Agrifoodtech funding this week was rather abysmal in terms of the number of deals announced. But there were plenty of new funds, including a $1.1 billion climate-focused one from VC Builders Vision. Meanwhile, Israeli startups and investors were all over the headlines this week in agrifoodtech.
Agtech funding
🇫🇷 Animal health startup Aviwell raises €9 million ($9.8 million). Elaia Partners and MFS Impact Investment Development of Boston led the seed round. (FinSMEs)
🇮🇱 Nitrofix secures $3.1 million seed accelerate production of green ammonia. Clean Energy Ventures led the round with participation from SOSV & others. (CTECH)
Foodtech funding
🇮🇱 Brevel closes $18.5 million seed round to expand its algae-based ingredient production platform. The round was led by NevaTeam Partners and supported by the European Union’s EIC Fund. (AFN)
🇩🇪 The Oater closes “seven-figure” pre-seed round to localize oat milk production. SodaStream executive Rüdiger Koppelmann led the round. (EU Startups)
M&A, IPOs & partnerships
🇺🇸 Trace Genomics partners with CHS to expand its soil insights platform to new geographies. More CHS growers will have access to the Trace insights tools integrated into the CHS system. (PR Newswire)
🇺🇸 Pepsi & Walmart team up to expand regenerative agriculture. The seven-year partnership aims to transition more than 2 million acres to regen ag practices by 2030. (Progressive Grocer)
🇮🇱 Steakholder Foods inks deal to bring its 3D bio-printing tech to the Gulf. The cultivated meat company also announced a $6 registered debt offering. (Yahoo Finance)
🇺🇸 Grassroots Carbon & Nestlé partner for regen ag/carbon sequestration projects. Nestlé’s investment will help ranchers transition to regenerative land practices. (iGrow News)
Funds, grants & accelerators
🇺🇸 Impact investor Builders Vision to invest $1.1 billion in new climate solutions for emerging markets including a new venture with Renewable Resource Group and Mitsui & Co. (Builders Vision)
🇮🇱 New VC firm FLORA Ventures makes $50 million first close of $80 million fund for agrifoodtech startups. The Sadot Kibbutzim co-op is a key anchor investor to the new fund. (AFN)
🇮🇹 Infrastrutture per la Crescita ESG fund to invest €15 million ($16.4 million) in Agricola Moderna. Funding will construct a vertical farm the IPC will lease to Agricola Moderna. (Vertical Farm Daily)
🇦🇺 Nourish Ingredients scores A$5.8 million ($3.9 million) in grants from the Australian government. Funding will go towards Nourish’s animal-like fats made via precision fermentation. (AFN)
🇮🇱 🇺🇸 Oshi (née Plantish) and The Better Meat Co. get $1 million grant to create mycoprotein salmon. The Binational Industrial Research and Development foundation provided the grant. (The Fish Site)
Other news
🇺🇸 Former Burger King chef launches plant-based food company. Michael Salem’s Recreate Foods specializes in “chef-made chicken alternatives.” (Vegconomist)
🇺🇸 Meati Foods has rolled out its mycelium-based cutlets and steaks at Whole Foods stores across the US. The move follows listings at Sprouts, Fresh Thyme and Meijer. (The Denver Post)
🇺🇸 ADM to expand its regenerative agriculture program to more than 2 million acres this year. The company’s goal is to reach 4 million acres by 2025. (Food Business News)
🇺🇸 Digital ag company Bushel expands its software platform with automated grain contract entry. The new feature promises to greatly reduce manual entries for farmers. (Crop Life)
🇺🇸 US retail sales of plant-based meat continue to decline, says Circana (formerly IRI). Sales fell 12.6% to $106.8 million in the five weeks ending July 2, 2023, with units down 19.8% year-over-year. (AFN)
🇺🇸 CEA company AppHarvest files for Chapter 11 bankruptcy protection. The company says it has funding to maintain business for the next 60 days for its greenhouse facilities in Kentucky. (AFN)
🇮🇱 Aleph Farms applies to Swiss food safety regulators for approval to sell its cultivated beef steaks. However, the first markets it will enter will be Singapore and Israel. (AFN)
🇪🇸 🇮🇹 🇵🇹 Struggling delivery giant Getir pulls out of Spain, Italy and Portugal. This follows last week’s news that the company was shutting down its UK warehouses. (TechCrunch)
🇸🇪 🇬🇧 Spirits company Absolut launches paper bottle. The company is conducting a three-month pilot with Tesco stores in the UK. (The Spirits Business)
Sponsored
International Fresh Produce Association launches year 3 of its produce accelerator