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Pact's flagship biomaterial product Oval is made from collagen. Image credit: Pact

The Week in AgriFoodTech: Brazilian ag marketplace Cayena bags $55m, alt-materials firm Pact raises $12m

September 26, 2024

While debate continues around use of the term “alt leather,” the products build around the concept keep rolling out. This week, two companies — Pact and Ecovative — raised funds to further their work in this area. Also bagging a capital round was Brazilian agri-biz marketplace Cayena, seaweed packaging startup Notpla, and biotherapeutics startup Bio-Sourcing, among others.

Meanwhile, Deliveroo bowed out of Singapore and a one-time leader in restaurant tech put itself up for sale.

Cayena simplifies transactions between suppliers and buyers in the food wholesale market. Image credit: Cayena

Foodtech funding

🇧🇷 Claure’s Bicycle Capital leads $55 million round for Cayena Bloomberg

🇺🇸 Helaina raises $45m series B round to support market entry of human lactoferrin AgFunderNews

🇺🇸 Mycelium innovator Ecovative raises $28m to propel MyBacon growth & launch eco-leather Green Queen

Pact’s flagship biomaterial product Oval is made from collagen. Image credit: Pact

Agtech funding

🇲🇾 Qarbotech Gains $1.5M to Expand Photosynthesis Enhancing Tech Across Southeast Asia Green Queen

🇧🇪 Bio-Sourcing secures €12.5M from EIC Accelerator for biotherapeutic production Tech.eu

🇺🇸 Enhanced rock weathering startup Eion strikes carbon removal deal with Microsoft, raises $3m series A extension AgFunderNews [Disclosure:AgFunderNews’ parent company AgFunder is an investor in Eion.]

🇨🇴 AgriCapital secured debt financing from Grupo AlphaMundi Latamlist

Biomaterials & climate tech funding

🇬🇧 Seaweed packaging: Notpla closes £20m Series A extension to fuel US expansion & sell 100 million plastic-free units Green Queen

🇬🇧 Biomaterial startup Pact raises £9m as it opens 13,000 sq ft lab UKTN

🇮🇳 Climate financing platform Two Point O Capital raises $6.3 million led by Omnivore Financial Express

The Rebellyous Foods production team. Image credit: Rebellyous Foods

M&A, IPOs & partnerships

🇺🇸 Lifeway Foods confirms receipt of unsolicited, non-binding proposal from Danone PR Newswire

🇺🇸 Rebellyous Foods partners with RMS Foods to revolutionize plant-based meat manufacturing Vegconomist

🇺🇸 NOVUS partnering with biotech company to develop new feed additives Feedstuffs

🇺🇸 701x Acquires DigitalBeef LLC American Cattleman

🇮🇱 GEA and Believer Meats join forces to scale up cultivated meat production EQS

🇺🇸 HowGood & Informatica team up to tackle food and ag’s ‘garbage in, garbage out’ data problem AgFunderNews

Enko Chem CEO Jacqueline Heard joins Sollum Technologies board of directors.

Funds, grants & accelerators

🇺🇸 Online foodservice platform Rgand launches $100 million accelerator for global suppliers Forbes

🇳🇱 Meatable secures €7.6 million Innovation Credit to accelerate cultivated pork production Protein Production Technology

People news

🇨🇦 Sollum Technologies welcomes Jacqueline Heard to its board of directors Sollum Technologies

Remi Schmaltz, founder and CEO, Brilliant Harvest
Remi Schmaltz, founder and CEO, Brilliant Harvest. Image credit: Brilliant Harvest

Other news

🇺🇸 Presto Automation puts itself up for sale Restaurant Dive

🇸🇬 Deliveroo gets out of cloud kitchen business in Singapore Tech in Asia

🇺🇸 EVERY secures foundational patent for ovalbumin produced via precision fermentation Business Wire

🇺🇸 Green group sues Tyson Foods for allegedly false climate claims Reuters

🇺🇸 Trump threatens Deere with 200% tariffs if it shifts manufacturing to Mexico Agriculture Dive

🇬🇧 Plant-based steaks by Juicy Marbles launch at 553 Sainsbury’s locations UK-wide Vegconomist [Disclosure:AgFunderNews’ parent company AgFunder is an investor in Juicy Marbles.]

🇬🇧 Tesco to ‘revolutionise’ food waste with facility that turns surplus food into animal feed Grocery Gazette 

🇨🇦 Brilliant Harvest emerges from stealth with AI-powered helpdesk for ag equipment dealers AgFunderNews

🇺🇸 Enko Chem Inc. develops a new mode of action discovery capability that can accelerate the development of sustainable new crop protection compounds Enko

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