The Encounter Weekly: 3-10 December, 2021

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




IPOs, M&As & Investments:


Venture capital firm Lightbox Ventures announced on Tuesday that it has participated in the Series D funding round of fresh-produce distributor WayCool Foods and Products. The company is seeking up to $120 million one of the largest raise for an agritech startup to date.


The Every Company closed an oversubscribed $175 million Series C funding round, bringing the animal-free egg protein company's lifetime funding to $233 million.


Agritech startup AgroStar has raised USD 70 million (around Rs 527 crore) from Evolvence, Schroders Capital, Hero Enterprise and UK's development finance institution CDC to expand its business.


NadaMoo! announces it has secured almost $10 million in a Series B round. The Austin, Texas-based pioneer of dairy-free ice cream plans to continue the expansion of distribution, focusing on increased marketing and product development

Robotic vision and intelligence maker Photoneo has raised $21 million in a Series B funding round. The capital is aimed at accelerating the development of the company’s 3D sensor technologies and enabling the expansion of its newest business unit, Brightpick.

NadaMoo! closes $10 million Series B round. New funds will go towards continued expansion of the startup’s existing line of dairy-free ice creams as well as new product development.

Grupo Bimbo is the lead investor in a Series A funding found for LiveKuna, a manufacturer of natural products made from superfood ingredients including quinoa and chia. No details were given on the amount of the funding round or how much

Grupo Bimbo contributed.

Restaurant tech startup GrubTech bags $13 million. The Series A funds will be used to build out the company’s “all-in-one” operations software for restaurants and accelerate international expansion.

London-headquartered agtech firm Gardin has raised $10.8 million in a seed funding round. The funding will be used to further develop the entire product lineup, and continue to market the technology to greenhouses and vertical farms across Europe and North America.


Mighty bags an extra £4.5 million seed plus round, bringing the total funding for the startup to £8 million. Funds are being earmarked for international expansion, alongside bringing a new precision fermentation-based plant milk to market in early 2022.


Paleo raises €2M in seed round for meat and fish proteins created through precision fermentation, the investment will fund an R&D centre, pilot plant and experience centre.

Dispatch Goods announces $3.7 million in seed funding. The round was led by Congruent Ventures and included Bread and Butter Ventures, Precursor Ventures, Incite Ventures, MCJ and Berkeley SkyDeck.


Serve Robotics, the autonomous sidewalk delivery robot spinout of Postmates (which itself was acquired by Uber), has announced a $13 million expanded seed round of funding.


Amsterdam-based Cheflix, a streaming platform that provides masterclasses from Michelin chefs and experts has just raised €2 million in a fresh round of funding, coming from a Dutch Family Fund.


Pieter Pot, the fully circular e-grocer launched in 2019 in Rotterdam, has just received a €9 million investment boost led by ETF Partners.

Singapore-based Grab has completed its merger with Nasdaq-listed special purpose acquisition company (SPAC) Altimeter Growth Corp

McCain Foods invested $55 million in Irish frozen plant-based food company Strong Roots, with the global potato giant taking a minority stake in the business.

REEF Technology, an operator of ghost kitchens and proximity hubs, announced it has acquired 2ndKitchen, a provider of turnkey food service to hotels, offices, buildings, and other hospitality businesses.

CNH Industrial completes its $2.1 billion acquisition of US-based precision agtech company Raven Industries and the software platform NX9 for an undisclosed sum.

British soft drinks giant A.G. Barr has announced the acquisition of a 60% stake in oat specialist MOMA Foods. The move marks the first foray into the rapidly-growing plant-based milk sector.

 

News & Trends:


Bayer and grain-marketing startup Bushel have teamed up with Amazon‘s Web Services (AWS) to launch Project Carbonview – a data-based carbon measurement tool aimed at helping farmers to better assess and report the carbon footprint of their produce across the supply chain.


Gotham Greens opens a 10-acre research farm in partnership with University of California, Davis. The facility will be used to grow greens while reducing the resources needed to do so, such as water.