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.
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.
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.
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 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.
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.
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.
JV, Partnerships & Grants
Food Tech ingredient company Benson Hill has signed a supplier agreement with Schnuck Markets to roll out Veri™ brand cooking oil for use in prepared foods in the grocery chain’s more than 100 stores across the Midwest.
Equinom, the company on a mission to cultivate plant-based ingredients and independent seed company Peterson Farms Seed have announced a long-term collaboration to produce identity preserved seeds of Equinom yellow peas.
USDA awards over $70 million in grants, and increases access to local, healthy foods for kids.
News & Trends:
Diageo has announced plans to invest €200 million in a carbon-neutral brewery in Kildare, Ireland. The site will be powered using 100% renewable energy, reducing carbon emissions by up to 15,000 metric tons a year.
PepsiCo has closed on a $1.25 billion 10-year green bond that the company will use toward decarbonization of its operations, plastic waste reduction, regenerative agriculture, and pursuing net-positive water impact.
Wageningen University and Research scientists have delved into research on developing cheese from microorganisms, improving the taste of pulses and boosting the nutritional value of fermented foods to boost food security.
McDonald’s has ended the expanded test of its meatless McPlant burger in the U.S without a clear indication of whether the plant-based product will make a national debut.
France’s Council of State has agreed to put its ban on the use of words like ‘steak’, ‘bacon’, ‘sausage’ or ‘Carpaccio’ to describe plant-based foods en pause.