Maia Ventures launches €55m fund for agrifood tech startups – reveals details of next investment

Maia Ventures has emerged from stealth with a €55m fund. It will back 20–25 early-stage AgriFoodTech startups in Italy, Europe, and potentially, the US.

The LP mix combines institutional backers – European Investment Fund and CDP Venture Capital – with Italian food corporates and family offices.

Initial tickets range from €0.5–1.5m. Half the fund is reserved for follow-on rounds.

'No green premiums'

The fund's founding partners, Andrea Galassi and David Bassani, say that they're also not looking for startups which base their business model on green premiums or regulatory breakthroughs that may not arrive.

“There needs to be another value-add – cost savings, efficiency, scalability,” Galassi tells Impact Loop.

Maia targets solutions at the intersection of food, health, and sustainability. It has already made six investments, including in alt-chocolate startup Foreverland.

Galassi says its next investment will be in a startup using computer vision to sort food waste.

The new fund aims to give startups more than just cash, he adds, helping them forge industry partnerships, build commercial ties, and chart clear paths to exit.

Putting science first

Before Maia, Galassi co-founded Wash Out, a green-tech mobility startup sold to Telepass. He also helped scale Miscusi, a B-Corp restaurant chain. David Bassani was investment partners at AB InBev’s (the largest brewer in the world) $500M+ corporate VC – ZX Ventures – where he made deals across stages in agrifood tech.

With their new fund, the founders are adamant they want science baked in.

“The technical angle is fundamental. Our first partner was a scientist. That drives investment decisions,” says Bassani.

Alice De Porcellinis, a PhD in plant biotechnology, leads technical due diligence at Maia.

Funding dip

Globally, Agrifood tech funding has fallen from €50b in 2022 to €16b last year. Nevertheless, Bassani sees opportunity in the downturn.

“Some early plays failed not because it wasn't a good idea or technology, but because of the business model. You need customers ready for the solution, not just good ideas,” Bassani says.