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Image credit: Jimi Biotech

The Week in AgriFoodTech: Bayer & Shell tackle rice farming emissions, Mosaic launches biologicals business

August 24, 2023

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.

The Jellatech team. Image credit: Jellatech

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)

CGI render of the interior of a commercial insect farm. Image credit: Entocycle/Bühler

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)

Image credit: Jimi Biotech

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.

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