In the news:

🌾 Shiploads of Russian grain and good weather temper wheat crisis. The right mix of sun and rain in the U.S., Europe and Australia has raised hopes that end-of-summer harvests will be plentiful. That should help balance the sizable quantities of Ukrainian wheat stranded in the country by fighting and a Russian naval blockade. - The Wall Street Journal

🚜 ‘Agritech is only way to solve the global food crisis.’ Tristan Fischer, chief executive of vertical farming business Fischer Farms, argues that agritech investment is the way forward as the world faces a food crisis exacerbated by the war in Ukraine. - The Fresh Produce Journal

🌏 The future of agrifood tech in Southeast Asia. Southeast Asia is expected to account for Asia’s greatest increases in food expenditure, which is growing at a compound annual growth rate (CAGR) of 4.7%. To meet the high demand for food, foodtech companies in the region are developing novel foods cut cost and emissions. - KrASIA

🍽 5 Emerging tech trends that are set to redefine the food dining space - Ahmedabad Mirror

Latest foodtech deals

Select deals from last week:

🇦🇪 Pure Harvest Smart Farms, United Arab Emirates-based B2B agritech startup, raised $180.5M in its biggest fundraising round. The company specializes in growing food in harsh climates and plans to combine growth capital with debt financing to fund expansion into the GCC and Asia.

🇺🇸 Atomo Coffee has raised a $40M Series A from S2G Ventures, AgFunder and Horizons Ventures. Based in Seattle, the foodtech startup reduces the environmental impact of coffee production by using upcycled ingredients rather than coffee beans.

🇮🇱 Israeli foodtech startup Mao Lac has raised $3.2M in a Seed funding round to develop technology to harnesses the benefits found in breast milk to create superfood by extracting the same proteins from bovine colostrum or plant-based analogsand.

Other notable foodtech deals from around the globe: 

🇺🇸 Sharebite, a New York City-based startup that partners with restaurants to deliver food to corporate clients, announced it raised $39 M in a Series B round.

🇫🇷 Micropep Technologies, a Toulouse, France-based agricultural biotech company, raised €8.5M in Series A funding. The financing will be used to further develop proprietary discovery platform and progress pipeline targeting disease control and weed suppression.

🇩🇪 Berlin-based Project Eaden raised €8M. The foodtech company engages in the development and licensing of technologies for the production of sustainable food and meat alternatives. The funding will go towards helping the company create sustainable food at scale.

Read up on all the latest foodtech deals in Dealroom.co

Tip of the week

📣 Dealroom Startup Signals 📣

Dealroom has launched a powerful predictive algorithm to discover the most promising companies, Startup Signals. The input for each Signal's algorithm includes company growth (team size, product growth), job openings, completion score and contextual data (does the company fit into segments of interest), timing (is the startup likely to raise their next round soon) and team composition.

🚨 The most valuable early-stage foodtech companies don't have to have the highest Startup Signal. For example, Flink (37) is the most valuable grocery delivery service launched since 2020, but has a lower signal than Zepto (69). 

Dive in

🗺️ Foodtech investment heatmap

🎓 Foodtech university spinouts

🦄 110+ Foodtech unicorns and $1B+ exits

Ivan Draganov

Senior Innovation Analyst
Dealroom

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