AgFunderNews roundup: DoorDash to buy Instacart, Terradot raises $34M
The agtech and foodtech news roundup reports that DoorDash will acquire Instacart for $17 billion, alongside several startup funding deals. Terradot secured $34 million in debt, and Biosphere won a Pentagon contract.
AgFunderNews, a trade outlet covering agricultural and food technology (agtech and foodtech), has published its latest roundup of funding rounds, acquisitions and industry developments. It reports that delivery platform DoorDash will buy grocery delivery company Instacart for $17 billion, uniting two US delivery businesses.
Startup funding
US firm Terradot, which develops carbon removal projects, closed a $34 million debt deal. UK-based Epoch raised $4.25 million to help small and medium-sized businesses comply with the EU regulation on supply chain deforestation (EUDR). Seattle agtech startup Strella also landed $4.25 million.
Japan's OC Global made a strategic investment in Vietnam's ECONUTI. Dutch company FLTRD raised more than €500,000 to expand across Europe as Brussels scrutinises ultra-processed food. German lab-grown milk startup Senara received an investment from LIOF, while Japan's IntegriCulture secured backing from Niigata to build cell agriculture around Japan's brewing industry.
Funds and people moves
Ground Up Investing reached a first close on a $20 million agricultural debt fund. Startup Biosphere won a Pentagon contract to scale up production of key chemicals. Kalon Armstrong was named managing director for Canada at Nofence, and Luke J. Lindberg was appointed executive director of the World Food Programme.
Other news
ADM and Concern Worldwide are expanding their Kenya farmer program to reach 17,500 smallholders. Oishii is bringing its indoor-grown strawberries to Walmart, while Finnish insect protein firm Volare opened a 5,000-ton protein factory and is exploring a second plant. Formo and Those Vegan Cowboys secured an FDA GRAS letter to sell cow-free casein in the US.
