Select deals from last week:
🇩🇪 Infarm, a Berlin-based vertical farming company, reached $1 billion valuation following a $200 million Series D. Beyond providing fresh produce within proximity, vertical farming can increase agriculture output to meet the demands of a growing population. Infarm's technology, however, could be up to 400x more efficient in growing produce compared to traditional agriculture, the company claims. Also, no pesticides are required. The company is able to set up a new vertical farm within 6 weeks and in various sizes depending on local demand because of its modular technology.
🇺🇸 ezCater, a B2B food catering company, secured $100 million Series D2 at $1.6 billion valuation. The new round values the company at just 23% premium to its previous private valuation in 2019. As workers stopped going to the office last year due to the pandemic, the company has struggled. The company saw 85% of its revenue disappear in March last year. However, since then, ezCater has pivoted to provide catering services to essential workers.
🇰🇷 Kurly, a South Korean online grocery retailer, raised $210 million at $3.3 billion valuation. The fresh funding comes 6 months after raising $200 million Series F. Kurly is expected to list at the Korean stock exchange at $5.8 billion valuation in June next year.
Other notable foodtech deals from around the globe:
🇫🇷 La Belle Vie, a French online grocery delivery service, raised €25 million Series B. Launched in 2015, the company delivers 17k products within 3 hours in the Île-de-France area. In September, La Belle Vie jumped on the ultrafast grocery delivery bandwagon. Although the company goes heads and shoulders with the likes of Cajoo, Flink and Getir in Paris, La Belle Vie has operational experience that sets it apart.
🇺🇸 Ekos, a US-based management software, raised $21 million Series B to digitalize the supply-chain.
🇩🇪 Berlin-based Hier Foods secured €7 million to digitally connect small stores with food suppliers.
Read up on all the latest foodtech deals in Dealroom.co
Foodtech exits:
🇺🇸🇺🇸 The Urgent Company, a label owned by Perfect Day Foods, acquired LA-based icecream maker Coolhaus. The Urgent Company plans to make the ice cream label 100% animal-free.
🇺🇸 Footprint, a sustainable plastic company, went public via a SPAC at $1.6 billion valuation. The transaction is expected to complete in the first half of 2022.
Read up on all the latest foodtech exits in Dealroom.co
