Weekly Roundup: Latest Developments in the AgriFood Industry
This week saw significant funding and strategic moves in the AgriFood industry. From startups raising capital to M&A activities and new product launches, the sector is buzzing with activity.
Startup Funding News
1. 🇧🇷 Mombak raised $17 million in debt to further reforestation efforts in the Amazon.
2. 🇺🇸 ClearCOGS secured $3.8 million in an oversubscribed seed round for restaurant operations and food waste reduction.
3. 🇸🇪 OlsAro raised $2.8 million in a pre-seed round to expand its AI-enabled climate-smart crop breeding platform.
4. 🇨🇭 Switzerland’s Catchfree raised $1.5 million to scale production of innovative plant-based seafood.
5. 🇫🇮 KÄÄPÄ Biotech, a Finnish functional mushroom biotech company, received a $1 million investment to scale its operations.
M&A, IPOs & Partnerships
1. 🇺🇸🇬🇧 Eat Just struck a deal with VFG to bring its plant-based JUST Egg to Europe.
2. 🇸🇦🇺🇸 Liberation Labs entered Saudi Arabia as NEOM Investment Fund ventured into biomanufacturing.
3. 🇫🇷 Standing Ovation partnered with Bel Group to create recombinant milk proteins from whey waste.
4. 🇺🇸 Manus and Inscripta merged to become a leader in industrial biomanufacturing.
Funds, Grants & Accelerators
1. 🇪🇺🇮🇱 PeakBridge FoodSparks closed four seed investments, spanning from botanicals for gut health to functional mushroom extracts.
2. 🇺🇸 JPMorgan AM raised $1.5 billion for its forest & climate solutions fund.
People Moves
🇺🇸 GFI CEO Ilya Sheyman announced departure, with Jessica Almy appointed interim CEO.
Other News
1. 🇬🇧 UK vertical farmer Jones Food Company was placed into administration.
2. 🇩🇪 BENEO opened a $57 million pulse-processing facility in Germany.
3. 🇺🇸 The Better Meat Co. secured a patent for turning potato sidestreams into mycoprotein.
Stay tuned for more updates from the ever-evolving AgriFood sector.
