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Guests around the table at IC Dinner Singapore

IC Dinner Singapore, 26 October 2026

👋 Hi there, Alex here.

On Monday, as Singapore International Agri-Food Week 2026 got underway, Aaron (CEO, Rules Bio) and DJ (CTO, Prefer) hosted an IC Dinner.

The dinner represents FTW’s future.

We’re not just a newsletter, we’re building the world’s most active food founder community.

IC Dinner small group discussion questions

Questions for small group discussion prompts

Our industry is more interconnected than ever.

Success in Singapore opens doors to capital in Bangalore and San Francisco.

Our vision? An IC dinner at every major food event in the world.

Next up:
🇳🇱 IC Dinner Amsterdam at Future of Protein Production (FPP) Amsterdam, Tue 3 Nov. Request a seat
🇩🇪 IC Dinner Frankfurt at Fi Europe, Wed 18 Nov. Only 12 spots. Request a seat

🤝 Going to an industry event this year? Co-host an IC Dinner with us, and we’ll help with logistics and recruitment: become a co-host or just reply to this email.

This week’s rundown:
💰 $69M+ raised across 9 announcements, led by Zevia’s $20M deal and DMC Biotechnologies’ $18M
🍝 Barilla paid $750M for Goodles
🎤 New podcast: Arnav Pandey of Myca on walking away from a term sheet
🥚 $43 eggs from a coop with a disco ball
🌾 Salesforce will buy 500,000 rice methane credits from Mitti Labs

Guest article: Prachi Jha is back with her second piece for FTW on what wartime aviation and penicillin can teach us about where alternative proteins can go next

FUNDING

Precision fermentation, produce traceability and insect protein: $69M+ in agrifood funding

Illustration of an insect protein factory in a converted printing hall

Insect protein, made in a former printing hall. Illustration: FoodTech Weekly

Are you or your portfolio companies raising?

Get access to the most complete investor database in agrifood.


Series B:

🇮🇳 India — Troovy raises ₹100 crore (~$11M) [CPG]
Gurugram-based Troovy makes snacks, sauces, spreads and millet pasta for kids. Its vacuum-cooked chips have just 10–12% oil vs. 35–40% for regular fried chips. The round follows a $5M Series A in January 2026 and funds R&D, manufacturing, and expansion in quick commerce and offline retail.
Lead: Fireside Ventures
Follows: Sharrp Ventures and other investors

Series A:

🇺🇸 USA — Strella raises $4.25M Series A extension [Supply Chain]
Seattle’s Strella combines ethylene sensors, machine vision, and predictive software to monitor fruit ripening, assess produce quality, and prevent spoilage. The 19-person company has customers in 26 countries.
Lead: SilverBlue
Follows: LeVert Ventures, Beta Milouot, PeakBridge

Seed:

🇺🇸 USA — Loamy raises $6M [Supply Chain]
Los Angeles-based Loamy is building an AI-powered operating system for the food supply chain, using satellite imagery, infrared analysis, and automated quality assessments to help growers, packers, and distributors catch problems before produce gets rejected. The company claims its technology has already cut product rejections by 50%, keeping more food out of landfills and more money in growers' pockets.
Lead: Zeal Capital Partners
Follows: Slauson & Co., Supply Change Capital, Amplify.LA

🇬🇧 UK — Epoch raises $4.25M [Supply Chain]
London-based Epoch uses geospatial AI and satellite imagery to trace raw materials to their origins and help companies comply with sustainability regulations, including the EU Deforestation Regulation (EUDR).
Lead: Burnt Island Ventures and Sand River (co-leads)
Follows: now named

Equity (round not specified):

🇺🇸 USA — DMC Biotechnologies raises $18M [Ingredients]
Morrisville, North Carolina-based DMC makes high-purity bioactive ingredients via precision fermentation. Its KeyPura™ line includes myo-inositol and D-chiro-inositol for reproductive health, metabolic wellness and infant nutrition.
Lead: Inceptional Partners and Sofinnova Partners (co-leads)
Follows: First Bight Ventures, Cibus Capital, Capricorn Partners

🇫🇮 Finland — Volare raises €7.1M [Alt-Protein]
Volare, a 2021 VTT spin-off, opened a new insect protein factory with an annual production capacity of 5,000 tons. The company uses black soldier fly larvae to upcycle food industry byproducts into sustainable protein and oils for animal feed.
Lead: Springvest
Follows: New and existing investors, including Maki.vc

🇬🇭 Ghana — Vitara Agritech raises €1.8M (~$2M) [Supply Chain]
Vitara Agritech’s digital platform, TreeSyt, connects smallholder farmers to buyers, improving traceability, transparency, and farmer incomes across the shea supply chain. Vitara worked with 47,000 women farmers last season and reports a 20% increase in farmer incomes.
Lead: AgriFI (EU-funded, managed by EDFI Management Company)
Follows: Acumen, angel investors

🇪🇸 Spain — RawData raises €1M [Agtech]
Barcelona-based RawData helps agricultural producers manage field workers, track productivity, and streamline operations through its software platform. Already serving nearly 300 producers, the company plans to expand internationally.
Lead: Swanlaab Innvierte Agrifood Tech Fund
Follows: not named

Strategic & Public Company Financing:

🇺🇸 USA — Zevia secures $20M [CPG]
Better-for-you soda brand Zevia secured $20M from GP Investments to fuel its turnaround amid growing competition from Olipop and Poppi. The zero-sugar soda pioneer plans to expand its product portfolio, attract younger consumers, and boost distribution after years of sluggish growth.
Lead: GP Investments (via Bubble Holdings)
Follows: N/A

FTW FIRESIDE

An hour with Antoine Hubert, co-founder of Ÿnsect and Agriloops

🧠 Antoine Hubert founded Ÿnsect and Agriloops. On Friday 20 November he joins us for an FTW Fireside Chat, an online room for CEOs only. Register now to save your seat.

