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.
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.
The pongamia tree is a protein powerhouse that far outclasses the globally dominant soybean: its yields can offer as much as 10 times the beans per acre as soy, according to TerViva, which closed funding today.
The new facility will be automated from seeding to growing to harvesting featuring handling robotics, artificial intelligence, data analytics, and around-the-clock monitoring sensors and control systems to optimize every aspect of growing produce indoors.
Postmates, a San Francisco-based logistics company that operates a network of couriers who deliver goods – mostly food — locally, has closed a pre-IPO $100 million funding round led by BlackRock, Glynn Capital and Tiger Global, upping the company’s valuation to approximately $1.85 billion.
Ostara, a nutrient management solutions company, has closed a new round of equity financing co-led by existing investors VantagePoint Capital Partners and the food-focused European family office Wheatsheaf Group.
The funds will be primarily used to advance Food-X Urban Delivery, SPUD’s shared e-commerce grocery delivery platform that allows multiple third-party retailer partners to provide grocery delivery to customers.
Zymergen is not wholly focused on agriculture but it’s a significant part of its business and drove early demand for its molecular products that aim to replace petroleum-based products and other environmentally-damaging ingredients with a biological alternative.
Bioceres, the Argentinian ag biotech business, is set to list on the New York Stock Exchange (NYSE) early next year through a reverse listing with a company controlled by Uruguyuan presidential hopeful Juan Sartori.
The fledgling startup industry looks different to other global markets with the vast majority of innovation and investment ($1.7 billion) taking place downstream; but China’s agrifood startup scene has something the US market does not.
It was an exciting year in farm technology, to say the least, with several exits and record deals set and then overtaken by even larger deals just weeks or months later. Check out the standout deals of 2017.