The Week in AgriFoodTech: Hardee Fresh grabs $56m, Upward Farms shuts down, Wine that tastes like climate change

The future of wine? Image credit: iStock

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.

Image credit: VICIO

Foodtech funding

๐Ÿ‡ธ๐Ÿ‡ฆ The Saudi Industrial Investment Group injects $70 million into Unibio International. Unibio will use the funds to grow its sustainable protein business. (Zawya)

๐Ÿ‡ช๐Ÿ‡ธ Digital-native burger brand VICIO grabs โ‚ฌ17 million ($18.5 million). IRIS Ventures led the round with companies from Barlon Capital. (EU Startups)

๐Ÿ‡บ๐Ÿ‡ธ Pickup-only grocer JackBe picks up $11.5 million. The round comes as pickup-only stores and companies struggle to maintain consumers. (Grocery Dive)

๐Ÿ‡ฉ๐Ÿ‡ช Magnotherm closes โ‚ฌ5 million ($5.5 million) seed round to mass produce “sustainable” refrigerators. The round was led by Extantia Capital, BMH Beteiligungs and others. (Tech.eu)

๐Ÿ‡บ๐Ÿ‡ธ 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)

๐Ÿ‡บ๐Ÿ‡ธ 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)

๐Ÿ‡ฎ๐Ÿ‡ณ 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)

๐Ÿ‡จ๐Ÿ‡ญ Impossible Materials secures SFr3.4 million ($3.8 million) seed round commercialize titanium dioxide replacement. Mission Possible Capital led the round. (AFN)

๐Ÿ‡ซ๐Ÿ‡ท ๐Ÿ‡ฎ๐Ÿ‡ฑย 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)

Image credit: Hardee Fresh

Agtech funding

๐Ÿ‡บ๐Ÿ‡ธ 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)

๐Ÿ‡ณ๐Ÿ‡ฟ 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)

๐Ÿ‡บ๐Ÿ‡ธ Babylon Micro-Farms bags $8 million in Series A for its remotely-managed vertical farming technology. Venture Southย led the round with participation fromย Virginia Venture Partners and others. (AFN)

๐Ÿ‡ฎ๐Ÿ‡ฉ 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)

๐Ÿ‡ฌ๐Ÿ‡ง Pastoral raises ยฃ205,000 ($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)

๐Ÿ‡จ๐Ÿ‡ญ 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

๐Ÿ‡บ๐Ÿ‡ธ 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)

๐Ÿ‡ฒ๐Ÿ‡ฆ VC firm Bidra Innovation Ventures scoops up $200m to back sustainable agriculture and energy startups. Investment and support comes from Mohammed VI Polytechnic Universityย (UM6P) and theย OCP Group. (AFN)

The future of wine? Image credit: iStock

Other news

๐Ÿ‡บ๐Ÿ‡ธ Upward Farms shutters vertical farm after 10 years. โ€œWe found that vertical farming is almost infinitely complex โ€“ as we tackled challenges, new ones emerged,โ€ the company said in a statement. (Just Food)

๐Ÿ‡บ๐Ÿ‡ธ 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)

๐Ÿ‡บ๐Ÿ‡ธ 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)

๐Ÿ‡ซ๐Ÿ‡ท 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)

๐ŸŒ 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)

๐Ÿ‡ป๐Ÿ‡บ 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)

๐Ÿ‡ฆ๐Ÿ‡บ Meal delivery marketplace CoLab, formerly ChefPrep, enters administration. Administrators at EY said theyโ€™ll take the startup through the sales process. (Startup Daily)

๐Ÿ‡บ๐Ÿ‡ธ 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)

Share this article
REPORTING ON THE EVOLUTION OF FOOD & AGRICULTURE
REPORTING ON THE EVOLUTION OF FOOD & AGRICULTURE
REPORTING ON THE EVOLUTION OF FOOD & AGRICULTURE
REPORTING ON THE EVOLUTION OF FOOD & AGRICULTURE
REPORTING ON THE EVOLUTION OF FOOD & AGRICULTURE
REPORTING ON THE EVOLUTION OF FOOD & AGRICULTURE