A courier for Line Man Wongnai. Image credit: Line Man Wongnai

The Week in Agrifoodtech: Food delivery’s latest unicorn, $80m for virtual restaurants, Pat Brown’s new venture

September 29, 2022

Thailand-based food delivery service Line Man Wongnai became the sector’s latest company to achieve unicorn status with a massive Series B round. Virtual restaurant/cloud kitchen startups like Not So Dark and CloudEats continue to rake in the funds and Impossible Foods’ founder Pat Brown hinted at a new venture company. In agtech, funding for insect startups continues.

Foodtech funding

🇹🇭 Line Man Wongnai bags $265 million, achieves “unicorn” status. Line Corporation and Singapore’s GIC led the Series B round for the food delivery company. (Deal Street Asia)

🇫🇷 Virtual restaurant franchiser Not So Dark raises $80 million to expand. Kharis Capital and Verlinvest led the Series B round. (Yahoo Finance)

🇺🇸 Robot-barista Artly brews up $8 million pre-Series A funding. The company will use the funds primarily to expand around the United States’ west coast. (OttOmate)

🇺🇸 Plant-based foods company Wicked Kitchen raises $20 million bridge round. New investors include actor Woody Harrelson and the Ahimsa VC fund. (PR Newswire)

🇪🇸 Vegan cheesemaker Mommus gets undisclosed investment from Dacsa Group. The two companies will co-create alternative dairy products and expand distribution. (Vegconomist)

🇪🇸 Innomy rakes in €1.3 million ($1.3 million) pre-Series A to scale up mushroom-based proteins. Corporación Cervino, Rockstart and others participated in the round. (Protein Report)

🇰🇷 Envisioning Partners leads $1.6 million pre-Series A for TissenBio. The latter produces whole cuts of cultivated and plant-based meat using 3D bio-printing technology. (Vegconomist)

🇩🇪 Blue Farm scores €3 million ($2.9 million) for “radically redeveloping” oat milk. Capital will primarily go towards expanding the online business and user experience. (Übermorgen)

🇵🇭 CloudEats cooks up $7 million Series A extension led by Nordstar. The cloud kitchen startup plans to expand further across Southeast Asia in 2023. (Tech in Asia)

Agtech funding

🇦🇹 Insect protein startup Livin Farms announces $5.8 million Series A raise. Peter Luerssen led the Series A round, which will go towards Livin Farms system for processing black soldier flies. (TechCrunch)

🇬🇭 Agribusiness marketplace Farmerline Group announces $1.5 million round. The investment, part of a pre-Series A raise from social impact investor Oikocredit, is part of a total funding round worth $14.4 million. (AFN)

🇳🇬 Food procurement platform Vendease secures $30 million Series A.  Partech and TLcom Capital co-led the round, which Vendease will use to expand and launch new products. (AFN)

🇺🇸 Carbon measurement company Yard Stick gets $18 million. The funding is part of the United States Department of Agriculture’s (USDA) Partnerships for Climate-Smart Commodities initiative. (AFN)

Funds, grants & accelerators

🇺🇸 Dairy Farmers of America gets $45 million grant to reduce methane emissions, develop low-carbon products. The grant is part of the United States Department of Agriculture‘s Partnership for Climate Smart Commodities. (FoodBev Media)

🇬🇧 The Biotechnology and Biological Sciences Research Council (BBSRC) to invest £20 million ($22 million) into alternative protein. Funds will go towards research, innovation and commercialization. (Vegconomist)

🇬🇧 Diageo announces £450,000 ($486,000) funding across three innovation “challenges.” These challenges are intended to reduce and monitor the impact of water and climate crises on smallholder farms in Africa. (Diageo)

🇫🇮 Protein-from-hyrdogen startup Solar Foods is chosen for the European Commission’s €5.2 billion project. The Important Project of Common European Interest (IPCEI) initiative supports innovation around hydrogen projects. (Food Matters Live)

🇺🇸 Uber & Visa are issuing $1 million in grants to small businesses. The Grants for Growth program awards 100 merchants active on the Uber Eats platform with $10,000 each. (Restaurant Dive)

🇺🇸 🇳🇱 Kraft Heinz teams up with agrifoodtech accelerator StartLife. The partnership gives Kraft Heinz access to novel technologies and startups in production, processing and packaging. (Food Navigator)

🇺🇸 The National Science Foundation awards Akorn Technology $1 million. Funds will help the startup to advance and scale its edible coatings platform for fresh produce. (EIN Presswire)

Other news

🇺🇸 Former Motif FoodWorks director Michael Tai launches fermentation startup. Boston Bioworks provides advanced fermentation process development and scale-up services for ingredient companies. (Protein Report)

🇮🇳 Nala Robotics launches fast food robot “the Wingman.” The ‘bot can cook wings, fries and other foods autonomously and reportedly costs “less than half a human worker.” (Forbes)

🇺🇸 Hydroponic farms still qualify for organic certification, appellate court rules. The decision comes after a lengthy battle over whether organic crops in the US must be planted in soil. (Food Dive)

🇺🇸 Impossible Foods‘ founder Pat Brown is leading a new venture company. Tentatively known as Impossible Labs, the new company will fuel and fund innovation to support Impossible Foods. (Food Dive)

🇺🇸 Instacart unveils health program features and tools. The new health-focused business initiative will focus on nutrition security, food as medicine and making healthy options easier to access. (Grocery Dive)

Join the Newsletter

Get the latest news & research from AFN and AgFunder in your inbox.

Share on email
Share on twitter
Share on facebook
Share on linkedin
Share on reddit
Share on whatsapp
Share on skype
Join the Newsletter
Get the latest news and research from AFN & AgFunder in your inbox.

Follow us:


Sign up for our weekly food+ag+climate newsletter

This will close in 0 seconds

Join Newsletter