Avrio Capital, one of the first investment firms to focus specifically on food and agriculture, has re-branded into a new investment firm called Rio Investment Partners, raising $77.5 million in the first close of a $150 million fund.
The funds will be primarily used to advance Food-X Urban Delivery, SPUD’s shared e-commerce grocery delivery platform that allows multiple third-party retailer partners to provide grocery delivery to customers.
Canadian vertical farming systems developer Inno-3B has completed its first seed round of financing at nearly C$6 million ($4.45m).
Located in Quebec and Ontario, the company provides turnkey vertical farming systems for a variety of customers, from researchers, biotechnologists, and small-scale farmers, to regional and multinational producers.
Farmers Business Network makes an acquisition in Canada while Bayer sells assets to get ready for the big takeover, plus more in this week's brief.
This is Avrio Capital's third agtech fund and will revisit some subsectors of agtech which co-founder Aki Georgacacos believes have been overheated in recent months.
Greg Hough is on his way to the Ritz-Carlton hotel in Montreal, Canada, delivering another order of Urban Barns’ lettuce produced in its Cubic Farming system. The lettuce was harvested only three hours ago.
Editors Note: Joseph Regan is a managing partner at Bioenterprise Capital, a Canadian VC firm investing in agriculture technology. He was recently a panelist on Making the Case for AgTech in the Portfolio at the Global AgInvesting Conference in New York.
This week, we’re featuring the fall news letter from our friends at Investeco.
The agricultural sector is going through a time of unprecedented innovation and change, brought about by a growing awareness of issues relating to the environment, health and resource efficiency.