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Agrotech, Company News, India, Live Stock, Poultry

 Company facilitates traceability of their eggs at every stage of the supply chain, from the farm to the end consumer.

To bring in trust and transparency for the benefit of consumers, OVO Farm, the largest egg producing company of East India is taking the lead in disrupting the egg industry of India with its product and process innovation. The Egg major has recently launched its unique blockchain technology that facilitates traceability of their eggs at every stage of the supply chain, from the farm to the end consumer. OVO Farm, under its flagship brand ‘Kenko’ caters high quality fresh and hygienic eggs whose authenticity could be traced by scanning the QR code available on each product.

Speaking on the vision behind introducing blockchain technology, Samarendra Mishra, Co-Founder & Director of OVO Farm said, “Through our blockchain technology we want to ensure quality and make sure that right products are reaching to our customers. Each of our products has a unique scan code on its label which gives information about the journey of the product right from the producing unit till it reaches customers.”

Kenko, the flagship brand of OVO Farm caters products of 6 varieties including Hi-Pro, Brown, Immuno, MoreOVOr and On-Day which are available in packs of 6, 10 and 20 eggs. Each of its products has its own unique nutritional value, straight from the farm with zero human touch.

Recently, OVO Farm launched its one-of-its-kind flagship store, KENKO AGSTRA, in Nayapalli Bhubaneswar which is Odisha’s first exclusive egg store, catering customers directly from the farm, with a range of nutritious eggs and more. The company has planned to open up stores in every locality of Bhubaneswar in near future.

Apart from the exclusive store, the KENKO products are available to consumers in Bhubaneswar and Kolkata through a wide network of retail shops like general trade retail units and modern trade stores in both cities.

Known for its global standard products, the eggs from OVO Farm have been continuously exported globally including Middle East countries and Africa.

 Company facilitates traceability of their eggs at

Agrotech, Company News, Finance, India, Supply Chain

Enabling smoother financing and advanced technology for food and agri businesses.

 Ayekart, India’s First Integrated tech platform in the food and agri value chain and UBFC (Unnayan Bharat Finance Corporation) has announced their plan to join forces to empower the food and agriculture value chain with technology and finance. The respective managements of both companies have approved the acquisition of a majority stake in UBFC by Ayekart, subject to regulatory approvals.

This strategic acquisition between the two companies will help them ramp up their growth ladder and support each other in enhancing their food and agriculture value chain business with their expertise and services.

Ayekart is known for offering market access, digitising the Agri-value chain, and providing trade credit. Meanwhile, UBFC works in dairy value chain and provides small loans to borrowers who own livestock. The combined strengths of Ayekart and UBFC will help create a more equitable ecosystem for the food and agriculture value chain, providing improved market access, advanced technology, and simplified financing to underserved communities involved in the food and agriculture sector.

Delighted to partner with UBFC and strengthen the overall food and supply ecosystem,  Debarshi Dutta, Founder and CEO of Ayekart, said, “Our vision at Ayekart is to strengthen traditional businesses in the Agri-value chain through finance, technology, and supply chain management. We are excited about this collaboration with UBFC, which will help us propel our efforts in enabling the MSMEs and FPOs, the important pillars of India’s resilient story.”

Together, the two companies will leverage their expertise to enable the food and agriculture value chain with technology and finance, making it easier for businesses to access markets, scale their operations, increase income, and create more job opportunities.

Further to the collaboration with Ayekart, Avneesh Trivedi, Co-founder of UBFC, added, “UBFC has always aimed to adopt a more dynamic approach through a phygital model to address the problems faced by micro and nano businesses in smaller towns and cities. We found synergy with Ayekart, which operates in similar geographies, to fulfil the needs of small businesses across the nation. This partnership will help us achieve mutual objectives.”

Enabling smoother financing and advanced technology for

Agrotech, Company News, India, Sustainable Energy

 Ecofy is targeting 100 Cr financing for rooftop solar during FY24.

 Ecofy, India’s green-only NBFC that is committed to resolving the climate finance gap in the Indian retail sector, joins forces with Tata Power Solar Systems Ltd, India’s largest integrated solar energy company that is on a mission to usher a comprehensive solar revolution across the country. The partnership will help in financing solar solutions like solar rooftops, EPC services, and other innovative solar products for new-age customers that are consciously adopting sustainable and natural modes of energy.

