Stay up to date with the most recent news regarding investments in the agrifood tech industry and sustainability.
Israeli cultivated meat startup Aleph Farms has raised $105 million in a Series B funding round to bring its cultured, slaughter-free meat to market next year. The company announced on Wednesday that the investment was led by the Growth Fund of L Catterton, an American-French global consumer-focused private equity firm, and DisruptAD, the venture capital arm of Abu Dhabi’s ADQ company and one of the largest venture platforms in the Middle East.
Meati Foods, which makes whole-cut meat alternatives from mycelium, raised $50 million in new funding in what it said in a release is an oversubscribed investment round. The Colorado-based company plans to use the money to finish building an 80,000-square-foot plant, which will be used to make product for a planned commercial launch next year. The company also plans to double its employee base in preparation for the launch.
Nature’s Fynd, based in Chicago, has raised $158 million in funding from investors including Bezos, Gates, and Al Gore. The company’s meatless breakfast patties and dairy-free cream cheese are scheduled to hit grocers’ shelves later this year, with other meatless products including burgers, chicken-less nuggets and yogurt in development.
Already standing as one of MENA’s most-funded startups, according to Forbes, UAE-based cloud kitchen operator, Kitopi, has announced the successful close of a $415M Series C investment. Led by Softbank Vision Fund 2, with participation from Chimera, DisruptAD, B. Riley, Dogus Group, Next Play Capital and Nordstar, the investment will allow the startup to take the big leap of expanding out of the region and into Southeast Asia, a market that is experiencing remarkable growth in online food delivery.
peAR an augmented-reality-based in-restaurant ordering app has raised INR 2.5 Cr in a Pre-Series A round led by Inflection Point Ventures.“The funds raised will be utilized in building 3D Modelling technology for augmented reality, to advance the B2C app, along with this, the startup will launch in 4 cities – Mumbai, Bangalore, Delhi/NCR, and Pune. The startup is also hiring across roles to strengthen the team. With the funds raised, peAR aims to reach 15,000 orders monthly by the end of this year,” peAR in its statement said.
Germany’s Agrando has raised €12 million ($14.3 million) in Series A funding, which it claims is the largest round on record at that stage for an online agribusiness marketplace startup. Yabeo Impact led the round, with new investors Sony Innovation Fund and Investbridge joining in. June Fund and JLR Star were among the return investors to participate in the round.
US non-alcoholic brewer, Athletic Brewing Company, has closed a $50 million funding round to expand its brewing capacity in response to growing consumer demand. The Series C round was led by existing Athletic investors and board members Alliance Consumer Growth and TRB Advisors, with other investors including athletes, entrepreneurs and celebrities, such as Blake Mycoskie, Lance Armstrong, Justin Tuck and JJ Watt.
P&P Optica (PPO), a leader in automated inspection and insights for the food industry, has closed its Series B funding round. The round was led by Ag Capital Canada, with new investor Synovus Family Office as well as existing investors Fulcrum Global Capital, Export Development Canada (EDC) and others.
Agro.Club, a Delaware City, Del.-based agtech startup, raised $5M in Series A funding. The round was co-led by Rabo Frontier Ventures and VentureFriends, with participation from existing investors Speedinvest and Elevator Ventures.
Thursday, Micropep technologies, a France-based startup, announced it had raised $10 million in an oversubscribed Series A investment. What brings attention to the startup is its innovative use of peptide-based biological products to boost plant health and take on tough-to-control weeds.
London-based vegan fast-food restaurant Ready Burger has announced the close of a hugely successful crowdfunding campaign, raising £2 million in an oversubscribed campaign. The 100% plant-based QSR brand reached its initial £1.5 million target in a matter of hours before extending.
Cloverly, an Atlanta-based, early-stage startup, has developed an API that helps companies measure and then offset their carbon emissions. Today the company announced a $2.1 million seed round. TechSquare Ventures led the round with participation from SoftBank Opportunity Fund and Panoramic Ventures along with Circadian Ventures, Knoll Ventures and SaaS Ventures .
Sustainable and traceable plant-based food manufacturer, The Single Origin Food Co (Sofco) has closed a US$1.1 million seed funding round. The company has developed a plant-based honey substitute launched via Sprouts Farmers Market. Now, the capital raised will be directed toward expanding the product’s rollout across other U.S. stores.
M&A & IPOs
Masayoshi Son. The surprise deal, which must be ratified by shareholders and could still be trumped by a rival bidder, was announced early Sunday morning.
Traeger Grills ("Traeger"), the innovators behind the original wood-pellet grill and the driving force behind a digitally enhanced outdoor cooking experience, announced tuesday the acquisition of MEATER, a global leader in wireless meat thermometers for all cooking and preparation methods.
Greek-yogurt maker Chobani could be valued at more than $10 billion in its initial public offering (IPO), a person familiar with the matter told Reuters on Wednesday, as the company confidentially filed regulatory paperwork for its stock market listing. The company, which has factories in New York, Idaho and Australia, has not yet determined the number of shares it plans to sell or the price range for its proposed offering. It rejected a bid for a majority stake from beverage giant PepsiCo Inc in 2016, arguing that it wanted to remain independent.
Earth Observation (EO) space startup Satellogic plans to go public through a special purpose acquisition company (SPAC) merger that values the company at $850 million. Satellogic announced July 6 that it will merge with CF Acquisition Corp. V, a SPAC sponsored by financial services firm Cantor Fitzgerald.