Worldwide the food supply chain is in dire need of innovations that aid the transition to a healthier and sustainable food system. Agrifoodtech startups with high potential solutions are now given an extra hand to get from pre-revenue stage to growth. Pymwymic, Europe’s oldest impact-driven growth investor, and StartLife, Europe’s first agrifoodtech accelerator, have partnered up to smoothen the transition between these vital startup stages and therewith shorten the time needed for promising new agrifood technologies to reach their full potential.
Pymwymic typically only partakes when a startup passes an annual turnover of a half million euro. Through this partnership with StartLife, the impact investor becomes involved in a much earlier stage. This is beneficial for both Pymwymic as well as the startups, explains Rogier Pieterse, their managing director.
“We know how strategic decisions in an early-stage can impact later stage developments. Through early involvement we can help startups to better line up for growth and follow-up funding. By doing so we, both Pymwymic and StartLife, want to help startups reach their full potential faster. And when it comes to follow-up funding, it clearly helps when we already have developed a good relationship with a startup.”
Impactful growth capital
The COVID-19 pandemic has emphasized the pressing need for sustainable changes in the food system. In order for startups to reach a position where they can truly start making an impact, they need growth capital. For this reason, StartLife has set course to further facilitate accessing growth capital for their portfolio startups. Now the accelerator welcomes Pymwymic as growth capital partner that is complementary to their existing investor partners.
Both Pymwymic and StartLife target impact-driven tech startups from Europe that provide healthy and sustainable solutions within the food supply chain, from farm to fork. “With StartLife predominantly supporting pre-revenue startups and Pymwymic backing early-growth startups to scale up further, our partnership is an excellent symbiose that paves the road for growth of much desired systemic innovation in the agri and food industry”, comments Lin Zhu, investor relations manager of StartLife.
New Health Food Systems Fund Ahead
The partnership of Pymwymic and StartLife is part of a larger collaboration agreement with Wageningen University & Research (WUR), one of the co-founders of the agrifoodtech accelerator. In the third quarter of this year Pymwymic expects to launch a new fund called Healthy Food System Impact Fund, a venture capital fund that invests in early to growth stage companies which are transforming the food system through innovative and disruptive technologies. The new fund will bebased on the sustainable food system approach model designed by WUR.
Founded in 1994, Pymwymic is the “Put Your Money Where Your Meaning Is Community”, a co-owned organization of European wealth holders who take a frontrunner role in the transition towards investing with care for people and planet. A community that consists of over 150 individuals, families, entrepreneurs and angel investors of different backgrounds, ages and nationalities. By combining knowledge, passion and money, Pymwymic brings credibility to the impact investing industry and continuously pushes for higher standards until investing with care for people and planet is the new norm.