Vertical farming saw good and bad news this week, as Hardee Fresh raised new funds, Upward Farms ceased operations and Kalera filed for Chapter 11 bankruptcy protection. Elsewhere, digital-first burger delivery service VICIO secured new capital to expand in Europe, and wine experts and climate scientists unveiled an experimental beverage we’d rather not taste.
Foodtech funding
🇸🇦 The Saudi Industrial Investment Group injects $70 million into Unibio International. Unibio will use the funds to grow its sustainable protein business. (Zawya)
🇪🇸 Digital-native burger brand VICIO grabs €17 million ($18.5 million). IRIS Ventures led the round with companies from Barlon Capital. (EU Startups)
🇺🇸 Pickup-only grocer JackBe picks up $11.5 million. The round comes as pickup-only stores and companies struggle to maintain consumers. (Grocery Dive)
🇩🇪 Magnotherm closes €5 million ($5.5 million) seed round to mass produce “sustainable” refrigerators. The round was led by Extantia Capital, BMH Beteiligungs and others. (Tech.eu)
🇺🇸 Aqua Cultured Foods reels in $5.5 million seed round led by Stray Dog Capital. The startup will expand its low-cost production platform for whole cuts of fungi-based seafood. (AFN)
🇺🇸 Flyby Robotics lands $4 million round led by MaC Venture Capital. The round will kickstart a drone delivery pilot program with foodservice brands. (Restaurant Dive)
🇮🇳 Biotech startup Zero Cow Factory raises $4 million seed round to make animal-free casein at scale. Green Frontier Capital, GVFL and pi Ventures led the round. (Vegconomist)
🇨🇭 Impossible Materials secures SFr3.4 million ($3.8 million) seed round commercialize titanium dioxide replacement. Mission Possible Capital led the round. (AFN)
🇫🇷 🇮🇱 Danone invests $2 million into cultured breastmilk startup Wilk. The investment, part of a $3.5 million fundraise, gives Danone a 2% stake in Wilk. (Green Queen)
Agtech funding
🇺🇸 Hardee Fresh secures $56 million to build and run a 340,000 square-foot vertical farm. X-Caliber Rural Capital led the bridge round. (Vertical Farm Daily)
🇳🇿 Halter raises NZD 85 million $53.3 million for solar-powered livestock management. Bessemer Venture Partners led the Series C round with participation from Blackbird Ventures and others. (AVCJ)
🇺🇸 Babylon Micro-Farms bags $8 million in Series A for its remotely-managed vertical farming technology. Venture South led the round with participation from Virginia Venture Partners and others. (AFN)
🇮🇩 Fresh Factory raises $4.1 million to address cold chain logistics. SBI Ven Capital led the round through its joint fund with Kyobo Securities and NTUitive. (Tech in Asia)
🇬🇧 Pastoral raises £205,000 ($255,000) pre-seed round for precision livestock management. SFC Capital led the round, which Pastoral will use to expand in North America and elsewhere. (UKTN)
🇨🇭 Produce-tech startup Agrinorm secures 7-digit funding. QBIT Capital led the round, supported by the renowned Swiss ICT Investor Club (SICTIC). (Fresh Plaza)
Funds, grants & accelerators
🇺🇸 S2G Ventures has closed a $300 million Special Opportunities fund. The fund will provide flexible financing for capital-intensive, asset-oriented industries including agriculture, energy and oceans. (AFN)
🇲🇦 VC firm Bidra Innovation Ventures scoops up $200m to back sustainable agriculture and energy startups. Investment and support comes from Mohammed VI Polytechnic University (UM6P) and the OCP Group. (AFN)
Other news
🇺🇸 Upward Farms shutters vertical farm after 10 years. “We found that vertical farming is almost infinitely complex – as we tackled challenges, new ones emerged,” the company said in a statement. (Just Food)
🇺🇸 Eat Just launches “Brunch for Everyone” initiative in Tennessee. These drag brunches will raise funds to help the LGBTQ+ community fight recent legislation trying to ban drag in public. (VegNews)
🇺🇸 Online food retailer Boxed files for Chapter 11 bankruptcy protection. The company will wind down its retail operations over the next several weeks. (Grocery Dive)
🇫🇷 Wine experts and climate scientists develop “experimental” wine to underscore climate change’s impact. Bordeaux 2050 is “dense, less refined, less elegant, with a dry and tannic finish.” (Green Nudges)
🌍 Trophic rewilding can expand natural climate solutions, says new report. The research calls the restoration of wild animals and their ecosystems key component for fighting climate change. (Nature Climate Change)
🇻🇺 Vanuatu wins big climate victory. The tiny island nation convinced the UN to urge the world’s highest court to rule on whether polluting nations must address climate change. (Grist)
🇦🇺 Meal delivery marketplace CoLab, formerly ChefPrep, enters administration. Administrators at EY said they’ll take the startup through the sales process. (Startup Daily)
🇺🇸 Kalera files for Chapter 11 protection. The company, which also fired its CEO Jim Leighton, will operate its business as “debtor-in-possession.” (Vertical Farm Daily)