This partnership aims to pave the way for widespread adoption of clean energy throughout the country, while also facilitating a seamless transition to solar energy. In pursuit of this goal, Ecofy will lend to individuals and small businesses that seek to procure various state-of-the-art solar services from the nation’s leading solar energy pioneers, thereby laying the roadmap for a net zero-carbon nation. In addition, this collaboration will enable Ecofy to establish 1500+ installations and reach out to 400+ dealers, distributors, households, commercial spaces, and industries in 7 states namely Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Karnataka, Telangana, and Goa.

Speaking on the partnership, Govind Sankaranarayanan, Co-Founder & COO of Ecofy, said, “The current capacity of Rooftop Solar stands at approximately 9 GW, projected to grow at a 15% CAGR over the next 5 years. Given the thriving solar rooftop market and the government’s robust backing for sustainable energy adoption, this partnership is set to have a substantial impact. Tata Power Solar Systems Ltd is a veritable giant in the industry, and we look forward to working together to drive the extensive adoption of solar energy.”

 Ecofy is targeting 100 Cr financing for

Company News, Foodgrains, India, Sustainability

Dhanuka announces its entry into the agri-biological segment of crop care and crop nutrition products by launching BiologiQ

Dhanuka Agritech announced its entry into the agri-biological segment with the launch of its BiologiQ range of products. BiologiQ is a unique range of sustainable solutions developed with the fusion of traditional science and new-age agriculture practices.

 BiologiQ represents a broad category of crop protection, soil health, and plant nutrition products that are derived from nature. BiologiQ products can be used individually or in combination with conventional chemical products under an Integrated Pest & Nutrition Management (IPNM) plan to produce powerful results for the crop and the soil. BiologiQ portfolio supports the 4Rs – Resistance, Residue, Resurgence, and Soil Rejuvenation management with different action modes, resulting in increased crop yield and farm productivity.

Three introductory products in the BiologiQ range are Whiteaxe biological insecticide, Downil biological fungicide, and Sporenil biological wilticide.

Speaking about BiologiQ, M K Dhanuka, Managing Director of Dhanuka Group said, “We are launching three biological products Whiteaxe, Downil, and Spornil in the bio-agri segment. This segment is increasing globally, and we see good demand for these products in India as well. We hope that in times to come we will be introducing some more biological products in our BiologiQ range.”

‘’BiologiQ will help in filling the gaps that are currently being created by the use of chemical solutions alone. We have seen that our biological products when used alone or alternately with chemical solutions under an integrated plan can produce impactful results. It also helps in addressing resistance building among pests due to regular use of chemicals.’’ said Manoj Varshney, National Marketing Head of Dhanuka Agritech. 

Dhanuka Agritech further strengthened its herbicide portfolio by introducing two selective herbicides Implode and Mesotrax.

With these new introductions, Dhanuka Agritech is optimistic to strengthen its position in the crop care product segment. Dhanuka Agritech has a positive outlook for the agricultural sector in India for FY 2023-24 with new growth plans and a robust product pipeline. Dhanuka will be launching 2 to 3 new 9 (3) molecules for the first time in India. Apart from these, the company will also introduce 3 to 4 molecules under section 9 (4) or co-market them. Dhanuka’s growth story remains strong and consistent as we focus our efforts on serving the needs of Indian farmers.

Dhanuka announces its entry into the agri-biological

Agrotech, Company News, Start ups, Sustainable Energy, World

Combining the versatile capabilities of the Iridium Edge Solar and Laird Connectivity IoT sensors caters to multiple markets

Iridium Communications Inc. has announced a partnership with Laird Connectivity, a global leader in wireless technology, to integrate its low-powered sensors with the self-charging Iridium Edge Solar. Laird Connectivity’s Sentrius BT610 I/O and BT510+ IoT sensors connect to the Iridium Edge Solar over Bluetooth Low Energy (LE), adding a wealth of new capabilities and use cases for wireless, long-lasting remote operations anywhere in the world. As part of this partnership, Laird Connectivity is also now an Iridium Value Added Developer (VAD).

