10 notable deals and things to know this week (2024 โ€“ week #3)

๐Ÿ‡ณ๐Ÿ‡ฑ ๐Ÿ›’ย Picnic, a Dutch online grocer, raised โ‚ฌ355Mย to boost its growth in France and Germany. Picnic is an impressive (and rare) example of a startup succeeding in the grocery delivery market. And, unlike its now-forgotten quick-commerce competitors, it can be profitable by delivering food the next day (rather than in 15 minutes).

๐Ÿ‡บ๐Ÿ‡ธ๐Ÿค– Burro, an American startup, raised $24M for its agricultural robots that come alongside humans to move plants and produce.

๐Ÿ‡ช๐Ÿ‡ธย ๐Ÿฅฉย RIP, a Spanish plant-based meat startup focused on Asian-inspired foodservice products, is shutting down. Beyond this example, this shows how difficult things are for a large part of the โ€œthird waveโ€ of plant-based products, which targeted niche markets (either through specialising in specific types of products, often also with higher-quality recipes).

๐ŸŒย ๐Ÿ’‰ย GLP-1 weight-loss drugs such as Ozempic are creating a wave of concern among fast-food chains and ultra-processed CPG brands. Others see them as an opportunity and are already planning โ€œcompanion productsโ€ to go alongside the drug and support consumers in their journey.

๐Ÿ‡ง๐Ÿ‡ฌ ๐Ÿ› Nasekomo, a Bulgarian startup, raised โ‚ฌ8M to scale its animal-feed insect farms across Europe. Unlike the biggest players in the insect space, which are (mostly unsuccessfully) developing large production facilities, Nasekomo wants to create a franchising model with decentralised farms.

๐Ÿ‡ซ๐Ÿ‡ฎย ๐Ÿญย Enifer, a Finnish startup, obtained a โ‚ฌ12M grant (from Finnish authorities) to build its first mycoprotein ingredient factory. With it, the startup will be able to produce 300,000 tons annually.

๐Ÿ‡ฌ๐Ÿ‡ง ๐ŸŒฑย Fa Bio, a UK-based startup, raised ยฃ5.3Mย for its bioproducts, which can boost crop productivity while reducing the need for chemical fertilisers.

๐Ÿ‡ฌ๐Ÿ‡ง ๐Ÿฅƒ Bevvy, a UK-based startup, raised $1.5M for its whisky app, enabling consumers to scan any whiskey bottle’s label using their mobile phones to receive tasting notes and valuations. However, after testing the app with 10 bottles, 3 were not recognised. So, not so helpful yet.

๐Ÿ‡ฎ๐Ÿ‡น ๐Ÿ„ย Mogu, an Italian biotech startup, raised โ‚ฌ11Mย for its mycelium-based biomaterials production.

๐Ÿ‡ฎ๐Ÿ‡ฑ๐Ÿฅ›Imagindairy, an Israeli startup, obtained US regulatory approval to sell its precision fermentation whey protein.

๐Ÿ“Š Global FoodTech investments & top deals for 2023
๐Ÿ”ฎ DigitalFoodLab's five predictions for 2024

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