📆 When: Friday 20 November 2026, 5:00–6:05 PM Israel time (UTC+2)
💻 Where: Online
🔒 Format: CEOs only. No investors, no recording.
🎫 Seat: $10 to hold your spot

NOTEWORTHY

Barilla’s $750M mac and cheese deal, rice methane credits, and purple tomatoes Down Under

Illustration of a bowl of mac and cheese with pasta, wheat and purple tomatoes

Pasta deals and purple tomatoes. Illustration: FoodTech Weekly

🇺🇸 Barilla bought Goodles for $750M in cash. The deal values the mac-and-cheese brand at over 4x projected annual revenue ($175M), up from $75M in sales three years ago. It is Barilla’s first US acquisition since Back to Nature in January 2023.

🌾 Salesforce signed a five-year deal for 500,000 rice methane credits from Mitti Labs. The startup uses satellite imagery and AI to verify emissions reductions from climate-smart rice farming in India, which can cut methane emissions by up to 50% and water use by 40%.

🇦🇺 The Purple Tomato sold out in its first week in Australia. Engineered to produce high levels of anthocyanins, the antioxidants found in blueberries, the tomato combines enhanced nutrition with a striking purple color.

🇳🇴 Norway’s salmon farmers are using lasers and robots to keep fish alive. More than 14% of Norway’s farmed salmon (that’s about 55M fish!) died before reaching harvest last year. Mowi uses AI-powered cameras to detect parasites, lasers to zap sea lice, and robots to clean farming nets.

🇧🇪 Ghent already hit Flanders’ 2030 protein target. Since introducing Veggie Thursdays in 2009, the Belgian city has seen its flexitarian population grow from just 13% in 2014 to 83% today. Schools, restaurants, and workplaces have embraced plant-based meals, helping cut the carbon footprint of school lunches by 38% since 2018.

🚀 Fungi could help farm on Mars. Researchers are exploring how mycorrhizal fungi could transform nutrient-poor Martian soil into a viable growing medium by helping plants absorb essential nutrients.

GUEST WRITERS

Will it take a crisis to fuel the world’s appetite for alternative proteins?

Flying Machines Which Do Not Fly, a NYT Editorial from 1903. (left) and Wrecked glider in 1900 (right). Library of Congress.

Prachi Jha is a food scientist and product developer who works on scaling innovations in fermentation, plant-based foods, and alternative proteins.

In Will it take a crisis to fuel the world’s appetite for alternative proteins?, Prachi explores how crises have historically accelerated innovation, from aviation to penicillin, and how alternative proteins may be next. Plant-based meat sales roughly doubled during COVID-19 meat plant shutdowns, while avian flu helped Just Egg reach price parity in 2025. With fertilizer and feed costs rising, could today's instability be the catalyst alternative proteins need? Only if taste, cost, scale, and policy can keep up.

INVESTMENT CLIMATE PODCAST

Why Myca walked away from a term sheet

This week, Alex Shandrovsky spoke with Arnav Pandey, co-founder and CEO of Myca. I’m your host, Alex Shandrovsky.

Investment Climate Podcast episode art: Arnav Pandey, Myca

Arnav Pandey, Co-founder & CEO, Myca

🎤 Experience Doesn’t Pay Bills, Money Does with Arnav Pandey, co-founder and CEO at Myca. Before Myca, Arnav and co-founders Tejas Dinkar and Seamus Tardif were on the founding team of Jiva, Olam’s smallholder venture in Indonesia.

🎯 Mission: “Super intelligence for agribusinesses.” Myca’s AI agents sit on top of existing ERPs and CRMs, take over reasoning decisions in procurement, sales, credit and farmer engagement, and turn WhatsApp messages, calls and photos from field teams into structured workflows.
💰 Raised: $1.3M pre-seed
🤝 Investors: Kriscore Capital (lead), Eximius Ventures, Indigram Labs Foundation
🌏 Where: Headquartered in India with founders in Singapore; launched in India and Indonesia, now active in eight countries

Top lessons from the episode:
🔍 Know where agribusiness margins disappear: field force, management layers, tech spend and bad credit
🛠 Build vs buy: spending millions a year in-house loses to a $200K software line
🚪 Before signing a term sheet, ask: “Would we sign this if we never got the valuation we want?”
🧑‍🤝‍🧑 Raise from ex-colleagues and angels, and be honest with them about the risk
🌍 Not every great business should be venture-funded

🎧 Listen on Spotify and Apple Podcasts. 🎥 Catch past conversations on YouTube as well.

RANDOM STUFF

Disco-ball eggs, sewage chutney, and a Vegemite ban upheld

🥚$43 for a dozen eggs? And there's a waitlist! At a Southampton farm market, luxury eggs are selling for $3.58 apiece. The naturally blue, green, cream, and brown eggs come from pampered hens fed organic diets and housed in a coop complete with a chandelier and disco ball.

🍅 London’s rivers are growing sewage vegetables. Seeds carried by untreated sewage are sprouting into tomatoes, pumpkins, and gourds along London's River Brent.

🔒 Vegemite is still banned in Victoria’s prisons. An Australian prisoner challenged a 20-year ban on the yeast spread, arguing it violated his cultural rights. A judge upheld the ban over concerns it could be used to brew alcohol and interfere with drug-sniffing dogs.

📱 Swedish water pumps sent about 2M text messages in a month. A malfunction caused two pumps that coordinate water distribution via SMS to exchange millions of messages, racking up a 1.4M SEK (~$150K) phone bill for a local water association.

With love,
Alex Shandrovsky and Kat Tarasova

THE LEFTOVERS

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