Brief: Indian e-grocer Grofers said to seek SPAC deal after stalled acquisition talks
Grofers is reportedly targeting a ‘reverse merger’ that would value it at around $1 billion after negotiations with prospective buyers hit a dead end.
Grofers is reportedly targeting a ‘reverse merger’ that would value it at around $1 billion after negotiations with prospective buyers hit a dead end.
Drizly, which hosts thousands of merchants across 1,400 US cities on its alcohol delivery marketplace, will be integrated into Uber Eats.
It’s one of the first agrifoodtech exits of 2021.
The Toronto-based company has pivoted from drones as a core business to offering multi-layer analytics as farmers seek the most bang for their data bucks.
The Swedish company has retained investment banks Morgan Stanley, JPMorgan Chase, and Credit Suisse to manage the offering, according to sources familiar with the matter.
The Singapore-based app expects GrabFood to hit breakeven by the end of 2021 – with or without prospective merger partner Gojek, which has reportedly opened talks with e-commerce giant Tokopedia.
The Singapore sovereign fund’s acquisition of a majority stake in the Israeli company is just the latest sign of its increasingly hard focus on agrifoodtech.
With the new business unit, Canadian telecom giant Telus is aiming to provide tech solutions across the entire agrifood supply chain.
Freshly’s subscription-based service will give Nestlé access to a “highly specialized consumer analytics platform and distribution network,” the Swiss company said.
The UK firm is buying two US startups, with CEO Tim Steiner seeing “significant opportunities” in robotic manipulation solutions for online retail and logistics.
Sun Art operates close to 500 stores across China which have been integrated with Alibaba’s food e-commerce platforms Taoxianda and Tmall Supermarket.
The SoftBank CEO is “stepping up pressure” on Anthony Tan, co-founder and CEO at Singapore-based Grab, to work out a “ceasefire” with his counterparts at Gojek.
Italy’s Valagro produces biostimulants and specialty nutrients for farming, as well as specialty ingredients for use in food, cosmetics, and animal feed.
Covid-19 has created new opportunities for acquisitions as startups struggle to fundraise, according to CropX CEO Tomer Tzach.
As the restaurant industry turns to tech amid Covid-19, startups are landing investment – and have a unique opportunity to accelerate tech adoption.
In Farmsave, FBN “saw a company that was deeply aligned with the same values [that] understands the role tech is going to play in the future of ag,” co-founder Charles Baron told AFN.
The dairy SaaS giant has positioned itself as the digital backbone of the dairy manufacturing supply chain since it launched in 2000.
CEO Erik Fyrwald previously told AFN that Syngenta’s takeover by ChemChina “gives us the freedom for increased investment around seeds and crop protection.”
With the new acquisition, RNAissance plans to ramp up production of its sprayable RNA pesticides while expanding production.
One of Covid-19’s biggest agrifoodtech casualties so far is the New Zealand farmer co-op’s scuppered $70 million investment in Afimilk.
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International Fresh Produce Association launches year 3 of its produce accelerator