Combining the versatile capabilities of the Iridium Edge Solar and Laird Connectivity IoT sensors caters to multiple markets and use cases ranging from telematics, security and safety, Supervisory Control and Data Acquisition (SCADA), sensor-based applications for industrial purposes, remote IoT applications, maritime applications, and infrastructure. The combination can be adapted to suit almost any application ranging from tank level monitoring, asset tracking, monitoring temperature, detecting motion, sensing a door opening or closing, engine status monitoring, or remote management of fixed assets.

“By leveraging each other’s strengths, Iridium and Laird Connectivity are bringing best-in-class, cutting edge, cost-effective, and scalable capabilities to the market,” said Tim Last, vice president and general manager of IoT, Iridium. “We are excited to offer customers this innovative solution that unlocks the full potential of IoT applications.”

“We are delighted to partner with Iridium to deliver innovative solutions in wireless connectivity,” said Bill Steinike, CEO, of Laird Connectivity. “This partnership helps bring our products and offerings to a larger and more diverse group of customers while accelerating their time to market and improving overall RoI.”

With an easy-to-use mobile application, users can perform over-the-air firmware updates and pair the Iridium Edge Solar with Laird Connectivity’s Bluetooth sensors by simply scanning QR codes. Data from the Laird Connectivity IoT sensors is transmitted to the Iridium Edge Solar and can be sent back to customers securely via Iridium CloudConnect. The ease of use, flexibility and long lifespan of the Iridium Edge Solar and Laird Connectivity IoT sensors provides a streamlined experience for users into the future.

Combining the versatile capabilities of the Iridium

Company News, Finance, World

As a Program Supporter, Ceres joins the Leading Harvest membership that includes farmland managers, suppliers and retailers

Ceres Imaging announced a commitment to increasing the adoption of sustainable agricultural practices by enrolling as a Program Supporter of Leading Harvest, an industry leader in sustainable agriculture. As a Program Supporter, Ceres joins the Leading Harvest membership that includes farmland managers, suppliers, retailers, consumer product companies, investors, and tech innovators with a shared vision of advancing the rigorously vetted and third-party verified Leading Harvest Farmland Management Standard.

Ceres Imaging’s expertise in AI-driven agricultural insights supports the sustainability auditing process for agricultural producers. By streamlining data collection and reporting across entire portfolios of fields, Ceres Imaging can offer a comprehensive body of evidence to support producers’ claims and demonstrate conformance with Leading Harvest’s rigorous standards. By leveraging its AI data platform, Ceres Imaging empowers producers to undergo audits in a cost-effective and consistent manner, while also offering valuable data to substantiate sustainability claims and improve governance. This can streamline the assessment process, reduce internal resource usage, and ultimately, lower costs for producers while maintaining the highest level of integrity and accuracy.

Furthermore, Ceres Imaging’s Portfolio dashboard and in-depth AI provide valuable agronomic insights. The platform can also enable producers to track and optimise their resource management, monitor crop health, and identify opportunities for improved sustainability. The combination of capabilities can contribute to the overall environmental and economic health of the ag sector.

“We are happy to welcome Ceres Imaging as a Program Supporter,” said Kenny Fahey, President & CEO at Leading Harvest. “By bringing together producers, suppliers, retailers, consumer product companies, investors, and tech innovators, our membership drives continuous improvement for sustainability outcomes across the agricultural supply chain.”

“We are thrilled to enrol as a Leading Harvest Program Supporter,” said Ramsey Masri, CEO at Ceres Imaging. “Our crop verification process can be leveraged to help support the goals and initiatives of the program, improving sustainable best practices and building transparent governance within agriculture. Our goal is to empower producers with the capabilities they need to make informed decisions and drive positive change for a healthier world.”

As a Program Supporter, Ceres joins the

Agro chems – Pesticides, Company News, Finance, World

The funding will accelerate the development of Pluton’s flagship product

Pluton Biosciences, a startup leveraging the power of microbes to create cost-effective innovative solutions that address agriculture’s sustainability challenges, announces the close of a $16.5 M Series A funding round. The round was co-led by Illumina Ventures and RA Capital, with participation from existing investors Fall Line Capital, The Grantham Foundation, and First In Ventures, as well as new investors Wollemi, Radicle Growth (first investment from their second fund), and iSelect.

“The funding will accelerate the development of Pluton’s flagship product, the Microbial Cover Crop, through field trials and towards commercial partnerships,” remarked Elizabeth Gallegos, CEO of Pluton. “It will also enable us to expand our team, advance a microbial-derived pesticide to combat the fall armyworm, and harness the full potential of our Micromining platform to swiftly identify tailored solutions for agriculture.”

