European agrifood technology start-ups are set to receive a funding boost after the European Investment Fund committed up to €30 million to a Finnish venture capital fund.
The money will go to Nordic Foodtech VC’s second fund, NFT.VC Fund II, which backs early-stage companies developing technology for food and agriculture, the EIF announced on Thursday.
Nordic Foodtech VC, based in Helsinki, is targeting €80 million and plans to invest in about 30 companies, mainly in Northern Europe, while also looking at opportunities elsewhere in Europe.
The fund reached a first closing of €40 million in April 2025, and the EIF commitment brings it close to its target size.
Many science-based agrifood companies in Europe struggle to raise financing at the earliest stages, when technology needs to move from research towards commercial use, the EIF said.
Focus on pre-seed and seed funding
NFT.VC Fund II will focus on pre-seed and seed investments — early rounds of funding that help a start-up develop its idea and begin building a business — including spin-outs from universities and research centres.
The fund will invest in ventures working on sustainable technologies for agriculture, food, health, aquaculture and the wider biosolutions industry.
“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,” said EIB Group vice-president Karl Nehammer.
Nordic Foodtech VC’s first fund invested in 18 companies across the Nordic and Baltic regions.
The EIF investment is supported by InvestEU, an EU programme that backs investment across the bloc, including an equity product for climate and environmental solutions.
