FoodHack’s Post

The Final 14 Fundraises of AgriFood in 2024 💰 Nordic Foodtech VC launched a new €80 million fund to support early and growth-stage startups in sustainable food innovation 🌾 one.bio, whose proprietary technology is designed to convert agricultural waste into oligosaccharides that “bridge the fibre gap”, raised $27 million in a Series A funding round led by AlphaEdison. 🧬 Sound Agriculture  raised a $25 million Series D extension to expand its flagship products, SOURCE and BLUEPRINT, into new markets while spinning out its advanced epigenetics platform for genetics innovation. 🍗 Luyef Biotechnologies secured $12.5 million to scale its production of affordable cultivated meat. 🏭 Yeastup raised $9.9 million Series A funding to repurpose a former dairy factory into a facility that upcycles 2,000 tonnes of spent brewer’s yeast annually into proteins and functional ingredients for food, nutraceuticals, and cosmetics. 🥗 Orbisk | Zero Food Waste, a Dutch scale-up reducing food waste in hospitality, raised €8 million in a Series A round featuring Regeneration.VC to scale its AI-powered food waste monitor 🚜 HEMAV secured €8 million to expand its AI-driven agricultural platform LAYERS, designed to enable sustainable farming through precision insights that help reduce input costs by up to 30%, enhance logistics, and deliver highly accurate yield predictions. 🧈 Gavan raised $8 million Series A funding to launch a new European pilot facility for Fatrix, its plant protein-based fat that replaces butter in bakery and dairy alternatives, with operations set to begin in April 2025. 🇬🇧 New Wave Biotech raised €1.2 million for its AI-powered bioprocess simulation platform, which optimises R&D in synthetic biology and alternative protein production to enable faster, more efficient scaling. 🥑 Bpacks raised €1 million seed funding for its bark-based packaging technology ☁️ Freya Cultivation Systems raised €500,000 seed funding for its flagship greenhouse product, The Aeroframe, a fog-based plant-growing system that doubles cultivation area using three-dimensional surfaces and triples grower profits by reducing per-plant costs. 💸 PepsiCo awarded ¡Ya Oaxaca!, a culinary brand specialising in artisanal Mexican sauces, the $100,000 grand prize from its 2024 Greenhouse Accelerator 🤖 AgriRobot secured funding in a round led by NORMINAL Venture Finance and Tall Grass Ventures, bringing its total raised to over €2.5 million. 💶 SevenVentures, the investment arm of ProSiebenSat.1 Media SE.1, has made a media-for-equity investment in Swiss food tech Planted, providing targeted advertising across its TV channels and streaming platform to boost brand awareness and growth in German-speaking markets. Get the full recap: https://lnkd.in/egc7pR7T

🌿 A pioneering startup, GrubFeeds, is transforming waste into value by using Black Soldier Flies (BSF) to upcycle organic waste into animal feed and organic compost. This innovative approach not only tackles food waste but also supports sustainable agricultural practices, contributing to a greener planet. 🌏 🔄 BSF larvae are rich in protein and fat, making them an excellent alternative to traditional animal feed ingredients like fishmeal and soybean meal. Their facility in Kandal is capable of upcycling over 15 tons of organic waste per month, with plans to scale operations significantly. 👨🔬 GrubFeeds was founded by Tapas K., an IIT Kharagpur graduate with a wealth of knowledge and expertise. Tapas has mentored, co-founded, and invested in several startups, highlighting his entrepreneurial spirit and commitment to innovation. His vision for GrubFeeds includes scaling up operations to handle over 100 tons of waste per day and focusing on producing animal feed ingredients for aquaculture, poultry, and pigs in Southeast Asia, as well as pet food ingredients in the Asia-Pacific and Middle East regions. 👏 Let's celebrate and support this remarkable venture making a positive impact on the environment and economy! 👉 Follow GrubFeeds and stay tuned for more updates. 🙋🏽♂️➡️Read our article: https://lnkd.in/gf3Zaxj3

