Agtech Funding Sheet: TPG ART Invests in Anuvia, Nuritas Receives EU Grant, Omnivore Invests in FR8, more

Anuvia Plant Nutrients, a Florida-based plant nutrient company, has raised $23 million in equity capital from existing investors, led by TPG ART, the growth stage venture vehicle of global private equity group TPG that’s dedicated to renewable technologies. Osceola Capital Management, a private equity firm based in Tampa, Florida, and growth stage agtech VC Pontifax AgTech also increased their stakes. The company’s technology consumes and processes organic waste materials into a homogenous multi-nutrient enhanced efficiency fertilizer.

Nuritas, a bioinformatics tech company, has been awarded a $3.28 million grant from the European Union to develop a natural ingredient that can help thwart diabetes. Nuritas is using artificial intelligence to develop a database of peptides found in food that have health benefits, for use in commercial food, cosmetic and supplement products. As part of the grant, the Dublin-based company will conduct clinical trials during the next 18 months with the hope of offering a diabetes product as soon as 2020. Just over a year ago the Irish startup raised a $3.4 million seed round.

Decisive Farming, an Alberta-based farm management software platform, closed a $6 million Series A led by McRock Capital, a venture capital fund manager focusing on industrial IoT applications. Export Development Canada (EDC) also participated in the round. 

FR8—pronounced “Freight”— has raised a seed round from Indian agtech VC Omnivore Partners to accelerate its near-term growth. Based in Chennai, India, FR8 is a technology driven logistics service provider, offering long haul trucking solutions to large corporates, SMEs, and the agribusiness ecosystem in India.

InvestEco Sustainable Food Fund II, which invests in growth stage companies promoting health and sustainability in the food and agricultural sectors in North America, has attracted capital from OceanRock Investments. OceanRock is a Canadian mutual funds manager.

Parris and Heimbecker has received a $10 million investment from Canada’s Minister of Agriculture and Agri-Food, Lawrence MacAulay to build a new wheat flour milling plant in Hamilton, Canada that will increase production capacity and expand export markets, while enhancing food safety and traceability of its products. The investment is intended to support the federal government’s mission to create stronger jobs in food processing.

Terra’s Kitchen, a Baltimore meal kit delivery startup, completed an undisclosed venture round led by KiwiVenture Partners, an early-stage capital firm investing in tech startups. Launched in 2015, the company guarantees delivery of its meals, packed in reusable containers, in 30 minutes or less.

Foodstirs, a Los Angeles-based startup delivering bakery kits, raised an undisclosed Series A round led by Beechwood Capital, a Boston-based investment group backing low-middle market growth and venture stage startups. Multi-stage investor Cambridge Companies, pre-seed and seed-stage investors Mucker Capital, and solo investor Ken Wegner also participated in the round.

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