17 - 23 September, 2022
Weekly Roundup: Stay up to date with the most recent Agrifood Tech news, investments and partnerships
IPOs, M&As & Investments:
Gotham Greens, the New York-based producer of greenhouse-grown greens and products including dressings, dips, and sauces, has just raised $310 million in a Series E funding round to lead its U.S. expansion plans.
Plant-based nutritional formulas maker Kate Farms has closed $75M in Series C funding round. The capital will be used to fuel additional innovation in the brand’s portfolio, develop new products and enter new market channels.
Singapore-based insect protein producer Nutrition Technologies has closed a $20 million equity round. The company will use the the funds to expand into new markets, launch new products, accelerate R&D, and create new strategic partnerships.
InnerPlant raises $16 million in Series A funding from Deere & Co and prepares to launch its first soybean product, in 2024. In addition, the company will start launching satellites to speak to its sensors in 2023.
Deep Rooted, a farm-to-consumer (F2C) brand for fruits and vegetables, raised $12.5 million as a part of its Series A funding round led by IvyCap Ventures with participation from existing investors including Accel, Omnivore and Mayfield
Rival Foods announced the completion of its €6M Series A funding round. The funds will be invested in developing new formulations with next-generation protein sources, scaling up its technologies, and expanding its operational capabilities.
Pre-seed funding of $200,000 has been provided to Indonesian agritech company Agridesa by Multifield and Triputra Agro Persada, a division of the regional conglomerate Triputra Group.
News & Trends:
The European Cocoa Association (ECA) and the Association of Chocolate, Biscuit and Confectionery Industries of Europe (CAOBISCO) are on track to deliver access to cocoa marketing agencies’ farming data that the Associations’ Members have collected over the years.
Culinary Digital has established US-based foodtech SaaS company, part of the Fulcrum Group, has launched a cutting-edge foodtech platform for the Indian market to tackle critical issues like food waste and food security.
Sophie’s Bionutrients and NewFish, both leaders in microalgae protein fermentation, are partnering on an effort to explore further microalgae’s potential in the future of food, namely the booming dairy alternative market.
EU agriculture ministers are pushing the European Commission to relax rules on new genomic techniques (NGTs), arguing this is needed to bolster the sector in the face of increasing droughts, climate change and yield losses.
China dairy giant Yili has registered record growth and increased market share in its recently-released H1FY2022 financial report, and has attributed this success to the sales of its value-added dairy products as well as its efforts in rapid new product innovation
FAIRR Initiative and the Good Food Institute (GFI) have developed a reporting framework they believe will help companies demonstrate the positive impact their alternative protein businesses are having – and increase investment in the space.
Israel’s foodtech startup Meala has developed a proprietary platform that creates ‘functionally activated proteins’ designed to replace methylcellulose and gums widely used as binding and gelling agents.