Join the Newsletter

Stay up-to date with food+ag+climate tech and investment trends, and industry-leading news and analysis, globally.

Subscribe to receive the AFN & AgFunder
newsletter each week.

Agtech Funding Sheet: BioConsortia Closes $12m Debt/Equity Round, Privateer Raises $40m, more

November 10, 2016

BioConsortia, an ag biotech company commercializing and developing microbes for crop enhancement, completed a $12 million raise. This includes an $8 million equity round from bigwig VCs Khosla Ventures and Otter Capital, both existing investors, as well as a $4 million venture debt raised earlier in 2016 with multi-stage banking entity Square 1 Bank. The Davis, CA-based company claims to hold one of the world’s largest collections of pre-screened and characterized micro-organisms.

Privateer Holdings, a private equity firm backing legal cannabis companies, raised an additional $40 million in convertible bridge financing. This brings its total funding to $122 million, making it the largest private capital raise in the legal cannabis investment business, according to the company. The new capital will be used to expand its portfolio into new markets and brands, to complete strategic acquisitions, and to launch new ventures. We spoke with Privateer Holdings about its global expansion plans earlier this year.

Midwestern Bioag, a biological farming consultant and retailer, raised $21.3 million in venture funding in a round led by Chicago-based food and ag fund S2G Ventures. Mission-backed investors joined the round including the McKnight Foundation, and St. Louis’ Franciscan Sisters of Mary via Goldman Sachs’ impact arm Imprint Capital. Santa Monica-based Bison Capital Asset Management, Madison Bay Capital Partners, and Tau Investment Management also participated in the round.

HerdDogg, a startup developing smart tags for cows, has raised $750k in seed funding, including $500k from Sierra Ventures, a central Illinois-based venture capital firm targeting Midwestern startups. The company is hoping to replace the widely-used barcode technologies for tracking livestock performance with its wearable bovine fitness trackers. Launched in 2015, the company appeared on Intel’s reality show America’s Greatest Makers.

The Poultry Exchange, a chicken meat marketplace, has closed its seed funding round. Read our recent interview with company CEO Janette Barnard to find out who invested in the Dallas-based brand and why.

Gousto, a UK-based recipe kit delivery service, raised (£10 million ($12.28 million) following a £9 million Series B in December 2015. Investors include small- to mid-size UK company VC Angel CoFund, UK bank Barclays, seed and early-stage tech investor BGF Ventures, London-based MMC Ventures, and early-stage personal care and digital industries funders Unilever Ventures. Founded in 2012 and based out of West London, the company focuses on reducing food waste, providing ultra-fast delivery, and competing with HelloFresh.

Naturally Splendid, a listed biotech company focusing on the hemp industry, raised $3.2 million in a private placement. The company combines science and technology to create hemp-based products for the health, biopharma, and nutrition industries.

Hungry, an online food marketplace linking foodies with personal chefs, closed a $2.7 million seed round led by Karam Kinduja’s New York-based Timeless Capital and Bob Hisaoka. The funding will be used to expand the company’s reach into the greater D.C. area.

Foodstirs, a Los Angeles-based e-commerce baking brand, completed an undisclosed Series A round with Boston-based multi-stage investor Beechwood Capital, Vegas-based Cambridge Companies, Ken Wegner, and Mucker Capital. The company launched to fill what it perceived as a lack of organic, premium, and “clean-labeled” baking products.

Send us your exclusive funding news to guarantee a full story on AgFunderNews. Email [email protected]

Join the Newsletter

Get the latest news & research from AFN and AgFunder in your inbox.

Join the Newsletter
Get the latest news and research from AFN & AgFunder in your inbox.

Follow us:

AgFunder Research
Join Newsletter