The Week in Agrifoodtech: new investments in alternative fat, Kroger buying Albertsons, Beyond Meat cuts 200 jobs

Foodtech funding

🇦🇺 Nourish Ingredients snags $28.6 million Series A for animal-free alternative fat. Horizons Ventures led the round with support from Main Sequence Ventures and Hostplus. (Startup Daily)

🇪🇬 B2B e-commerce platform MaxAB closes $40 million pre-series B round. MaxAB will expand its platform connecting suppliers and small grocery retailers across the MENAP region. (PYMNTS)

🇬🇧 Hoxton Farms raises $22 million to build a pilot facility for cultivated alternative fat. Collaborative Fund and Fine Structure Ventures co-led the Series A round, which also included participation from AgFunder, Founders Fund & others. (Reuters) [Disclosure: AFN’s parent company is AgFunder.] 🇺🇸 Bio-manufacturing finance and development platform Synonym secures $6.3 million pre-seed round.

Andreessen Horowitz, Giant Ventures, Blue Horizon and others participated. (Green Queen) 🇮🇩 B2B catering service Waku bags $1 million seed round. Nasa Ventures led the round and was joined by 11th Space Indonesia. (Tech in Asia)

🇸🇰 Peelo raises undisclosed seed round from Rockstart and CB Investment Management. Peelo makes a natural, reusable, washable, and compostable alternative to plastic food wrap. (Rockstart)

🇺🇸 Wilkinson Baking Company raises $3 million for its commercial bread-baking robot. Ken Peterson of Columbia Ventures Corporation and Rich Product Ventures led the seed round. (Food Business News)

Agtech funding

🇺🇸 Nitricity closes $20 million Series A for its climate-friendly nitrogen production technology.

Khosla Ventures and Fine Structure Ventures led the round. (AFN) 🇺🇸 Lithos Carbon captures $6.3 million in seed funding. Union Square Ventures and Greylock Partners co-led the round for Lithos to help farmers sequester more carbon on their farms. (TechCrunch)

🇺🇸 Precision sprayer for orchards and vines Smart Apply lands $3 million. Serra Ventures led the seed round, which will go towards new hires and expanding manufacturing capacity. (The Silicon Valley Journals)

M&A, IPOs & partnerships

🇺🇸 Kroger acquiring Albertsons for $26.4 billion.

With the deal, Kroger will solidify its position as the second-largest food retailer in the US behind Walmart. (Food Navigator) 🇧🇷 🇨🇱 🇵🇪 Inputs retailer Lavoro to acquire NS Agro as part of LatAm expansion plan. NS Agro is a holding company of agricultural inputs retailers in Chile and Peru. (BusinessWire)

🇨🇭 🇺🇸 Nestlé buys Seattle’s Best Coffee from Starbucks for undisclosed sum. The deal is expected to close by the end of this year. (Food Dive)