Some highlights from FoodTech Weekly #222 (https://lnkd.in/dnHFrUVR) which was sent this morning: 🇩🇪 Klim has closed a $22M Series A round, led by BNP Paribas and joined by e.g. AgFunder, Earthshot Ventures, Elevator Ventures, and Rabobank. The company gives farmers the tools to plan, execute, and finance the transition to regenerative farming, track their progress, and prove it to supply chain partners in order to earn revenue payouts for sequestered carbon 🇺🇸 Shiru has raised a $16M Series B led by S2G Ventures and backed by e.g. CPT Capital and Nourish Ventures. They company has built a discovery platform and marketplace for proteins called ProteinDiscovery.ai which helps companies identify and test various types of proteins 🇩🇰 NitroVolt has harvested €3.5M (appr. $3.7M) in Seed funding from investors incl. BackingMinds, Export and Investment Fund of Denmark, EQT Foundation, Satgana, and DivisionM. The company develops a method to decentrally produce sustainable green ammonia to help decarbonize farming 🇩🇪 feld.energy GmbH, which empowers farmers to use their land for a combination of agriculture and electricity generation using PV solar, has scored €1.7M (appr. $1.8M) in preseed funding led by HV Capital and joined by e.g. Angel Invest, Coinvest Capital, and a bunch of angel investors 🇫🇮 Happy Plant Protein, a spinout from VTT Technical Research Centre of Finland, has bagged €1.8M (appr. $1.9M) in a round led by Nordic FoodTech VC and joined by Butterfly Ventures, as well as a grant from Business Finland. Happy Plant Protein’s technology allows for the production of high-quality plant proteins with existing extrusion machinery, avoiding the need to establish expensive dedicated facilities 🇩🇪 Oceanloop has reeled in €35M (appr. $37M) in an European Investment Bank (EIB) loan to expand in Germany and Spain. The company does indoor farming (RAS) of shrimp and fish 🇬🇧 ZELP ltd, which develops a low-cost, cattle wearable technology to mitigate methane emissions, has received a $4.9M grant from the Bill & Melinda Gates Foundation aimed at accelerating validation of ZELP’s cattle methane mitigation device 🇧🇪 Aphea.Bio has landed €1.9M (appr. $2M) from VLAIO - Flanders Innovation & Entrepreneurship for its its biostimulant INITIA that improves nutrient uptake efficiency resulting in better grain yields and reduced reliance on chemical fertilizer 🇳🇱 Solaq has secured €1.4M (appr. $1.5M) in preseed; the startup has developed a solar-powered technology that uses heat instead of electricity to produce water, allowing water to be extracted from the air, off-grid, 24/7, even in dry places like deserts 🤩 New jobs at Volta Greentech 🎙️ Investment Climate podcast highlights (hosted by Alex Shandrovsky) with Anik Thaler of Fabas Foods AG ...and much more! Subscribe now at: https://lnkd.in/dZ_FvGYt #foodtechweekly #FoodTech #agtech #startups #funding #tech

🇲🇾 Qarbotech secured a $1.5M seed extension to expand its photosynthesis-enhancing tech, which boosts plant yields by up to 60% Using carbon quantum dots, the Malaysian startup’s technology improves sunlight absorption, reduces carbon emissions, and optimises fertiliser use, cutting fertiliser needs by 10-30%. The technology has been successfully tested on farms in Malaysia and Indonesia, where a pilot project with PT Iceh Agro Indonesia on 400 hectares of rice fields increased yields by up to one tonne per hectare, significantly improving farmer incomes. With plans to build a new manufacturing facility, Qarbotech is eyeing expansion into Indonesia, Thailand, Vietnam, and other Southeast Asian countries. The startup also plans to enter the South African market next year. Chor Chee Hoe, Dr. Suraya Abdul Rashid, Amirul Merican Key investors 💰: 500 Global, Better Bite Ventures, ID Capital Pte, EQT Foundation, and Epic Angels.  ✉️ Hungry for more updates on biotech-enabled agrifood businesses and breakthroughs? Devour the free subscription: betterbioeconomy.com

🇳🇱 Farmless received €1M grant from the European Regional Development Fund to develop its air-based fermentation technology The Dutch startup will use the grant to optimise its fermentation technology at a First of a Kind (FOAK) facility. This follows its €4.8M funding in December last year to build a pilot brewery in Amsterdam. Farmless’ air-based fermentation uses CO2, hydrogen, nitrogen, and renewable energy instead of sugar, producing proteins more efficiently than animal farming. This production method is said to be carbon neutral, operates independently of agricultural conditions, and is highly efficient—requiring 5000 times less land than beef farming. Adnan Oner ✉️ Hungry for more updates on biotech-enabled agrifood businesses and breakthroughs? Devour the free subscription: betterbioeconomy.com

