Agrimedia’s Post

This year is going to be painful for many agrifoodtech companies, but it will also be an incredible year to invest in new companies that have been forced to rethink their business models, writes AgFunder News editor, Louisa Burwood-Taylor. #AGFUNDERGLOBAL24 #AgriFoodTech #foodtech #agtech #agritech #investment #funding #startups #innovation #venturecapital #VC #AgFunder #AgFunderNews⁠ ⁠ AgriFutures Australia | AgriFutures evokeAG | AgriFutures growAG Nium | Rarebird, Inc. | GOTERRA | Atinary Technologies | Africa: The Big Deal | Bits x Bites | Briter | Crunchbase | Dsight | Glocal | Omnivore | ReFED | ShakeUp Factory | SP Ventures | Sopoong Ventures

“It’s not just a financial collaboration as with a traditional venture capitalist whose central goal is to reap the returns on its investment. For us it's more about the strategic value it can bring and is collaboration of efforts,” – Hadar Sutovsky The growing consumer demand for sustainable food is leading more corporations to invest in startups with innovative solutions to meet the demands. When done right, the rewards of these strategic investments can be incredible for all parties involved. In light of the upcoming F&A Next Summit in the Netherlands on 22-23 May, ICL Planet was interviewed about how we create win-win dynamics with our startups. Read the full interview here>> https://lnkd.in/deKXTVFt #AgriFood #AgriTech #FoodTech #Startups #VCFunding #SustainableFood #Collaboration

Another big week for ANZ startups! Eloise Keating recently highlighted in Smart Company an incredible lineup of Australian and New Zealand startups that collectively raised $36.4 million. From Perth to regional NSW and across to New Zealand, it’s inspiring to see such a diverse range of startups making waves and attracting significant investment. Marmalade - Bagged $16 million to further develop its invoice payment platform for SMEs, making it easier for businesses to manage cash flow. Cauldron Ferm - Raised $9.5 million in Series A funding. This precision fermentation startup is tackling everything from biofuels to cosmetics, showcasing the versatility of biotech. Prophet - Secured $5 million in seed funding. They’re on a mission to revolutionise digital advertising with predictive intelligence and advanced maths. Hola Health - Raised $4.5 million in pre-series A funding. This Perth-based telehealth startup is making fast, affordable healthcare accessible to all Australians. Buddy - This New Zealand-based metal recyclables marketplace raised $1.4 million, aiming to digitise and streamline the scrap metal trade. Read more 👇 https://lnkd.in/geH9bYFw Hao N. Steve Grace Nicolle Hann-Dunbavin TNG Media The Nudge Group

I recently caught up with Hugo Garduño Ortega, co-founder of Verqor. I first met him in 2018 when Verqor joined the 1st cohort of the 100+ Accelerator. The company has pivoted multiple times since then, and the founders, Hugo Garduño Ortega and Valentina Rogacheva have learned a lot. In 2018, Verqor was nothing more than a pitch deck and a dream: to help Mexican farmers get financing. The company is now scaling. Two things I want to highlight: 1. Startups can be built anywhere 2. Startup "rules" are meant to be broken Verqor is based in Mexico, which is not the biggest startup hub. But to build this company, you have to be on the ground with your customers. Is it tougher to build a startup outside of a major hub? Sure. You'll have less access to talent, capital, customers, partners, etc. But it is possible. There's no formula for success. But we wish there was! This leads to blindly following what has supposedly worked for others. Verqor forged their own path and did things differently. ➡ Rule: Don't start a company without industry expertise or past founder experience. That makes perfect sense! But if everyone followed that a lot of great startups wouldn't be created. Hugo and Valentina were not ag experts, but they had a passion for solving a huge pain point. ➡ Rule: Don't work with big companies early, they're too slow. Big companies are slow compared to startups. But the 100+ Accelerator was the perfect "vehicle" for collaboration between Verqor and AB InBev. ➡ Rule: Don't raise strategic / corporate venture capital, it's a bad signal early on. I've heard this countless times. Meanwhile Verqor raised their last financing round from Yara Growth Ventures, the CVC of Yara International ASA (a crop nutrition and ag company from Norway). ➡ Rule: Don't build a "big" MVP, it's too complicated and takes too long to develop. This is definitely scary. Founders love over-building. Verqor had to build a fairly complex MVP b/c they realized they had to integrate all stakeholders in the supply chain. They couldn't just lend money to farmers. They had to bring in input manufacturers, so farmers could buy inputs through the app. They had to bring in off-takers/crop buyers, so when they purchased the crops (through the app), Verqor could recover their loan first. It took Hugo and Valentina a lot of research, experimentation and learning to realize that their true MVP had to be complex; but it's actually beautifully simple in that complexity. ➡ Rule: Don't marry your co-founder. 🤣 OK, I don't know if this is a rule, but startups built by couples are rare. I've heard VCs say "I won't invest in a founding team that's together, it's too risky." Meanwhile Hugo and Valentina have been together and building Verqor for 6 years! I love the story of Verqor b/c it's the story of true founders, finding a problem, digging deep, stumbling, pivoting, persevering and figuring things out. Verqor is now scaling and having a real impact on farmers' lives.