Illumina Ventures’ Charles Lin, PhD, who has joined Pluton’s Board of Directors, expressed his excitement about the fund’s first AgBio investment, “In the past two decades, we have witnessed how genomics revolutionised the landscape of human diagnostics and therapeutics. We expect genomics also to enable breakthroughs in agriculture. Pluton’s Micromining approach, combining genomics with rigorous data science, can unlock the potential of soil microbes for more sustainable agriculture and beyond.”

“Pluton’s technology will benefit farmers’ bottom lines as well as our environment,” said Michael Gillespie, RA Capital’s, MD, who has also joined Pluton’s Board of Directors. “Microbial Cover Crops will enrich the soil with nitrogen to increase crop yields while reducing fertiliser costs, improving profits and sustainability, limiting erosion, and boosting both soil quality and carbon sequestration. We are proud to support Pluton in their work to improve nature’s toolkit and revolutionise agriculture.”

Concurrent with this investment, agricultural industry veterans Jerry Steiner and Neal Gutterson, Ph.D. also joined Pluton’s Board of Directors. Steiner, Board Executive Chair, is enthusiastic about Pluton’s promise to utilise discoveries to make a positive impact on both agriculture and climate, “Pluton’s vision of using the vast potential of microbial genetic diversity to make agriculture carbon-negative is inspiring. Our Micromining platform enables the vision, with field-level proof for the Microbial Cover Crop product building over the next few years.  This product will complement many other innovations growers can use to improve their farms’ profitability while helping the planet.”

The funding will accelerate the development of

Company News, Finance, India

FY 22-23 net profits rise to Rs 233.51 Cr

Dhanuka Agritech recorded revenues of Rs 371.23 crore for the quarter ending March 31, 2023, an increase of 16.6 per cent over Rs 318.30 crore in the previous fiscal. The company announced its financial results for the fourth quarter of FY 2022-23 ended in March 2023.

Dhanuka Agritech clocked Rs 65.31 crore net profit during the January – March quarter, registering a 20.3 per cent growth over the same quarter of the previous fiscal year. For FY22-23 the net profits stood at Rs 233.51 crore, an increase of 11.8 per cent over last fiscal.

The company recorded revenues of Rs 1700.22 crore for the period ended March 31, 2023, an increase of 15.1 per cent over Rs 1477.78 crore in FY21-22. Profit after tax was Rs 233.51 crore, as compared to 208.78 crore in the previous fiscal.

Commenting on the performance, M. K. Dhanuka, Vice Chairman and Managing Director, Dhanuka Agritech Ltd. said “I am pleased to inform that Dhanuka Agritech has achieved a turnover of 1700 crores first time in its history. The net profits are 233 crores, which is the highest since the inception of the company. This achievement is commendable despite all odds. The rainfall was erratic both in Karif and Rabi seasons. The pest infestation was also low due to which many sprays were missed out by the farmers. Despite these factors, the company was able to post good figures.”

“Although the sky met is forecasting El Nino for the current season.  We hope there is no major impact on the consumption of the products. We expect double-digit volume growth in this financial year.” M. K. Dhanuka said.

The company recently launched new products to augment its offering portfolio and enter the new agri-biological segment with the launch of its BiologiQ range of sustainable agri products. Three introductory products in the BiologiQ range are Whiteaxe biological insecticide, Downil biological fungicide, and Sporenil biological silicide. Apart from these, Dhanuka further strengthened its herbicide portfolio by introducing two selective herbicides Implode and Mesotrax.

FY 22-23 net profits rise to Rs

Company News, Dairy, India, Live Stock, Sustainability, World

The two companies have agreed to form a joint venture to co-develop and jointly invest in 15 to 20 anaerobic digestion facilities targeting nitrogen-rich feedstocks

Ductor, a leading circular biotechnology company within biogas and organic fertilisers, and TotalEnergies, the global multi-energy company, announce a new commercial and financial partnership with joint development of production facilities and TotalEnergies equity ownership in Ductor.

The two companies have agreed to form a joint venture to co-develop and jointly invest in 15 to 20 anaerobic digestion facilities targeting nitrogen-rich feedstocks and organic waste from the agricultural sector and turning this into sustainable organic fertilizers and renewable natural gas.

