The Encounter Weekly: 10-17 December, 2021


Stay up to date with the most recent news, investments, and partnerships regarding the agrifood tech industry and sustainability.


IPOs, M&As & Investments:


Comet Bio has invested an undisclosed sum in a food manufacturing facility in Denmark with RE Energy, a firm specializing in environmental sustainability.

Dutch vertical farming company Infarm's new $200 million funding round led to $B valuation making Infarm it the first vertical farming start-up in Europe to pass the $1 billion “unicorn” milestone.

The Urgent Company is acquiring premium ice cream maker Coolhaus from Sunshine Strategic Partners for an undisclosed sum. This is the first acquisition for The Urgent Company, a standalone CPG business started by animal-free dairy company Perfect Day.

Hain Celestial plans to acquire That's How We Roll, the producer and marketer of ParmCrisps and Thinsters, for about $259 million from private equity firm Clearlake Capital Group, the company said in a statement

Wallmart-backed Symbotic announced it plans to go public through a merger with SoftBank Investment Advisers’ SVF Investment Corp. 3. If the deals goes through, Wallmart will own 9% of the robotics/AI firm.

McCain, the frozen food giant, invested US$55 million to take a minority stake in Irish plant-based frozen foods startup Strong Roots.

German climate-neutral company GREENFORCE has raised €15 million in an equity round to accelerate growth, international expansion and the continued expansion of its research and development centre in Munich.

Boston-based catering marketplace ezCater raised $100 million in series D-2 funding round led by SoftBank's Vision Fund 2, topping $425 million in total funding.


Israeli company Future Meat Technologies is in the process of raising $320 million in a funding round that will bring the company’s total worth to $600 million. Some of the funding will be used to build a cultivated meat facility in the US.

CULT Food Science Corp., a Canadian investment platform, announces it has completed a strategic investment into Singapore cultivated seafood startup Umami Meats.

ansā, a foodtech startup that develops on-demand zero-pollution roasting, has secured $6 million in a seed funding round led by Millennium Food-Tech R&D Partnership, the company announced Monday.

Shopping without going to the supermarket and a 15-minute delivery is the core business of Shopper, a Brazilian food tech that has just announced a US$30 million Series C investment round.

AI-based recipe analytic solution for the food industry, Verdify, announced that it has raised €1.3M in a fresh round of funding from Brightlands Venture Partners, private investment firm Joles BV, and the company’s founders.

Calo, a Bahrain-based direct-to-consumer (D2C) foodtech company offering personalized meal subscription, has successfully raised US$13.5 million in a seed funding round co-led by Khwarizmi Ventures, Nuwa Capital, and STV

Flipkart and its parent Walmart Inc. are together investing $145 million in agritech platform Ninjacart to strengthen their grocery supply chains amid mounting competition from JioMart, Amazon India, Tata-owned BigBasket, among other peers.


Amsterdam-based restaurant delivery company Just Eat entered U.K. grocery delivery by launching a new partnership with grocer Asda.


Provectus Algae, an Australian startup producing a portfolio of algae-based ingredients for alternative protein and bioplastics, closed a pre-Series A round led by Hitachi Ventures and Vectr Ventures worth $11.4 Million.

HungryPanda landed $130 Million in new funding round led by investment firm Perwyn. The startup will use it to expand its business delivering meals and groceries.

 

News & Trends:


ReFED and Upcycled Food Association launched the first-ever Food Waste Funder Circle. A dedicated network to support private, public, and philanthropic funders who want to use their capital to scale a full range of solutions to food waste.

While enough food is produced to feed everyone 1.5 times over, poor diets continue to hold the world back from reaching its full potential. The Covid-19 pandemic has set back the fight yet further.

Vast networks of microscopic, underground fungi serve a crucial role in Earth’s ecosystems — and there’s a lot we don’t know about them.

Cell-based seafood maker Wildtype signed distribution agreements with grocery store sushi bar operator Snowfox and fast casual restaurant operator Pokéworks.

Scientists have developed a new combination of plant-based ingredients – using cocoa butter – tailored for 3D printing meat alternatives.

Finnish dairy cooperative Valio and the VTT Technical Research Centre of Finland are combining to launch a project to research what kinds of food industry raw materials could be produced using cellular agriculture.

Heather Mills’ VBites plant in Peterlee, UK is set to create over 320 new jobs in the area following a multimillion-pound partnership with food giant Pfeifer & Langen.


Clif Bar & Co. announced the launching of the Trailblazers Incubator, an in-house new venture group overseen by Chief Innovation Officer, Rizal Hamdalla.e German food conglomerate has entered into a strategic partnership with the plant-based producer, purchasing 25.1%