This week, foodtech startup Trigo landed funds for its automated checkout system that lets shoppers purchase goods without waiting for a cashier. The Dutch government is allocating new funds to cultivated meat initiatives, and Bill Gates and others have a new venture for decarbonizing rice production in Asia.
Foodtech funding
🇮🇱 Trigo bags $100 million round co-led by Temasek and 83North. Trigo’s technology allows customers to shop without waiting for a cashier to ring up items. (AFN)
🇪🇸 Plant-based meat startup Heura cooks up $20 million in bridge funding. Backers include athletes Ricky Rubio, Sergi Busquets, Sergi Roberto and David Broncano, as well as Unovis Capital. (Green Queen)
🇺🇸 RoboBurger secures $10 million for autonomous “robot chef in a box.” The company raised seed funding via a partnership with private equity firm Promethean Investments. (Restaurant Dive)
🇺🇸 GenoPalate lands $5.6 million for DNA-based nutrition products. This financing is the first part of a $10.6 million equity round, and will go towards to grow product offerings. (WisconsinInno)
🇮🇱 Target Global leads $5.2 million seed round for cultivated meat startup Forsea. The latter says its “non-GMO organoid platform” is simpler and more cost effective than other cultivated meat processes. (AgReads)
🇮🇩 Unilever Ventures leads $6m round for vitamin brand Youvit. Existing investor DSG Consumer Partners also participated the round along with several undisclosed new backers. (Tech in Asia)
🇪🇸 Ouvo closes €180,000 ($180,000) pre-seed round. Funding will go towards finishing product development ahead of a market launch in 2023. (Ouvo)
Agtech funding
🇺🇸 Local Bounti rakes in $23.3 million PIPE investment. The indoor farming company will use the funding to scale up its proprietary technology and increase crop output. (Food Navigator)
🇺🇸 Crop health startup AgroSpheres raises $22 million Series B to accelerate commercialization. Lewis & Clark AgriFood and Ospraie Ag Science led the round. (FinSMES)
🇺🇸 Agroforestry platform Propagate has raises $10 million Series A round. The Nest led the round with participation from AgFunder, the TELUS Pollinator Fund, and others. (AFN) [Disclosure: AFN’s parent company is AgFunder]
🇧🇩 Agroshift raises $1.8 million for its agribusiness marketplace. Shorooq Partners and Anchorless Bangladesh co-led the round, which is Bangladesh’s largest-ever pre-seed round. (Deal Street Asia)
🇪🇸 Ekonoke secures €4.2 million ($4.2 million) for growing hops indoors. Agricultural innovation “powerhouse” of Corporación Hijos de Rivera, Cosecha de Galicia led the round. (FoodBev Media)
Funds, grants & accelerators
🇳🇱 Dutch government to allocate €60 million towards cellular agriculture research and development. An additional €25 million in co-financing is expected. (Cellulaire Agricultuur Nederland)
🇧🇪 Verlinvest launches $100m V3 Ventures fund for food, health and beauty startups. V3 will first target startups in the U.K., Europe, the US and India, focusing on pre-seed to Series A investments. (TechCrunch)
M&A, IPOs & partnerships
🇮🇩 P2P lender iGrow and aquaculture startup eFishery partner. Indonesia-based eFishery’s fish farmer partners will be able to access loans more easily thanks to the partnership. (Deal Street Asia)
Other news
🇺🇸 Nutrient discovery startup Brightseed unveils first ingredient in its portfolio of bioactives. Brightseed Bio 01 is a dietary fiber ingredient for gut health meant to be included in food and beverage items. (AFN) [Disclosure: AFN’s parent company is AgFunder]
🇪🇹 Ethiopia approves genetically engineered potatoes trials. The potatoes are said to be resistant to blight, which still causes potato harvest losses around the world. (Ethiopian Observer)
🇮🇩 Grab will close cloud kitchen services in Indonesia. The Southeast Asia “super-app” and and ride-hailing giant said it is trying to adopt an “asset-light” business model. (Nikkei Asia)
🇺🇸 Beyond Meat launches plant-based steaks at over 5,000 US stores. The launch comes after stagnant growth over the last year as well as a recent slew of layoffs. (Food Dive)
🇦🇺 Supermarket chain Coles will start drone-dropping grocery orders to customers. The trial is part of an initiative with Alphabet subsidiary Wing. (Startup Daily)
🇺🇸 Bill Gates’ Breakthrough Energy Ventures is forging an agrifoodtech venture to decarbonize rice production in Asia. Wavemaker Impact, Temasek, and subsidiary fund GenZero are also involved. (Tech in Asia)
🇮🇳 More than 900 restaurants leave the Swiggy food delivery platform. Restaurants cite a revenue drag from high commissions and “deep discounts” as the reason for their departure. (VC Circle)
🇺🇸 Former employee accuses genetically engineered (GE) salmon producer AquaBounty of workplace safety violations. AquaBounty says the claims are “not accurate.” (AFN)
🇸🇬 Solar Foods gets regulatory approval in Singapore for “air protein.” A commercial launch of the protein grown with CO2 and electricity is slated for 2024. (Food Navigator)
🇬🇧 UK watchdog may force funds to remove ESG claims that fail to meet new “green” criteria. The move is part of the Financial Conduct Authority’s crackdown on greenwashing. (Financial News)
