The Encounter Weekly

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.


French insect protein startup InnovaFeed has raised $250 million Series D round of financing from the Qatar Investment Authority. The new funds will be used to expand to the US.

Swiftly Systems entered unicorn territory after announcing today that it grabbed another round of $100 million, this time in a Series C. The new funding was led by BRV Capital Management.


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.

Next Level Burger, billed as “America’s first 100% plant-based burger joint,” has raised $20 million to support national expansion.

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

Manila cloud kitchen startup CloudEats just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia.

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.

Profuse Technology announced the completion of a $2.5 million seed funding round led by New York-based investment firm Green Circle and existing shareholders – OurCrowd, Tnuva, and Tempo.


Berlin-based start-up Blue Farm, producer of award-winning powered oat drinks, announces it has closed a round of funding to the tune of around €3 million.


TissenBioFarm, a South Korean food tech startup developing cultured meat, announced that it had attracted 2.2 billion KRW (approx. 1.6million USD) in its pre-series A funding round.


Germany-based startup, Orbio Earth, is on task to accelerate the low-carbon transition with actionable methane intelligence and it’s just raised €600k to do so.


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:

Arva Intelligence has announced its participation in three proposals selected for award by the USDA’s new initiative to fund sustainability and climate solutions in agriculture.

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.

Emerging from stealth mode, the celebrity-backed Prolific Machines is about to bring down the price of cultivated meat significantly.

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.

Instacart announced a new bundle of technologies aimed at helping retailers digitally power their storefronts

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

UK alt meat brand THIS has launched its first plant-based beef alternatives — This Isn’t Beef Burgers and This Isn’t Mince.

Nestle announced that it is teaming up with food tech company Perfect Day to release a product featuring the sustainable whey protein made by precision fermentation.

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.