The Week in AgriFoodTech: GrainChain raises $29m, Brigad bags $30m, AeroFarms & iFarm head to MENA

Weekly agrifoodtech roundup reporting numerous funding rounds including Loam Bio's Series B and SwarmFarm's Series A, plus partnerships, OrderEZ acquiring FoodRazor, and vertical farming expansion into the Middle East.

Also SmartCompany

FBN appoints Temasek’s John Vaske as new CEO, co-founder Amol Deshpande steps down

Agtech firm Farmers Business Network hands its top job to Temasek executive John Vaske in April, while co-founder and longtime chief Amol Deshpande departs to weigh new ventures.

Brief: SwarmFarm lands $8.3m to move autonomous farming beyond driverless tractors

SwarmFarm raised a Series A for its autonomous farming platform, led by Conexus Venture Capital's Emmertech fund, with existing backers also participating, to further develop its hardware-software system.

Also AgFunderNews·SmartCompany·SmartCompany·AgFunderNews

Investment insights platform NetworksX lands $610,000 Seed round

Investment research platform NetworksX has raised $610,000 in seed funding, led by Pitch Venture Capital and European investors, to grow its operations, automation and services for investors.

Business lender Shift banks $27 million from Sequoia Capital

Sydney small-business lender Shift, once known as GetCapital, has secured a Series C worth $27 million, with Sequoia Capital Southeast Asia heading the round and earlier backers also taking part.

Also Australian FinTech·SmartCompany·SmartCompany·Australian FinTech

One step closer towards Australia’s first commercial scale concentrated solar power plant

ARENA approves A$65 million for Vast Solar's Port Augusta solar power plant, with earlier pilot funding and HyGATE support for a solar methanol facility also recalled.

Also @AuManufacturing·RenewEconomy·@AuManufacturing·RenewEconomy·RenewEconomy·@AuManufacturing

R&D financing explained: what your venture needs to know

Radium Capital's explainer on R&D financing describes how ventures including Juice Batteries, Recce Pharmaceuticals, SSW Dairy, Linecrest, NeedleCalm and iCommand used Radium Advances against their R&D tax refunds as non-dilutive debt capital.

Impact investing via alternative assets

Partner content on impact investing through alternative assets, featuring VentureCrowd CEO Steve Maarbani recalling funding rounds for drinks company Nexba via its crowdfunding platform.

Vast Solar builds on success to list on NYSE

Vast Solar agrees a business combination with a SPAC to list on the NYSE; the article also recalls its HyGATE grant for a green methanol plant in Port Augusta.

Quantum Brilliance raises $25.7 million for its mini quantum computers that run on synthetic diamonds

Australian quantum computing startup Quantum Brilliance has raised US$18 million to scale its room-temperature diamond-based mini quantum computers, following a smaller round in 2021.

Also Forbes Australia·SmartCompany·@AuManufacturing·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily

SwarmFarm raises $12 million to help bridge the gap between farmers and autonomous technology

Queensland robotics startup SwarmFarm closed a $12 million Series A led by Conexus Venture Capital, following an earlier grant and a 2020 raise, to scale its autonomous farming platform.

Also Startup Daily·Startup Daily·SmartCompany·SmartCompany·AgFunderNews

Fintech LimePay evolves to become “April” with a fresh focus on embedded finance

Australian payments fintech Limepay has rebranded as April, pivoting from white-label buy-now-pay-later technology toward a broader enterprise embedded finance and SaaS offering for brands, banks and fintechs.

Loam Bio raises $105m Series B to boost soil carbon sequestration

Soil-carbon startup Loam Bio has secured a A$105 million Series B and is bringing its CarbonBuilder inoculant and SecondCrop offerings to Australian growers, its backer Virescent Ventures reports.

Also Main Sequence Ventures portfolio·AgFunderNews·@AuManufacturing·AgFunderNews·SmartCompany·Startup Daily·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Forbes Australia·TechCrunch Australia·AgFunderNews·AgFunderNews·Crunchbase News

Climate change agtech startup Loam raises $105 million Series B

Agtech startup Loam has raised a $105 million Series B co-led by Lowercarbon Capital and Wollemi Capital, following a $40 million Series A, to commercialise its soil-carbon technology.

Also SmartCompany·SmartCompany·Startup Daily

Software-focused VC EVP bags $100 million for its 4th fund

Venture firm EVP has wrapped up the final close of its fourth fund at its $100m target, lifting total assets managed past $270m; recent raises by portfolio companies Hnry and Zipline are also noted.

Construction tech Render adds to C-suite with former Google and Calix execs after doubling global headcount

Render Networks appointed two new executives after doubling its workforce; the piece recalls IFM Investor's $40m majority investment from 2022.

