The Encounter Weekly

5 - 10 June, 2022

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

IPOs, M&As & Investments:

Cloud kitchen startup Curefoods has raised $50 Mn in a Series C funding round from new and existing investors. The funds will be used to expand for geographical expansion and new acquisitions.

US-based alternative meat startup Artemys Foods has rebranded to SCiFi Foods, officially emerging from stealth mode, and has closed a $22 million Series A round led by leading global VC Andreessen Horowitz.

Agrotools, a Brazilian-based technology and intelligence company for agribusiness, raised $21 million (BRL 100 million) to value the company at around $94 million, according to the company.

Israel’s Brevel has closed a successful seed funding round, scooping $8.4 million during the raise. Participating investors included FoodHack, Good Startup VC, Tet Ventures and Nevateam Ventures, amongst others.

Cell based dairy startup Brown Foods, bags $2.36 million in seed funding. The capital will be used to continue in developing the bio-process and scaling and product development.

Spanish startup Cocuus has raised €2.5 million in its Pre Series A funding round to scale its 3D bioprinting technology for the production of alternative proteins.

Austrian foodtech startup Revo Foods has secured a €2.2 million grant from the Austrian Research Promotion Agency. The equity-free award was granted to help Revo continue its 3D printed seafood developments.

Bengaluru-based Alt Co. has confirmed a $1 million raise led by undisclosed major investors from Singapore, the Middle East and India.

Food upcycling startup, Wastelink raises $100K in Seed Funding. The capital raised will be used to expand across India and scale up their supplier platform capability.

Virgin Group’s UK-based digital financial services provider Virgin Money has launched a £200 million ($251 million) Agri E Fund, the first of its kind dedicated to supporting UK farmers with green loans.

Japan’s Norinchukin Bank invested in AgFunder’s $100m agrifood tech fund.

Foodtech community platform FoodHack has raised $1m to launch HackVentures, enabling angels to invest in climate focused solutions through its investment platform.

Restaurant tech ordering system platform Lunchbox has entered into a definitive agreement to acquire NovaDine, an enterprise digital ordering provider for multi-unit restaurant chains.

Ingredients company AAK Foodservice acquires ForA:Butter a plant-based butter made from aquafaba, a liquid leftover from cooking chickpeas.

Foster Farms has been acquired by Atlas Holdings, the private equity firm said in a statement. The purchase price was not publicly disclosed.

Cox Enterprises makes undisclosed “strategic” investment in CEA company Mucci Farms. The partnership means greater variety of CEA-grown produce and a significant expansion to Cox’s existing business.

The U.S. Department of Agriculture (USDA)announces significant investments to support urban agriculture, including $43.1 million for grants and cooperative agreements as well as six new urban county committees to help deliver key USDA programs to urban producers.


News & Trends:

Alternative meat firm More Meat has cited rising local food ingredient prices and the prevention of food waste as major drivers behind the creation of its ready-to-cook (RTC) range, a format that is still at the early stages of growth within Thailand’s plant-based sector.

Tel Aviv-based food-tech startup SuperMeat, received a grant from the Israel Innovation Authority to establish an open high-throughput screening system that will optimize feed ingredients (cell media), supplements, and cell scaffolds for cultivated meat, which will in turn aid the entire industry achieve commercial viability.