20-25 March, 2022
Stay up to date with the most recent news, investments and partnerships regarding the agrifood tech industry and sustainability.
IPOs, M&As & Investments:
Sayurbox announced that it had raised $120 million in a Series C funding round led by Northstar and Alpha JWC Ventures. The new capital will be used for market expansion and to develop its supply chain across Indonesia.
Africa’s Agtech startup ThriveAgric has raised $56.4million in debt funding. The new investment will enable the company to grow its 200,000+ farmer base and expand into new African markets, including Ghana, Zambia and Kenya.
Backed by local commercial banks and institutional investors, ThriveAgric raises $56.4million to accelerate pan-Africa expansion plans
E-commerce startup KoRo has announced a €50 million investment round. The fresh funding will be used to expand the product portfolio, to develop new marketing channels and to further expand the team and the business internationally.
Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, has raised $40 million in Series B funding. The company plans to expand its farmer base and to introduce more products.
Food Tech company Resugar announces $3 Million in Series A funding investment will fuel global expansion for manufacturer of first truly no-compromise sugar substitute.
Nonprofit consortium Protein Industries Canada (PIC) announces a $4.1 million investment to develop novel, nutritionally superior oat ingredients and products, including Canada’s first oat-based protein.
Molecular alt-dairy farming company Miruku has secured $2.4 million in seed funding. This will enable the company to begin to “seriously scale” and build on milestones for the next round, which he believes will take place in 2023.
London-based Vevolution has bagged $330,000 in a seed raise. Funding has been earmarked for tech improvements, portfolio expansion and continued support of the plant-based and cellular agriculture industries.
The Live Green Co is merging with 5 Chilean food startups to accelerate the world’s transition to a healthier plant-based food system. The five merging brands – Terrrium, Aztlan, Gibit, EcoKetrawe and Regional Food – will operate independently while mutually benefiting from each others’ strengths.
News & Trends
The Kroger Co. is entering into a strategic collaboration with computing company NVIDIA. The partnership will allow the grocer to utilize NVIDIA’s artificial intelligence (AI)-powered applications and services to fundamentally change the way consumers shop.
Global beverage and convenient foods company PepsiCo and N-Drip have announced a partnership to help farmers around the world adopt drip irrigation technology across 10,000 hectares (25,000 acres) by 2025.
Despite the economic hardships of the global pandemic, supply chain issues, and inflation, new data has revealed the growth of the US plant-based industry grew 6.2% in 2021. This brings the total plant-based market value to a record high of $7.4 billion.
Cultivated seafood start-up Wanda Fish Technologies has signed two agreements with Tufts University, US, to advance its path to fully developed cultivated fish on par with their finned counterparts.
The EVERY Co has used the iconic macaron to celebrate the launch of an animal-free egg white with the functionality of egg whites called EVERY EggWhite. The company partnered with Chantal Guillon, designer of the “French macaron of the West Coast.”
AgFunder, one of the world’s most active investors in foodtech and agtech startups, has increased its assets under management to $160 million – 10x in two years – with the first close of its fourth fund.
Venture capital investors pumped $51.7 billion into agrifoodtech startups worldwide in 2021, according to the latest edition of the annual AgFunder Agrifoodtech Investment Report.
Instacart announced the launch of Instacart Platform™, a suite of tools for grocery retailers to deliver omnichannel experiences for shoppers.
108Labs has unveiled its M2 smart bioreactor milk production platform, bringing the US-based company closer to cell-cultured breast milk and bovine dairy ingredients
Unilever and SAP pilot blockchain to source more than 188,000 tons of oil palm fruit. The solution helps Unilever track, verify and report in near real-time the origins and journey that palm oil takes through its long and complex supply chain
Sound Agriculture, a US startup helping farmers reduce their nitrogen use and boost crop yields, is joining forces with UK-based petroleum giant Shell to measure the economic and environmental impacts of reducing ag-related nitrous oxide (N2O) emissions.
Bidra innovation ventures launches a $50 million agtech fund focused on identifying, nurturing and empowering bold, innovative solutions in agriculture around the globe
Colorado startup Meati launches sales of their new line of mycelium-based chicken cutlet and crispy cutlet direct to consumers via their website and has plans to start selling a steak filet later in the spring.
Shiru - a startup producing proteins via microbial fermentation - has teamed up with texturizing ingredients specialist CP Kelco to explore label-friendly replacements for methylcellulose and other highly functional ingredients.