🇫🇮💡 Solar Foods, a Finnish startup, raised €8.8M. Solar Foods is known for its biomass fermentation technology that “transforms” captured CO2 into a carbon-negative source of protein. With this funding, the startup will move forward on its demonstration facility.
🇸🇪🍽️ Matsmart (also known as Motatos), a Swedish startup, raised €40M for its food grocery e-commerce that sells overstock dry food products. Raising that much money for online grocery delivery in the current context is quite impressive. The startup is said to be on an annual run rate of about €100M.
🇫🇷🥚 Circul’Egg, a French startup, raised €5M to upcycle egg membranes and shells. We observe a growing trend around upcycling, which is becoming more and more B2B (like the rest of the food science ecosystem). We observe that currently, many B2C startups with CPG products mostly made of upcycled ingredients are failing, as their products don’t appeal to consumers (they are often more expensive and are not always delicious).
🇫🇷💡 RED Horticulture, a French startup, raised €17M for its LED solutions for indoor farming. This confirms the indoor farming ecosystem shift from startups being farm operators to tech providers.
🇫🇷 🍽️ Malou, a French startup, raised €10M for its digital solutions, enabling restaurateurs to manage their online presence and image. The story behind this startup is quite noticeable: it “pivoted” from being an agency to becoming a SaaS provider. Maybe we should do the same with DigitalFoodLab. 🙂
🇺🇸 🍓 Ryp Labs, an American startup, raised $8.1M to fight food waste with stickers that it put on produce and which extend the shelf life of fruits and vegetables.
🇳🇬 🧺 Pricepally, a Nigerian startup, raised $1.3M to grow its online grocery delivery operations.
🇫🇷 🍽️ Foodjer, a French startup, raised €1.1M for its virtual restaurant brands.