The facilities will utilise Ductor’s unique and proprietary circular biotechnology already in use at Ductor’s operational plants in Germany and Mexico, capable of processing highly untapped waste streams from the poultry and aquaculture industries, that will help solve today’s environmental challenges in the agri-food sector. The priority geographies for delivering these joint venture projects are the US and Europe.

“Ductor has identified a significant opportunity pipeline for future biogas and sustainable organic fertiliser plants ready for development and commercialisation, and the partnership with TotalEnergies will allow us to move forward with executing that pipeline and towards the construction of the first integrated fertiliser and biogas project,” said Bernard C. Fenner CEO of Ductor .

In the joint venture, Ductor will be responsible for screening opportunities, securing land, feedstock, engineering, obtaining permits, and conducting feasibility studies. TotalEnergies will actively participate in the development, construction, and operational phase, as well as being the off-taker of all produced renewable natural gas and its associated environmental attributes. Ductor will off-take and market the speciality fertilisers such as liquid nitrogen fertilisers produced at the facilities. The product has been registered for use in organic farming by the CDFA – California Department of Food and Agriculture in October 2021.

“We are pleased to partner with Ductor, a young company with an innovative pre-treatment technology that will enable us to develop new biomethane production projects, using organic waste that is currently not, or only slightly, reused. By accelerating the biogas chain, this technology contributes directly to the energy transition and to TotalEnergies’ ambition of producing 20 TWh of biogas worldwide by 2030,” said Olivier Guerrini, Vice President, of Biogas at TotalEnergies.

The two companies have agreed to form

Agrotech, Animal Health, Company News, Live Stock, World

This rigorous feasibility phase demonstrated that a future Friendly cattle tick solution could deliver highly effective R. micro plus population suppression

Oxitec Ltd, the leading developer of insect-based biological solutions to control pests that transmit disease, destroy crops and harm livestock, announced the launch of the development of a targeted, biologically Friendly solution for the world’s most devastating cattle pest, the Asian blue tick, or Rhipicephalus microplus.

In a feasibility project funded by the Bill & Melinda Gates Foundation, Oxitec’s team validated the key methods for developing a Friendly R. microplus and found that, for managing this dangerous tick, this biological approach is anticipated to provide a highly effective alternative to chemical pesticides. The Foundation has now committed $4.8 million to an early development phase to start to build the Friendly R. micro plus solution, Oxitec’s first targeting a non-insect pest.

Launched in 2021, Oxitec’s cattle tick program has conducted in-depth assessments of tick biology and genetics, assessed methods for the development of a Friendly tick solution, artificial production methods, cattle management practices in regions threatened by R. microplus, and modelled the impact of future implementation on target tick populations. This rigorous feasibility phase demonstrated that a future Friendly cattle tick solution could deliver highly effective R. micro plus population suppression and that it represents a promising biological alternative to chemical pesticides. This ground-breaking program will be conducted in collaboration with leading experts at one of the world’s foremost livestock research organisations, the Roslin Institute in Edinburgh, Scotland.

The R. microplus tick blood-feeds on cattle, causing major losses in productivity and animal death by spreading deadly diseases such as babesiosis. Originally native to Asia, the invasive R. microplus is now widely distributed across Africa and Southern and Central America. R. microplus is widely regarded as the world’s most important arthropod pest of cattle, costing the livestock industry and farmers billions of dollars each year. In Brazil alone, this tick costs an estimated $3.2 billion in losses and management costs. Management of R. microplus is highly reliant on chemical acaricides (pesticides), to which the tick is widely resistant. New, sustainable tick management solutions are urgently needed.

Grey Frandsen, Oxitec’s CEO, commented, “Oxitec is committed to delivering solutions that enable sustainable food production for a growing population on this changing planet, which is needed now more than ever to protect global food security. This new program is a significant milestone for Oxitec, enabling us to start building our first Friendly™ product targeting a non-insect pest. The Rhipicephalus microplus tick is a dangerous pest of cattle that threatens livelihoods across the world, and it’s still spreading. More chemical pesticides aren’t the answer. We’re focused on stopping it in its tracks by translating Oxitec’s proven, biological technology platform into a Friendly solution that offers a new level of impact against this tick, without harming the environment.”

