Innovative Agtech and Foodtech Updates Amidst Challenging Fundraising Landscape
Key Ideas
  • VSParticle raises €6.5M to accelerate green hydrogen production, highlighting a focus on sustainable energy solutions.
  • Plonts secures $12m for plant-based cheese, showing continued support for alternative food products.
  • EIT Food and Foundation Earth collaborate to set new industry standards for environmental scoring in food production.
  • Several notable people moves in the agtech sector, including new CEO appointments and executive hires.
This week showcased limited fundraising activities amidst the August holidays and difficult fundraising conditions. Notable developments included Netherlands-based VSParticle securing €6.5 million to advance their nanoparticle synthesis technology aimed at speeding up green hydrogen production. In the foodtech sector, Plonts received $12 million in seed funding to launch plant-based cheese in New York and San Francisco. Partnerships were a key theme, with EIT Food and Foundation Earth teaming up to establish universal environmental scoring standards for food products. Meanwhile, BioLumic collaborated with major seed companies to enhance corn productivity using UV light, and CH4 Global signed an offtake deal to reduce enteric methane with seaweed supplements. Funds and grants were also in focus, such as Lavoro announcing a new R$310 million 3-year FIDC-Fiagro credit facility. In the people moves category, notable appointments included Sprout Agritech's new CEO and Connecterra's senior product manager. While the industry saw positive advancements, challenges were evident as seen in the closure of the kelp burger startup Akua and the delisting of Presto Automation from Nasdaq. Overall, the agtech and foodtech sectors remain dynamic and innovative, with a strong emphasis on sustainability and technological advancements.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.