & CEO of Eatable Adventures.

For more startup news, check out the other articles on the website, and subscribe to the magazine for free. Listen to The Cereal Entrepreneur podcast for more interviews with entrepreneurs and big-hitters in the startup ecosystem.