Startups and scaleupsCorporations

Nice Tech (Nice Fruit)

Technology in the food sector capable of freezing any organic matter without chemical additives and without breaking its molecular structure

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Andorra la Vella, Andorra

Founded2009

Team78

Recorded funding€35.0m

Recorded valuation€350m

Activity and background

Nice Tech, also known as Nice Fruit, is a food technology company that has developed a disruptive, 100% physical process to freeze and thaw produce while maintaining its original organoleptic properties. The company's origins trace back to a research and development project that began in 2003 with the UPC (Universitat Politècnica de Catalunya) and a company named Fenoexit. The initiative was spearheaded by Jose María Roger, an entrepreneur who serves as the founder and president of Nice Tech. Roger began founding companies at a young age and has a diverse entrepreneurial background, including starting the first windsurfing school on the Costa Dorada.

The core of Nice Tech's business is its proprietary freezing technology, which is protected by industrial secrecy. This process picks fruits and vegetables at their peak ripeness and, unlike conventional freezing that causes water particles to expand and break cell walls upon thawing, Nice Tech's method allows these particles to expand without causing damage. This results in a defrosted product that retains its texture, flavor, appearance, and nutritional value, as if it had never been frozen. The technology is purely physical, utilizing no chemicals or additives. This approach addresses significant challenges in the food industry by extending the shelf life of perishable goods, reducing food waste at the source, and simplifying logistics.

Nice Tech operates on a B2B model, forming strategic partnerships with major global food producers. Its business strategy involves establishing production plants in key agricultural regions. For instance, it has partnered with Del Monte in the Philippines for pineapples, Leomain Agricol in Morocco for citrus, La Unión in Almería for vegetables, and Corporativo La Viña in Mexico for avocados. These collaborations allow Nice Tech to process produce at the origin, preserving freshness and minimizing waste during transportation, as only the edible portions are shipped. The company serves various sectors, including the food service industry, and its products are distributed through partners like La Rousse Foods in Ireland.

Entity information

Headquarters: Andorra la Vella, Andorra
Founded: 2009
Team: 78
Official website: https://nicefruit.com/
Sectors: B2B, food, innovative food
Activity started: 2009
Customers: B2B
Industries: food, innovative food
Technologies: hardware, deep tech
Recorded funding: €35.0m
Recorded valuation: €350m

Locations

Barcelona, Catalonia, Spain
carrer del Coure, Polígon Industrial Sant Francesc, Castellbisbal, Vallès Occidental, Barcelona, Catalonia, 08755, Spain
Andorra la Vella, AD500, Andorra

Investors

Moira Capital Advisors · Growth Equity VC
Polytechnic University of Catalonia · Spinout

Recorded rounds

Date	Investors	Type	Amount	Recorded valuation	EV / Revenue	EV / EBITDA
Jan 2009	Polytechnic University of Catalonia	Spinout	—	—	—	—
Jul 2017 (estimate)	Moira Capital Advisors	Growth Equity VC	€35.0m	€350m	72.8x	-166.8x

Recorded technology stack

Development: google font apimodernizrphpreacttwitter emoji (twemoji)tweenmaxjquery
Analytics & Monitoring: google analyticsgoogle tag manager
Content & Social: wordpress
Design & Media: youtube

Historical financial indicators

Historical financial indicators	Date	Amount
Revenue growth	2016	13 %
EBITDA margin	2015	(22 %)
EBITDA margin	2016	(44 %)
Profit margin	2015	(27 %)
Profit margin	2016	(44 %)

Estimate

Areas and specialisation

Ecosystem indicator: 67

Areas and specialisation

Deep technology and life sciencesScience-basedSpinoutChemistryOrganicPrimary productionMolecularfood technologyfrozen fruitfood preservationB2B food processingagricultural technologyfood waste reductionshelf life extensionphysical freezing processfruit logisticssustainable food productionproduce preservationJose María Rogerorganoleptic propertiesfood supply chainpost-harvest technologyfrozen vegetablesstrategic food partnershipsinnovative food freezingtexture preservationnutrient retention