Green Queen Media’s Post

What's new in FoodTech Funding this week? 💸 🇧🇷 Brazil’s Aqua Capital closed its third flagship fund with $450 million, surpassing its $400 million target, to support sustainable agrifood solutions which contribute to carbon reduction, positive change in greenhouse gas emissions, and small and mid-sized farmers inclusion. 🥚 Onego Bio, based in Finland, secured $40 million Series A funding to commercialise its precision fermentation animal-free egg protein, Bioalbumen, for which it soon expects to obtain self-affirmed GRAS status in the US. 🌾 US-based Seso Inc. raised $26 million Series B funding to build the “premier platform” for agribusinesses to hire and manage their workforce and improve the lives of agricultural workers. 🔬 UK-based, scientist-founded VC Empirical Ventures raised £8.25 million to support early-stage deep science startups solving “some of the most pressing challenges facing humanity”. 🇩🇰 Copenhagen-based REDUCED secured €6 million to convert food and agriculture side streams into useful ingredients using fermentation technology. It will use the funds to further expand its operations. 🇸🇪 Sweden’s Ironic Biotech secured €1 million pre-seed funding for its precision fermentation proteins which allow iron to be easily absorbed into the blood, designed to be used as an ingredient in food or food supplements. 🇮🇱 Israeli molecular farming startup Finally Foods Ltd emerged from stealth with a pre-seed investment from The Kitchen Hub, with which it will develop protein from potatoes, starting with casein. Congratulations 🙌 Nélida Leiva Eriksson, Dafna Gabbay, Basia Vinocur, Strauss Group, Ofer Haviv, Eyal Ronen, Jonathan Berger, Hadas Rajchenberg, Dorit Rozner, David Leibler, Mark Durno, Rockstart, Emil Munck de Voss, William Anton Lauf Olsen, Johnathan Matlock Dr Ben Miles, Michael Guirguis, Maija Itkonen, Christopher Landowski https://lnkd.in/eyUq2EjK

The cultivated meat industry faces significant investment challenges as private funding has plummeted, with investments falling dramatically from highs in 2021 to relative lows in 2023. Industry experts at the recent Future Tech Summit summit in London emphasized the critical need for substantial government investment to bridge the "valley of death" in scaling production. Companies are showing resilience by adapting their strategies - refining their messaging, focusing on long-term goals, and exploring hybrid products. Notably, pet food startup Meatly reports progress in reducing production costs, claiming to have lowered media costs to £1 per liter. Despite ongoing regulatory hurdles and scaling difficulties, the industry maintains optimism about its potential in the coming decades. However, consolidation appears inevitable, with many firms pivoting towards an ingredients-based approach and considering blended products to accelerate market entry. #cellag #futureoffood #cultivatedmeat #cellbasedmeat #precisionfermentation

Recap the latest funding rounds in AgriFoodTech 🇨🇦 Protein Industries Canada is partnering with Roquette, Prairie Fava, BioNeutra North America, Inc., and Plant Up on a $24.5 million project to advance the country’s plant-based food innovation and market diversification. 🥓 British plant-based meat startup THIS™ secured £20 million in a Series C funding round led by Planet First Partners. Its meat alternatives are already available in supermarkets across the UK, and it will use the funds to further expand its range. 🦀 US-based Tender Food, formerly Boston Meats, raised $11 million in a Series A funding round led by Rhapsody Venture Partners. Its technology involves spinning plant protein fibres to create structured cuts of meat, and its range already includes beef short rib, pulled pork, chicken breast and crab. 🧫 Israel’s Ever After Foods secured $10 million for its cultivated meat bioreactor platform, which it says will allow producers to scale up their manufacturing whilst reducing their costs by up to 90%. 🌾 Kilimo, based in Argentina, raised $7.5 million Series A funding. It uses its catalogue of 100,000 soil samples taken from 45 different crop types in a number of different countries to connect soil moisture to satellite imagery of farm fields, so it can then remotely monitor farm fields and advise farmers on their water use. 💨 German startup atmio secured €5.1 million, in a seed funding round led by Notion Capital, to further expand its operating system that allows natural gas companies to find, fix, and report methane emissions. 🇮🇱 Microalgae protein producer Brevel received a grant of NIS 1,500,000 (approx $400,000) from the Israel Innovation Authority to develop microalgae-derived functional lipids for food applications. 💰 Inside Scoop: Sifted reveals that the elusive world of family offices is showing a greater interest in ClimateTech. Freya and Sadia spoke to Nadim El Khazen of PeakBridge, Greg Michel of Ananke and other investors at the HackSummit. Congratulations 🎉 Matthias Schmittmann, Marius Krüger, Matan Golan, Yonatan Golan, Ido Golan, Jairo Trad, Emerald Technology Ventures, Eyal Rosenthal, Andy Shovel, Pete Sharman, Tim Fleschner, Christophe Chantre Check out all the news: https://lnkd.in/dCNkUxYJ

