The Week in AgriFoodTech: Significant Funding Announcements and Acquisitions
In an eventful week for agrifoodtech, several startups have successfully secured funding rounds while major industry players unveiled significant acquisitions and partnerships. Among those in the spotlight are the Spanish “earth intelligence” startup Xoople, the Indian snacks brand Farmley, and the Finnish food manufacturing firm Foodiq. Additionally, the Indian quick-delivery service Zepto made headlines with a mega-round of funding.
Meanwhile, Danone has unveiled plans to acquire the U.S. plant-based organic nutrition firm Kate Farms. Additionally, Ceres AI has partnered with Bayer Climate FieldView to enhance farm operations with AI-driven insights.
Funding Highlights
🇪🇸 Xoople, the world’s first Earth Intelligence company, has emerged from stealth with $129 million in funding. Source: Silicon Canals
🇮🇳 Zepto secured $100 million in new investment, reaching a valuation of $5 billion ahead of its IPO. Source: Tech In Asia
🇮🇳 Farmley raised $40 million in a round led by L Catterton. Source: DealStreetAsia
🇪🇸 Heura has bagged $22.2 million from EIB for expanding its plant-based tech platform, with an eye on profitability in the fourth quarter. Source: AgFunderNews
🇫🇮 Foodiq raised $11.2 million for its international expansion and to enhance its food manufacturing technology. Source: Silicon Canals
🇨🇦 Veritree, a B.C. climate tech startup, raised $6.5 million to fulfill its pledge to plant 100 million trees globally. Source: GeekWire
🇫🇷 Riverse has raised $5.6 million for scaling its carbon credits offering. Source: Tech.eu
🇸🇪 Lignin Industries in Sweden raised $4.4 million to develop bio-based plastic alternatives derived from trees. Source: Tech.eu
🇦🇺 Bovotica raised $3.4 million aimed at curbing methane emissions from cattle. Source: StartupDaily
🇲🇽 BioPlaster in Mexico raised $655,000. Source: LatamList
🇪🇪 Mondelēz has invested in Estonia’s eAgronom to promote regenerative farming practices across Europe. Source: Tech.eu
🇹🇭 MUU from Thailand secured funding to advance animal-free dairy production using precision fermentation. Source: Business News Asia
🇸🇪 Lantmännen is investing in the milk alternatives company Sproud. Source: Just Food
Mergers, Acquisitions & Partnerships
🇫🇷🇺🇸 Danone plans to acquire Kate Farms, a U.S. organic formula manufacturer. Source: Reuters
🇺🇸 Ceres AI partners with Bayer Climate FieldView to enhance farm operations with AI-driven insights. Source: Ceres AI
🇺🇸 Phospholutions expands distribution through a partnership with The Andersons. Source: CropLife
🇱🇧🇦🇪 Malak Al Tawouk partners with Switch Foods to introduce plant-based chicken in the UAE. Source: Vegconomist
Funds, Grants & Accelerators
🇩🇪 Bosch Ventures has made a $270 million bet on U.S. deeptech, raising questions about German innovation. Source: Tech Funding News
People Moves
🇺🇸 Manulife Investment Management has appointed Brent McGowan as Global Head and CIO of Agriculture. Source: PR Newswire
🇺🇸 CropLife America has appointed Paul Rea as Chair of the Board of Directors. Source: AgroPages
Other Notable News
🇨🇳🇧🇷 Meituan will launch the Keeta food delivery service in Brazil under a $1 billion deal. Source: South China Morning Post
🇺🇸 Vayda, a regen ag startup, has ceased operations. Source: LinkedIn
🇧🇷 IdeeLab has achieved CDMO status with a new industrial-scale facility for ag biological production. Source: AgFunderNews
🇺🇸 The FDA has approved three food colors derived from natural sources. Source: US Food and Drug Administration
🇺🇸 WeightWatchers has filed for bankruptcy amidst a surge in fat-loss pharmaceuticals. Source: BBC News
🇬🇧 Better Dairy aims to target the high-margin nutrition market with precision-fermented osteopontin. Source: AgFunderNews
🇺🇸 Indiana‘s governor issues a temporary ban on cell-cultured products for two years. Source: Brownfield
🇺🇸 Danforth Technology Center launches Spearhead Bio, a new gene-editing startup designed to overcome significant CRISPR obstacles. Source: AgFunderNews
🇮🇱 Yeap plans to commercialize upcycled yeast protein to access a new revenue stream with a fiber-rich product. Source: AgFunderNews
The latest updates illustrate a thriving agrifoodtech landscape with innovative startups making strides while established players expand through acquisitions and partnerships.
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