Anterra's $100m raise, green ammonia breakthrough, AI in CPG R&D, SWAP Food calls it quits, Chunk Foods eyes profitability, fresh funds for Solar Foods, Vivici, Picketa Systems

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This week: Green ammonia startup Faraday Earth reckons its system could put it within striking distance of fossil fuel-derived gray ammonia, the backbone of most nitrogen-based fertilizers.

Elsewhere, mixed fortunes in the whole cut alt meat space: French startup SWAP Food called it quits but Israel's Chunk Foods is eyeing profitability in 2027.

Plus:

Rewiring, not reinvention: Anterra's $100m raise
Protein from air: Solar Foods nets $89m in loans, grants
Gene editing: Rainbow Crops nets $11.25m as EU updates rules
Crop nutrient testing in the field: Picketa Systems raises $1.5m
Mycelium: The Protein Brewery gets novel foods green light
Precision fermented dairy: Vivici bags $14.4m from EIC
Futureproofing the food system: What role does tech play?

And finally… The vast majority of product developers are using AI. But is it moving the needle? Turing Labs surveys the biggest players, while Rich Bellis reports on the latest from the Hello Tomorrow summit in Amsterdam.

Have a fantastic week! Louisa, Jenn, and Elaine

And a big thanks to this week's sponsor:

Fertilizer… without Haber Bosch: Can AI-optimized plasma make green ammonia cost-competitive? - AgFunder portfolio co!

The Eureka moment came when the founders started experimenting with digital twins, enabling them to "materially improve" performance. Elaine Watson

The food system needs a rewiring, not a reinvention, Anterra Capital says after $100m raise

“We stay away from the hype and look at fundamentals every time." Jennifer Marston

French alt meat whole cut specialist SWAP Food ceases operations The market slowdown, company financial structure, and weak investor sentiment "were hurdles we could not overcome," says CEO. Elaine Watson

After Meati’s collapse, Chunk Foods pitches capex-light path to whole-cut alt meat, eyes profitability in 2027

Chunk Foods grew revenues by 140% last year and recently secured listings at Whole Foods Market, Sprouts, and H.E.B. Elaine Watson

AI is everywhere in CPG R&D. But is it moving the needle? Turing Labs surveys the biggest players

"The industry doesn't lack concepts or ideas. It needs a new operating model to win in the market," says Manmit Shrimali. Elaine Watson

See which technologies, ingredients, and ideas are gaining traction across the food system

From scientific discovery to market-ready solutions, IFT FIRST connects the full food innovation ecosystem. Join executives, researchers, product developers, and investors to explore the ingredients, technologies, and partnerships shaping what’s next across the global food system. Experience where ideas move from concept to commercialization—July 12–15 in Chicago.

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Solar Foods wins $89.2m backing for ‘protein from air’ factory, but final investment decision still pending

Solar Foods is now focused on turning MOUs and LOIs into binding offtake commitments, says CEO Rami Jokela. Elaine Watson

Rainbow Crops raises $11.25m to scale AI-guided multiplex gene editing

The firm expects to announce a collaboration with a seed company on corn soon. Elaine Watson

Picketa Systems raises $1.5m to bring crop nutrient testing to the field

"In 10 years, with advances in crop sensing, specialized inputs, and autonomous vehicles, we'll close the fertilizer loop entirely,” says the CEO. Elaine Watson

AI’s role in agrifood biotech comes into sharper focus

“We’re not there yet where AI comes up with something and we immediately just take it to market." Rich Bellis

The Protein Brewery wins EU approval for mycelium ingredient six years after novel foods filing

The fact approval took six years shows the need to ensure regulators keep pace with innovation, says the GFI. Elaine Watson

Vivici bags €12.5m EIC funding to scale precision-fermented dairy proteins

Vivici is "turning the promise of precision fermentation into a commercial reality, at scale," says CEO Stephan van Sint Fiet. Elaine Watson

Tech alone won’t future-proof the food system, experts warn

Calls for ambitious policy responses to climate and geopolitical risks in the current food system are growing louder. Rich Bellis

AgriFood Signals: Anthropic joins carbon removal coalition, Elanco launches venture arm, AeroFarms acquired

Plus: EU ratifies rules on new genomic techniques. Jennifer Marston

EXCLUSIVE: UPSIDE Foods submits $50m stalking horse bid for Believer Meats’ US cultivated meat facility

Other bidders have until July 20 to submit competing offers. Elaine Watson

From Taxol to cocoa: Can plant cell culture make the leap from drugs to food?

Could plant cell culture unlock a new category of "precision botanicals" or is it a "capital intensive money pit?" Elaine Watson

Innovafeed raises $59m, scales production, cuts R&D headcount as insect ag hits “industrialization phase”

Insect products must deliver nutritional and functional performances on top of sustainability benefits, says the firm Elaine Watson

Faeth Therapeutics begins trading under new identity following Sensei Biotherapeutics rebrand - Featuring Faeth Therapeutics!

Pulse 2.0

Before they pulled the plug on Fable

Substack

Deal or no deal, oil prices will stay high for months

The Economist

EU clears final hurdle to allow cultivation of gene-edited crops

Bloomberg

Eat only ingredients you can pronounce?

The Future Market

Fertilizer ships face long backlog even if Hormuz reopens

Bloomberg

Bananas could vanish from US school meals. Here’s why

The Guardian

‘I wouldn’t call it a blip’: Biotech IPOs here to stay after another record-breaking listing

Fierce Biotech

El Niño threatens more trouble for food supplies

Bloomberg

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