The Israeli company Superfruiter plans to enter the European market. The company has chosen Spain as the starting point to launch a range of dwarf melons with edible rind. The company is making an initial investment of 5 million euros with which it seeks to acquire a portion of the Spanish market, valued at more than 50 million annually. The first trials have already started in Almeria and Murcia, and the company has plans to expand to Extremadura and Castilla-La Mancha.
Superfruiter specializes in genomic selection to develop melon varieties weighing no more than 800 grams and other cherry-sized varieties with edible rind. The company achieves this thanks to its patented process called Gen Superfruiter. Melons are grown on more than 1.3 million hectares worldwide and the company sees an opportunity in the Spanish market, despite the recent decline in production that has relegated Spain to the third-biggest melon producer in the world.
The investment banking firm Eureka Corp is advising Superfruiter on the project in Spain. The development of mini melons is supported by the Volcani Institute of Agricultural Research in Israel. This project aims to introduce innovative fruits into the market and to promote sustainability in agriculture by reducing water and fertilizer use by 30%.
Genetic selection will allow yellow melon plants to produce up to ten fruits of half a kilo each, a higher number than the four 1.2-kilo pieces they normally produce. Superfruiter is already negotiating with supermarket chains in the EU and the UK and with renowned chefs to include these mini melons on their menus.
Superfruiter expects to consolidate its presence in the global market from Spain by 2025 and aspires to achieve a turnover of 100 million euros by the end of 2030. The company continues looking for investors for an initial financing round ranging from 4 to 9 million euros.
Source: elespanol.com