Equilibrium Capital has closed its second fund dedicated to indoor agriculture. The Controlled Environment Foods Fund II (CEFF II) raised a total of $1.02 billion, exceeding its original goal of $500 million. Speaking in a company blog post, Equilibrium CEO David Chen said that the fundraising for CEFF II reflects a broader shift where larger…
One year ago, Euromonitor International predicted the ghost kitchen market could be worth $1 trillion by 2030. The prediction, made by Euromonitor’s Global Lead for Food & Beverage Michael Schaefer, reverberated around a restaurant industry that was still deep in the midst of dining room shutdowns and restrictions related to a global pandemic. Little wonder…
Welcome to your weekly Food Tech News round-up, where we gather interesting pieces of news you might have missed this week: Edible artwork is now growing at the Gagosian gallery in New York City A small, but fully functional, indoor urban farm is now on display at the Gagosian Gallery’s New York City location. The…
Canada’s P&P Optica (PPO) has raised an undisclosed amount of Series B funding for its food safety inspection technology, which uses hyperspectral imaging to gather quality metrics on the food inside of processing plants. The round was led by Ag Capital Canada, with new investor Synovus Family Office as well as existing investors Fulcrum Global…
Five early-stage indoor agriculture companies will participate in the ninth cohort of the Wells Fargo Innovation Incubator (IN2), which works with cleantech companies and entrepreneurs across food and housing sectors. Chosen participants for this cohort will focus on tools and processes that can make indoor farming more environmentally and financially sustainable. The Wells Fargo Foundation…
Instawork, an online marketplace that connects local businesses across the U.S. with available workers, announced today that it has raised a $60 million Series C round of funding. The round was led by Craft Ventures with participation from Grelock, Corner Ventures, Four River Group, WndrCo and Tilman Fertitta (owner of Landry’s and the Houston Rockets).…
Relish.com, a web app created by Fexy Media for meal planning, recipes, and grocery shopping, announced today that it has launched a premium feature called Relish+. The new service will now allow users to have access to a library of over 100 meal plans for a monthly fee starting at $3.75. The new meal plans…
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Cultivated meat company Aleph Farms announced today it has completed a $105 million Series B round of funding, bringing the company’s total funding to date to $118 million. The Series B round was led by L Catterton and DisruptAD with participation from Skyviews Life Science, Thai Union, BRF, and CJ CheilJedang. Existing investors VisVires New…
Colorado-based Meati produces whole cuts of meat alternative analogs from mycelium, and today the start-up announced that it has raised $50 million in its series B round (news from Forbes). The round was led by Acre Venture Partners and BOND, with participation from Prelude Ventures, Congruent Ventures, and Tao Capital. This brings the company’s total…
Virtual restaurant company C3 (Creating Culinary Communities) has raised an $80 million Series B funding round co-led by Brookfield Asset Management and REEF Technology. Egon Durban and Greg Mondre Managing Partners and Co-CEOs of Silver Lake Partners, along with Dean Adler, Co-Founder of real estate investment firm Lubert-Adler. C3’s business these days is as much…
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Israel-based alt-protein company MeaTech 3D has begun research and development activities around cultivated pork, the company announced today. Initial activities will focus largely on developing porcine cell lines, which the company says could expand its number of potential addressable markets since pork is the most widely consumed meat in the world. The porcine cell lines…
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Agriculture may have been slower to digitize than other parts of the food sector, but these days a lot of folks would agree artificial intelligence, automation, and other technologies have a role to play in the future of farming. The presence of such things means farming will soon require lots of new skills, which in…