Power up your week with a rundown on the latest FoodTech headlines 📉 Data from AgFunder reveals that investment in eGrocery is down 90% from its $19 billion peak in 2021. 🤝 The International Finance Corporation is partnering with Danish climate fintech Agreena to advance sustainable farming across Eastern Europe by improving farmers' access to finance and supporting banks in achieving their green finance goals. 🐟 Future Ocean Foods welcomed 17 alt seafood companies to its community, including BLUU Seafood, Forsea and Monkeys By The Sea. 🤓 A Glossary of 180 terms related to venture capital and finance from Ole Margraf 6️⃣ Sifted covers six things you should know if you’re fundraising this autumn.   🥬 Plant gene editing pioneer Pairwise  raised $40 million Series C 🧬 Arzeda secured $38 million in an oversubscribed funding round led by Sofinnova Partners. 🍄 Ecovative - the mycelium technology company raised $28 million in a growth equity round to scale its mycelium-based MyBacon product and launch new sustainable leather alternatives. 🧀 French biotech Standing Ovation secured €3.75 million Series A+ funding for its precision-fermented, animal-free protein ingredient, Advanced Casein, with the aim of launching in the US by 2025. 🪩 + 11 more FoodTech fundraises: Flink, Ferovinum, Matr Foods, MiAlgae, Lucidome Bio, Lil Bucks, Rescale Supply, Fabas Foods AG, Tuggs, Freda, Fermtech   🍄 US startup Santa Cruz Fungi debuted Shroomsicles - smiley face-shaped frozen novelties infused with mushrooms like lion’s mane. 🥩 Aleph Farms is preparing to launch its beef steaks in restaurants through a collaboration with Michelin-starred chef Eyal Shani. 💉 ArkeaBio™, based in the US, claims that vaccination is the most cost-effective and scalable method to reduce livestock methane emissions, 🥚 Netherlands-based revyve is launching a “next generation” gluten-free egg replacer made from baker’s yeast. 🥩 Forma Foods has developed what it claims is the best plant-based carne asada using a patented 3D printing process called "chaotic printing”, which it says accurately replicates the texture and appearance of beef. 🍯 MeliBio secured a patent for its plant-based honey in Germany, opening up its products to more EU consumers. 🎟️ Surrounded yourself with top company, hot debates, small group workshops and plenty of optimism and inspirations to put your best foot forward in 2025 at the HackSummit in NYC. 🚜 General Mills and Ahold Delhaize USA are partnering to transition 70,000 acres within their shared supply chain to regenerative agriculture practices. 🌮 Spot the difference: Can you tell which of these Chiptole Mexican Grill bowls was made by hand, and which was made by a robot? 🌾 20 startups who are working on crop robotics, mapped. 👑 Steve Molino asks: Is fermentation king in alternative proteins?

