Weekly AgriFood Startup Roundup: Funding, M&A, and People Moves
This week in the world of agribusiness and food tech, there have been significant developments ranging from funding rounds to mergers and acquisitions, as well as key personnel changes. Let’s dive into the latest updates from the industry:
Startup Funding
🇮🇸 Iceland’s First Water raised a whopping $43 million to promote sustainable salmon production and has plans to add 330 new jobs to its workforce, signaling growth and expansion in the aquaculture sector.
🇰🇷 INTAKE a leading precision fermentation company, closed a $9.2 million Series C deal, showcasing investor confidence in alternative protein technologies.
🇮🇳 Accel India led a $6.7 million funding round for AgroStar, an agricultural marketplace, highlighting the continued interest in agritech solutions.
🇪🇪 Estonian UP Catalyst secured $20 million from the European Investment Bank (EIB) to scale its CO2-based raw material production, underscoring the importance of sustainable practices in the industry.
M&A, IPOs & Partnerships
🇬🇧 CNH Industrial acquired the intellectual property and assets of Advanced Farm, a move that signifies the company’s strategic positioning in the agtech space.
🇸🇪🇩🇪 Europe’s largest dairy cooperative merger could pave the way for new opportunities in plant-based innovation, reflecting the shifting landscape towards sustainable and ethical food production.
Funds, Grants & Accelerators
🇸🇪 The EU granted a $55 million loan for Swedish ag giant Lantmännen to construct a pea protein factory dedicated to meat alternatives, aligning with the growing demand for plant-based proteins.
🇺🇸 J.P. Morgan’s Campbell Global raised $1.5 billion for a climate-focused timberland fund, emphasizing the importance of sustainable investment practices in forestry.
People Moves
🇬🇧 Ivy Farm appointed Gail Francis to spearhead commercial efforts for its premium cultivated Wagyu beef, demonstrating a focus on premium quality and strategic leadership in the cultured meat sector.
🇺🇸 Pivot Bio welcomed Travis Frey as its Chief Technology Officer, highlighting the company’s commitment to innovation and technology advancement in agriculture.
Other News
🇦🇺 Cultured quail startup Vow received regulatory approval in Australia & New Zealand, marking a significant milestone in the cultured meat industry.
🇨🇱 NotCo introduced its AI technology to accelerate product innovation, showcasing the convergence of food and technology for enhanced consumer experiences.
Stay tuned for more updates on the evolving landscape of agribusiness and food technology!
