Select deals from last week:
🇺🇸 Impossible Foods, the plant-based meat company, intends to raise $500 million at $7.0 billion valuation, a 70% increase since its Series G in August last year. Rival Beyond Meat currently has a market capitalization of $4.8 billion. Its current share price of $76 is almost the same as at the beginning of 2020, and Beyond reported disappointing net sales and a "wider-than-expected loss".
🇦🇺 Mr. Yum, an Australia-based restaurant ordering and payment company, raised $65 million Series A. This is the largest foodtech round in Australia. Last year, as lockdowns rolled out, "all of a sudden QR codes are everywhere". Mr. Yum was positioned to benefit. This year, CNBC reported that this trends is "likely permanent". Mr. Yum is more than a QR code menu company. It also facilitates payments and delivery though a partnership with DoorDash.
🇨🇴 Chiper, a Bogota-based B2B marketplace connecting corner stores with wholesalers, raised $53 million Series B. Founded in 2018, Chiper has become a leading B2B marketplace in Latin America. It currently operates in Colombia and Brazil. It has a $65 million revenue run-rate as of Q3 2021, a 7x increase since September last year. In 2022, the company targets a launch in Brazil and a revenue run-rate of $240 million. Chiper also plans to embed financial services into its marketplace, which is a lucrative opportunity.
Other notable foodtech deals from around the globe:
🇩🇪 Yababa, Berlin-based delivery service of Turkish and Arabic groceries, raised $15.5 million Seed round. Yababa operates in a crowded and competitive space.
🇸🇪 Peas of Heaven, a Swedish plant-based meat company, raised a €2.7 million Seed round to expand across Europe.
🇮🇳 Rebel Foods, a Mumbai-based startup working on dark/cloud kitchens, extended its Series F with $14.5 million. Last month Rebel Foods raised $175 million and became the 5th pure-play dark kitchen unicorn globally. There are 46 other startups working on dark kitchens.
Read up on all the latest foodtech deals in Dealroom.co
Foodtech exits:
🇨🇦🇺🇸 Leading cannabis retailer High Trade have acquired CBD-infused wellness products company NuLeaf Naturals. NuLeaf Natural is one of 41 startups working on pet food products to treat anxiety and increase appetite.
Read up on all the latest foodtech exits in Dealroom.co
