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The RecycleSmart team. Image credit: RecycleSmart

The Week in AgriFoodTech: Textile impact company Syre raises $100m, Nestlé launches brand for GLP-1 consumers

May 23, 2024

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.

Nory CEO and founder Conor Sheridan. Image credit: Nory

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

The RecycleSmart team. Image credit: RecycleSmart

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

An Edible Garden indoor farm. Image credit: Edible Garden

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

🇺🇸 Agtonomy welcomes Jorge Heraud to its board of directors, bolstering its leadership in agricultural technology Agtonomy

Product lineup from Lactalis Canada. Image credit: Lactalis Canada

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

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