Image credit: Sollum Technologies

The Week in Agrifoodtech: Sollum Technologies nabs $30m; phantom carbon credits & food delivery shutdowns

January 19, 2023

Sollum Technologies raised the largest funding round this week, for its programmable LED lighting for greenhouses. Multus Biotechnology also secured funding, while The Guardian and others unveiled an investigation into a nonprofit for what it calls “phantom carbon credits.”


Agtech funding

🇨🇦 Sollum Technologies bags $30 million for its programmable LED lighting tech for greenhouses. The raise includes a $25 million round from Idealist Capital and $5 million from Fondaction. (Greenhouse Management)

🇺🇸 Climate biotech startup Living Carbon has secured a $21 million Series A raise for its “photosynthesis-enhanced trees.” Temasek led the round with participation from Lowercarbon Capital and others. (AFN)

🇬🇧 🇯🇵 Eagle Genomics raises undisclosed investment from Japan’s OMRON Ventures. Funds will support the ongoing development of Eagle Genomics’ life sciences data platform. (Business Weekly)

The Velada team. Image credit: Velada

Foodtech funding

🇺🇸 🇮🇱 Food freshness monitoring startup Evigence secures $18 million Series B round. Cleveland Avenue led the round with participation from previous investors Planet Capital and Landa Ventures. (AFN)

🇨🇦 Portage leads $10 million for wholesale foodservice provider Notch. Previously known as Chefhero, Notch offers software to help restaurants digitize the back of house. (PR Newswire)

🇺🇸 Zitti raises $3.5 million seed round to simplify digital transactions between restaurants and their suppliers. Oceans Ventures and Serena Ventures co-led the round.

🇬🇧 Multus Biotechnology secures $9.5m Series A to build production plant for growth media. Funding includes a $2.5 million grant from Innovate UK through the EIC Accelerator. (The Spoon)

🇨🇳 Cultivated meat company Jimi Biotech closes ¥20 million ($3 million) round for hiring and R&D. Plum Ventures and Fanqie Capital led the round. (Green Queen)

🇪🇸 Velada cooks up €1 million ($1 million) for its curated restaurant guide and booking app. Private investors including IBM‘s Jesús Mantas and Medicxi Ventures co-founder Francesco De Rubertis participated. (EU Startups)

The Live Green Co team. Image credit: The Live Green Co

M&A, IPOs & partnerships

🇺🇸 🌍 Switch Bioworks, launches a $1.5 million partnership with King Philanthropies. The two will develop customized biofertilizers for smallholder farmers in Africa. (Switch Bioworks)

Other news

🇺🇸 🇨🇴 “Instant” delivery startup Jokr ends operations in Colombia. The shutdown occurs just two months after the company ended operations in Chile. (LatamList)

🇳🇱 🇬🇧 Just Eat Takeaway partners with UK supermarket chain Sainsbury’s. The announcement comes just a few weeks after the delivery giant struck a partnership with food retailer Co-op. (Silicon Canals)

🇺🇸 Freshly halts direct-to-consumer meal delivery business. The service cited high inflation and economic uncertainty as some of the reasons for closing down. (Food Business News)

🇦🇺 Our Cow buys brand and assets of recently shuttered grocery delivery startup Voly. In a bid to widen its consumer base, Our Cow bought the database, app and brand. (Startup Daily)

🇨🇱 The Live Green Co. launches precision fermentation division. The company will deploy an artificial intelligence platform to find ingredients that can replace animal-based proteins. (Food Navigator)

🇺🇸 Nest co-founder Matt Rogers’ new startup launches first product. Mill’s circular economy trashcan turns consumer waste scraps into chicken feed for farmers. (TechCrunch)

🇫🇷 Danone says it plans to reduce methane emissions by 30% by 2030. The company says it will reach this goal by working with farmers to implement regenerative agriculture practices in its dairy supply chain. (Food Dive)

🌎 Investigation: the Guardian, Die Zeit and SourceMaterial say 90% of Verra‘s rainforest carbon offsets are “phantom credits” & “worthless.” Verra is disputing the investigation. (The Guardian)

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