30 July - 5 August, 2022
Stay up to date with the most recent news, investments and partnerships regarding the agrifood tech industry and sustainability.
IPOs, M&As & Investments:
Japanese vertical farming start-up Spread has raised approx $30 million in a Series A funding round. The funding will be used to develop technologies for the company’s new automated vertical farm – Techno Farm Fukuroi.
Food tech startup Clean Food Group has raised £1.65m to develop a yeast-based lab solution to replace palm oil, a substance widely used in food manufacturing and the beauty industry but is a major driver of deforestation.
Indonesia’s foodtech startup Greens announced that it has secured an undisclosed amount of pre-seed funding in a round led by East Ventures. The capital will be used to build an ecosystem for food decentralization in two phases.
Aquaculture tech company Eruvaka Technologies has achieved an exit for its founders, team and primary investor Omnivore after existing investor Nutreco acquired a 93.7% stake in the company this week. The deal indicated was worth between $40 million and $50 million — is the largest recorded in Indian agritech.
Bayer AG is acquiring a majority stake in St. Louis-based agriculture startup CoverCress Inc., a move that comes as CoverCress this year plans for a full commercial launch of its newly created cash crop.
Funds & Accelerators:
Food industry entrepreneurs Henry McGovern and Steven Winegar, have raised 500 million euros ($512 million) to invest in restaurants from Abu Dhabi.
JV, Partnerships & Grants:
Plant-based fast casual concept noomo has partnered with global foodservice manufacturer Nestlé Professional to develop a proprietary line of plant-based products to streamline operations further as the vegan burger franchise expands nationwide.
News & Trends:
Shanghai-based alternative protein startup 70/30 Food Tech is set to launch its ready meal products, using its in-house biomass fermented protein. The company will be the first to launch a mycelium protein product onto the Chinese market
A new insect-based diet on chicken farms is being showcased by UK supermarket chain Morrisons as the way to achieve carbon-neutral eggs by the end of 2022.
Israeli companies are leading the world in alt-protein investments and come second only to the US in funds invested in the industry as a whole, according to this week’s Good Food Institute (GFI) Israel report.