What a transformative month! Proud to have presented and connected at some fantastic events, all driving food innovation and a sustainable future for our food systems. Here’s a look back: 1. #publiekseventcrole by Crole Natuurrund and Kansen voor West 2. #festivalvandetoekomst by Provincie Zuid-Holland 3. #foodtechlondon organized by Rethink Events 4. #thenextbite in Rome from EIT Food 5. #dutchdesignweek in Eindhoven, invited by Rabobank 6. #futureofproteinproduction in Amsterdam The Future of Protein Production 7. #KETX@theboat in Amsterdam from The KindEarth.Tech (KET) Foundation Some key take aways: 1. Technology is accelerating fast. There is so much exciting coming in cultivated meat, precision fermentation and hybrid products. Watch out for: Those Vegan Cowboys , NoPalm Ingredients, Mosa Meat, Upstream Foods, FiberFoods 2. Startups are leading the way. Huge respect for that, but it’s impossible to expect these pioneers to take all the risk. The incumbents in the food sector need to jump in early and assign resources to develop new categories (also for their own future). 3. European venture capital is trying hard, but cannot fuel the changemakers. Yes, the capital market is tight, lead-times are long, risks are high (rewards are higher!). Smaller ticket sizes and less favorable conditions are not helping to go after the big bets. Also, don't expect that you can get the societal impact on top of the financial returns. In most cases it’s a tradeoff. 4. Farmers are often forgotten or not involved. RESPECTfarms puts the farmer at the center. And you would not believe how many times we have to justify why we involve these stewards of the land. Most of the pitches from startups start with bashing livestock farming. It’s not us against them; together we need to work on a sustainable and tasty protein mix to feed the ever growing demand for food. And TIFKAP (The Industry Formerly Known as Alternative Protein) can now be referred to as Complementary Protein. 5. Public money is there, but scattered over different regions, programs, timeline and priorities. It's all earmarked for something specific, and execution is handcuffed. When solving the world food problem it should not matter if a consortium member is from another country, or does not completely align with the formulated policy agenda. The worst thing that can happen is that startups change their plans to a mediocre plan to fit in subsidy guidelines and impact suffers from that. We at RESPECTfarms are looking for a special breed of supporters! Reach out to info@respectfarms.com if you believe that: 1. We have a challenge to solve in our food system. 2. Cultivated meat is a piece of the puzzle and we need to accelerate this to market. 3. Farmers are at the foundation the food system and should be involved in the transformation. Read more about how you can donate or sponsor our foundation at: https://lnkd.in/eNJG6EvU

🍴📃 THE 2023 FOODTECH 500, ALSO CALLED THE AGRIFOODTECH'S FORTUNE 500, IS HERE. Described as the “Fortune 500 of agrifood tech”, food tech consultancy Forward Fooding has released its 2023 FoodTech 500 list, with the highest number of companies belonging to the plant-based sector. Other alternative protein startups also had strong representation on the list. US mycelium fermentation startup Nature's Fynd has topped Forward Fooding’s FoodTech 500 list for 2023, with four other future food companies joining it in the top 10. These include fellow US mycelium protein company meati™, Spanish plant-based meat maker Heura Foods, US molecular farming pioneer Nobell Foods, and German fermentation tech startup Planet A Foods. The annual list – which began in 2019 – recognises entrepreneurs addressing challenges throughout the food value chain, highlighting the most innovative businesses at the convergence of food, technology and sustainability. This year, over 1,500 companies submitted applications to be featured on the list, representing 34 domains, including plant-based, ag biotech, protein fermentation, cellular agriculture, and vertical and indoor farming. Of the 500 companies selected, nearly a third (32.3%) were female-founded, and just over a sixth (17.8%) had Black, Asian or minority ethnic founders. Meanwhile, 95.4% of the finalists had received investment, with two unicorn companies (having raised over $1B without going public) and four publicly traded businesses. Despite a challenging landscape in terms of both sales and optics, the plant-based industry was the most well-represented domain, with 63 companies (12.6%) appearing on the FoodTech 500 list for 2023. This was followed by farm management and precision farming (55 companies) and vertical and indoor farming (46 companies) Future food startups innovating with fermentation had a strong presence too, with 33 such businesses on the list, which also had 23 cellular agriculture companies (even without any of their products actually being on the market, which displays their potential). We spoke to Max Leveau, co-founder and chief operating officer of Forward Fooding, about the 2023 FoodTech 500 list, the plant-based dominance, the biggest surprises, and the importance of female leadership. 👇 #GreenQueen #altprotein #futurefood #foodsystems #innovation #sustainability #foodtech

