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The Encounter Weekly

26 June - 1 July, 2022

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

IPOs, M&As & Investments:

Pure Harvest Smart Farms, a UAE-controlled environment ag (CEA) company, has raised $180.5 million in its latest funding round led by the Olayan Group. The funding will go into expansion in the Middle East as well S.E Asia.

Foodtech startup Atomo has closed a $40 million Series A round and launched the first of its “beanless” molecular coffee products to consumers. Atomo will use the funds to scale, develop and launch new products.

Eclipse Foods scoops up more than $40M to invest in plant-based dairy and will use the funds to expand distribution, work on marketing and messaging, and invest in R&D.

Food ordering platform Sharebite closed a $39 million Series B financing round to expand its footprint and launch products that serve the evolving needs of modern workplaces.

AlgiKnit, a US startup developing sustainable textiles from seaweed, has raised $13 million in Series A funding and opened its new manufacturing facility.

Shelf-life extender startup Chinova Bioworks raised $6 million in Series A funding. The capital will go towards HR, enhancing production capacity, and the launch of new products.

Alt-packaging UK-based startup Magical Mushroom Company has scored over €3.4 million in fresh funding. The capital will fund the opening of a production plant and scale production. ​

UK-based vegan investment fund Veg Capital has invested BRL 1 million in plant-based Brazilian brand Conví Foods. The investment took place through Vegan Business, Brazil’s only dedicated plant-based equity crowdfunding platform.

MeatTech, Producer of 3D Printed Cultured Meat, announces $6.5M Registered Direct Offering.

US agribusiness major FMC has agreed to acquire BioPhero, a Danish startup producing pheromone-based biocontrols for the crop-growing industry for about $200m.


News & Trends:

Online delivery platform DoorDash announces Pinky Cole, CEO of vegan burger phenomenon Slutty Vegan, today begins a year-long role as the company’s Chief Restaurant Advisor.

Givaudan has partnered with Israeli food-tech startup Sweet Victory to help it develop a chewing gum for children designed to stop sugar cravings.

McCain Foods has snapped up a suite of crop-monitoring analysis tools from ag data business Resson.

Precision fermentation startup Paleo announced that its technology will bring the authentic taste and aroma of meat and fish to plant-based meat and fish alternatives with a non-GMO, animal-free heme.

Pascual, a Spanish manufacturer of dairy products and beverages, has launched Mylkcubator 2.0, the second edition of its global incubation program for cellular agriculture technologies in the dairy industry.

Greenbiz’s 3 missing ingredients to scaling regenerative agriculture.

SVG Ventures|THRIVE and ICL Planet Start-up Hub launched the Global Impact Challenge to scout for the most innovative and impact-driven companies driving toward a net-zero future for agriculture.

Israel’s largest food manufacturer Tnuva has branched out into non-dairy alternatives and is set to establish an R&D center dedicated to alternative protein through an investment of NIS 5 million ($1.47 million.)

Shell is aiming to switch to 100% renewable fuel made by food waste.

Scientists from the Technical University of Denmark are collaborating with Diego Prado, head of research at Copenhagen’s two Michelin-starred restaurant Alchemist, to develop sustainable alt seafood through fermentation.

Instacart announced on Thursday it has expanded its partnership with Walmart Canada to include a virtual convenience store pilot in Toronto.

Chennai-based start-up Greenpod Labs has invented bioactive sachets that claim to reduce the spoilage of fresh fruits and vegetables.

​​A team of biotechnology and blockchain specialists in Greece are using olive oil DNA to generate a fraud-proof genetic barcode for each bottle. With funding from European research and innovation project S3FOOD, the move is expected to minimize food fraud across extra virgin olive oil.


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