The high-cost of customer acquisition and a recent uptick in losses for the five-year-old food tech company could make the decision to list look precarious and spell bad news for competitors also considering listing.
The move to acquire Bright Agrotech will give Plenty the breadth of expertise and IP to scale with rapid speed, and is a natural move after a four-year relationship, according to Matt Barnard, cofounder and CEO.
The highs and lows of the food e-commerce space continued this week with Territory raising $6.7m in Series A funding in the same week that Maple closed and sold some of its assets to the UK's Deliveroo.
Tyson Foods Appoints its First Chief Sustainability Officer
Major poultry producer Tyson Foods has named Justin Whitmore to the newly-created role of Chief Sustainability Officer. The appointment follows the company’s introduction of a new initiative that puts sustainability at the core of the company’s future aspirations.
ReFED Names Chris Cochran As First Executive Director
ReFED, a collaborative, cross-sector effort of 40 businesses, non-profits, foundations, investors and policymakers committed to reducing food waste in the United States, has named Chris Cochran, Walmart’s senior manager of Corporate Sustainability, as its first executive director, effective in April.
Further M&A activity from large agribusinesses like Jain is essential so we caught up with Observant to find out what pieces of advice the cofounder would give to farm-based agritech startups hoping to turn their businesses into acquirable companies.
The deal is also the first exit for Monsanto Growth Ventures, the agribusiness’s venture arm which has been investing since the beginning of 2013 and led the $1.2 million Series A round for VitalFields in May 2015.
US farmland values fell 0.2 percent in Q3, representing a shift from 0.7 percent growth during Q2. Whole Foods is in a spot over two cases of Hepatitis in Detroit, while Western Growers plans to award startups at its upcoming AGM.