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Fundings-in-Brief: Self-Heating Packaging Startup Raises $2.4m, Closes Angel Round, more

March 4, 2016

Self-Heating Packaging Startup Heat Genie Raises $2.36m

Heat Genie, the developer of a self-heating technology designed to revolutionize food packaging and streamline food prep time, has closed a $2.36 million round through equity crowdfunding platform SeedInvest. Companies that choose to adopt Heat Genie can use the technology to package their offerings in containers that are self-heating, giving consumers an on-the-go convenience factor. According to the company, the contents can be heated in less than two minutes with the push of a button located on the lightweight packaging. The materials used are also safe and recyclable, it says.

First Eat Closes $200k Seed Round

Indian food e-commerce company First Eat, which offers affordable meals through its mobile app platform, has raised a $200,000 seed round with undisclosed investors. The Guarguron-based company allows users to purchase meals on-demand or through a subscription service and offers dishes tailored to a variety of health requirements. According to the company, it is currently serving 80 to 100 meals each day with at least 77 percent of users coming back for more. With the new funding, First Eat hopes to expand into new markets and bump up its daily dishes sold rate to 500 by next quarter.

Cannabis.Net Closes Undisclosed Angel and VC Raise

Delaware-based marijuana software platform Cannabis.Net has closed its second round of funding with both angel investors and venture capital investors. Neither the size of the round or the identity of the investors has been disclosed. The website offers dispensary, doctor, and lawyer mapping services to aid both users and producers in the burgeoning cannabis industry. The new funds will be used to finish developing a new algorithm for its matching software called WeedMatch designed to help users find the right strain of marijuana for their needs. The site also provides a news and current events service to keep those interested in the industry up to date, and will soon expand into social media with its forthcoming Cannabisseur Social Network.

NY Food E-Commerce Startup Hungryroot Raises $3.7m

New York-based meal kit delivery service Hungryroot has closed a $3.7 million Series A with early stage investment firms Lightspeed Venture Partners, Lerer Hippeau Ventures, tech-focused investor Crosslink Capital, private equity growth investors KarpReilly, and New York seed investor Great Oaks Venture Capital. The company focuses on offering natural and healthy food meals that are based largely on vegetable ingredients. To read more about Hungryroot and how it fits into the billion dollar food e-commerce segment click here.

And from last week…

Israeli Precision Irrigation Sensor Company Saturas Raises $1m

Irrigation sensor provider Saturas closed a $1 million round to help build up its precision irrigation sensor technology for permanent crops from both existing and new investors. This is the Israeli company’s second round of funding, following a raise with The Trendlines Group in 2013. Saturas’s sensing system comprises miniature implanted sensors and wireless transponders that can measure Stem Water Potential (SWP), a metric that’s widely-recognized as one of the most accurate for determining the water status of plants. Read more about the company and its new investors on AgFunderNews.

Understory Closes $7.5m Series A with Monsanto Growth Ventures

Understory, which promises a new type of weather data using its sensors that analyze conditions directly at the Earth’s surface, has closed a $7.5 million Series A round with Monsanto Growth Ventures and early stage venture firm 4490 Ventures. According to the company, this “ground-truth-based detection” provides superior real-time insights into hyperlocal weather conditions, especially following a storm. Read more about how the company achieves this insight on AgFunderNews.

Indigo (formerly Symbiota) Raises $56m Series B and Re-brands

Indigo, an agtech startup researching beneficial microbes for plant growth and formerly operating under the name Symbiota, has raised a $56 million Series B funding from existing investor and early-stage investor Flagship Ventures. The new funding will be used to continue the company’s research efforts and to bring its first product to market. To find out why the company rebranded and to learn about other exciting developments in its pipeline, click here.

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