“We acquired the assets through an auction, so we’ve acquired the brand name, all the data sets, the customer contacts, essentially all the assets, and none of the liabilities,” says Almanac CEO Sumer Johal
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.
CommonGround is staying laser-focused on its farmland marketplace and its recently launched insurance business.
“Cautious optimism” is warranted as deal values have increased for two consecutive quarters,” say PitchBook analysts.
“Fulcrum maybe isn’t the most trendy investor, but we care a lot about what has real impact on the farm.”
Startups in the Ag Marketplaces & Fintech category have taken the top spot for funding in recent months, bringing in $65 million, or 41% total investment on the continent so far in 2024
Israel-based agrifoodtech startups have closed just 17 funding rounds since the start of the conflict. Raising some $161 million since October 7, 2023, the total is a 72% drop on the same period the year before, and some 73% fewer deals.
“BIFT is a significant step forward in addressing the smallholder financing gap by unlocking much-needed private capital.”
While it accounts for a small fraction of global investment in the field, Africa’s agrifoodtech sector is showing mild growth in 2024, with startups raising $145 million in the first half of 2024, a 1.6% year-over-year increase vs H1, 2023.
Crude pongamia oil can be converted into biodiesel, renewable diesel, or sustainable aviation fuel, says Terviva founder and CEO Naveen Sikka.
Eventually, says Andrew Ive at Big Idea Ventures, “It all shakes out and the less smart money decides to go chase the next opportunity. So we had foodtech, we had crypto, and now we have AI…”
For more than 30 years, Australia’s rural R&D corporations have partnered with traditional research providers to drive innovation that solves industry challenges. Now, they’re also looking to the startup ecosystem for faster, bolder solutions that reach producers sooner.
Agronomic platform CropX will integrate EnGeniousAg’s nitrogen-sensing technology into its farm management offering.
“What’s really exciting about gene editing is precision and speed,” says Corteva chief technology and digital officer Dr. Sam Eathington.
Peter Rosholm plans to retain the US staff and invest a “substantial” sum to expand capacity, AgFunderNews has learned.
SOLASTA Bio says its biopeptide products perform “as effective or better than standard insecticides.”
Expect fewer agtech-specific funds, more corporate involvement and lots of generative AI.
Reaching sustainability targets could be a big driver for M&A deals in the dairy sector, according to RaboResearch.
HabiTerre will use the funds to scale up its environmental systems models that can analyze farming’s impact on the environment.
Precision ag startup BemAgro will expand its focus into forest management via a new partnership with Suzano Ventures.
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