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#315

👋 Hi there,

Future Food-Tech London is next week. If you’re in town, join us Wednesday 23 September at The Pilot in Greenwich! Founders and operators only, co-hosted with Tomas Turner of Cosaic. And mark Monday 19 October for a small fireside with Thijs Bosch, CEO of The Protein Brewery (10 seats).

This week's rundown:
🇮🇹 Biorsaf raises €5.2M and buys Cooki for Italian food RegTech
🇨🇭 Ferm Labs raises €3M for fermentation-derived flavors
🇺🇸 Sol-ti raises $30.3M for glass-bottled functional shots
🇯🇵 Blue Farm raises ¥350M (~$2.3M) Series A to lock matcha supply
🐜 A Michelin-starred Seoul kitchen got fined for ant garnish

FUNDING

RegTech, fermentation flavors, matcha, and cocoa shells

Precision fermentation facility illustration

Precision fermentation facility. Illustration: FoodTech Weekly

Series A:

🇯🇵 Japan — Blue Farm raises ¥350M (~$2.3M) [Agtech]
Hamamatsu-based Blue Farm links corporate buyers to specific tea plantations through its MatchaaS model, under which it manages entire tea fields with multi-year contracts. The funding will support international expansion, increased tea acreage, and supply and quality infrastructure as global matcha demand puts pressure on supply.
Lead: not named
Follows: AKaFUJI, Suzuyo Trading, Kawata Construction, Hamamatsu Iwata Shinkin Bank, Shinkin Capital, TOKAI Holdings, NOBUNAGA Capital Village

Seed:

🇨🇭 Switzerland / Italy — Ferm Labs raises €3M [Biotech]
Zug-headquartered Ferm Labs uses non-GMO microbial fermentation on low-value side streams to make clean-label flavor ingredients. Its flagship Kokumesan product targets industrial cheese applications. The company says the ingredient can reduce cheese inclusion while keeping sensory performance. This capital will go toward expanding bioprocessing capacity in South Tyrol, building a European B2B sales team, and R&D for new categories.
Lead: CDP Venture Capital (Green Transition Fund)
Follows: Fund F, Redstone (with Euregio+ and Alpine VC), Loacker Group

Stage undisclosed:

🇮🇹 Italy — Biorsaf raises €5.2M [Supply Chain]
Tuscany’s Biorsaf harmonizes and digitizes food safety and compliance via an integrated platform. It has acquired Bologna-based Cooki (automated traceability, labelling, costing, allergen tracking) to create an end-to-end Italian food RegTech stack. The company cites 10,000+ active users and clients including Conad and major HORECA groups. Funds support a three-year growth plan.
Lead: P101 SGR
Follows: Maia Ventures, Farming Future, Toscana Next

🇺🇸 USA — Sol-ti raises $30.3M [CPG]
San Diego’s Sol-ti makes glass-bottled organic functional shots under its Living Beverages line. The raise is aimed at expanding retail and foodservice.
Lead: not named in available coverage
Follows: Grays Peak Capital (named)

🇳🇱 Netherlands — Greencovery raises €1M [Biotech]
Wageningen’s Greencovery upcycles cocoa husks into multiple functional fiber ingredients. With this funding, Greencovery plans to scale to 1,000 tons/year with a Dutch industrial partner in North Holland. An additional ~€3M round is in the works with partial commitments already in place.
Lead: ROM InWest
Follows: Brightlands Venture Partners; one private investor

🇺🇸 USA — ProducePay raises >$140M equity + lending [Supply Chain]
Los Angeles-based ProducePay provides working capital, visibility, and data services across fresh produce. AgFunderNews reports more than $140M across equity and lending capacity. CEO Pat McCullough is steering a shift toward data/profitability into 2027.
Lead: Avenue Capital Group
Follows: Astanor

NOTEWORTHY

DoorDash × Wonder, mycelium steak at Erewhon, and Nordic deeptech capital

🚚 DoorDash and Wonder struck deals totaling $425M. DoorDash is acquiring Wonder’s Grubhub Campus Dining business (ex-Tapingo) for $300M and adding $125M into Wonder’s Series D.

🥩 Beyond Meat’s whole-cut mycelium Steak Filet landed at Erewhon in Los Angeles. Each 127g frozen cut lists 28g protein, 3g fiber, and 1g saturated fat, made with wheat gluten, fava, avocado oil, and mycelium.

💶 The European Investment Fund is committing up to €30M into Nordic Foodtech VC’s Fund II. The Helsinki firm is targeting an €80M fund for ~30 early-stage agrifood, aquaculture, and biosolutions companies, mainly in Northern Europe.

🏫 UMass Amherst launched a $120M Future Food Initiative. A major university bet on food-systems research and workforce.

🇪🇺 The European Commission published an agri-food innovation strategy. A framework for Europe’s foodtech and agtech sectors — worth a skim if you raise or sell into the EU.

🏆 UK food startups can win £10,000 in the Future of Food 2026 competition. Entrepreneurs with a UK connection can pitch their ideas for a shot at a £10,000 prize — entries close 25 September.

INVESTMENT CLIMATE PODCAST

Guillaume Béland of Zone Agtech on Canada’s agrifood investment climate

This week, Alex Shandrovsky had a conversation with:

🎤 Guillaume Béland, Director, Direct Investments, Zone Agtech — based in L’Assomption / Greater Montreal, Zone Agtech backs agrifood and agtech companies in Quebec. We talked about Canadian fundraising conditions, what Zone looks for in direct investments, and how founders should approach strategic capital.

Listen on Spotify and Apple Podcasts.

IC DINNERS / IC LIVE

Next table: London. Next fireside: Thijs Bosch.

🇬🇧 IC Dinner LondonWednesday 23 September, 7:00–9:00 PM BST, The Pilot. Join us the night before Future Food-Tech London. Co-hosted with Tomas Turner, CEO of Cosaic. Founders and operators only, ~12 seats, and off the record. Register or become a co-host.

🇳🇱 Fireside with Thijs Bosch, CEO, The Protein Brewery — Monday 19 October, 5:00–6:00 PM CET, virtual, 10 seats. Register here.

🇺🇸 IC Meetup San Francisco21/22 October. Register here.

🇸🇬 IC Dinner Singapore26 October at Paulaner Bräuhaus.

IC Dinner in Malmö on 15 September 2026 with Food and AgriTech founders.

Live podcast interview during The Drop, 16 September 2026. Host: Alex Shandrovsky. Guests: Tomas Turner (CEO, Cosaic), Mark Kahn (Co-founder, Omnivore), Divya Murthy (Principal, Oyster Bay Capital).

RANDOM STUFF

Ant garnish, $60 sourdough, and bird backpacks

🐜 A two-Michelin-star Seoul restaurant was fined for topping dessert with ants. Evett’s owner was fined 15M won (~$11K) because ants are not on South Korea’s approved edible-insect list, and tests found elevated heavy metals.

🍞 A $60 sourdough loaf in New York. Martin Auer’s bakery imports its rye flour from Austria. Let us know if you try it!

🐦 Researchers are putting tiny backpacks on birds. Yes, it’s science, but also: bird fashion week.

🧀 India may ban “analogue paneer” nationwide. FSSAI’s chief said states are meeting next week. Several states already banned vegetable-fat paneer substitutes sold as the real thing.

We love you.
Kat, Steve, Alex and Ilkka

This issue was produced while listening to Memories by The Midnight.

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