Weekly Industry Roundup: Innovations in Food Delivery and Alt-Protein Funding

This week, the food tech industry witnessed significant developments with Uber’s strategic investment in the drone delivery platform Flytrex, aimed at expanding its food delivery network. Meanwhile, numerous alternative protein companies announced funding rounds, highlighting the growing interest in sustainable food sources.

In legislative news, the European Union has proposed yet another delay in its anti-deforestation law, stirring discussions among environmentalists and policymakers. Additionally, tech giant Oracle has ventured into the agtech arena by launching a new AI tool to support agricultural monitoring.

Funding News

🇫🇷 French startup NxtFood has successfully raised $58 million to enhance its alt-meat platform, with plans to achieve profitability within the next 12 to 18 months AgFunderNews.

🇺🇸 Uber’s investment in Flytrex is a significant step toward scaling drone delivery Restaurant Dive.

🇳🇱 The Protein Brewery has completed a $35.6 million Series B funding round to expand its mycoprotein production, highlighting its efficient process which is less capital intensive AgFunderNews.

🇳🇱 Revyve has raised $28 million in Series B funding to develop egg replacers sourced from yeast, stating that their products are competitive in pricing compared to traditional eggs AgFunderNews.

🇺🇸 Alice Mushrooms has secured $8 million in funding for its functional vegan chocolates, backed by Unilever and Tiësto Green Queen.

🇺🇸 ArkeaBio raised $7 million and has appointed a co-founder of Vence to expedite the development of its livestock methane reduction vaccine AgFunderNews.

🇩🇰 Greenland’s Rock Flour Company has successfully raised €6.1 million in a seed round led by EIFO and Novo Holdings Net Zero Investor.

🇬🇧 Scindo completed a $5.4 million seed round to support its AI-powered enzyme discovery platform AgFunderNews.

🇺🇸 Helios AI has raised $4.7 million to launch an AI co-pilot designed for food supply chains The Packer.

🇮🇳 Equilibrium has secured $3 million in seed funding to scale Carbon Dioxide Removal (CDR) projects in India Carbon Herald.

🇹🇷 Turkish brand Itz Nutz has received $535,000 for its cashew-based dairy alternatives Vegconomist.

🇧🇷 Brazilian mycoprotein producer Typcal is set to receive a €350,000 investment through the Biotope incubator Vegconomist.

Mergers & Acquisitions, IPOs & Partnerships

🇦🇺 DIT AgTech has announced a strategic collaboration agreement with Sea Forest Digital AgTech.

🇺🇸 Sun World International has formed a joint venture with Pairwise to develop pitless cherries iGrow News.

🇫🇮 Solar Foods has joined forces with European universities in a European Innovation Council project focused on converting sunlight into food Solar Foods.

🇺🇸 January AI announced the sale of Eden’s Gut Health assets to ZBiotics Insider.

🇳🇿 Clean Food Group has acquired a 1 million-liter fermentation facility for faster yeast oil production AgFunderNews.

🇳🇿 Fonterra has partnered with BioLumic to introduce light-activated seed traits into New Zealand’s dairy systems Biolumic.

🇺🇸 🇰🇷 Michroma has partnered with CJ CheilJedang to scale commercial production of natural colors through fermentation AgFunderNews.

Funds, Grants & Accelerators

🇺🇸 Innovate Animal Ag has launched a new Technology Grants program AVI News.

🇺🇸 Akorn Technology has won an NSF grant to develop all-natural fungicides aimed at replacing synthetic products Produce Grower.

People Moves

🇨🇭 Nestlé has appointed Alfonso Gonzalez Loeschen as the new CEO of Nespresso Yahoo Finance.

Other News

🇪🇺 The EU is planning yet another delay in its anti-deforestation rules Politico.

🇺🇸 Guardian Agriculture, a drone startup, has shut down its operations The Robot Report.

🇺🇸 Onego Bio has received an FDA ‘no questions’ letter affirming the GRAS status of its Bioalbumen product Protein Production Technology.

🇪🇸 Eatable Adventures has launched FoodRise, a hub aimed at transforming the food system in the Southern Cone Capital Riesgo.

🇺🇸 Olo has experienced layoffs following its acquisition by a private equity firm Restaurant Business Online.

🇦🇺 Nourish Ingredients has established a global commercial hub in Leiden focusing on fats sourced from fermentation AgFunderNews.

🇺🇸 Oracle has launched a new AI tool designed for government agricultural monitoring Street Insider.