Weekly Update on Funding, Legal Battles, and Market Movements in the FoodTech Sector

This week witnessed significant developments in the Fast-Moving Consumer Goods (FMCG) and FoodTech sectors, highlighted by notable funding raises in Latin America and India. Companies like “super app” Rappi and grocery platforms Citymall and FirstClub secured impressive financial backing. In legal news, alt-protein firms are taking action against Texas over its ban on cultivated meat, while Apeel Sciences is embroiled in a defamation lawsuit against a wellness influencer. Adding to the market dynamics, the CPG giant Kraft Heinz has announced plans to split into two distinct entities.

Funding Highlights

International Investments

🇨🇴 Rappi secures $100M debt financing, which is its largest credit deal to date. Source: Latamlist

🇮🇳 Citymall raises $47M to challenge the ultra-fast delivery giants in India. Source: TechCrunch

🇮🇳 FirstClub secures $23M led by Accel and RTP Global. Source: Deal Street Asia

🇪🇸 HappyRobot raises $44M Series B to enhance AI applications in the supply chain. Source: Tech.eu

🇺🇸 Orchard Robotics, dubbed the ‘AI farming company,’ raises $22M to expand its precision agriculture platform. Source: AgFunderNews

🇬🇧 Xampla receives $14M to push its plant-based alternative to single-use plastic ahead. Source: Packaging Europe

🇫🇮 A Finnish greentech startup raises $11.7M for its plant-based dairy solutions. Source: Tech in Asia

🇸🇬 Greenitio raises $1.5M to develop plastic-free cosmetics using mushroom-derived chitosan. Source: Green Queen

Acquisitions and Partnerships

🇮🇱 CropX acquires Acclym to elevate sustainable food systems at an enterprise scale. Source: CropX

🇦🇺 FarmLab expands its soil-measurement toolkit through the acquisition of Ziltek. Source: AgFunderNews

🇳🇱 The Vegetarian Butcher collaborates with Vivera to create the Vegetarian Butcher Collective. Source: Protein Production Technology

🇨🇭 🇮🇩 Clarmondial and Supernova join forces to boost nature-based investments in Indonesia. Source: Impact Investor

🇩🇰 🇫🇷 🇪🇨 BioMar partners with Innovafeed and Auchan to scale insect feed for the Ecuadorian shrimp sector. Source: Seafood Source

🇳🇴 🇺🇸 EAT collaborates with Sodexo for a strategic partnership. Source: Eat Forum

Funds, Grants, and Initiatives

🇬🇧 The UK government announces £12.6M in agtech competitions. Source: UK Tech News

🇩🇰 🇨🇿 🇵🇹 A new €2.2M European project aims to boost the adoption of plant-based foods. Source: Vegconomist

Leadership Changes

🇺🇸 Tom Bennett joins The Yield Lab Institute as Global Head of Partnerships. Source: LinkedIn

🇺🇸 Dr. Sunil Chandran rejoins Amyris as Chief Technology Officer. Source: PR Newswire

🇺🇸 Babylon Microfarms CTO Graham Smith steps down. Source: LinkedIn

🇳🇱 Meatable enacts leadership changes. Source: Alt Meat

In Other News

🇺🇸 Texas’ ban on lab-grown meat is facing criticism as companies sue to overturn the law. Source: The Dallas Morning News

🇺🇸 Land O’ Lakes restructures Truterra, leading to team reductions. Source: The Daily Scoop

🇺🇸 Kraft Heinz is splitting into two companies. Source: CNN

🇺🇸 California launches a statewide agricultural innovation network. Source: Fresh Plaza

🇳🇱 Carbon Robotics begins production of LaserWeeder in the Netherlands. Source: Trekker

🇺🇸 Fizz expands into grocery delivery from its origins as a college social app. Source: TechCrunch

🇳🇱 CRAFT Consortium announces plans to build the world’s first cultivated meat farm. Source: Protein Production Technology

🇺🇸 Chef-powered meal service CookUnity launches a ‘Food is Medicine’ initiative with EmblemHealth. Source: AgFunderNews

🇺🇸 Apeel Sciences sues ‘Green Smoothie Girl’ for defamation and unfair competition. Source: Perishable News

🇺🇸 Starbucks implements AI for inventory management in its stores. Source: Restaurant Dive

🇺🇸 Atarraya’s high-tech shrimp farms launch in New Jersey amidst trade challenges. Source: AgFunderNews