10 notable deals and things to know this week (2022 – week #49)

๐Ÿ‡ฌ๐Ÿ‡งย  ๐Ÿผย  Huel, the UK-based meal replacement startup, raised $24M. This new round, at a $560M valuation, is quite impressive. It is also a rebuttal to those who thought that meal replacement was dead as a business. For the year ending in July 2022, the company sold for $170M! It should become a case study for all wannabe food entrepreneurs. These figures show that, as for many other businesses, the โ€œwinnerโ€ maybe not be the startup which was there first or which raised the biggest amount of money (in both cases, the US-based Soylent).

๐Ÿ‡บ๐Ÿ‡ธย ๐Ÿฅ”ย ย Full Harvest, a B2B marketplace to connect farmers and produce buyers for imperfect produce, acquired FarmersWeb, a platform used by farmers to manage their sales and inventory.

๐Ÿ‡ซ๐Ÿ‡ทย ๐Ÿบย  Yeasty, a French startup, raised โ‚ฌ1.4M for its solution to upcycle beer yeast into an edible protein. It aims at producing up to 5,000 tons/year by 2025.

๐Ÿ‡ฉ๐Ÿ‡ชย ๐Ÿฅฌย  Infarm, the German indoor farming startup, is announcing a new round of layoffs. It is closing or downsizing half its hubs worldwide. Faced with rising energy costs and a more difficult funding environment, the startup is now focused on finding a path toward profitability. Interestingly, this is presented as a strategy shift (hence finding a path to profitability was not at the heart of the startupโ€™s strategy previously?)

๐Ÿ‡บ๐Ÿ‡ธย  ๐Ÿšœย  Verdant, a US agriculture analytics and plant treatment startup, raised $46.5M. Attached to the back of a tractor, the hardware can detect and eliminate weeds while reducing the amount of chemicals by up to 95%.

๐Ÿ‡ฎ๐Ÿ‡ณย ๐Ÿง‘โ€๐ŸŒพย  DeHaat, an Indian startup, raised $60M for its platforms of services addressed to farmers. It is already helping 1,5 million of them to find raw materials, advice, and sell crops.

๐Ÿ‡ฎ๐Ÿ‡ฑย ๐Ÿย  BeeHero, an Israeli startup, raised $42M for its solution of precision pollination.

๐Ÿ‡ฌ๐Ÿ‡งย ๐Ÿฆ ย  Zoe, a UK-based startup, raised ยฃ25M for its precision nutrition platform.

๐Ÿ‡ณ๐Ÿ‡ฌย  ๐Ÿฝ๏ธย  Orda, a Nigerian startup, raised $3.4M for its solution to help African restaurants to digitize from the point of sale the inventory.

๐Ÿ‡ซ๐Ÿ‡ทย ๐Ÿ’งย Microphyt, the French startup using algae to create new ingredients, raised โ‚ฌ15M, notably from Lโ€™Orรฉal. ย As for other startups, it shows how ingredient startups have a stronger path for their growth in beauty products rather than food, at least in the first stages.

๐Ÿ‡ฎ๐Ÿ‡ฑ FoodTech in Isreal: get your hands on the best startups
๐Ÿค– Why food robot startups fail?

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