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Zepto founders Aadit Palicha and Kaivalya Vohra. Image credit: Zepto

The Week in AgriFoodTech: quick-grocery app Zepto bags $665m, Lululemon backs $66m round for recycled plastics

June 27, 2024

The eGrocery category may be down but it’s not out, and certainly not in India, where quick-commerce app Zepto just scored a massive funding round. Turkey’s Getir, also an eGrocery platform, also landed a mega round, while over in Australia, a recycled plastics startup bagged AUD $100 million ($66 million).

Outside the funding realm, Denmark has introduced a new tax on carbon emissions for livestock farmers, iFood has launched a digital bank for restaurants in Latin America, and more US lawmakers are going to battle with cultivated meat.

Zepto founders Aadit Palicha and Kaivalya Vohra. Image credit: Zepto

Foodtech funding

🇮🇳 Zepto, a 10-minute delivery app, raises $665m at $3.6B valuation TechCrunch

🇹🇷 Turkish food delivery giant Getir raises $250m and restructures into two businesses

🇺🇸 Telenutrition platform Foodsmart takes $200m from The Rise Fund

🇦🇺 Citrus juice startup Naked Rivals squeezes $3 million raise Startup Daily

🇸🇬 Cellivate Technologies wins $3.3m on business reality TV show to reduce animal slaughter using cells Cultivated X

🇸🇬 Ai Palette Raises Total of $7.7M+ with Latest $1.45M Series A1 Extension from InnoVen Capital Ai Palette [Disclosure, AgFunderNews’ parent co AgFunder is an investor in Ai Palette]

🇿🇦 South Africa’s Immobazyme raises $1.3m to boost production of precision fermentation-derived proteins Vegconomist

Lululemon and Samsara Eco have introduced their first product made from enzymatically recycled polyester. Image credit: Samsara Eco

Agtech & biomaterials funding

🇦🇺 Lululemon backs recycled plastics clothing startup in $100 million Series A+ Startup Daily

🇮🇳 Sid’s Farm raises $10 m in Series A round bl-premium-article-image Hindu Business Line

🇧🇷 Cleantech Kilimo raises $7.5m in Series A round Latamlist

🇺🇸 Foray Bioscience Raises $3m to protect and restore natural ecosystems with biomanufacturing Business Wire

🇭🇺 Scoutlabs lands $2m seed round for digital insect monitoring Scoutlabs LinkedIn

🇮🇳 Novo Holdings invests in Indian agritech firm AgNext Technologies Deal Street Asia

A New Holland tractor outfitted with Bluewhite’s autonomous technology. Image credit: New Holland

M&A, IPOs & partnerships

🇺🇸 SoundHound AI acquires ordering platform Allset Restaurant Dive

🇺🇸 Microsoft partners with Indigo Ag to purchase carbon credits Feed & Grain

🇺🇸 🇳🇿 Western Growers & Wharf42 initiative Platform 10 launches global grower trial network to speed up adoption of biologicals AgFunderNews

🇺🇸 🇮🇱 Specialty crop equipment leader CNH partners with Bluewhite to bring autonomous tech to orchards, vineyards AgFunderNews

Funds, grants & accelerators

🇺🇸 AgFunder assumes management of Blue Horizon’s $100m growth fund AgFunder

🇺🇸 NIFA Invests $70M in Visionary Sustainable Agricultural Research NIFA

🇨🇦 Canada Strengthens Plant-Based Sector With $11M Federal Boost for Pulse Production Vegconomist

Image credit: iFood

People moves

🇺🇸 Brightseed appoints new senior vice president of bioactives Nutritional Outlook

🇺🇸 Local Bounti chief financial officer Kathleen Valiasek promoted to president and CFO PR Newswire

🇫🇷 Agronutris appoints aquaculture business director The Fish Site

Other news

🇺🇸 Ohio Rep. introduces bill to ban federal support for cultivated meat, citing threats to health and farmers Vegconomist

🇧🇷 iFood launches digital bank for restaurants, iFood Pago Latamlist

🇺🇸 Ginkgo job cuts to hit at least 35% of workforce; as many as 400 jobs to be cut Biz Journals

🇨🇭 Nestlé health science launches comprehensive GLP-1 nutrition support platform PR Newswire

🇩🇰 Denmark to charge farmers €100 a cow in first carbon tax on agriculture Financial Times

🇦🇺 BeanstalkAgTech is building a $10 million venture studio to back nearly 100 startups focused on drought resilience Startup Daily

🇺🇸 Agco plans significant layoffs, citing ‘weakening demand’ Agriculture Dive

🇺🇸 TurtleTree and Strive to Launch Health-Focused Beverages Powered by Animal-Free Lactoferrin Vegconomist

🇺🇸 Benson Hill receives indication of interest for buyout from investor group Market Watch

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