Brief: Chinese e-grocers seek to raise a combined $700m in US market debuts
Competitors Missfresh and Dingdong filed for New York IPOs earlier this month.
Competitors Missfresh and Dingdong filed for New York IPOs earlier this month.
The Montanan startup claims it can offer “superior unit economics” thanks to a “unique hybrid facility configuration” combining conventional greenhouses with vertical farming.
The tech-enabled ‘grab n’ go’ restaurant was valued at $1.5 billion at the time of its last publicly announced funding round in September 2019.
Both companies source fresh produce from farmers and agribusinesses and deliver it to consumers, who can order groceries through a mobile app.
Monde Nissin raised just over $1 billion in its Philippines IPO – and is earmarking much of it for expansion in the US.
It started out as a last-mile food delivery app in 2011 before branching out to become a ‘full stack’ logistics and fulfillment platform.
Oatly appears to fit squarely into an ESG portfolio for public market investors, especially in comparison to many companies being touted as ESG bets.
Ginkgo Bioworks said it will use the capital raised to “dramatically increase the scale” of its cell-programming tech platform.
The deal involving the St Louis-based startup – which is developing gene-edited and selectively bred versions of crops used in alt-protein and animal feed production – is the latest in a string of recent agrifoodtech SPAC mergers.
Zomato, which was founded in 2008, has raised a total of $2.1 billion to date from the likes of Ant Financial, Temasek, and Sequoia Capital.
It will be the Philippines’ biggest-ever IPO – and it’s being driven by demand for alt-protein and instant noodles.
Oatly expects to raise at least $100 million through its NASDAQ float, but may seek a further listing in Hong Kong depending on geopolitical and business considerations.
The Singapore-based app claims to be the category leader for online food delivery, ride-hailing, and digital payments in Southeast Asia.
The plant-based burger maker is reportedly planning to go public within the next 12 months, either via a traditional IPO listing or a SPAC merger.
The proposed deal would value Grab at around $35 billion and could complete as soon as this week, according to people familiar with the matter.
The UK-based food delivery app saw its share price nosedive by as much as 30% during its first day of trading on the London Stock Exchange yesterday.
The Newark-based company is set to merge with Spring Valley Acquisition Corp, raising as much as $357 million in gross proceeds at a $1.2 billion valuation.
The Pasadena-based SPAC will aim to acquire technologies and privately held businesses in the agritech and climate change mitigation sectors.
Infarm CEO Erez Galonska declined to comment on rumors that the startup has retained perennial IPO underwriter Goldman Sachs to help it raise more funds.
The UK food delivery app also said it will pay its self-employed drivers IPO bonuses of up to $13,827 each.
Sponsored
International Fresh Produce Association launches year 3 of its produce accelerator