Key Takeaways
- Tropic secures $105 million to scale gene-edited bananas while Saltz.app raises €20 million for food distribution in Europe.
- Mergers and acquisitions include Shinkei Systems’ purchase of a processing plant and Cultivo’s $100 million partnership with Octopus Energy.
- Various funds target water innovation and aquaculture, with Swiss VC Emerald Technology Ventures raising €100 million for Global Water Fund II.
Funding Developments
Tropic has successfully raised $105 million to enhance its gene-editing capabilities for bananas, aiming to introduce TR4-resistant varieties by 2027. In a parallel development, Saltz.app from Vilnius has secured €20 million to improve food distribution across Europe. Swiss startup Seprify has procured $15.7 million to replace titanium dioxide with cellulose materials, receiving additional support from Inter IKEA Group, which invested €13.4 million to further scale the cellulosic platform.
Swedfund has announced an investment in resource efficiency and climate resilience projects aimed at smallholder farmers in India, while Anchr has raised $5.8 million to modernize food distribution processes. In the UK, Cytotrait has secured £3 million for advancing organelle engineering in crops such as wheat, maize, and potatoes. Broccoli side-stream startup UPP has garnered funding to move its automation and ingredient platform toward commercialization.
Mergers, Acquisitions, and Partnerships
In notable mergers and acquisitions, Shinkei Systems has acquired its first processing plant to enhance the nationwide distribution of seremoni-grade fish. Additionally, Cultivo has signed a significant agreement with Octopus Energy Generation, expanding its U.S. grasslands and carbon removal initiatives to a total valuation of $100 million. In Japan, bitBiome has partnered with Kyoritsu Seiyaku to develop innovative biotechnology solutions for animal health.
Investment Funds and Grants
Funding focused on water innovation is gaining traction, as evidenced by Swiss VC Emerald Technology Ventures reaching €100 million for its Global Water Fund II, aimed at sustainable water technologies. Aqua-Spark has reported a $48 million first close on its African aquaculture fund, further emphasizing the sector’s growth. Meanwhile, Hungary has allocated $5 million for the expansion of solar irrigation initiatives in Western Kenya, and the NSW government in Australia is launching a $20 million commercialization fund to support startup development.
Leadership Changes
Millow has announced the appointment of a new CEO, expected to enhance operational leadership. Similarly, Novella has named Antonio Martinez Descalzo as its CEO to spearhead expansion efforts. Meanwhile, Time-travelling Milkman has selected Matthijs Sillevis Smitt as its new CEO as Oleocream transitions into its commercial scale-up phase.
Industry Innovations
Danish firm Insectum is targeting Ghana’s feed market with the launch of a $2.9 million insect protein plant. California Cultured is investing in reusable plastic bioreactors, priced at $3,000 each, to improve the economics of cultured cocoa production. In the UK, Wilbe has opened a new lab in White City, London, aimed at alleviating infrastructure bottlenecks faced by scientific startups. Wisecode has introduced a non-UPF shield designed to redefine ultra-processed food classifications, while Crop Diagnostix has launched an RNA-based early-warning system for crop health monitoring.
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