Berlin-based portable vertical farm startup InFarm on Tuesday disclosed a vast Series B raise of $100 million, bringing its total funding to over $134 million. The raise dramatically eclipsed the big vertical farming news from Britain’s Ocado, which had forked out $22m just a day before as part of a majority stake buyout of JFC, as well as for its new joint venture Infinite Acres.
Paris-based insect farming venture Ÿnsect has been awarded a €20 million grant from the European Commission and a €3.7 billion European public-private partnership to build an industrial-size facility in northern France.
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.
While the final size of the Series B has yet to be disclosed -- there are still some more potential investors coming into the round, according to CEO Arturo Elizondo -- sources close to the deal say it was raising $40 million.
Ninjacart, an Indian agritech startup that connects farmers to retailers, has raised Rs625 Cr ($89.5m) from New York-based hedge fund Tiger Global, taking its valuation to $320 million, according to the Economic Times.
It has taken the team of scientists at Ceradis more than a decade to develop a line of earth-friendly agriculture products. Now, with several on the market, the Dutch company has raised €9 million ($10 million) to commercialize a new biofungicide that prevents crop disease.
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.