18 February, 2022
Stay up to date with the most recent news, investments and partnerships regarding the Agrifood tech industry and sustainability.
IPOs, M&As & Investments:
Functional soda brand Olipop's $30m Series B funding round led by a long roster of celebrities, beverage industry veterans, and entrepreneurs, will help make the brand mainstream, according to co-founder David Lester.
Cannabis-infused beverage company Cann has announced a $27 million Series A funding round and its expansion into Canada. A roster of celebrity investors participated.
Retail analytics SaaS platform Kepler Analytics has raised $22m (USD$15.5m) Series B funding round. The company plans to use the fresh capital for key hires, roll out new product features and fuel global expansion.
Animal-free dairy cheese company Change Foods extended its Seed Round with an additional $12 million, bringing the round's total investment to $15.3 million, the most for any precision fermentation company at this point.
US-based plant-based powerhouse and functional nutrition brand KOS announces it has secured $12 million in Series A round to secure the company’s position as a key player in the plant-based nutrition space and diversify its plant-based footprint.
Advanced recycling startup Novoloop has announced it raised $11 million in Series A financing. The funding will go toward expanding the company’s plastics chemical recycling proces and bringing its production process to scale.
Solar Foods has received a €10 million investment boost from the Pharmacy Pension Fund of Finland. The investment will go in the Solar Foods’ Factory 01 facility which will house the first commercial Solein production line.
NourishedRx raises $6 million in seed funding to accelerate growth of the first intelligent food-for-health platform.The capital will enable expansion,, increase resources for patients and health plan members, deepen partnerships and key hires.
Seawith – a cultivated steak pioneer from South Korea – has announced the completion of a ₩6.5 billion ($5.43 million) Series A investment, as the startup looks to lead the cultivated meat movement in the country.
The São Paulo, Brazil-based company Nude raised R$25 million (about US$4.8 million) in a Series A led by Vox Capital.
ProfilePrint, a Singapore-based AI-powered food fingerprint platform, has announced the closing of an undisclosed Series A funding round.
AI-powered FoodDocs has raised £1.8 million (US$2.4 million) to solve food safety compliance issues in a fraction of the time. The technology is poised to help food businesses become compliant 500 times faster than traditional methods.
Canada’s female-led plant-based comfort food company Boosh Plant-Based Brands Inc. has announced that it executed an asset purchase agreement to acquire all the assets of the fast-growing American vegan snack company Beanfields Inc.
Kerry Group acquired two companies to increase its biotechnology capabilities. C-LEcta at a cost of 137 million euros and enzyme manufacturer Enmex, costing 62 million euros.
News & Trends:
Fiction Foods, a portfolio company of CULT Food Science, has announced significant developments in its novel cellular agriculture product pipeline, with the commercial launch slated for the third quarter of 2022.
A confluence of skyrocketing investments, consumer demand for healthier and more regenerative products and unprecedented entrepreneurship is supercharging a food sector alive with new options and possibilities
Satellite technology creates virtual grazing areas in Epping forest, Satnav keeps cows safe without the need for fences and lets woodland thrive
Bioactive foods, also sometimes called functional foods, generate significant interest these days for their ability to improve health outcomes and prevent chronic disease.
Consumers are very enthusiastic and curious about animal-free dairy, with animal welfare being the reason they most want to consume it, according to a series of focus groups done by precision fermentation startup Formo, Fordham University and Mercy For Animals
As part of humanity’s collective efforts to ensure food security and biodiversity amid climate change and other environmental disasters, more than 20,000 new seed samples from 10 global genebanks have been deposited in the Svalbard Global Seed Vault.
Kellogg is spending $2 million on a program called InGrained that will help farmers in the Lower Mississippi River Basin reduce their methane emissions.
Givaudan and US-based company Fiberstar have entered a new deal allowing Givaudan to commercialize and use Fiberstar’s natural, plant-based texturizing ingredient Citri-Fi, upcycled from citrus fiber.
Researchers have claimed to find a way to brew non-alcoholic beer that tastes just like regular beer. In addition, the method is far more sustainable than the existing brewing techniques, hailed as “a game-changer for non-alcoholic beer.”
Benson Hill – a US-based food-tech company unlocking the natural genetic diversity of plants – is launching TruVail, a new line of non-GMO plant-based protein ingredients with sustainability benefits, such as water usage reduction
Unilever’s CEO has shrugged off speculation that the group could still dispose of its nutrition or ice cream businesses after its failed move for the GSK Consumer Health business, which would have been funded by a likely IPO of Unilever’s food interests.
Nestlé has launched an initiative that promises to help bridge the living income gap for cocoa farmers in its supply chain. With a focus on productivity, resilience, diversification and access to education the company is more than tripling its current annual investment in cocoa sustainability efforts.
Gaia’s Farming Co. – the hemp-focused biotech – has launched its Hemp & Coco Chocolate M*lk into Neat Burger restaurants across the UK.
Food and beverages targeting microbiome health and personalised solutions offer significant potential for innovation. However technical, commercial and regulatory challenges remain as product formulators navigate the hype.
House crickets and yellow mealworms have been approved as high protein food ingredients across a broad range of European F&B platforms.
Swiss food giant Nestlé is shaking up the beverage market in Thailand with a new soy-based version of chocolate malt beverage firm favorite, Milo.