This rigorous feasibility phase demonstrated that a

Agro chems – Chemicals, Agro chems – Pesticides, Company News, Finance, Seeds

In FY 2022-23, the company registered Revenue from Operations of Rs 51,397 million, compared to Rs 47,344 million in the previous year.

Bayer CropScience Limited announced its results for the financial year (FY) and quarter ended March 31, 2023. In FY 2022-23, the Company registered Revenue from Operations of Rs 51,397 million, compared to Rs 47,344 million in the previous year, registering an overall revenue growth of 9 per cent. Profit Before Exceptional Items & Tax stood at Rs 8,863 million, compared to Rs 7,883 million in the previous year, representing an increase of 12 per cent. Profit Before Tax (After Exceptional Items) increased by 17 per cent from Rs 8,468 million to Rs 9,901 million.

In Q4 of FY 2022-23, the Company registered Revenue from Operations of Rs 9,825 million, compared to Rs 9,633 million in the corresponding quarter of the previous year, delivering a growth of 2 per cent. Profit Before Exceptional Items & Tax for the quarter stood at Rs1,921 million, compared to Rs 1,895 million in the corresponding quarter of the previous year.

Commenting on the quarterly results, Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Limited said, “Our sales growth in Q4 continued to be driven by strong crop protection sales and consistent performance by our corn seeds business while overcoming some supply constraints faced during the quarter. Although our channel inventory continues to remain at healthy levels, we are witnessing a normalization of Roundup™ prices and availability.”

Speaking on the FY results, Simon Britsch, Chief Financial Officer, Bayer CropScience Limited said, “The steady performance of our crop protection and corn seeds portfolio helped us deliver 9 per cent growth in Revenue from Operations for the financial year. Though headwinds in the form of inflationary pressures led to higher operating expenses, we continued to invest in key initiatives to drive long-term growth. During the year, the company had an exceptional income of Rs 1,038 million arising from the sale of its Environmental Science Business in Q3 of FY 2022-23.”

In FY 2022-23, the company registered Revenue

Agrotech, Company News, Finance, India, Industry Reports / Analysis, Start ups

Rising concerns around the impact of climate change on Indian agriculture have captured the attention of investors.

AgFunder and Omnivore have released the fifth India AgriFoodTech Investment Report, detailing $2.4 billion in startup investment, a 33 per cent year-over-year decline from $3.6 billion in 2021. The decline matches the global downward trend but there were bright spots where investors backed innovations focused on farmers and climate change.

Rising concerns around the impact of climate change on Indian agriculture have captured the attention of investors, catalysing efforts to deliver affordable mitigation and adaptation solutions for smallholder farmers.

Startups innovating upstream, closer to farmers and across the supply chain, bucked the downward trend witnessed globally, raising $617 million, up 50 per cent from $409 million in 2021.

Farmtech investment also remained relatively strong, raising $1.1 billion in 2022, only a modest 15per cent drop from 2021. Agribusiness Marketplaces & Fintech was the most popular upstream category among investors.

Investor interest in downstream, food delivery startups waned with consolidation and little new innovation.

Capital availability in India has tightened along with the rest of the world, although not as steeply as in developed markets. Indian venture investors remain bullish on upstream agrifoodtech innovations – those operating on the farm and in the supply chain – that offer deep moats and deliver affordable solutions to smallholder farmers. In contrast, despite attracting heavy funding over the past few years, investments in downstream startups plunged by 37 per cent in 2022 year-on-year. Once the pandemic lockdowns ended, many downstream ventures struggled to maintain the accelerated pace of growth created by Covid-19 in 2020 and 2021. A highly saturated home delivery market has further reduced investor interest. In the coming months, we expect fewer players to enter the downstream market and more M&A activity among existing companies.

Other key insights in the report:

  • The total number of deals declined to 133 in 2022, compared to 230 in 2021.
  • Meal Marketplaces and eGrocery were the most funded downstream categories yet again. The capital raised by these two categories accounts for 54 per cent of total funding in Indian agrifoodtech, with eGrocery startups landing the highest number of late-stage deals.
  • Downstream startups raised $1.7 billion in 2022, a 37 per cent decrease from $2.6 billion in 2021. Swiggy’s $700 million late-stage deal made up the bulk of investment in this category.
  • eGrocery startups raised $776 million across 20 deals, accounting for 32 per  of overall agrifoodtech funding in India.
  • Midstream Technologies deal activity decreased though the category remains active with $178 million raised across 14 deals.

