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Kost Capital general partner Bodil Sidén. Image credit: Kost Capital

The Week in AgriFoodTech: eGrocer Picnic bags $388m, GeoSalmo reels in $14m, Kost Capital launches foodtech fund

January 11, 2024

The year starts strong for eGrocery with Dutch startup Picnic landing a multi-million round. While the eGrocery sector has struggled throughout the last couple years, Picnic likely stands out to investors thanks to the free delivery, electric vehicles and circular economy aspects of its model.

Also this week: Finnish salmon farming company GeoSalmo raised funds, Denmark’s Kost Capital launched a new fund for agrifoodtech startups, and several C-suite execs made moves to new roles. Also, R.I.P. for RIP Foods.

Image credit: Picnic

Foodtech funding

🇳🇱 Dutch online grocer Picnic raises $388 mln from investors, Gates FoundationReuters

🇫🇷 Paris-based foodtech Standing Ovation receives €3 million to begin industrialization phase of non-animal caseinEU Startups

A rendering of a GeoSalmo facility. Image credit: GeoSalmo

Agtech funding

🇧🇪 M&G Investments Makes $75m Investment in BiobestGlobal AgInvesting

🇮🇸 GeoSalmo reels in €13.4 million investmentThe Fish Site

🇮🇹 Italy’s Mogu raises €11m to expand mycelium materials for interior design, fashion, and carsVegconomist

🇮🇹 SQIM closes €11m funding roundFinSMEs

🇧🇬 Bulgarian scale-up Nasekomo raises €8m series A to fuel robotized insect bioconversion expansionThe Cursive

🇬🇧 CGF co-leads £5.3m investment in FA Bio – CGF

🇮🇩 Indonesia agritech startup Semaai raises US$4.7 million in pre-Series A roundThe Business Times

🇨🇦 GeneNeer secures $1 million in seed funding to revolutionize crop seed innovation – Tall Grass Ventures

🇳🇱 Dutch-based cell-cultured leather company Qorium raises funds; appoints former Nike exec as new CEOSilicon Canals

Kost Capital general partner Bodil Sidén. Image credit: Kost Capital

Funds, grants & accelerators

🇩🇰 Danish Kost Capital launches €25 million fund to fuel foodtech innovations and bioeconomy growthArctic Startup

🇫🇮 Finnish foodtech startup Enifer awarded $13.2m grant to build mycoprotein factoryAgFunderNews

🇺🇸 Integrative Center for Alternative Meat and Protein to Launch at UC Davis Jan. 17 – UC Davis

People moves

🇺🇸 Perfect Day founders step away as company finalizes ~$90m pre-series E, installs interim CEOAgFunderNews

🇩🇪 Bayer makes key leadership changes to its Crop Science divisionCropLife

🇺🇸 Dean Banks appointed CEO of Indigo Ag and CEO-partner of Flagship Pioneering – PR Newswire

🇺🇸 Chef Robotics hires Somudro Gupta as head of software to scale AI in the physical world – PR Newswire

🇺🇸 John Frost joins ChobaniFood Business News

🇺🇸 Pivot Bio names Robert Houghton chief financial officer – Pivot Bio

Netled’s vertical farm. Image credit: Netled

Other news

🇪🇸 RIP Foods closes its doors after four years, “It was David vs Goliath”Vegconomist

🇺🇸 Cibus rises after it successfully regenerates wheat plant from single cellsSeeking Alpha

🇦🇺 Loam Bio, carbon technologies leader, launches new opportunities for the U.S. – Business Wire

🇺🇸 The future of alt meat is hybrid, says Mush Foods as it launches mycelium blends in US marketAgFunderNews

🇫🇮 Netled applies for corporate restructuringVertical Farm Daily

🇦🇹 🇨🇭 Honey… without bees? MeliBio rolls out plant-based alternative in Austria and Switzerland with ALDIAgFunderNews

🇺🇸 Meati Foods at Target? It’s part of the plant-based company’s growth strategyFood Dive

🇺🇸 FreshDirect restructures corporate division, cuts jobsGrocery Dive

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