The Week in AgriFoodTech: AI-powered protein, plant-based food dyes, and maggot robots
Plus: How not to waste 316 million pounds of food this Thanksgiving…
Plus: How not to waste 316 million pounds of food this Thanksgiving…
With $280 million raised across 93 deals, in 2024 to date the country ranked third in total agrifoodtech funding in Asia Pacific, due to a 58% increase in funding
VC investment into aquaculture broke records in 2023; 2024 may tell a different story.
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“When we think about a decentralized food system, which we have to move to, this technology is going to be a major unlock,” says MISTA founder Scott May.
It is “clearly communicated to all competitors in our documentations that awards are not guaranteed,” says XPRIZE. “This is not the first time a winner has not been identified by our judges.”
“This is the culmination of seven years of R&D to get expression levels to a point where the science and the economics make sense,” says founder and CEO Magi Richani.
More than half of all Thanksgiving food waste in the US will be just two items, turkey and milk, says think tank ReFED.
Kelp Blue founder Daniel Hooft discusses the ups and downs of farming giant kelp and his journey from the oil industry to aquaculture.
Plus: Malaysian farm-to-restaurant platform Secai Marche raises Series A funding.
In 2024 Asia-Pacific agrifoodtech startups have shown resilience against global market headwinds, securing $4.2 billion in funding and 31% of the global investment in the sector this year.
For a sector that deploys cutting edge tech in everything from logistics to pathogen control, the food industry is still stuck in the dark ages when it comes to finding co-manufacturers, says Keychain CEO Oisin Hanrahan.
“There was a feeling that supply chains seemed to work reasonably well until around 2010. And then things start getting really messy,” says supply chain consultant Matt Lekstutis.
The ROI for customers is “about reducing food waste, opening up new markets, and having food that is fresher and tastier,” says the Singapore-based startup.
Opinion is a key milestone on the way to making Impossible Foods’ flagship products available in the EU, pending final approval by the European Commission and EU Member States, says the firm.
The fact Plantible has secured long-term offtake agreements and is able to scale in a modular fashion –scaling out rather than scaling up with proven tech—has helped build trust with investors, says its CEO.
In addition to honey and ancient grains, the company has now launched a coffee product that’s being distributed in the US and Europe.
Plus: chatbots for cultivated meat are here.
“It’s not just about plant-based, it’s about coming up with elevated products in every category,” says CTO Dr. Karim Pichara.
Shiru is “building a comprehensive platform that will revolutionize ingredient discovery across multiple molecular classes,” claims founder and CEO Dr. Jasmin Hume.