#Startups this week collectively raised an investment of US$ 157.5M in over 26 deals across multiple sectors: #Agriculture, #Rental services, #Financial services, #Sports, #SaaS/AI, #EV, etc. Dvara KGFS, an agent-based and correspondent banking solutions, raised US$ 27M led by FMO - Dutch entrepreneurial development bank Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V, and Enabling Qapital AG Ltd Luxembourg SA. RentoMojo, an online rental platform offering multi-category home improvement products, raised US$ 25.3M led by Edelweiss Financial Services Limited Discovery Fund Series – I, Chiratae Ventures Growth Fund, and MAGNETIC. WALKO QSR COMPANY PRIVATE LIMITED, a brand of ice creams, kulfis, and frozen dessert products, raised US$ 20M led by Jungle Ventures. Orkes, a platform that enables you to run your Microservices and Workflow Orchestration at scale reliably, raised US$ 20M led by Nexus Venture Partners, Battery Ventures, and Vertex Ventures US.   VidyutTech, a provider of financing services for multi-category electric vehicles, raised US$ 10M led by 3one4 Capital, Saison Capital, Zephyr Peacock India, Force Ventures LLP, and Alteria Capital.   Other notable investments include: 🎯Samunnati, an agriculture value chain service provider, raised US$ 9M led by Impact Investment Exchange (IIX). 🎯Varaha, a SaaS-based platform offering solutions to offset the carbon footprint, raised US$ 8.7M led by RTP Global, Omnivore, Orios Venture Partners, Japanese Cooperative Bank, and Norinchukin Bank. 🎯PURE EV®, a manufacturer of electric two-wheelers, raised US$ 8M led by Bennett Coleman and Company Ltd Ltd, Hindustan Times Media Ventures, and Ushodaya Enterprises Pvt Ltd. 🎯FlexiLoans, a fintech lender focusing on Micro, Small, and Medium Enterprises (MSMEs), raised US$ 7.24M led by Vivriti Asset Management. 🎯Pratech Brands Pvt. Ltd., a digital-first retailer behind HyugaLife, raised US$ 6.3M led by Spring Marketing Capital, Stride Ventures , Oorumane Mercantile, Patni Wealth Advisors Limited, Nihir Parikh, and Dhaval Parikh. 🎯Ghost Kitchens India, a virtual restaurant brand curator, raised US$ 5M led by NB Ventures, LetsVenture, Dholakia Vetures, Rana Daggubati, Lead Angels, and Yuj. Follow 1Lattice for more weekly #funding insights! #EnablingBetterDecisions #Investments #StartupFunding Amar Choudhary Hitesh Gossain Praneet Singhal Roma Dixit

Even in a challenging funding market, venture capital funding continues to expand globally, as detailed in this TechCrunch article - featuring Endeavor CEO Linda Rottenberg. From the article: "Venture capital has become a more global industry as the tech sector slowly decentralizes. In 2022, more than 50% of VC deployed globally was invested in startups outside the U.S., according to data available from the National Science Foundation (NSF) — a stark contrast to 20 years ago, when nearly 80% of the world’s venture capital went into U.S. companies." Obviously, great ideas paired with great businesses are not limited to the Bay Area. However, historically, funding has been focused there. It is encouraging to see early and growth stage capital markets begin to deepen even further around the globe. Endeavor Colorado is grateful to be playing a part. Zeb King Tegan Stanbach Kathryn Dickson #privateequity #venturecapital #entrepreneurship #investing #innovation #founders #startups https://lnkd.in/gXtw4s6e

Did you know?  #esgnepal #sustainability #impact #ImpactInvesting #SocialImpact #SustainableFinance #startup #ResponsibleInvesting #RockefellerFoundation #ESGInvesting #SociallyResponsibleInvesting

