Starship’s delivery bots move into new markets, Source.ag aims to make greenhouses smarter, and cultivated meat arrives at Singapore’s hawker stalls.
Vertical farming and alt-protein saw sizable financings this week, with companies like GrowUp Farms, Novameat, and Wildtype closing significant rounds.
The firm has made the first close of its $15 million maiden fund, which it claims is the first to exclusively back Asia Pacific alt-protein startups.
Ag marketplace Agrostar scored $70 million while delivery and transport app Ola bagged $139 million as Indian startups led in the funding stakes this week.
RWDC raised nearly $100 million to advance its sustainable bioplastics; while milk alternative startups New Culture and Helaina both scored funding.
“In seeking Series A investors, we were intentional about collaborating with experienced food industry professionals,” says CEO Matt Gibson.
Monarch Tractor will scale its manufacturing capabilities; while Bayer and Microsoft said they’ll build “the go-forward infrastructure” for digital ag.
The Tel Aviv-based startup “feeds microorganisms instead of cows,” allowing it to avoid many of the ecological pitfalls of traditional dairy cattle production, it says.
The Shanghai-based firm has also signed Adisseo, Temasek, and UAE government-linked investor ADQ as LPs for its new China-focused fund.
The Asia Sustainable Foods Platform will co-invest $22.2 million alongside Singapore’s national R&D agency into the new Food Tech Innovation Center.
TurtleTree said it will use the capital to move closer towards the commercial launch of its first cell-based milk protein products.
It’ll use the Series A capital to hire talent and build an in-house facility to create larger quantities of its ingredients for food manufacturers.
In other news, Carbon Robotics, Plantible, and Olio raised big rounds.
Wendy’s is working with Reef to place kitchens in parking lots, while an ingredients marketplace serves up $72 million in funding.
The Ginkgo Bioworks spinout will use the proceeds from the BlackRock and Ontario Teachers’-led Series B round for R&D, commercialization, and hiring.
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“In industries like aerospace and manufacturing, Singapore provides vital components for other countries. There’s no reason we can’t do the same for alt-proteins.”
Agrifoodtech investor PeakBridge has closed its Growth Fund II at $187m in partnership with Edmond de Rothschild Private Equity, bringing its total AUM (assets under management) to more than $250m.
Plus: more pesticide alternatives enter the agtech arena.
Also: farm labor management platform Seso raises $26 million, L’Oreal backs sustainable pigment producer.
