The Encounter Weekly

24 - 29 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:

Enko, the crop health company, announced $70 million in Series C funding, bringing the company's overall capital to $140 million to date. Global agrochemical company Nufarm led the round as part of an expanded partnership to bring innovative products to their core markets.


Kitchen United raises $100 million in a Series C funding round led by Kroger, Circle K & others. Thanks to the investment, the ghost kitchen operator will expand from 15 locations to more than 500 over the next five years.


Swedish carbon accounting engine Normative has raised an all-equity €31 million Series B round. The new funding will help expand supply chain measurement services.


Agtech's Arable, announced it has raised $40 million in series C financing. The company will use the new funding to advance climate resilience in agriculture by accelerating product development, delivering new services for customers and expanding its global footprint.


London-based Altruistiq has just raised about €17.6 million. The team aims to change the standard carbon reporting model into a carbon abatement model, effecting more beneficial climate action.


French biotech startup Core Biogenesis recently completed a $10.5M Series A funding round. The funds will be used to build out an industrial-scale facility dedicated to expanding production and HR.


Hawaii’s Holey Grail Donuts nabs $9 million to expand its stores in LA.


Verility Inc has closed Series A funding worth $3.5 million. The capital will be used for production and commercialization.


German FoodTech startup Root Global raised €2.5 million to help companies along the food value chain make business decisions that lead to sustainable carbon reduction and climate-friendlier consumer products.

Plant-based chain Clean Kitchen Club’s latest funding round has been topped to £2 million thanks to some of the UK’s leading entrepreneurs.

Agtech startup Soiltech Wireless has completed its seed funding round of $2.5 million to accelerate growth

Plant-based food producer Bandit, formerly known as Conscious Cultures Creamery, has raised $1.5 million in a seed funding round. The capital will be used to continue scaling up its production processes and growing its consumer base.

​​Agritech startup CropBiome has just picked up a yield of €1.3 million. Monies will be used for key hires needed for expansion.

Smart Apply raised $1.3 million seed round of funding. The capital will support growth that’s even outpacing the startup’s projections.

Growcoms has raised $1.1 million in pre-Series A funding round, led by Info Edge. The company intends to use the funding to scale up the tech platform and enhance the market reach.


Nutrition and food supplements platform GetSupp has raised Rs 9.5 crore/ $1.1 million in funding led by General Catalyst and Better Capital.


Ginkgo Bioworks has agreed to acquire Zymergen for $300 million. Both companies have worked on developing products for the food and agriculture industries but more recently moved into healthcare.

UAE-based foodtech startup ChatFood raised $3 million in a bridge round. Aside from Saudi expansion, the company will use this funding to boost product development to support more businesses.

UK ice cream brand Northern Bloc has secured a £1.2m follow-on investment to support its expansion.

Copenhagen-based Agreena has announced its acquisition of UK-based Hummingbird Technologies. It’s a move that reflects the influence that tech startups are having in fueling the green transition and sustainability across Europe.

US alt-dairy startup Perfect Day looks set to acquire India’s gelatin manufacturer Sterling Biotech which entered liquidation in 2019 after placing the winning bid at an auction.



 

Funds & Accelerators

Agrifood tech early-stage investment fund Radicle Growth has announced the launch of The Radicle Farm, a global farm-access platform to accelerate the development of early-stage companies developing new on-farm technologies

The Good Food Accelerator Program led by DayDayCook and Brinc will invest $10 million in 45 food tech companies working to address global food sustainability, specifically bringing game-changing tech to Asia’s food systems.