Since the start of the year six agtech SPAC deals have been announced – most involving indoor farming or biotech, and all valued at over $1 billion.
Releaf recently raised $4.2 million to build palm oil processing facilities across Nigeria that it claims can boost the sector’s productivity 200x.
Regenerative ag topped the headlines over the past seven days as agrifood colossi Cargill, Heineken & Nestlé each announced new initiatives.
The impact investor aims to prove the commercial “climate resilience” opportunity in African agtech ventures like Kenya’s SunCulture and Nigeria’s Tomato Jos.
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.
Meat for human and animal consumption is responsible for 57% of food production’s emissions – with beef alone making up 25%.
While mega-deals involving seven Chinese e-Grocery startups accounted for $3.8 billion of H1’s figure, funding to other countries is still on track to outpace 2020 levels, according to the latest data from AgFunder.
In other news, Carbon Robotics, Plantible, and Olio raised big rounds.
The Nigerian startup’s goal is two-fold: to offer affordable meat alternatives to African consumers, and to match local taste and texture preferences.
The Kenyan startup is hoping its inventory management app can digitalize supply chains and mitigate financing challenges for food businesses across Africa.
They’re hoping the insights they derive will revolutionize outdoor production, too.
The Microsoft co-founder commented on the acquisitions for the first time since he and wife Melinda were revealed as the top private farmland owners in the US earlier this year.
LeapFrog primarily invests in African and Asian companies, with a focus on improving access to financial services and healthcare for low-income consumers.
The UK-based network for smallholders secured funding from new and existing investors including AgFunder, Octopus Ventures, and Rabo Frontier Ventures.
Provivi will use the funds to sell its pheremone-based pest control products to smallholder farmers in Kenya, Bangladesh, and India at cost.
With this aqui-hire, DeHaat – which serves over 380,000 farmers across India – will be able to add financial services for farmers to its platform.
Gro Intelligence CEO Sara Menker thinks that Covid-19’s continuing effects will see a ramping up of food protectionism this year – while climate change will also take a toll.
Governments should recognize the risks of foodborne disease; but to ensure food security, they must avoid excessive restrictions on moving goods and people.
The Lagos-based startup seeks to bring some formality to Africa’s extensive, informal agrifood supply chain, by providing stakeholders with digital tools and mentoring.
Expanding the cold chain across the African continent is both necessary and hard.
