The Encounter Weekly: Oct 1- Oct 8, 2021

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

IPOs, M&As & Investments:

Korean AgriTech startup N.Thing, has raised $21 million in series B fundraising that is up from $5 million in previous series that is secured $26 million in total. This has been run as an additional round of series B funding, led by InterVest and Kiwoom Investment.

Rural insurtech startup GramCover on Monday said it has raised $7 million as part of its Series A fundraise co-led by Siana Capital and Inflexor Ventures.

Galventa, the St. Gallen-based life science startup behind the first nutraceutical supplement to control the wake-up process, has secured a €696K seed investment led by the Turkish pharma firm Gen Ilac.

Kingdom Supercultures, a bio-design company that specializes in developing natural microbial cultures – which it calls "Supercultures" – today announced a $25 million Series A funding round led by Shine Capital.

European Food Tech VC firm Five Seasons Ventures has announced the final closing of a €180 million second fund. Having already backed promising European plant-based businesses, the Five Seasons new Fund II will focus on fast-growing consumer-focused food startups with a quantifiable environmental or social impact.

A market report by Global Market Insights has projected a 17% CAGR for the alt-protein market between 2021 and 2027. By the end of this growth period, it is predicted that the market will be worth $155 billion.

Elemental has raised £1.37 million, using the investment portfolio platform, Crowdcube. This is the second successful fundraising campaign for Elemental, following an initial £1.5 million raised in 2019, which the business used to develop the technology and start the build of a fertiliser demonstration plant at its headquarters in Devon.

Online meat and seafood selling brand Licious has now become India’s first poultry-based startup to enter the much-coveted unicorn club. The farm to folk business model based startup, founded by Abhay Hanjura and Vivek Gupta about six years ago in Bengaluru, has now entered the unicorn club after receiving funding of around Rs. 388 crore ($52 million) in a round led by IIFL Asset Management Ltd.'s private equity fund.

A newly launched company called Do Good Foods announced today it has raised $169M. The startup has developed a closed-loop system to convert produce and meats that cannot be sold in grocery stores or used by food banks into nutrient-dense animal feed.

News & Trends:

Solar energy has become a new cash crop for farmers when the price is right

​​With the drop of Satisfy’s American Desert line, the Parisian running brand introduces a sustainable bio-based fabric for post-run recovery that’s plucked from the ocean. The new batch of Cosmetic Tees — classic tees, muscle tees, and long-sleeved shirts — feature seaweed-derived SeaCell, a fibre with health and environmental advantages.

In a new study published in the journal Communications, Earth & Environment, University of Montana researchers and colleagues explore how climate change could challenge efforts to protect biodiversity within the network of protected areas around the globe.

A prominent climate group accused the McDonald's corporation of another greenwashing stunt on Monday after the burger giant announced it would cut global greenhouse gas emissions to net-zero by 2050.

The food and beverage giant's Pepviz platform uses analytics, data science and other tools to ensure a store is carrying the right product mix and optimizing shelf space.

5-hour Energy Shot’s parent company Living Essentials is launching a full-size carbonated energy drink this month. The 16-ounce beverage will come in three flavours: Berry, Grape and Watermelon, which the company said are the most popular flavours of its energy shot.

The Pished Fish is releasing a Christmas selection box of booze-infused salmon for the festive season.

The worlds first vegan prawn-crackers is rolling out in the UK, made by Native Snacks.

Sweegen will expand its high-intensity sweeteners portfolio early next year with the addition of brazzein, an ultra-sweet tasting protein found in small quantities in the fruit of a West African plant called oubli, that can be produced on a commercial scale via microbial fermentation.

Estonian start-up