💸 Here are the 1️⃣2️⃣ #FoodTech news and deals of the week that you should know about: 🇺🇸🔬 Prolific Machines, Inc., an American startup, raised $55M for its bioreactor technology for cell cultivation, designed to enhance protein production using light. It has applications both for food and medicine. 🇩🇰 🍺 EvodiaBio, a Danish startup, raised €7M to produce sustainable natural aromas through precision fermentation. Its first ingredient is an aroma for non-alcoholic beers. 🇮🇱🍫 Kokomodo, an Israeli startup, raised $0.75M for its plant cell culture technology to produce cocoa. It says it should reach price parity with premium cocoa in a few years. The hype around startups applying cellular agriculture to plants (see our insight on this topic here) is impressive. It seems to be largely boosted by the rise in the price of cocoa. As raw materials prices tend to fluctuate widely, will this remain as hot a topic when prices will fall? 🇨🇦 🌾 IntelliCulture, a Canadian startup, raised $2.5M for its software optimising equipment and crop management for high-value crops. 🇺🇸🍷Lumo, an American startup, raised $7M for its smart irrigation technology to optimise water use in vineyards. 🇮🇳 🌾 Fyllo, an Indian startup, raised $4M for its platform for farmers using AI and IoT to enhance crop productivity and profitability. 🇺🇸 💥 Another bankruptcy: Takeoff, a US-based startup developing automated micro-fulfilment e-commerce grocery solutions, is seeking to sell its assets. 🇫🇷🌿 Mo.del, a French startup, raised €2M to industrialise its "Viti-Tunnel®", a device for protecting vineyards from bad weather while reducing pesticide use. 🇮🇱 🥩 Aleph Farms, an Israeli startup and one of the world’s leading cultivating meat players, is laying off 30% of its workforce to focus on an “asset light” strategy. Like many startups in this space, it faces difficulties scaling and raising money. 🇺🇸 🧃 poppi, a US-based beverage startup, is facing a class-action lawsuit alleging its claims about prebiotic benefits are misleading. Poppi reached $100M in sales, making it one of the fastest-growing beverage brands in the US and a beacon of the healthy / better-for-you category. 🇨🇭👵 As birthrates fall, Nestlé wants to focus on the rising number of elderly people, notably in developed economies. 🇺🇸 🍕 Domino's’s is using an AI to anticipate pizza orders before they are actually made. We can’t stop progress, isn’t it? Next, AI will have them deliver a pizza before we know we want it. 👉 To get all our insights on the future of the food industry, sign up to our newsletter: https://lnkd.in/gBKHaVRJ All the article's details, links, and more analysis are in the link in the first comment! #startup #foodtech #agtech #deal #fundraising

💸 Here are the 1️⃣2️⃣ #FoodTech news and deals of the week that you should know about: 🇺🇸 🧬 Shiru, a US-based startup, unveiled its marketplace for proteins. Shiru “discovers” proteins in plants and fungi. These proteins have functionalities close to animal proteins, such as casein, and can act as substitutes. On the marketplace, companies can buy samples or licence the use of the proteins. Just screening the marketplace is quite exciting. They are presented just like a list of products on Amazon, giving a glimpse of the “future of food” where all types of proteins (either natural or custom-made) will be available at the tap of a fingertip. 🇺🇸 🥃 UNICORN, an American startup, raised $5.8M for its wine and spirits (mostly whisky, from what we saw) collectors platform. Users can buy and sell bottles through auctions. 🇺🇸 🍓 Oishii, an American vertical farming startup, secured $15M In loans from the USDA to convert an old building into an energy-efficient vertical farm to produce its high-quality strawberries. This is part of the much larger trend in the US of public loans and grants to fund the energy transition. 🇳🇿🌱 Jooules, a New Zealand startup, raised NZ$1M for its biomass fermentation process that “transforms” CO2 into proteins. 🇫🇷 💽 KaryonFood, a French startup, raised €1.3M to grow its tool that helps food companies and retailers to manage data better. 🇺🇸 🐟 Shinkei, a US-based startup, raised $6M for its more humane and quality-preserving fish harvesting technology. 🇺🇸 🧪 Caladan Bio, a US-based startup, raised $5M for its improved bioreactors that could increase the speed the speed of research and development. Bioreactors are one of the key bottlenecks of the alternative protein and, more broadly, synbio food ecosystems 🇮🇳 💰Swiggy, one of India’s leading food delivery startups, is planning a $1.25B IPO. 🇺🇸 📊 Invent Analytics, an American startup, raised $17M for its AI-based inventory management solutions. 🇳🇬 🚚 Chowdeck, a Nigerian startup, raised $2.5M to create a local food delivery leader. 🇬🇧🌾 CroBio®, a British startup, raised €1.45M for its soil microbes that increase the drought resilience of crops 🇺🇸 🧀 Climax Foods, a US-based plant-based cheese startup, has won a food competition, only to be ultimately disqualified. Beyond, it shows the uneasiness around this topic of plant-based foods being judged as good as the “real stuff”. 👉 To get all our insights on the future of the food industry, sign up to our newsletter: https://lnkd.in/gBKHaVRJ All the article's details, links, and more analysis are in the link in the first comment! #startup #foodtech #agtech #deal #fundraising

