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The week in agrifoodtech: BigBasket bags $200m, Kodama’s forestry funding, more restaurant tech layoffs

December 22, 2022

Amid a slew of smaller funding announcements, India-based eGrocer BigBasket secured a $200 million mega-round this week. In agtech, deals from Grow Indigo and others were all about insect farming, forestry and capturing more carbon.

Foodtech funding

🇮🇳 Tata Sons-owned e-grocer BigBasket bags $200 million, eyes IPO by 2025. The raise bumps BigBasket’s valuation up to $3.2 billion. (Tech in Asia)

🇩🇪 Restaurant management software startup allO secures €1.4 million ($1.4 million) seed round. Keen Venture Partners led the round with participation from angel investors. (EU Startups)

🇵🇰 Food and bev company EatFood Pakistan raises $1 million pre-seed from “friends and family.” The company has also inked a deal with Delivery Hero. (Deal Street Asia)

Agtech funding

🇺🇸 Kodama Systems raises $6.6 million seed round to develop forest restoration tech. Breakthrough Energy Ventures and Congruent Ventures co-led the round. (PR Newswire)

🇮🇳 Grow Indigo lands $6 million to bring more carbon farming to India. Indigo AG, Mahyco and “high-net-worth individuals” participated. (Inc42)

🇦🇺 Environmental, social and governance (ESG) software platform FairSupply bags $6.3 million Series A. The round led by Australian VC AirTree. (Startup Daily)

🇮🇱 FreezeM snags €6.3 million from the European Innovation Council. Funds will enable FreezeM to further develop its insect farming technology. (The Jerusalem Post)

Funds, grants & accelerators

🇺🇸 Crop One receives $1.5M grant for new plant-based protein research via CEA. The cost-matching grant is from the Foundation for Food & Agriculture Research (FFAR). (Vertical Farm Daily)

M&A, IPOs & partnerships

🇳🇱 🇬🇧 Just Eat Takeaway partners with supermarket chain Co-op. The deal will offer on-demand grocery delivery in “under 30 minutes” across Britain. (Silicon Canals)

Other news

🇦🇺 Grocery delivery startup YourGrocer calls it quits. The closure comes jut a few weeks after the company tried to raise $1 million via crowdfunding. (Startup Daily)

🇸🇪 IKEA unveils plant-based food hall concept from parent company Ingka Group. The furniture retail giant will gradually overhaul its in-store cafes to include more alt-meat items. (Green Queen)

🇺🇸 Soil health company Humic Growth Solutions rebrands HGS BioScience. The company has also appointed a new CEO. (CropLife)

🇺🇸 Restaurant ordering software company ChowNow lays off 10% of its staff. The company cited slowing demand for restaurant delivery as the key reason. (Restaurant Business Online)

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