Between August holidays and an uncertain economy, funding rounds were few and far between this week. Nonetheless, CPG product-testing startup Highlight snagged funds from major agrifood corporates and grain-trading platform Bushel announced a new round. Elsewhere, Bayer and Shell are teaming up to address methane emissions from rice, Mosaic launched a biologicals arm, and a biotech company debuted cultivated deer antler.
Foodtech funding
🏴 Glasgow-based alt protein startup ENOUGH bags €40 million ($43.6 million) Series C. World Fund and CPT Capital led the round. (AFN)
🇺🇸 Product testing firm Highlight raises $18 million from Nestlé, Kraft Heinz. Highlight will use the new funds to expand its product testing process for CPG companies. (Food Dive)
Agtech funding
🇺🇸 Digital grain-trading platform Bushel raises $26 million to build out its software tool for agribusinesses and farmers. A new investor, private equity firm The Banc Funds Company, led the round. (AFN)
🇺🇸 B2B biotech company Jellatech secures $3.5 million to produce animal-free collagen and gelatin. Denmark-based byFounders led the oversubscribed seed round. (AFN)
🇳🇴 Remora Robotics lands €2.5 million ($2.7 million) to boost fish welfare in aquaculture. Grieg Kapital and Momentum led the round. (Tech.eu)
M&A, IPOs & partnerships
🇩🇪 🇺🇸 🇸🇬 Bayer, Shell & investment platform GenZero partner to address rice farming emissions. The collaboration will focus on scaling solutions that reduce methane emissions. (ESG Today)
🇨🇦 Soil insights startup Trace Genomics & distributor Taurus Agricultural Marketing team up. The two plan to bring soil-testing products to Canada. (PR Newswire)
🇺🇸 MSG Distributors acquires Boxed for undisclosed sum. The bulk-item delivery service filed for Chapter 11 bankruptcy protection earlier this year. (Grocery Dive)
🇬🇧 Food robotics startup Karakuri‘s assets sold for £350,000 ($443,000). Foodservice company Henny Penny purchased “three prototypes” as well as intellectual property rights. (UKTN)
🇬🇧 🇨🇭 Insect tech startup Entocycle & processing tech company Bühler Group team up. The two aim to scale and standardize black soldier fly (BSF) production. (AFN)
Funds, grants & accelerators
🇺🇸 California Department of Food and Agriculture unveils $11.67 million Urban Agriculture Grant Program. The grant aims to fuel urban agriculture development in California. (Vertical Farm Daily)
🇬🇧 Vertical Future announces Innovate UK-funded research project for indoor strawberries. The DEFRA-funded project aims to optimize the propagation environment of strawberry plants. (iGrow News)
Other news
🇨🇳 Jimi Biotech developes stem cell line for to produce cultivated deer antler. Deer antlers are of significant cultural and dietary importance in China. (Green Queen)
🇰🇪 E-commerce platform Twiga lays off 33% of staff, shutters in-house delivery. The company has also introduced a logistics marketplace that uses independent truckers for deliveries. (TechCrunch)
🇺🇸 Gotham Greens opens second Colorado greenhouse facility. The new location includes 140,000 square feet of growing space for leafy greens. (Produce Grower)
🇨🇦 Very Good Butchers founders unveil plans for “cultivated meat butcher shop.” The Better Butchers is slated to open in Vancouver, Canada “within the next two years.” (Vegconomist)
🇺🇸 Potash/phosphate mining company The Mosaic Company launches its Mosaic Biosciences platform. Technologies from Mosaic Biosciences will focus on biological-based crop protection.
