💸 Funding news
🇫🇷 🧪 Green Spot Technologies, a French startup, raised €5M for its cocoa alternatives made from upcycled side streams. After having tried (a lot) of cocoa alternatives, this one is among our preferred ones, and we can’t wait to see it being used more!
🇺🇸 🥚 The EVERY Company, a US startup, raised $55M to expand manufacturing of its precision-fermented egg proteins.
🇮🇳 🌱 Varaha, an Indian startup, raised $30.5M to expand its platform that finances smallholder regenerative practices (cover crops, reduced tillage, rice methane reduction, etc.) through verified carbon credits.
🇺🇸 📊 Ceres AI, a US startup, raised $13M to grow its imagery platform that analyses crop performance and risk for agribusinesses and financial institutions.
🇺🇸 🍳 Appetronix, a US startup, raised $10M to deploy automated robotic kitchens for non-commercial foodservice settings such as universities, hospitals and workplaces.
🇹🇭 🤖 Rolo Robotics, a Thai startup, raised $3.45M to deploy robotic hot-food kiosks that can prepare and serve meals without on-site staff across Asia–Pacific locations.
🇳🇱 🌿 Source.ag, a Dutch startup, raised €15.2M to scale its software that optimises climate, irrigation and yields in greenhouses.
🇦🇺 🐄 Nbryo, an Australian ag-biotech startup, raised A$10M to scale its bovine IVF platform and embryo technologies.
🇦🇺 🐄 Number 8 Bio, an Australian startup, raised 11M for its feed additive that can cut enteric methane emissions from cattle by up to 90%.
🇫🇷 🐛 NextProtein, a French startup, raised €18M to expand production of insect protein and fertiliser from food waste for feed and agriculture.
🇮🇸 🐟 Iceland’s First Water raised €24M to expand its land-based salmon farm.
🇵🇱 💊 Holi, a Polish startup, raised €3M to expand its digital obesity and metabolic-health clinic across Europe, combining telemedicine, personalised plans and GLP-1 integration.
🇺🇸 🥤 Lucky Energy, a US startup, raised $25M for the expansion of its energy drinks positioned around cleaner ingredients and performance.
🇺🇸 🥤 Trip, a US-based, functional brand, raised $40M, bringing its valuation to $300M. It will use the funds to scale its adaptogen and botanical-based drinks.
🇺🇸 🥄 Oddball, a US startup, raised $2M for plant-based jelly snacks positioned as better-for-you treats for families and kids.
🇦🇺 🤖 Keeyu, an Australian startup, raised A$2.3M for its platform to improve food delivery-related customer relationships
🇫🇷 🍽️ Sunday, a French startup, raised $21M to expand its QR-based payment platform already used by tens of thousands of restaurants. The hype around “pay-at-table” has faded, but the underlying trends of limited workforce is as strong as ever.
🧩 Acquisitions, regulation, bankruptcies & partnerships
🇺🇸 🍗 Believer Meats, an Israeli cultivated meat startup, obtained USDA approval for its cultivated chicken, unlocking limited commercial launches.
🇺🇸 🍕 Urban Farmer acquired Caulipower, the well-known “better-for-you pizza” (one of the brands we have been closely looking at for the past decade).
🌍 💥 Still bad news for vertical farms globally:
- Growy Singapore enters provisional liquidation after one year of operation
- US-based Bowery Farming’s $70M vertical farm to be liquidated.
🇩🇰 🐛 Enorm, a Danish insect farming startup, declared bankrupt after failed restructuring
🌍 Leading companies & macro trends
🇸🇬 🍖 Singapore ditches its ‘30 by 30’ food-security plan, which was supposed to have Singapore grow 30% of its food by 2030.
🇨🇳 ☕ Starbucks is selling a majority stake of its China Business. After years of struggling to keep pace with local competitors, the US company is seeking a deep-pocketed partner to be able to keep expanding.
🇯🇵 🏪 I love Japanese convenience store (I could tell you about my favourite items in each of them), but it seems they have a “dark side”. These 24/7 stores embody Japan’s efficiency, but they are also managed by overworked franchisees.
🇨🇭🍫 Barry Callebaut: revenues up even as volumes decrease by almost 7% as cocoa prices rise