Nasal Spray Significantly Accelerates Respiratory Virus Clearance in Phase 2a Clinical Study

Drug developer ENA Respiratory reports positive Phase 2a results for its INNA-051 nasal immunomodulator against influenza, with its Series A backed by Brandon Capital managed funds, the Minderoo Foundation and Uniseed.

Self-driving tech startup Baraja just shed 75% of its workforce

Sydney LiDAR maker Baraja has laid off about three quarters of its staff after a rough stretch for self-driving ventures. The piece recalls earlier backing from Veoneer, Blackbird, Main Sequence and Sequoia China.

Andrew and Nicola Forrest back female founders at Startmate

Tattarang, the Forrests' private investment vehicle, has partnered with Startmate to back women-led startups in its latest accelerator intake, which includes Kapture, Kelpy and Turnto.

Corvus to boost precision manufacture with MMI funds

Melbourne defence manufacturer Corvus will use a $3 million federal Modern Manufacturing Initiative grant to install precision machinery in Victoria and create over 300 jobs, while partnering with Hanwha on army vehicle bids.

Leadership changes announced as Radium Capital's high growth continues

Radium Capital promotes CFO Jeremy Loftus to Managing Director as CEO David Weir relocates to Brevet Capital Management in the US, while Georgina Wade becomes Chief Growth Officer.

Getahead closes $1.38m pre-seed round

Brisbane recruitment app Getahead raised a pre-seed round led by Pipeline Capital with backing from Phil Di Bella, to triple headcount and expand to other Australian states.

Also Startup Daily·SmartCompany·SmartCompany

Fintech CryptoSpend hunts for $5 million Series A to begin global push

Sydney crypto card startup CryptoSpend, whose cofounders met in the UTS Startups hub, is seeking a Series A and new backers to expand into New Zealand and Asia; no money has been committed yet.

Vaxxas initiates Phase I study for needle-free seasonal influenza vaccine delivered using High-Density Microarray Patch (HD-MAP)

Vaxxas has begun an Australian Phase I trial of its needle-free influenza vaccine patch. The article also recalls the company's founding equity financing led by OneVentures with Brandon Capital Partners and other co-investors.

AUKUS innovation: about far more than submarines – by Michael Sharpe

An opinion piece arguing AUKUS Pillar Two reaches beyond submarines into quantum, autonomy, AI and hypersonics, citing Australian players including Internet 2.0, Anduril Australia and Hypersonix.

Osher Günsberg & ethicist Peter Singer back mushroom 'meat' startup Fable Food Co in $12.3 million Series A

Queensland mushroom-based meat alternative maker Fable Food Co raised a Series A led by K3 Ventures, with celebrity and existing investors, to fund product development and expansion into North America, the UK and Singapore.

Manufacturing news briefs — stories you might have missed

Manufacturing roundup: MGA Thermal's production milestone, Downer's Queensland train contract, a Nyrstar Hobart appointment, Cooperative Research Australia's NRF submission, and Anteris Technologies' $35 million share placement.

US-backed payroll software co Humanforce is the latest owner of fintech Earnd

Humanforce has bought Wagestream's Australian arm, formerly Earnd, for an undisclosed sum. The article recalls Earnd's 2019 raise, its sale to Greensill, rescue by Wagestream, an A$81m Series C, and Humanforce's earlier acquisitions.

Fable Food Co’s founder on $12 million raise, US expansion, and why shrooms trump all alt meats

Mushroom-based meat alternative maker Fable Food Co has raised a Series A to fund US and UK expansion, with its founder arguing fungi products beat soy and pea protein rivals on taste, price and health.

Also Startup Daily·AgFunderNews

Fable Food lands Series A for its mushroom-based meat alternatives

Australian mushroom-based meat maker Fable Food raised an $8.5 million Series A led by K3, with returning and new backers, to fund product development and expansion into North America, the UK and Singapore.

Also AgFunderNews·AgFunderNews

Q&A: Climate Salad and Climate Angels

LaunchVic Q&A with leaders of Climate Salad and Ecotone's angel network on Victoria's climate tech scene, recalling Lug+Carrie's $5 million raise and grants supporting both networks, with mentions of Allume Energy, Kapture and others.

Vault to raise $4 million in a round led by Placeholder VC, with participation from existing investors AlleyCorp, Bullpen Capital, and Everblue Management.

Nordic9 item reports Vault Laboratories planning a funding round with Placeholder VC at the helm and existing backers AlleyCorp, Bullpen Capital and Everblue Management taking part.

