This week, Syre, a “textile impact company” started by Vargas and H&M Group raised a massive Series A to fund its forthcoming textile-to-textile recycling plants. In foodtech, UK-based Nory announced new capital to bring more AI into the hospitality experience, and indoor farming company AgroUrbana raised money to expand its indoor farming facility.
Plus: more layoffs at Deere and a new brand from Nestlé targeting consumers on GLP-1 drugs.
Foodtech funding
🇫🇮 Biomass fermentation space heats up as Enifer raises $39m to scale mycoprotein plant in Finland AgFunderNews
🇬🇧 London-based Nory raises €14.7 million Series A to spearhead AI across the hospitality industry EU Startups
🇩🇰 Company [FÆRM] that creates vegan cheese with same method as dairy receives €1.3M funding Plant Based News
🇵🇪 Peruvian Veef Secures $320K in First Funding Round, Aims for Latin American Expansion Vegconomist
Agtech & climate funding
🇸🇪 Syre raises $100 million Series A – shortlists Vietnam and Iberia for first gigascale plants PR Newswire
🇺🇸 Armed with $100m in funding, Dave Friedberg unveils ‘boosted breeding’ tech at Ohalo in ‘holy shit’ moment for crop breeders AgFunderNews
🇺🇸 Cooperative Ventures leads Traction Ag’s $10 million funding to advance farm accounting technology Crop Life
🇨🇱 AgroUrbana closes $6M fund to expand current facility by five-fold Vertical Farm Daily
🇬🇧 Climate fintech startup Ekko raises £2m UKTN
🇦🇺 Waste reduction startup RecycleSmart raises $1.15 million in crowdfunding campaign Startup Daily
M&A, IPOs and partnerships
🇺🇸 Edible Garden announces pricing of $6.0 million public offering YahooFinance
🇰🇪 Fresh Del Monte announces partnership to produce biofertilizers from fruit residues, launching innovative plant in Kenya Business Wire
🇮🇱 Pluri and Wilk collaborate to develop human breast milk-derived food production on a commercial scale Protein Production Technology
🇺🇸 ThroughPut Inc. and Inteligistics Form Strategic Alliance iGrow News
Funds, grants & accelerators
🇬🇧 Innovation agency launches £4.6m fund for aquaculture projects UKTN
🇬🇧 Regen ag investment pioneer SLM posts 40% AUM growth driven by US institutional interest, reveals first carbon assessment AgFunderNews
People moves
🇳🇱 Meatable appoints beef industry veteran as CEO Food Dive
Other news
🇨🇭 Nestlé debuts new brand for consumers using GLP-1 drugs, managing weight Food Dive
🇸🇬 ScaleUp Bio laboratory and facility spaces now open for global food-tech customers New Protein
🇨🇦 The world’s largest dairy company just launched a plant-based milk brand Green Queen
🇮🇱 Wanda Fish Develops Cultivated Bluefin Tuna Toro Sashimi, Plans to File Regulatory Dossiers in 2025 Green Queen
🇬🇧 Vital Meat seeks approval to commercialise cultivated chicken in the UK Vegconomist
🇺🇸 Deere lays off nearly 200 additional Iowa workers as tractor giant slows production Agriculture Dive
🇨🇦 Flood of cheap Chinese pea protein drove Merit Functional Foods to receivership, says ex-CEO AgFunderNews
🇮🇱 PoLoPo is seeking U.S. regulatory approval for its SUPERAA platform Potato Business
GUEST ARTICLE Scaling up foodtech, the investor’s take: ‘The real potential of the space has gotten muddled’