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Fundings-in-Brief: Ag Drone Tech Company Raises $7.4m, Food Traceability Technology Raises $10m Series B

February 11, 2016

Ag Drone Tech Company MicaSense Raises $7.4m

Seattle-based MicaSense raised $7.4 million from French drone company Parrot. The recent round piggybacks on Parrots’ previous $2m investment in the company in 2014. MicaSense creates sensor devices that attach to drones improved crop health and better yields. RedEdge, its first product, is a multispectral camera able to capture data over precise wavelengths. MicaSense also offers a software and analytics platform, ATLAS, which syncs with RedEdge and boosts farmers’ ability to examine the health of their fields over time.

Food Traceability Technology Label Insight Raises $10m Series B

Label Insight, a food traceability data company, has raised $10 million in Series B funding in a round led by KPMG Capital, the venture arm of global accountancy firm. Existing investors Serra Ventures, Houston-based Mercury Fund, and St. Louis-based Cultivation Capital, also joined the round.

The software-as-a-service (SaaS) data solutions company, which helps manufacturers and retailers track and record the thousands of ingredients in packaged foods, will use the funding to develop new products, broaden custom data views and expand data science capabilities through hiring.

KPMG clients stand to get access to the service, according to a press release.

FaceTime for Farmers Raises $450k Seed Round to Create Visual Remote Support App

Des Moines, Iowa-based startup AgriSync has raised $450k in seed funding to further develop and market its two-way video app that enables agriculture advisers to give visual remote support to farmers in their fields. Iowa State University reports that over 60 percent of farming decisions or problem-solving functions require input from an expert outside the farm. For many farmers, getting a hold of the expert and addressing the problem in real-time is more of a dream than a reality. AgriSynch is hoping to change that. Read more about the FaceTime for Farmers on AgFunderNews.

Power Supply Raises $5m Seed Round to Boost Food Delivery Service

With food delivery startups reaching fever pitch, securing funding in a competitive landscape can be a tall order. Power Supply recently raised a $5 million seed round led by Upfront Ventures with participation from Bay Area venture capitalist Hanson Li, primal diet advocate Mark Sisson, ex-Fresh Direct CMO Drew Koven, investment guru and advisor The Motley Fool, and Bankier. The new funding will be used to help the company reach new markets after recent launches in Los Angeles, D.C., and San Francisco. The new markets will likely be cities that have a strong wellness ethos, like New York, Atlanta, Dallas, Miami, and Chicago. To distinguish itself from the laundry list of other food delivery services, Power Supply brands its offerings as health-focused, including gluten and dairy free fare.

French Meal Kit Delivery Service QuiToque Raises $1.67m

Based in Ile-de-France and dubbing itself the first “ready-to-cook” delivery service in France, QuiToque raised a $1.67 million seed round with French early-stage internet startup investment fund Isai and European early stage investors 360 Capital Partners. Established in 2012, the company formerly operated under the name Cookintheworld, focusing initially on world cuisine. Delivering over 200,000 meals since 2015 at a rate of 40,000 meals per month, the subscription service provides customers with a weekly basket of ingredients and corresponding recipes. The money will also go toward creating new partnerships and fine-tuning the service.

NDTV’s E-commerce Marketplace Smartcooky Closes Undisclosed Round

Indian multi-faceted media group NDTV is getting ready to unveil its e-commerce marketplace featuring both health food products and personal care products. The company has closed a funding round with VLCC Health Care founder Vandana Luthra. VLCC focuses on the health and wellness segment. The marketplace will take advantage of NDTV’s existing food site, which boasts 3 million unique visitors per month. In December 2015, Smartcooky closed another undisclosed round with a group of angel investors including Rajan Anandan of Google India and former Unilever board member Singh Banga as well as others. Smartcooky will also create videos using the Smartcooky banner to run on NDTV’s other channels.

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