AML3D raises $3 million to support expansion into US defence industry

Adelaide additive manufacturer AML3D has completed a $3 million share placement to fund its US expansion, including new sales bases in Tennessee and Virginia, plus software development for its Arcemy machines.

Also @AuManufacturing·3dprint.com

Former Affirm exec Silvija Martincevic to lead shift work management platform Deputy

Deputy appoints ex-Affirm commercial chief Silvija Martincevic as CEO and board director, succeeding co-founder Ashik Ahmed, as the Australian workforce platform pushes US expansion with $100 million AUD annual recurring revenue.

Healthtech startup 23Strands is taking genomics mainstream to transform medicine

Profile of Sydney genomics startup 23Strands, covering its university and research collaborations, a $1 million grant, an NHMRC-backed project, and its 2020 UNSW Health10X accelerator background.

Australia's Vow is writing a new narrative for the cultivated meat industry

Sponsored profile of Sydney cultivated meat company Vow, covering its quail-based first product, recent Series A backing, manufacturing plans, and founder George Peppou's upcoming panel appearance at AgriFutures' evokeAG 2023 event.

AI-software company Elula hires Colin Adamson as Chief Customer Officer

Australian banking AI firm Elula has appointed Colin Adamson, previously National Australia Bank's Head of Group Strategy, as Chief Customer Officer, joining immediately to support growth of its retention and acquisition products.

Vedi and GeoMoby each raise $3M

Two Perth startups have each secured $3 million. GeoMoby drew mostly French backers plus Agreement Hub and a METS Ignited grant; Vedi raised mainly from MSD Animal Health, with Companion Fund also taking part.

Six Australian startups that secured $94 million in capital this week

Roundup of six Australian startup raises totalling $94 million: Q-CTRL, Hnry, FoodByUs, F4S, STRAAND and Lenexa Medical, backed by investors including Salesforce Ventures, AirTree, Base Capital, Investible, Unilever Ventures and Stoic VC.

Also stoicam.com.au

Workplace coaching platform Fingerprint for Success raises $6.5 million

Fingerprint for Success, an AI coaching platform, has closed a $6.5 million second seed round led by Investible, with Canva's founders investing again; its lifetime funding now totals $9.2 million.

ARENA accelerates Hazer Group funding

Hazer Group reached a milestone allowing it to draw down $2.97 million in grant funding from ARENA, under a varied agreement splitting a tranche payment for its hydrogen demonstration plant near Perth.

Project aims to take renewable, recycled rebar into production

University of Southern Queensland and Inconmat received a $1 million government CRC-P grant to develop corrosion-resistant glass fibre-reinforced polymer rebar from bio-resins and recycled glass, with manufacture planned at Inconmat's factory.

Australian solar forecasting innovator snapped up by EU energy giant

Norwegian energy assurance firm DNV has acquired Sydney solar forecasting company Solcast, founded in 2016 by James Luffman and Nick Engerer, to expand its global data analytics offering.

The week in agrifoodtech: Plant-based salmon reels in $12m, new funding for ag robots, Impossible layoffs

Weekly agrifoodtech roundup: funding for FoodByUs, New School Foods, BloomX and others, acquisitions by CropX and Growy, plus layoffs at Impossible Foods and Glovo.

Also AgFunderNews·AgFunderNews

EnergyLab is backing these 11 Australian lithium battery startups with plans to change the world

EnergyLab's Supercharge Australia initiative has selected eleven startups for its first Innovation Challenge, covering lithium batteries, EV conversion and recycling, with experts judging a Sydney pitch event in March.

Virtual personal and professional coach creator takes funding to $9 million

Fingerprint for Success, maker of AI coach Marlee, raised $5 million in an Investible-led seed round, lifting total funding to $9 million, with participation from Five V Capital, Salesforce Ventures and several high-profile angels.

Also SmartCompany

Businesses, councils will launch 1000 new fleet EVs in 2023 through NSW government's $105 million grant scheme

NSW announced the second-round recipients of its electric fleet grant program, including Splend, IAG, Origin Energy and Sixt, and invited businesses to apply for a third round.

Carbon Revolution progresses merger, US listing

The Geelong wheel maker reports progress on its planned merger with a US SPAC and American listing, including audit work, new programmes and an estimated funding need, but no money has yet been raised.

Dr Chris Downs to lead FaBA

FaBA appoints Dr Chris Downs, a veteran agri-food scientist and executive from CSIRO and Queensland government, as Director of the national food and beverage accelerator.

Manufacturing news briefs – stories you might have missed

News roundup covering Bega's sale of its Vitasoy stake, a university venture fund's first close, an Australia-Netherlands hydrogen agreement, a research body's budget push, and a new Tasmanian space antenna.