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Image credit: Flash Coffee

The Week in AgriFoodTech: Flash Coffee brews up $50m, ChrysaLabs nets $15m for soil science

May 11, 2023

This week, Singapore-based tech-forward coffee chain Flash Coffee secured funding, as did soil science startup ChrysaLabs, biotech startup MicroHarvest and sustainability measurement platform Improvin’. Beyond Meat got a thumbs up from the American Heart Association and New Culture plans to launch its animal free mozzarella at a high-profile pizza joint.

Image credit: Flash Coffee

Foodtech funding

🇸🇬 Flash Coffee raises $50 million Series B from Delivery Hero, Geschwister Oetker & others. Flash Coffee will expand its “high-tech” coffee chain across APAC. (Vulcan Post)

🇳🇱 Cosun and Oost NL invest €8 million ($8.7 million) into microbial food ingredient startup revyve. The latter will scale up its business to produce upcycled and local ingredients from co-products from the food industry. (Cosun)

🇩🇪 🇵🇹 Biotech company MicroHarvest raises €1.5 million ($1.6 million) from Simon Capital. MicroHarvest will use the funds to work towards commercialization of its alternative protein ingredients. (Future of Protein Production)

🇩🇪 TastyUrban bags up €1.5 million ($1.6 million) to cook up a virtual restaurant franchise business. The seed round was led by Earlybird and will help TastyUrban launch around Europe. (EU Startups)

🇳🇱 Farmless raises €1.2 million ($1.3 million) pre-seed round for its carbon dioxide fueled fermentation platform. ReventNucleus Capital, and Possible Ventures participated in the round. (AFN)

🇺🇸 Sobo Foods emerges from stealth with $1 million from Sustainable Food Ventures & others. The company wants to reimagine Asian comfort food for a new generation of consumers. (AFN)

Ecorobotix’ ARA in action. Image credit Ecorobotix

Agtech funding

🇨🇭 Ag robotics startup Ecorobotix has raised $52 million in Series B for automated precision spraying robots. Aqton PE and Cibus Capital co-led the round. (AFN)

🇨🇦 Soil science company ChrysaLabs raises CAD $15 million ($11 million) Series A. Leaps by Bayer, TELUS Ventures & others participated in the round. (FinSMEs)

🇸🇪 Sustainability measurement platform Improvin’ secures €3.5 million ($3.8 million) seed round from Pale Blue Dot & others. Improvin’ will use the funds to enter new markets including Germany, Belgium and others. (Tech.eu)

ChatFood cofounders Vinicius Rodriguesby and Benjamin Mouflard
ChatFood cofounders Vinicius Rodriguesby (left) and Benjamin Mouflard (right). Image credit: Deliverect

M&A, IPOs & partnerships

🇺🇸 🇦🇪 Restaurant tech startup Deliverect acquires ChatFood for undisclosed sum. The former will launch ChatFood in Europe and Australia and then in the US, Canada. (AFN)

Funds, grants & accelerators

🇨🇦 The51 Food and AgTech GP closes $30 million round of their $50 million fund. The money will go towards pre-seed to Series A investments to increase diversity in ag and agtech. (AFN)

🇮🇱 Evogene‘s Ag-Seed Division gets €1.2 million ($1.3 million) EU Horizon grant. The grant will support the creation of oil-seed crops with high carbon-dioxide assimilation and enhanced drought tolerance. (PR Newswire)

New Culture grated cheese
Image credit: New Culture

Other news

🇺🇸 New Culture to launch animal-free mozzarella at Nancy Silverton’s Pizzeria Mozza in Los Angeles. The two will host a series of launch events leading up to the official release in 2024. (Food Dive)

🇺🇸 Autonomous delivery startup Nuro pauses commercial expansion amid restructure. Nuro will do more layoffs and shift some focus to R&D, away from commercial operations. (TechCrunch)

🇺🇸 Salad chain Sweetgreen opens automated store in Illinois. The “Sweetgreen Infinite Kitchen” features an automated makeline meant to speed up the order fulfillment process. (Restaurant Dive)

🇺🇸 Beyond Meat‘s Beyond Steak now certified by American Heart Association’s Heart-Check program. The item is low in saturated fat with no cholesterol, GMOs or added antibiotics and hormones. (WallStreet Online)

🇬🇧 Ag robotics startup Small Robot Company says it’s nearly “through the danger zone” it entered after recently losing its lead investor in a funding round. The company is now crowdfunding via a pledge campaign. (AFN)

🇳🇱 Cultivated meat startup Mosa Meat opens 30,000sq ft “scale-up plant.” The plant will initially have the capacity to make tens of thousands of cultivated burgers a year from 1,000-liter bioreactors. (AFN)

 

 

 

 

 

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