AgTech Digest: Strategic Alliances & Global Growth

This week has been particularly momentous in the ever-evolving landscape of the agricultural industry, marking significant strides in strategic alliances and global expansion. From groundbreaking mergers and dynamic partnerships to substantial funding rounds and innovative projects, the sector is witnessing a transformative wave of change.

This editorial delves into the recent pivotal developments, offering insights into the mergers and acquisitions reshaping market dynamics, the partnerships enhancing data integration and 5G application in agriculture, and the ambitious global projects setting new standards for sustainable farming.

Additionally, we explore the significant investments fueling research and technology, setting the stage for a future where agriculture meets innovation at every turn. Join us as we unpack the details and implications of these industry milestones.

Strategic Alliances and Market Expansion

Mergers & Acquisition

Buhler Industries Partners with ASKO Holding in a Strategic Acquisition

Buhler Industries Inc. enters a transformative phase with Başak Traktör's acquisition. The deal involves Başak Traktör acquiring about 97% of the acquiree's shares for CAD$60.5 million. ASKO Holding views the acquisition as a strategic entry into the North American agricultural equipment market. The future path for Buhler Industries promises innovative growth and enhanced market presence in the agricultural equipment sector.

Partnerships

Farmers Edge & Leaf Agriculture Join Forces for Enhanced Data Integration

Farmers Edge has partnered with Leaf Agriculture to offer farmers more accessible data for informed decisions. The collaboration will enhance machine data integration and streamline operations through advanced technology, reducing manual data entries. The mutual commitment to data transparency and security ensures that farmers have complete control over their data. Industry leaders have expressed enthusiasm for the partnership, which brings additional value to Farmers Edge customers and drives innovation in the sector.

Ericsson & AgriBusiness Connect Forge New Path in Agriculture with 5G

Ericsson and Australian non-profit AgriBusiness Connect have strengthened their partnership to explore 5G applications in agriculture. Under a new Memorandum of Understanding, the partners aim to leverage Ericsson's 5G solutions to accelerate innovative productivity and efficiency solutions for agribusiness and related sectors, positioning Australia at the forefront of Industry 4.0 adoption. The partnership will benefit agribusiness players and organizations involved in processing, packaging, warehousing, and transport, as well as educational initiatives and policymakers' awareness of 5G's potential in agriculture. Ericsson and AgriBusiness Connect are also deploying a Private 5G system at the AgTech & Logistics Hub in the AATLIS precinct, Toowoomba, Queensland, in partnership with Telstra in 2022.

Varda & Pessl Instruments Forge Partnership

The agtech startup, Varda announced a partnership with Pessl Instruments to integrate Varda's Global FieldID™ with Pessl's METOS® portfolio, including weather stations, insect traps, and data loggers. The collaboration enhances field data accessibility, transparency, and provides localized insights for sustainable agriculture.

Funding Round

NewLeaf Symbiotics Secures $45M in Series D Funding

NewLeaf Symbiotics has successfully raised $45 million in a series D financing round led by Gullspång Re:food. The company has seen significant growth in its PPFM technology applications, with a product-applied footprint of around 800,000 acres in 2022 to 11 million acres by 2024. With the new funding, NewLeaf plans to accelerate its efforts in various agricultural technologies, including biostimulants, microbial inoculants, biocontrol solutions, nitrogen use efficiency, and methane mitigation. The company also welcomes Peter Odemark, Managing Director of Re:food, to its Board of Directors.

Global Growth: Expansions and Pioneering Projects

Project

Saudi Arabia’s Largest Indoor Vertical Farming Project

A new indoor vertical farming project has been launched in Riyadh, Saudi Arabia, and it is the largest of its kind in the country. The project combines commercial farming with a center for visitors to dine and explore within view of the farm's operations. Spearheaded by the Vertical Farms Company, the facility will stand 15 meters high and encompass a total growing area of 20,000 square meters across 19 layers. It is scheduled to be completed by July, and farming operations will commence in the second half of 2024.

Expansion

Groundwork Bioag: Expanding Global Footprint in Sustainable Agriculture

Groundwork BioAg® has achieved a significant milestone with the approval of its mycorrhizal inoculant, Rootella®, for commercialization in China, Argentina, and South Africa. This development adds 274 million hectares of cropland to the company’s customer base, responding to the growing demand for sustainable agriculture solutions. The company is collaborating with local partners and conducting trials in key crops. It aims to offer solutions that improve soil health and crop yield and contribute to sustainable harvests.

Investing in the Future: Reports and Research Breakthroughs

Research

Philips Horticulture News: Explores Raspberry Production

The Philips GrowWise Research Center has developed an innovative approach to raspberry cultivation through indoor vertical farming. By using young primocane-fruiting plants and precise climate, lighting, and irrigation control, the yield per square meter was significantly increased, enabling uninterrupted year-round production. However, a second round without cold storage dormancy might not be practical. Further research could lead to even higher yields by exploring the effects of pruning and cold storage on florican production.

Biotalys Latest News: EVOCA™’s Promising Results In U.S. Field Trials

Biotalys has announced the success of its biofungicide candidate, EVOCA, in field trials. EVOCA offers a sustainable and safe alternative to traditional crop protection products against fungal diseases in grapevines and strawberries. The trials were conducted by renowned public institutes in the U.S. and provided detailed insights into EVOCA's performance in different treatment programs. EVOCA is on track for swift approval at the state level, contingent on the U.S. Environmental Protection Agency's federal approval.

Report

AgFunder’s 10-Year Journey in Agrifoodtech Report

AgFunder was founded by Michael Dean and Rob Leclerc a decade ago to enhance investment and innovation in the agriculture and food sectors. Their investment strategies and editorial policies reflect their commitment to objectivity, accuracy, and scientific rigor. AgFunder's special report offers a deep dive into the last ten years of agrifoodtech, including major acquisitions, funding trends, and the evolution of sectors like indoor agriculture and cultivated meat.

Read the report here.