Agtech and Foodtech: Funding, M&As, and Industry Updates

AgFunderNews provides a roundup of essential funding milestones, mergers, acquisitions, and intriguing industry developments within the agtech and foodtech sectors.

Funding News

🇩🇰 Bactolife has successfully raised $35 million in a Series B funding round to advance the commercialization of its innovative gut health ingredients, focusing on binding proteins. AgFunderNews

🇬🇧 Biographica secured $9.5 million to support its AI-driven crop design initiatives and has announced a strategic partnership with BASF. AgFunderNews

🇳🇴 Spoor, based in Norway, completes an €8 million Series A funding round amidst increased biodiversity compliance requirements for wind developers. Arctic Startup

🇳🇱 The Protein Brewery has received a $2.7 million EU grant dedicated to producing mycoprotein powder aimed at dairy alternatives. Green Queen

M&As, IPOs & Partnerships

🇺🇸 L Catterton has finalized a deal exceeding $500 million to acquire the cottage cheese brand Good Culture. Reuters

🇺🇸 Corteva has entered into a joint venture with BP to expand its biofuel production efforts. Market Watch

🇿🇦 MyEasyFarm is collaborating with Anthesis to scale AgriCarbon initiatives across South Africa, linking digital technology with carbon farming. AgTechNavigator

Funds, Grants & Accelerators

🇺🇸 Grit Road Partners has launched its second VC fund aimed at fostering agtech innovation in the Midwest. Silicon Prairie

People Moves

🇺🇸 Beyond Meat has appointed a new chief accounting officer as part of its extensive financial restructuring. Food Dive

🇮🇱 Orbia Netafim has welcomed Melissa Lilze as senior vice president for North America. Netafim

🇺🇸 Afresh has appointed a new chief revenue officer to enhance its leadership team. Progressive Grocer

🇩🇪 Formo has enlisted Dr. Andreas Heyl as its new chief technology officer. Vegconomist

Other News

🇺🇸 Coca-Cola has initiated a corporate restructuring that will result in 75 layoffs. Food Dive

🇺🇸 The US appropriations bill has seen the removal of a controversial ‘immunity shield’ for the pesticide industry. The Guardian

🇺🇸 AQUA Cultured Foods has announced the conclusion of operations after trailblazing efforts in whole-cut, fish-free seafood. Protein Production Technology

🇺🇸 Meati Foods has faced property seizure due to non-payment of taxes. AgFunderNews

🇺🇸 New US dietary guidelines have sparked a debate over protein consumption, suggesting that ‘most Americans already consume enough protein,’ and favoring meat and full-fat dairy products. AgFunderNews

🇬🇧 GrowUp creditors are reported to be owed £120 million as the vertical farming company enters administration. Vertical Farm Daily