Europe's agrifood tech ecosystem raised just 9% of the funding that went to foodtech and agtech startups globally in 2018. But deal activity increased 23% as agrifood tech startups in the region closed a similar number of deals as in the US.
Many Kenyan farms struggle for access to quality farming products like vaccines, fertilizers or diagnostic equipment; the farmers also find it hard to attain or acquire sound veterinary or technical expertise, according to Sidai.
Retail and restaurant tech is a category of agrifood tech startups encompassing technologies and services aimed at making retail food businesses more profitable as well as improving shopper experience at the supermarket, in restaurants and other brick & mortar stores.
Animal health startup Applied LifeSciences & Systems (ALSS) closed an $8 million Series A round of equity financing co-led by Merck Animal Health and Mountain Grou Partners. Oval Park Capital, a Raleigh-based early stage investment firm, also participated in the round.
Motif will focus on providing food companies with ingredients for their growing alternative protein product lines in the plant-based and meat alternative space. It will also use Ginkgo's science and technology to design and engineer new cells to develop other new food formats.