Agrifoodtech funding down 50% YoY in Q3, Phagos raises $29m, Evolv unveils GLP-1 'biomimetic,' Asterix unlocks '2nd' wave of animal-free proteins

For those hoping to see a resurgence in agrifoodtech spending—or at least stabilization after years of decline—keep hoping. New data from AgFunder shows further declines in Q3, but some notable rounds from livestock management and alt protein startups.

On a more positive note, however, there was a sizeable Series A round this week from Phagos, which is addressing bacterial resistance with bacteriophage drugs for animals, and, eventually, humans.

Meanwhile, plant-based cheesemaker Climax Foods rebranded as Bettani Farms and hired a new CEO, Asterix Foods emerged from stealth with a low-cost approach to scaling animal proteins in plant cell culture, and Evolv unveiled a new 'biomimetic' claimed to activate GLP-1 receptors.

Elsewhere, Elaine Watson headed to Sacramento for a UC Davis symposium on GLP-1s and San Francisco for Mista's third growth hack, while Jenn Marston quizzed Cairnspring Mills on building the "craft flour" category: "We’re doing for flour what Blue Bottle did for coffee."

Finally, check out our latest videos from Future Food-Tech & World Agri-Tech with Checkerspot (alt fats), Helios (ag insights), and Novonesis (biomanufacturing).

Have a great week! Louisa, Jenn, and Elaine...

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Agrifoodtech funding down 32% in Q3 vs Q2, but propped up by livestock management deals

Farm management and precision ag software startups led agrifoodtech funding in Q3 2025, thanks largely to a few big deals, including the $100m raise from virtual fencing startup Halter. Jennifer Marston

Evolv launches peptide that engages GLP-1 receptors as new ‘biomimetics’ category emerges

Evolv has launched a dietary supplement featuring baker’s yeast that has been engineered to produce a peptide that engages GLP-1 and GIP receptors. Elaine Watson

Phagos lands $29m to further develop its antibiotic alternative for livestock - AgFunder portfolio co!

The company calls these drugs “a sustainable answer to the global challenge of bacterial resistance.” Jennifer Marston

Exclusive: Asterix Foods emerges from stealth to unlock ‘2nd wave’ of animal-free proteins in plant cell culture

While some startups make animal proteins through precision fermentation or molecular farming, Asterix argues plant cell culture offers a faster, cheaper path to scale. Elaine Watson

Climax Foods rebrands as Bettani Farms, hires new CEO, focuses on markets it can ‘serve at scale profitably’

Former Califia Farms CFO Sandeep Patel replaces founder Dr. Oliver Zahn as CEO at the plant-based cheese company. Elaine Watson

Farmers Business Network the latest to announce spin off company, following Corteva, Kraft Heinz

FBN has spun off its global crop solutions business into a wholly separate entity as the company pursues a “pure tech platform” strategy. Jennifer Marston

🎥Checkerspot teams up with Huvepharma to produce human milk fat analog at scale

This partnership combines Checkerspot’s proprietary molecular and strain engineering platform with HuvePharma’s fermentation, manufacturing and distribution capabilities. Elaine Watson

The Week in AgriFoodTech: Corteva, Bayer announce new partnerships, Air New Zealand backs nature carbon credits

Plus: the European Parliament backs a ban on terms such as 'burger' and 'steak' on plant-based meat labels. Jennifer Marston

🎥 Helios taps AI agents for ag insights at ‘worst time’ for procurement pros

Procurement teams face an unprecedented level of uncertainty from climate & geopolitical risks, driving demand for new tools, says Helios. Elaine Watson

🎥 Inside Novonesis’ playbook for external innovation in biotech

How does biosolutions specialist Novonesis help startups in the biomanufacturing space cross the valley of death? Elaine Watson

India’s farm economy hit by US tariffs, but agtech may be the silver lining

Analysts say tariffs could accelerate tech adoption in India as farmers seek to reduce input costs, improve yields, and access new markets. Eugene Gerden

Cairnspring Mills on the promise of regenerative ‘craft’ flour: ‘We’re doing for flour what Blue Bottle did for coffee’

Craft beer and craft coffee are de rigueur for many these days, but what about craft flour? Jennifer Marston

Guest article: Private capital is a fundamental—and underfunded—piece of global food security

Agriculture remains one of the world’s most critical sectors, but remains underfunded and under-represented in capital markets. By guest contributor Eduardo Nunes

Debt deal buys Beyond Meat time, but there’s ‘no strategy to get out of the hole,’ says alt protein investor

Beyond Meat "has a negative net worth, declining sales, and no strategy to get out of the hole," said one alt protein investor. "It’s hard to see how they turn it around at this stage." Elaine Watson

Icafolin-methyl ‘a completion of glyphosate,’ not a replacement: in conversation with Bayer

The primary purpose of icafolin-methyl is "to bring back the controls that the farmers had at the beginning with glyphosate," says Bayer. Jennifer Marston

🎥 Matt Crisp on agtech investing: ‘We need to get small in order to get big again’

"A lot of capital has exited the space so it's forcing a range of new approaches and new operating models within companies," says Matt Crisp. Elaine Watson