Macdoch eyes growth agtech VC funds; El Salvador completes $1bn DFN swap

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Australia’s pulse production is set for a strong 2024/25 season, with harvest volumes expected to exceed last year’s levels, according to agribusiness bank Rabobank.

Driven by increased planting despite challenging weather conditions, crops including chickpeas, lentils, faba and mung beans are seeing higher yields.

Chickpeas are performing particularly well, bolstered by strong demand from India, which has removed its import tariffs due to reduced local production.

RaboResearch Australia and New Zealand general manager Stefan Vogel said the tariff removal is “good news” for Australian farmers, as it should result in strong prices for the crop.

Vogel said Australia was poised to set its second-largest pulse harvest on record, but recent frost in southern regions may decrease yields.

Global chickpea markets also remain competitive, with Russia and Canada increasing their production alongside Australia.

Meanwhile, Australian lentil farmers are also bracing for competition from Canada as both countries anticipate larger crops this season.

Jüsto, a Mexican online grocer with operations across Latin America raised $70 million in equity and debt financing. The $50 million equity round was led by existing investor General Atlantic, while the $20 million debt facility was arranged by HSBC México.

OroraTech, a German start-up that uses thermal satellites and AI to predict and prevent wildfires, raised a €25 million from Korys, the European Circular Bioeconomy Fund Bayern Kapital.

Blue Stripes, a New York-based cacao brand, raised $20 million in Series B funding round backed by Zintinus, The Hershey Company and Whole Foods Market, among others.

BE WTR, a Swiss sustainable and premium water solutions provider, raised a $45.45 million Series C funding round led by Convent Capital, with participation from PeakBridge through its Growth 2 Fund and Edmond de Rothschild Direct Investments and HHT, among others.

Sallea, a Swiss startup developing ‘edible scaffolds’ for cultivated meat production, raised a $2.6 million pre-seed funding round led by Founderful with participation from Kost Capital, among others.

Paket Mutfak, a Turkish cloud kitchen software startup, raised a $2.7 million funding round backed by Fırat İşbecer, Nokta Investment Holding, Ünlü & Co GSYF and Ersan Öztürk, among others.

Bemakers, a Danish beverage distribution platform, raised a €3.5 million seed funding round. Investors in the round were not disclosed.

Agtonomy, a California-based automation software for agriculture and land maintenance, raised a $32.8 million Series A funding round led by Autotech Ventures, with participation from Rethink Food, Allison Transmission, Black Forest Ventures, Toyota Ventures, Flybridge, and Cavallo Partners.

Also in the news…

Sydney’s Global Nature Positive Summit shines spotlight on biodiversity The event, backed by the Australian government, was something of a mixed bag – but did highlight how large the focus on nature-positive initiatives is becoming (Agri Investor).

Graham Partners picks up sauce manufacturer Tulkoff Food Products Tulkoff was founded by the Tulkoff family in 1926 (PE Hub).

PE firms back French rice supplier Marbour Cerea Partners, Société Générale Capital Partenaires and BNP Paribas Développement have taken a stake in the company (MSN).

One Rock Capital acquires stake in Lewis Brothers Bakeries One Rock said the investment was completed by one of its affiliates (One Rock Capital).

Sweden to launch Global Biocredit Standard at COP16 Global Biocredit Standard has been developed through broad collaboration between researchers, forest owners and industry (PR Newswire).

Advent International prepares takeover bid for Tate & Lyle Offer for ingredients group would mark private equity’s latest attempt to acquire a London-listed company (Financial Times).

The British farm using LEDs to grow strawberries for Christmas Innovation by Cibus Fund company is delivering 600,000 punnets that would usually be flown in from overseas (The Times).

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