8 notable deals and things to know this week (2023 โ€“ week #49)

๐Ÿ‡ฎ๐Ÿ‡นย ๐ŸŒฑ Planet Farms, an Italian startup, raised $40M to expand its vertical farms in Italy and in the UK. The startup reached a valuation of $500M, something quite noticeable in a market where most vertical farming startups are in a dire situation.

๐Ÿ‡บ๐Ÿ‡ธ ๐Ÿฅ› Ripple Foods, a US-based raised $49M for its line of pea-protein milk and other dairy product alternatives. While the overall plant-based ecosystem is not doing great, sales of plant-based dairy are still growing.

๐Ÿ‡ฎ๐Ÿ‡นย ๐Ÿฝ๏ธย  Soplaya, an Italian startup, raised โ‚ฌ12.5M for its digital procurement solution for the foodservice industry.

๐Ÿ‡ฉ๐Ÿ‡ช ๐ŸŒฑ Quazy Foods, a German startup, raised โ‚ฌ800k to develop ingredients based on microalgae.

๐Ÿ‡บ๐Ÿ‡ธย ๐ŸŒถ๏ธย Truff, a US brand of truffle-based spicy condiments, received funding from the private equity firm founded by Kim Kardashian.

๐Ÿ‡จ๐Ÿ‡ณย ๐Ÿฒ Jack Ma is launching a new startup, Ma’s Kitchen which will sell packaged agriculture products. He already invested $1.4M in the company.

๐Ÿ‡ฌ๐Ÿ‡ง ๐ŸŒฑ Biomel, a British startup, raised ยฃ5.5M for its plant-based gut health products (from drinks to snack bars).

๐Ÿ‡ฎ๐Ÿ‡ฉย ๐Ÿฆ JALA, an Indonesian startup, raised US$13.1M for its solutions for the shrimp farming industry. We observe a growing appetite for solutions/tech providers for the aquaculture industry.

๐Ÿ‡ฐ๐Ÿ‡ชย ๐Ÿ›ฐ๏ธ Amini, a Kenyan startup, raised $4M to provide environmental information to food companies and agricultural insurers in Africa. For now it uses publicly available data, but it wants to launch its own constellation of satellites.

๐Ÿ”ฎ ๐Ÿ“ˆ [New report] FoodTech trends in 2024
๐Ÿš€ The food revolution

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