🌱As Singapore continues to establish itself as a hub of agricultural innovation, we are excited to spotlight the trailblazing startups who are making it happen! They're adopting cutting-edge technologies and pushing boundaries to revolutionise the industry with their fresh strategies, commitment, and innovative ideas! 📍Let's call attention to these startups and their commendable efforts! Dive into it here: https://lnkd.in/gssRpVhz Featured in the article: 🔸 Vertical Oceans Founded by Enzo Acerbi & John F. Diener. They're tackling aquaculture in a unique way: farm-to-fork shrimp in vertical aqua towers! 🔸 Bioark Founded by Jeremy Chua, a leading name in the intersection of Agriculture and Biotechnology. 🔸 Moo Ma led by Brian Reddy is leveraging Big Data & IoT for smarter, more efficient dairy farming. 🔸 Meet DCX Founded by Frank Gouverne & Stephen Edkins. They're running a fully integrated, digital marketplace for physically trading agricultural commodities. 🔸 Olam Agri Brasil is making an impact in food, feed, and fibre in high-growth emerging markets. 🔸 Taste the innovative plant-based food from UMAMI UNITED , led by Hiroto Yamazaki. 🔸 WasteX provides solutions for different industries to generate financial benefits, productivity gains, and positive environmental impact. 🔸 Last but not least, GRANDBIO.SOLUTIONS is creating technology for mining high-quality mushroom protein which has numerous applications. Inspired by their stories? Excited to learn more about them? You’re just a click away! #AgricultureStartups #Singapore #AgTech #Startups #Innovation #BioTech #Sustainability

Some highlights from FoodTech Weekly #212 (https://lnkd.in/d3TnU9Wt) sent this morning: 🇧🇪 Regenerative agriculture startup Soil Capital has secured €15M (appr. $16.5M) in Series B funding, led by Trill Impact Ventures and joined by e.g. Société Fédérale de Participations et d’Investissement, Sandwater, Santander Alternative Investments, Ring Capital and Edaphon. Soil Capital helps farmers improve soil health 🇩🇰 REDUCED has announced the second closing of its A round, bringing it to €8M (appr. $8.9M). The round was led by the European Circular Bioeconomy Fund (ECBF). REDUCED transforms upcycled side streams from the food/ag sectors, via proprietary fermentation, into premium umami flavors 🏴󠁧󠁢󠁳󠁣󠁴󠁿 Nandi Proteins Ltd has bagged £500K (appr. $650K) from investors such as Nesta and Scottish Enterprise. The company develops an egg white replacer for various applications 🇺🇸 Climax Foods, which makes plant-based cheese, has raised bridge funding from existing investors which it will use to restructure the company and aim to reach profitability 🇳🇴 Ocean Oasis , which develops a system that uses wave power to run a desalination process offshore, has reeled a €6M (appr. $6.6M) grant from the European Innovation Council and SMEs Executive Agency (EISMEA) 🇮🇳 AGRIM has harvested a $17.3M Series B investment from Asia Impact (and backed by early investors such as Omnivore and Accion Venture Lab). The company offers an online marketplace that connects inputs such as seeds and tools to small agricultural retailers, that in turn supply them to small farmers 🇺🇸 HabiTerre has raised a $10M Series A first close from John Deere to continue developing its environmental systems models that can help analyze the impact of farming techniques on crop productivity and the environment 🏴󠁧󠁢󠁳󠁣󠁴󠁿 Xias Bio has received £3.8M (appr. $5M) in Seed funding led by Happiness Capital | Certified B Corp and joined by e.g. SOSV, Good Startup, and CPT Capital. The company has developed a molecular platform that can create animal-free protein 🇬🇧Sunswap has pulled in €20M (appr. $22M) in a funding round led by BGF and joined by e.g. Shell Ventures and Barclays. Conventional cold chain logistics involves transporting temperature-sensitive goods such as meat, dairy, fruits, and vegetables in diesel-powered refrigeration units, which lead to GHGs. Sunswap has developed Transport Refrigeration Units that combine batteries with solar power to provide a fully-electric, emission-free alternative. 💡 Conversation with Ofek Ron ⚓️ of Oshi 🤩 New jobs at BettaFish (Germany), Veat (Sweden), and Perfat Technologies (Finland) ...and much more! Subscribe now at: https://lnkd.in/d8mUXXH5 #foodtechweekly #FoodTech #agtech #startups #funding #tech

