The Encounter Weekly

12 - 17 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:

Little Leaf Farms has raised $300 million in new capital, with equity financing. The funds will support aggressive growth and expansion of farms and distribution.

US startup Moleaer has closed a $40 million Series C round for its nanobubble water systems technology. Apollo led the round, joined by Husqvarna Group as well as existing investors.

French plant-based startup HappyVore announced a raise of €35 million. In addition, the company also announced the opening of its own production plant located in Chevilly, near Orléans.

Brazilian ag marketplace Clicampo has closed a $7.5 million seed round for its digital platform that connects the country’s farmers and food producers directly with retailers and restaurants.

Dairy-free innovator Miyoko’s Creamery has raised an additional $7M in equity funding. The announcement is based on May 24 company filings with the Securities and Exchange Commission (SEC).

Lithuanian vertical farming company Leafood has secured $6.75 million (€6.45 million) in seed funding. This will help finance a partnership with the YesHealth Group to scale indoor vertical farms in Lithuania and the greater Baltic region.

Singapore-based robotics startup Ross Digital has raised S$4.2 million (around US$3 million) in a series A round. The company will use its funds for product improvement and expansion and distribution in Southeast Asia.

London-based automated B2B supply chain platform Opply has raised $4 million in funding to disrupt the outdated supply chain experience for food and drink SMEs through AI. The startup will use the new cash to expand its engineering and commercial teams that will deliver the global go-to-market strategy.

UK oat-milk business Minor Figures has received a minority investment from Danone and plant-based food business Green Monday Group.

U.K.-based food ingredients company Moolec Science has merged with special purpose acquisition company (SPAC) LightJump. Once the merger is complete, the new company is anticipated to be listed on Nasdaq under the ticker “MLEC”.

Komo Plant-Based Foods , a Canadian foods producer, announces a private placement offering of up to 1,000 company units at a price of CAD $1,000 each, for gross proceeds up to $1,000,000.


News & Trends:

Sweden-based Intimina has introduced Period Crunch, a raspberry-flavoured breakfast cereal with pieces that are in the shape of a uterus. The cereal turns the milk red when they are combined in a bowl.

Summer 2022 marks the start of Live Nation partnering with Everything Legendary to offer plant-based burgers to concertgoers.

The Live Green Group and FoodForms Solutions, a startup developed by Mexican food giant Sigma, are partnering to replace chemical food additives with natural and plant-based alternatives.

Thai firm Sesamilk is planning a major portfolio expansion for its dairy alternative products, whilst also calling for the government to provide more taxation and financial support for SMEs to accelerate growth.

The Ministry for the Environment of New Zealand is unveiling a plan for the country to become the first country in the world to tax farmers for their livestock methane emissions.

The global food import bill is projected to rise by US$51 billion from 2021, of which US$49 billion reflects higher prices, according to a new report released by the Food and Agriculture Organization of the United Nations (FAO).

Cultivated meat firm GOOD Meat aims to multiply its output by building second plants in both Singapore and the US as it strives to take lab-grown protein mainstream.

Swedish alternative dairy startup Stockeld Dreamery has realised a company ambition of developing vegan cream cheese. The company states that it has been actively engaged in the development for two and a half years.

IDTechEx has recently released “Vertical Farming 2022-2032”, a market research report exploring the technology and market factors of the vertical farming industry, which has attracted much attention from investors over recent years.

DouxMatok and Batory Foods