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:
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London-based automated B2B supply chain platform Opply has raised $4 million in funding to disrupt the outdated supply chain experience for food and drink SMEs through AI.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.
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”.
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.
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 have announced a commercial agreement with Batory Foods to distribute Incredo Sugar, the only reduced-sugar product on the market made from real cane sugar.
A report by the Social Market Foundation has called on the UK government to update its alt-protein policy, with the aim of improving consumer choice and accelerating the transition to a more sustainable food system.
Organic food sales rose about 2% in 2021 to reach $57.5 billion, according to the Organic Trade Association’s annual industry survey. This compares to a 12.8% growth rate in 2020, and a 4.6% increase in 2019.
Rabobank reports that companies are taking steps to meet their emissions reduction goals but warms whether the market will be able to support a further lift in beef prices to offer a ‘premium payment’ for net-zero-carbon beef.