🇪🇪 ÄIO raised €6.1M to build a facility for its fermentation-derived alternatives to palm oil and animal fats Äio uses specialized yeast to convert byproducts from the wood and agricultural sectors, such as sugars from sawdust, into food-grade oils. This oil production method is 10x faster than traditional methods and more environmentally friendly. The Estonian startup’s production process significantly reduces environmental strain, with the company claiming that its process reduces land use by up to 97% and cuts water consumption by 10x. It has developed three key products: Encapsulated Oil, which can replace palm oil; Buttery Fat, an alternative to animal fats and coconut oil; and RedOil, which serves as a substitute for fish and seed oils and can be used in food, cosmetics, and household products. Nemailla Bonturi, Petri-Jaan Lahtvee Key investors 💰: Voima Ventures, 2C Ventures, and Nordic Foodtech VC ✉️ Hungry for more updates on biotech-enabled agrifood businesses and breakthroughs? Devour the free subscription: betterbioeconomy.com

Finnish spinoff NPHarvest receives €2.2 million to launch nutrient-catching technology for wastewater recycling NPHarvest, a spin-off from Aalto University, has raised €2.2M in funding, consisting of a €1.3M equity investment and a €900,000 grant from the Finnish Ministry of the Environment and their RAKI program. The round was led by Nordic Foodtech VC, with participation from Stephen Industries and Maa- ja vesitekniikan tuki ry. The company has developed a nutrient-catching technology installed in wastewater management systems, which separates and collects excess nutrients from wastewater for recycling and sale to the fertilizer industry. The funding will be used to build their first commercially ready Nutrient Catcher, which features a modular design for scalability to different facilities while maintaining low production costs. This technology aims to improve business profitability, reduce pollution, and enhance food security by providing a sustainable source of recycled nutrients and fertilizers. https://lnkd.in/gDSHJYqQ #nordicmade #finland #funding #foodtech #agritech #sustainability #circulareconomy #startups #trending

What Learned This Week...... I saw no reason to watch debates this week. Instead, focusing on arbitrage in the AgTech venture market, renewable fuels, and improving rural healthcare. We are at a point in the investment cycle where the answer to the $1.9T in healthcare cost of poor nutrition will come from the farmers and entrepreneurs who figure out how to take the pressure from healthcare, Ozempic, and climate and turn it into a set of innovations that solve for all three. The innovations will likely come from the co-optimization of seed genetics, soil health, and food science. Combined with increased leadership from farmers and decreased market power of the processors. AI is the enabling force multiplier if it integrates with practical on-farm knowledge to co-create affordable nutrition. 1) Affordable nutrition will replace cheap calories. 2) The $53M investment by Andreessen Horowitz in Mark Hyman, MD Function Health is noteworthy. 3) Midwest farmers have an opportunity to tackle health in their local community. Increasing production of local fresh regenerative produce and collaborating with the rural health system to reduce diabetes. 4) Does anyone have any idea what to do with all the excess soybean meal from renewable diesel? 5) Both presidential candidates will support expansion into sustainable aviation fuel and renewable diesel because it is what farmers and export markets want. 6) If the Feds back out of 45z, blue states, foreign markets, climate billionaires, and corporations will fund the $5B to $10B in subsidy needed to close the business case. 7) Crop genetics and microbiome innovators need to develop technology that positively correlates crop energy and nutrient density—concurrently optimizing soil and genetics. 8) US fruit and vegetable production should move from California to the Mississippi Delta region. 9) CPGs know enough about regenerative agriculture to be dangerous. Farmers need to define best regenerative practices that work in their region. CPGs should shape the branding and food science. 10) Farmers working in a collective of 500k+ acres have the power to disrupt Co-Ops, Processors, nutrient density, and health. 11) To understand agriculture, Nestle, Unilever, BlackRock, JPM, etc need to hire FFA alumni as fast as possible. (Scott Stump) 12) South Asia and Southeast Asia (SASEA) are globalization's next frontier. Taking manufacturing from China. SADEA is a growing early adopter market for soy-based foods. 13) 10% of GHG is agriculture. If capital does not step in to fund recent venture shortfalls, we will lose 10 years of AgTech innovation required for affordable GHG mitigation. 14) H2 2024 and H1 2025 AgTech investments will likely be the best vintage year returns in decades. 15) My 2 cents on the Presidential debate is that a nutrient-dense diet rich in fresh vegetables improves golf handicaps in octogenarians. #foodishealth Brad Fruth Ellen Brown Clint Brauer Erin W. Martin Katie Stebbins Shari Rogge-Fidler