🚀 We are delighted to announce the launch of Harvest Horizons powered by SVG Ventures | THRIVE and JETRO Startup —a groundbreaking program dedicated to propelling #Japanese #agrifoodtech #startups into global markets. In partnership with JETRO - Japan External Trade Organization , SVG Ventures | THRIVE will provide these startups with the market insights, strategy, and global connections they need to succeed internationally. SVG Ventures | THRIVE brings unmatched expertise and a history of success in the agri-food tech sector to the program. With over 10 years of experience and a stellar track record in investing and running accelerators for early-stage companies, THRIVE has earned its place as the top Agri-food Accelerator, as recognized by AgFunder. THRIVE’s extensive global network of investors and business partners, developed over the past decade, provides invaluable opportunities for Japanese startups. Beyond their network, THRIVE’s mentor program and internal team boasting deep domain expertise in agri-food tech, business development, investment, startup acceleration, and open innovation are invaluable assets for participants. THRIVE has a long fruitful history of collaborating with Japanese partners including Kubota Corporation, Yamaha Motor Ventures, NEC Corporation NECx Kagome USA, Inc. and more. Many of these partners are keen to support the program through mentoring, amplifying the opportunity for participant companies. “We’re thrilled to partner with JETRO to launch “Harvest Horizons”, a program that will empower Japanese startups with the tools, knowledge, and global connections they need to scale their innovations worldwide. Our extensive experience in agri-food tech, coupled with our robust network, positions us to provide unparalleled support to these companies as they embark on their journey of global expansion. This collaboration not only highlights the immense potential within the Japanese agri-food tech ecosystem but also underscores our commitment to fostering innovation that addresses the world’s most pressing agricultural challenges.” John Hartnett, Founder and CEO SVG Ventures|THRIVE. “By partnering with SVG Ventures | THRIVE, we aim to leverage their extensive network to establish a robust presence of Japanese agri-food tech startups in the US market,” said Yusuke Kaga, JETRO Startup. “With high standards of quality control, a supportive innovation ecosystem and robust deeptech assets, Japanese agri-food tech startups are well-equipped to bring their reliable and high-quality products/services to the US market” Read the full press release to learn more: https://lnkd.in/gx2rPheM J-StarX JETRO Startup #AgriTech #Innovation #GlobalStartups #FoodTech #JapanTech

How to foster innovation - here a great article on CVC! ✨️ The innovation company Metsä Spring within Metsä Group acts in this field. ✨️ Good comments from CEO Niklas von Weymarn below in the post. 👇 #Innovation #CVC #Future #GrowthWithAFuture #Metsä #Strategy #ESG #Growth #Regenerative #ForestIndustry #Renewal

🚀 #Funding Roundup!!! Zepto has secured $340 Mn in a 'follow-on financing' round led by General Catalyst. The funding round saw the arrival of new investors such as Dragon Fund, Mars Growth Capital and EPIQ Capital Group. Founded by Aadit Palicha and Kaivalya V. the funds will help Zepto strengthen its balance sheet for its planned IPO and rapid expansion, aiming to double its number of warehouses to 700 by March 2025. #B2B agri-tech startup AGRIM raised $17.3 Mn in its Series B round, led by Asia Impact, with participation from Kalaari Capital, Omnivore, IndiaQuotient, and Accion Venture Lab. Founded by Mukul Garg and Avi Jain, AGRIM connects farmers and #agri-input retailers directly to manufacturers for procuring seeds and pesticides. Magic, an #AI startup specializing in automating code generation and software development, raised $320 Mn in a round led by former #Google CEO Eric Schmidt. Backed by investors like Elad Gil, Nat Friedman, Daniel Gross, and Sequoia. Founded by Eric Steinberger and Sebastian De Ro, Magic develops AI-driven tools that assist software engineers in coding, reviewing, debugging, and project planning, functioning as an automated pair programmer. Inventive AI has raised $4 Mn in seed funding, led by SIERRA Ventures with participation from Y Combinator, Soma Capital, and General Catalyst. Founded by Dhiren Bhatia, Gaurav Nemade, and Vishakh Hegde, Inventive AI’s platform leverages generative AI to streamline RFP workflows, reducing manual effort and helping businesses respond to RFPs more efficiently. BigEndian Semiconductors, raised $3 Mn in a round led by Vertex Ventures SE Asia & India. Founded by Kumar, Renuka Prasad, Harpreet Wadhawan, Dinesh Annayya, Kanagaraju Ponnusamy, and Jansen Cheng, BigEndian focuses on developing indigenous semiconductor IP, with plans to release a surveillance system-on-chip (SoC) solution. #D2C nutrition brand Nutrabay raised $5 Mn in a Pre-Series A round led by RPSG Capital Ventures , alongside existing investors such as Kotak Alternate Asset Managers Limited. The company, founded by Divay Jain, Sharad Jain, and Shreyans Jain, plans to use the funds to expand its omni-channel presence and drive product innovation, offering supplements across more than 100 brands and its own private label. Treble Technologies, a startup specializing in sound simulation technology, secured €11 Mn in Series A funding led by KOMPAS VC. The round included participation from Icelandic VC Frumtak Ventures, the European Investment Council (EIC), and strategic partners such as St. Gobain & L-Acoustics. Founded by Finnur Pind and Jesper Pedersen, Treble, develops a cloud-based platform for sound simulation in buildings, cars, and tech products. The funds will be used to grow the team, enhance R&D, and explore new markets like automotive, #gaming, and the #metaverse to create immersive audio experiences. #AnzyGlobal #Fundingnews #investment #HR #Hiring