China drone saga ends with twist in the tale, Sound Ag nets $25m, Asia biotech funding, Onego Bio eyes US site for animal-free egg protein

If you've been following the Chinese drones saga, it finally came to a conclusion of sorts this week as the US Congress passed a defense spending bill that did not, in the end, block the activities of ag spray drone market leader DJI. But there was a catch, reports Elaine Watson...

Meanwhile, Brazilian early-stage investor SP Ventures chatted with us about the ups and downs of raising its new fund in a challenging economic environment.

Elsewhere, we quizzed food and ag leaders on what tech they are excited about, from robotics and AI to biologics, and what's keeping them awake at night in our annual festive vox pop 🎄.

Finally, Jenn Marston caught up with biostimulant maker Sound Agriculture after it netted $25 million in a new funding round, Samuele Gabbio crunched the numbers on the Asian biotech scene, and Elaine Watson headed to San Diego to meet Onego Bio, which is eyeing up a site in Wisconsin for animal-free egg protein production.

Have a great weekend! Louisa, Elaine, Jenn and Samuele

And a big thank you to this week's sponsor:

Industry news

Relief as final text of defense spending bill spares DJI drones, but battle isn’t over yet, say distributors

A bill allocating defense spending for fiscal year 2025 just passed in the US Senate does not include provisions contained in the House version restricting the activities of Chinese firm DJI, the US market leader in ag spray drones. But there is a catch... Elaine Watson

Exclusive: SP Ventures makes first close of new fund with backing from AGCO, FMC & others

Key areas for potential investments include bio-based crop protections, agrifintech, supply chain sectors and education. Jennifer Marston

Asia biotechnology ecosystem responds to government support with 140% funding increase over 3 years

Investment in Asia biotechnology startups is on the rise, with those operating in the food, agriculture, bioenergy, and biomaterials spaces raising nearly $3.5 billion in the last three years, up over 140% against the three years prior. Samuele Gabbio

🎥 Onego Bio eyes Wisconsin site for chicken-free egg production, files GRAS notice

Food manufacturers have been looking for viable egg replacements for years as prices and supply go up and down like a yo-yo with every avian flu outbreak, says Onego Bio. Elaine Watson

Biostimulant-maker Sound Agriculture bags additional $25m, will pay growers to replace nitrogen and phosphorus

Plant-and-soil health startup Sound Agriculture will use the new funding to enter new markets and develop new products. Jennifer Marston

GoodSAM Foods is blazing a path for regen ag that brings value (and money) back to farmers

This “direct trade” model cuts out the middlemen so that GoodSAM works directly with the growers and their farmer associations. Jennifer Marston

New Culture: We can deliver ‘fully functional’ animal-free mozzarella with 50% less casein than dairy

“With this reduction we’ve hit an essential milestone on our path to achieving cost parity with conventional mozzarella and reaching positive net margins,” claims CEO Matt Gibson. Elaine Watson

The Week in AgriFoodTech: Rebel Foods raises $210m, Terradot bags $58m, Plenty shutters Compton farm

Plus...John Kempf's Advancing Eco Agriculture nabbed a USDA rural development award. Samuele Gabbio

New fund from Astarte & Toesca underscores the promise of investing in Latin America's permanent crops

Chile is attractive to investors looking to back nature-based and/or sustainable agriculture-based solutions, says Astarte. Jennifer Marston

Ninjacart opens startup program for agrifoodtech innovators

Ninjacart has launched its startup program to support foodtech and agtech startups with access to advanced technology and venture capital partners, financial backing, and expert business advisory. The program aims to accelerate innovation in food distribution and empower the next generation of agrifoodtech entrepreneurs.

Apply now!

Interviews, opinion and analysis

🎄FESTIVE AGRIFOODTECH VOX POP PART 1: From robotics to biologics, what are founders most excited about as we head into 2025?

AI was top of mind for many founders, but it’s not the only thing on their list... Elaine Watson

🎄FESTIVE AGRIFOODTECH VOX POP PART 2: From funding blues to bird flu, what keeps startups awake at night as we head into 2025?

The challenging funding environment topped the list, but it's not the only thing disturbing founders' sleep... Elaine Watson

Inside the Good Meat Project’s mission to change meat consumption

Agency, education, and myth-busting are key. Jennifer Marston

StrongSoil’s 80% yield increase success rate shows potential to restore soil health at scale

Scaling soil health restoration requires economically viable solutions. Biofertilizers and biostimulants are emerging as critical tools. Sponsored post

In case you missed it

Gooddrop’s ‘grow-to-wear’ apparel business looks to mass produce cotton using vertical farms

Gooddrop aims to grow cotton in vertical farms and keep spinning mills on the site of these farms to produce textiles. Jennifer Marston

‘A pivotal moment in the egg industry…’ NestFresh celebrates first hatch of in-ovo sexed chicks in the US

NestFresh plans to transition its entire egg line to this new process, with certified eggs from the sexed chickens launching in retail in July 2025. Elaine Watson

UC Davis spinoff One Bio raises $27m Series A to bridge the fiber gap

One Bio has patented technology to chop up polysaccharides from agricultural waste into “odorless, colorless, and tasteless” oligosaccharides to bridge the fiber gap. Elaine Watson

Navigating tariffs and trade in 2025: ‘There will be carnage’

There is “a misconception that tariffs reduce trade deficits,” says economist Joseph Gagnon at the Peterson Institute for International Economics. “Well they don’t.” Elaine Watson