We are proud to announce that Kokomodo, a startup from our 2024 EIT Food Accelerator Network cohort has secured $750,000 in funding from The Kitchen Hub by Strauss Group and the Israel Innovation Authority (IIA) to cultivate the future of cocoa. Kokomodo's solution crafts 100% authentic, climate-resilient cocoa all year around, addressing the industry's pain points of unstable supply, inconsistent quality and complex supply chains. The pioneering Agri-FoodTech startup aims to revolutionise the cocoa industry with its cellular agriculture platform, ensuring a sustainable and resilient supply of premium cocoa amidst the escalating global cocoa crisis. By 2050, climate change is projected to render 89.5% of cocoa farmland unfit for production, posing an existential threat to the beloved "food of the gods." Coupled also with issues of deforestation and child labour, the need for innovative solutions is becoming more urgent than ever. "Kokomodo was born from a profound passion for preserving the supply of cocoa. Our cellular agriculture technology ensures a steady flow of premium, health-boosting cocoa, aligning consumer enjoyment with global responsibility." Tal Govrin, CEO and Co-Founder of Kokomodo Kokomodo’s journey towards premium sustainable cocoa begins with selecting cells from the finest cacao strains sourced from Central and South America, utilising cutting-edge biotech techniques. These carefully chosen cells are then cultivated using state-of-the-art cellular agriculture technology, nurturing them into a thriving cell culture. As the biomass grows, the production process moves to advanced bioreactors, where the cacao is harvested and processed according to the specific requirements of each food application. This systematic approach guarantees that Kokomodo's cocoa retains its exceptional quality and authenticity from start to finish. Through the company’s technology process, they ensure cocoa that matches traditional chocolate flavours and textures, offering the genuine taste and characteristics of real cocoa (aroma, flavours, and sweetness) while capturing the nutraceutical values and health benefits of cacao. The funding will fuel Kokomodo's growth and accelerate its mission to revolutionise the cocoa industry. Congratulations to Tal Govrin, Dario Breitel, PhD, Neta Manela, PhD, the entire Kokomodo team and everyone involved. It is great to see how Kokomodo addresses the global cocoa crisis, whilst catering to diverse market needs by ensuring a sustainable and premium cocoa supply. #agrifoodtechinnovation #startupacceleration #foodsystemtransformation

"Despite a challenging landscape in terms of both sales and optics, the plant-based industry was the most well-represented domain, with 63 companies (12.6%) appearing on the FoodTech 500 list for 2023. This was followed by farm management and precision farming (55 companies) and vertical and indoor farming (46 companies)." "Future food startups innovating with fermentation had a strong presence too, with 33 such businesses on the list, which also had 23 cellular agriculture companies (even without any of their products actually being on the market, which displays their potential)." Thank you Green Queen Media, Sonalie Figueiras, and Anay Mridul for sharing the #FoodTech500 👏 💚 Special shoutout to the plant-based and alternative protein finalists who made this year's ranking! 🌱 Read Green Queen's coverage of the FoodTech 500: https://lnkd.in/dX-vYNAS Check out the full 2023 FoodTech 500 list: https://lnkd.in/eMP64QU #ForwardFooding #GreenQueen #futurefood #foodtech #plantbased