In M&A news, VFC Foods acquired a majority stake in plant-based food company Clive’s Purely Plants, and Tempo Group bought healthy snack brand Nourish. The EU Horizon's DRG4Food accelerator launched its first open call of €950,000 to support three projects developing data sharing systems for agrifood. Other news includes the California Food Safety Act banning four ingredients from 2024, and Gotham Greens opening a 210,000 sq ft facility in Georgia.
Key takeaways:
- India’s SAEL, a company converting agricultural waste into renewable energy, received the largest funding round this week with a $60 million investment from Norfund's Norwegian Climate Investment Fund.
- Other significant investments included BlueNalu's $33.5 million series B round for cultivated fish production, and Bon Vivant's $15.9 million funding for animal-free dairy protein.
- The California Food Safety Act has become law, banning four ingredients including brominated vegetable oil and Red Dye No. 3 from January 1, 2024.
- Several partnerships and acquisitions were announced, including VFC Foods acquiring a majority stake in plant-based food company Clive’s Purely Plants, and robotics company Mycionics teaming up with farm equipment company Christiaens Group for robotic mushroom harvesting.