The Encounter Weekly

19-25 November , 2022

Weekly Roundup: Stay up to date with the most recent Agrifood Tech news, investments and partnerships


IPOs, M&As & Investments:


Craft beer maker Bira 91 lands $70 million round led by beer company Kirin. Bira will use the funding to build more breweries and expand geographical reach of the Bira line of beverages


Modern Milkman, a grocery delivery startup that uses data analytics to map out milk rounds, has now raised a total of £50m after closing a Series C funding round to fuel global expansion.


Israeli startup Torr FoodTech has raised $12m in a series A round as it expands partnerships with CPG firms and gears up to launch its own snack bar line with its new approach to ‘weld’ natural ingredients together


US-based cultivated salmon producer Wildtype bags $7 million from SK Inc., the investment arm of SK Group, South Korea’s third-largest conglomerate.


Italian-based startup Babaco Market has raised €6.3 million in Series A funding, bringing its funding total to €8.1 million to further strengthen its position in Italy and expand internationally.


Supply chain platform Prado has raised $5.75 million in seed funding. The investment will be used to grow the team and scale its platform to support more merchant partners in more markets.


Alt-dairy startup Julienne Bruno raised a £5m seed round led by Cherry Ventures. The round aims to continue overall growth as well as expansion plans that include partnerships with UK nationwide retailers such as Selfridges London, Holland & Barrett, and Whole Foods Market.

British-based agtech start-up BigSis closed an over-subscribed Series A round at £4.5 million led by Regenerate Ventures. Monies will be used to scale up the pilot plant.


Manchester-based molecular farming startup Bright Biotech has secured $3.2 million in funding in an oversubscribed funding round. With the investment, the company will foster its R&D, expand its team and scale its manufacturing operations.


Opo Bio, New Zealand’s first cultivated meat company, emerges from stealth mode to announce a $1.5M Seed Round and launch their first research product.


UK tempeh-based alt meat brand Better Nature recently announced a £700K Seed Plus round to fuel retail presence in the UK and Europe ahead of a bigger series A round next year.


FoodChain ID has acquired Lexagri Internationalexpanding FoodChain ID’s scope of regulatory and compliance content into crop protection and brand registration data.


 

Funds, Grants & Partnerships:

The USDA announced an investment of $59.4 million to support nutrition. This investment delivers on a commitment made in the National Strategy on Hunger, Nutrition, and Health to improve access to healthy and affordable food.

The Board of Directors of the African Development Fund has approved a $27.9 million grant that will be used in Ghana to develop agricultural chains in the Savannah region.

At protein company, Meatable partners with Singaporean company Love Handle to create the first “hybrid meat innovation center” in the world.


 

News & Trends:


Chilean pioneer NotCo has unveiled the first pizza topped with its NotChicken innovation at all Papa John’s locations throughout Chile.

Regenerative SmartFarm technology Agbotic has announced its ground breaking in Ashford, CT, where it will build the newest version of its highly automated, machine learning, organic farm technology.

Berlin-based vertical farming startup, Infarm, says its indoor wheat trial has implications for growing at scale.

Citrosuco launched Evera, a new business unit that will produce natural ingredients through the means of reuse technology of waste of the orange such as husks, peels, leaves, flowers, and seeds.

Melibio’s honey will see its retail launch in European stores next year; Narayan’s products are available in more than 75,000 stores across Europe. The product launch marks the first time vegan honey of its kind will enter the European market.

Finnish tech company