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)
Smoke & mirrors, not worth the extra cost: 50 US farmers speak out on carbon markets