The Week in Agrifoodtech: EzCater nets $100m, McCain bets $55m & Good Meat gets green light
Catering startup ezCater kicked its valuation over $1 billion, alt-protein funding proliferated, and José Andrés started championing cultivated meat.
Catering startup ezCater kicked its valuation over $1 billion, alt-protein funding proliferated, and José Andrés started championing cultivated meat.
Ho Ren Hua also announced the launch of Thai Wah Ventures, which will invest in startups working across agritech, supply chain, bioplastics, and novel ingredients.
RWDC raised nearly $100 million to advance its sustainable bioplastics; while milk alternative startups New Culture and Helaina both scored funding.
Global agrifoodtech funding is still dominated by the US – but a few massive deals in China, India, and other countries are stealing a greater share.
In a sign of the times, an agrifood exec was invited to deliver the opening keynote at Singapore’s annual tech festival.
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.
US on-demand delivery service DoorDash is set to acquire Finnish startup Wolt while, multiple companies around the world raised funds for their food-waste-fighting technologies.
Swedish company Nick’s grabbed the biggest funding round of the week, while India’s cloud kitchen market grew and Twiga Foods got $50 million to expand across Africa.
The top three destination countries for agrifoodtech investment remained the same in H1 2021 – but there were a few surprises further down the list.
Biomilq, Cometeer, and WayCool were among the startups raising big-ticket rounds this week.
Global Incubator Programme – Gateway to Asia will help eight UK agrifood startups develop a roadmap to remotely establish their in-market presence in the region.
Indonesia’s TaniHub was the top-funded startup in the category according to AgFunder data, raising $66 million in May.
Rebel Foods scored capital from the likes of Qatar Investment Authority and Coatue as it preps for an IPO, while ReshaMandi raised $30 million.
Funds launched by Five Seasons Ventures, Eatable Adventures, and SP Ventures raised well over $300 million for early and growth-stage agrifoodtech bets.
Elsewhere, AFN examined data which suggests that agriculture is far from pulling its weight when it comes to carbon credits generation.
Regenerative ag topped the headlines over the past seven days as agrifood colossi Cargill, Heineken & Nestlé each announced new initiatives.
Spiber is valued at $1.22 billion following this latest round – while SpotOn hit a post-money valuation of $3.15 billion, according to reports.
The biggest headlines in agtech and foodtech over the past seven days.
Two of the past week’s biggest stories were AFN exclusives from the ag carbon market, both involving Microsoft.
Wendy’s is working with Reef to place kitchens in parking lots, while an ingredients marketplace serves up $72 million in funding.