Michael Dean, founding partner, AgFunder, said: “It is a challenging funding environment for startups globally and, as our report shows, India is no different. The relative increase in upstream financing is a welcome bright spot and reflects the urgency to fund technologies addressing the multiple inefficiencies in our food production and distribution systems that contribute to climate change and hunger.”

Mark Kahn, Managing Partner, Omnivore, said, “Across India’s agrifoodtech ecosystem, 2023 will stress test startups, while also being an ideal vintage for VCs who can enter promising deals at cheap valuations. Despite the transient headwinds, agrifoodtech in India will continue to surge ahead.”

Rising concerns around the impact of climate

Acquaculture, Company News, Live Stock, Supply Chain, World

The facility upcycles fish trimmings by processing them into frozen fish ingredients for pet food manufacturers

Scoular, a global supply chain company, announced that it has acquired Northwest Farm Food Cooperative’s frozen fish processing facility in Burlington.   

The facility upcycles fish trimmings by processing them into frozen fish ingredients for pet food manufacturers. The acquisition complements Scoular’s new joint venture fishmeal processing facility in Warrenton, Oregon. Both facilities strengthen Scoular’s assets and capabilities to serve pet food customers with a sustainable supply of high-quality fish ingredients year-round.  

“We’re excited to welcome the Burlington employees to the Scoular team and look forward to serving existing and new pet food customers as we grow this business,” said Chad Gauger, Scoular Vice President for High Nutritional Value Proteins.   

For decades, Nebraska-based Scoular has provided upcycled fish trimmings through its broad portfolio of products. This latest acquisition enhances Scoular’s product offerings with a supply of high-quality salmon, tuna, sole, cod, hake, and other critical pet food ingredients. 

“Scoular has been working directly with Northwest Farm Food for many years, and they are a well-respected producer of frozen fish ingredients for pet food. We are excited to continue to build on this reputation and for the opportunity to bring new products to the pet food industry,” said Justin Stadden, Scoular’s Frozen Ingredient Commercial Leader.  

The facility upcycles fish trimmings by processing them

Finance, Sustainability, World

FAO Investment Centre’s 2022 Annual Review looks at achievements and priorities

Investment and finance solutions play a critical role in transforming our agrifood systems, especially at a time when multiple shocks keep pushing more people into hunger and poverty.

This is an area where “the FAO Investment Centre is leading that charge,” QU Dongyu, the Director-General of the Food and Agriculture Organisation of the United Nations (FAO), wrote in the foreword of the 2022 Annual Review of the Centre, which for nearly 60 years has been helping countries and financing partners make more and better agri-food investments to reduce poverty, hunger and malnutrition, improve rural livelihoods and protect the environment.

“We must act together – and quickly – to tackle these global challenges for a healthier, more sustainable future that leaves no one behind. That means transforming the way our agrifood systems work, from how we produce, supply and consume our food to how we reduce food losses and waste in our landfills. Ultimately, the goal is to help countries realise the four betters – better production, better nutrition, a better environment and a better life for all,” Qu wrote.

According to the review published, 2022 saw the Centre clock some notable achievements against the backdrop of volatile food, fertiliser and fuel prices, supply chain disruptions, conflict, the climate crisis, humanitarian emergencies and the lingering effects of the COVID-19 pandemic.

Those include support in the design of 45 public investment projects in 32 countries, worth a total of $8.8 billion in new investments – up 22 per cent from the previous year’s $7.2 billion.

They also include investment policy contributions in 65 countries, along with 52 agricultural strategies, 25 sector studies, 17 policy studies and 6 policy dialogues, as well as 54 new knowledge products – from a high-profile study on carbon neutrality in agrifood systems to investing in youth in Africa, among others.

Of particular note was the first Hand-in-Hand Investment Forum, which was held during the 2022 World Food Forum, and matched 20 Hand-in-Hand countries and three regional initiatives with potential investors.

Above all, the Centre entered a transformative period of its own in early 2022 with the launch of its Transformation Plan, the so-called “4+2 solutions,” which seeks to make it even more fit-for-purpose, structured and staffed to respond to the growing and evolving demand from Members and investors.

FAO Investment Centre’s 2022 Annual Review looks