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Bluu Seafood's cultivated fish. Image credit: Bluu Seafood

The Week in AgriFoodTech: Everytable lands $25m, eFishery reels in $20m, Joyful Ventures’ alt-protein fund

June 29, 2023

This week, prepared meals service Everytable raised new funding along with cultivated fish startup Bluu Seafood and aquatech company eFishery. Outside of funding, Nextbite is facing a lawsuit over its May layoffs and Joyful Ventures launched a new alt-protein fund.

Bluu Seafood’s cultivated fish. Image credit: Bluu Seafood

 

Foodtech funding

🇺🇸 Everytable raises $25 million series C-2 for meal delivery service. Dohmen Company Foundation’s Impact Investment Fund led the round. (Restaurant Dive)

🇩🇪 Bluu Seafood secures €16 million ($17.5 million) Series A led by Sparkfood & LBBW. Bluu Seafood will use the funds to scale up its cultivated fish production. (Vegconomist)

🇺🇸 Bio-manufacturing startup Hyfé raises $9 million seed round led by Synthesis Capital. Funds will go to advancing commercial partnerships, increasing headcount, and progressing towards pilot scale technology demonstration. (AFN)

eFishery
Gibran Huzaifah, co-founder and CEO, eFishery. Image credit: eFishery

Agtech funding

🇮🇩 🇦🇪 Abu Dhabi Sovereign Wealth Fund ADQ invests $20 million into aquatech startup eFishery. The investment is part of eFishery’s Series D round. (Deal Street Asia)

🇪🇪 eAgronom raises €5 million ($5.4 million) to expand its carbon program in Europe and Africa. Icos Capital, Soulmates Ventures and others participated in the round.

🇦🇺 Family office Tayside Australia invests in automated indoor farming startup Stacked Farm. The investment brings Stacked’s total capital to AUD $98 million ($65 million). (Fruitnet)

AgBiome team in office lobby
Image credit: AgBiome

M&A, IPOs & partnerships

🇨🇳 Food delivery giant Meituan buys AI startup Light Year for $281 million. The buyout comes as Light Year’s founder steps down from his role at the food delivery company. (SCMP)

🇺🇸 🇮🇹 Microbial discovery startup AgBiome partners with chemicals giant Lamberti. The two will develop biological crop products for agriculture. (AgBiome)

🇺🇸 PE firm Sandton Capital Partners buys vertical farm seed breeder Vindara. Sandton acquired the company for an undisclosed sum from troubled vertical farm company Kalera. (Vertical Farm Daily)

🇸🇬 🇳🇱 B2B protein company Sophie’s Bionutrients teams with Danish Technological Institute. The two are producing alt-ice cream made with chlorella. (PR Newswire)

An AI-generated version of the Innova Memphis vision: Farmer and robot working together on the farm of the future. Image credit: Innova Memphis

Funds, grants & accelerators

🇮🇳 Omnivore makes $150 million first close of its third fund. It will invest in startups developing breakthrough technologies for agriculture, food, climate, and the rural economy. (AFN)

🇺🇸 Innova Memphis announces $40 million first close of its Innova Ag Innovation Fund VI. The fund will invest in pre-seed, seed and early-stage startups addressing the evolution of agriculture. (AFN)

🇺🇸 New alt-protein firm Joyful Ventures raises $23 million. The fund will invest in early-stage startups working on “sustainable” and “regenerative” protein. (FinSMEs)

Mushrooms from Smallhold’s indoor farm. Image credit: Smallhold

Other news

🇮🇩 COP26 plan to end deforestation is “well off track,” says Global Forest Watch. However, a reduction in forest loss in Indonesia provides some hope. (BBC)

🇺🇸 Nextbite & Ordermark facing class-action lawsuit over layoffs. A former Nextbite alleges the layoffs violate the Worker Adjustment and Retraining Notification Act (WARN Act). (Restaurant Dive)

🇺🇸 Synonym Bio launches “techno-economic analysis” for fermentation. Scaler, the free, interactive tool, aims to help companies project costs at commercial scale. (Synonym Bio)

🇺🇸 Liberation Labs breaks ground on its first commercial-scale biomanufacturing facility in Richmond, IN. The $115 million facility will have 600,000 liters of capacity and is set to become operational by the end of 2024. (Inside Indiana Business)

🇬🇧 Molecular farming startup Moolec claims to have produced soybeans containing up to 26.6% pork protein. The company is targeting the meat alternatives market with ingredients from yellow pea and soy crops modified to produce bovine and porcine proteins. (The Spoon)

🇩🇪 Bayer AG’s genetically modified “short” corn receives USDA safety approval. The “Smart Corn System” plants are 30% smaller with the same yields. (Feed & Grain)

🇺🇸 National Milk Producers Federation (NMPF) urges FDA to crack down on ‘animal-free dairy milk’ labels. The NMPF says products from brands such as Bored Cow should instead be called ‘synthetic whey beverages.’ (AFN)

🇬🇧 UK gov.-backed Voluntary Carbon Markets Integrity Initiative (VCMI) launches the Claims Code of Practice. The new code aims to help investors examine corporate carbon claims. (Reuters)

🇳🇱 Honest AgTech declares bankruptcy after liquidity shortage. The company was known for its autonomous driving horticulture robot and is looking into a relaunch. (Horti Daiy)

🇺🇸 Indoor mushroom farmer Smallhold receives Certified B Corporation status. The company grows specialty mushrooms in high-tech indoor farms in Los Angeles, Brooklyn and Austin. (Business Wire)

🇬🇧 🇸🇪 Biotech giant AstraZeneca announces $400 million investment in reforestation and biodiversity. The company aims to plant 200 million trees across six continents by 2030. (AstraZeneca)

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