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Cultivating Funds
Oishii, Capagro, Bayer, and More Drive Funding, Partnerships, and New Solutions
Sepehr Achard
November 22, 2024
In partnership with Harnois Greenhouse
In this edition, explore the latest developments across the AgTech sector. From substantial funding rounds supporting global agricultural innovation to strategic partnerships and groundbreaking product launches.
This Week’s Highlights Include:
Estimated Reading Time: 5 - 6 minutes
You can also listen to the full episode here, or on the player below👇
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THIS WEEK’S FUNDING
Funding Highlights: Oishii, Capagro, EarthOptics, and More
Oishii Extends Series B to $150M
Who? Oishii, a vertical farming startup.
What? Raised $150M in Series B funding, extending its earlier $134M.
Purpose? To fuel its first international expansion in Tokyo, Japan, and scale production of its premium Omakase Berry.
Capagro Fund II Exceeds €115M for AgrifoodTech Startups
Who? Capagro, a European AgTech and FoodTech fund.
What? Raised over €115M to invest in startups.
Purpose? To support innovative, sustainable solutions in agriculture and food production.
EarthOptics Raises $24M for Soil Digitization
Who? EarthOptics, a soil intelligence platform.
What? Secured $24M from investors including Conti Ventures and Bayer.
Purpose? To advance soil health technology, expand globally, and enhance agronomic insights.
Plantible Foods Secures $30M for Plant-Based Proteins
Who? Plantible Foods, a plant-based protein startup.
What? Raised $30M in Series B funding led by Piva and Siddhi Capital.
Purpose? To scale production of its Rubi Protein, addressing food sustainability and allergen-friendly alternatives.
TRACT Bags $11.2M for Sustainable Ag Supply Chains
Who? TRACT, a SaaS platform for agricultural supply chains.
What? Secured $11.2M from major agri-business investors like ADM and Cargill.
Purpose? To streamline sustainability data management and harmonize metrics.
BiocSol Raises €5.2M Seed Funding for Biopesticides
Who? BiocSol, a sustainable crop protection startup.
What? Raised €5.2M to develop microbial biopesticides.
Purpose? To combat crop pathogens and support eco-friendly agriculture.
Cascadia Seaweed Secures CAD$4M to Scale Seaweed Solutions
Who? Cascadia Seaweed, a seaweed-based agricultural solutions company.
What? Raised CAD$4M in Series A funding.
Purpose? To build a seaweed biorefinery, expand production, and promote regenerative agriculture.
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THIS WEEK’S STRATEGIC PARTNERSHIPS
Industry Updates: BW Fusion, genXtraits, Orbia Netafim, and FreezeM Leading Innovations
BW Fusion, Biodyne, and Agronomy 365 Merge to Create Integrated Agricultural Platform
Who? BW Fusion, Biodyne, and Agronomy 365.
What? Merged under the BW Fusion brand to form an integrated agricultural platform.
Purpose? To deliver sustainable biological solutions, improve crop productivity, and enhance soil health by integrating decades of research, analytics, and product expertise.
Almanac Acquires Gro Intelligence’s Assets to Strengthen AI-Driven Agricultural Insights
Who? Almanac and Gro Intelligence
What? Almanac has acquired the intellectual property and assets of Gro Intelligence
Purpose? The acquisition bolsters Almanac’s platform with AI-powered tools and extends its reach into new areas, including agricultural insurance, lending, trading, and CPG procurement.
genXtraits Partners with Pairwise for Gene Editing Innovations
Who? genXtraits and Pairwise.
What? Partnered to use the Fulcrum™ Platform for advanced gene editing.
Purpose? To develop crops with traits like drought tolerance, stress resistance, and enhanced nutrition, targeting genomic regulators for improved agricultural outcomes.
Orbia Netafim & Bayer Expand Collaboration for Digital Farming
Who? Orbia Precision Agriculture (Netafim) and Bayer.
What? Expanded their collaboration to include HortiView and GrowSphere™ platforms for data-driven farming solutions.
Purpose? To optimize irrigation, fertigation, and crop protection while simplifying data collection for fruit and vegetable growers.
FreezeM & Agroloop Hungary Introduce Decoupled Insect Farming Model
Who? FreezeM Ltd and Agroloop Hungary.
What? Collaborated to develop a decoupled insect farming model using FreezeM’s PauseM® breeding technology.
Purpose? To streamline Black Soldier Fly (BSF) farming for scalable, sustainable, and cost-efficient production of insect-based protein, oil, and fertilizers.
NEW PRODUCTS & FACILITIES
AgTech Innovations: PTx Trimble, Corteva, Growy, and Verdi Lead New Developments
PTx Trimble Launches WM-FieldForm for Advanced Water Management
Who? PTx Trimble, a joint venture between AGCO and Trimble.
What? Introduced WM-FieldForm, a water management system for optimizing landforming.
Purpose? To enhance irrigation efficiency, reduce soil erosion, and increase yields by up to 30% through precision topographic surveys and advanced field design.
Corteva Announces Hybrid Wheat Technology
Who? Corteva.
What? Launched a non-GMO hybrid wheat technology with higher yields and drought resistance.
Purpose? To improve global wheat production sustainability and food security, with plans to introduce Hard Red Winter wheat in North America by 2027.
Growy Opens Vertical Farm in Singapore
Who? Growy.
What? Opened an 8,000m² vertical farm supplying fresh greens to Singapore’s food service sector.
Purpose? To support Singapore’s food resilience strategy and expand into the retail market by the end of the year.
Verdi Launches Affordable Soil Moisture Kit
Who? Verdi.
What? Introduced the Verdi Multi-Depth Soil Moisture Kit, reducing costs by 80%.
Purpose? To empower farmers with real-time soil moisture data for precision irrigation and better water resource management.
OTHER NEWS
Global AgTech Highlights: Gates Foundation, ISA, Deloitte, Deere, Bayer, ofi, and Lavie Bio Drive Progress
Bill Gates and UAE Partnership: Bill Gates visited the UAE to highlight a $200M partnership for agricultural innovation, showcasing projects like CGIAR AI Hub and AgriLLM.
ISA on Precision Agriculture: The International Society of Automation emphasized control system technologies to advance precision agriculture and sustainability.
Deloitte Report on Food Systems: Deloitte projects a 40% rise in food demand by 2070, advocating for innovation and sustainability in food systems.
Deere & Company Revenue Decline: Deere reported a 47% drop in Q4 net income, driven by lower shipment volumes and market challenges.
Bayer's Project Enhanced S3: Bayer launched a program to help food companies quantify sustainability benefits from regenerative agriculture.
ofi’s 2023 Sustainability Report: ofi showcased progress toward 2030 goals, including regenerative practices and AI-powered beehive projects.
Lavie Bio’s Bio-Fungicide: Lavie Bio developed LAV321, a bio-fungicide showing 70% efficacy against key crop diseases, nearing commercialization.
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