19 - 24 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:
India’s tech-enabled chai cafe chain Chaayos has raised US$53 million in a series C round led by Alpha Wave Ventures. The fresh funds will be used for store expansion, hiring, and technology enhancement.
Plant-based seafood startup Current Foods has closed a $18 million seed round to expand into B2B and retail. The round was led by Silicon Valley’s alt-meat early movers and cultural tastemakers, spanning sports and music.
BioLumic announced the closing of a $13.5-million Series B funding round that will be used to accelerate commercial growth for its cutting-edge agricultural technology that harnesses the power of ultraviolet light to improve plant productivity.
Vision Greens has raised $7 million in private financing that will expand its operations and scale distribution to leading grocers and meal kit companies that currently include Metro, Pusateri’s, and Goodfood.
Canadian ingredients startup Chinova Bioworks has closed a $6 million Series A funding round. The investment will support team expansion, new product development and extension of existing production facilities.
Canadian plant-based cheesemaker Nuts For Cheese has netted $5.35 million in a fresh funding. The investment has been earmarked for expanding the company’s vegan cheese manufacturing capabilities, plus its distribution network.
Hong Kong-based ombnichannel food app KIN has just closed a $3.7 million pre-Series A funding round to connect consumers to their food choices while eliminating waste and the negative environmental consequences of food delivery.
News & Trends:
Booths has launched a startup accelerator to help grow food and drink businesses offering the winning company a tailored 12-month programme and funding to help them scale.
A new report by consultancy firm Bain & Company and capital fund ZINTINUS says the world’s food market towards a more sustainable model is now at a tipping point.
DoorDash announced that it will launch a dark store-powered rapid delivery service in partnership with Canadian grocer Loblaw.
A grant of €9 million has been awarded to operators upscaling ocean seaweed production and their market applications across Europe.
The Japanese government is pulling together a team of experts to analyse the safety of cultivated meat as a precursor to implementing a regulatory framework for future commercial product approvals.
US policymakers announced new legislation that would place an indefinite moratorium on acquisitions and mergers within agriculture and food industries.
Organic food producer Narayan Foods is addressing the growing gap in demand for plant-based proteins and sustainable, healthy food choices by providing a scaling platform to bring new food tech solutions to the market faster.