Agtech Action | Week of 11.06.21 - 11.12.21
Agtech Action is a weekly newsletter highlighting current events in the world of agtech, and some light-hearted commentary
Arrest made in JBS cyberattack, Heinz debuts ‘Mars’ ketchup and a rancher is on a quest for drought-resistant cattle. Salt Bae catches some online criticism, Americans want more chicken and pork, and the consumer price index continues to rise.
The theme of the agtech week touches on a powerful message I took away from the AFA Leaders conference this week in Kansas City—network effects—and how agtech startups can utilize that to their advantage. An early Saturday morning edition to this week’s The Yield Lab Institute weekly newsletter.
Food and the World:
At COP26 Talks, 45 Nations Pledge To Overhaul Farming In Climate Change Fight
U.S. Farmers to Seed Less Corn, More Wheat And Soy For 2022/23 Season -USDA
Manchin taps brakes on Build Back Better spending package
The House Passes a Trillion Dollar Infrastructure Bill
U.S. Department of Labor issues emergency temporary standard to protect workers from coronavirus
Ukrainian Arrested In JBS SA Cyberattack
NOAA reporting 18 climate disaster events with losses exceeding $1B each (0:05 mark)
More robots coming to operations (0:45 mark)
House passes $1.2T bipartisan infrastructure bill, sending it to Biden's desk
Unhappy with prices, ranchers look to build own meat plants
Pennsylvania farmers are aging, creating an uncertain future for their communities and industry
U.S., local leaders discuss Southwestern Illinois ag-industry infrastructure needs
Potato market conditions elevated compared with a year ago
U.S. Hits Revil Ransomware Group Linked to Attack On JBS
Soybeans Add 35¢, Reacting To Friendly USDA Data
Consumer price index up 6.2% (0:05 mark)
U.S. let in Record 317,000 Agricultural Guestworkers
Peruvian asparagus importers face transportation issues
Cattle Reformers in Senate Unite on Price Discovery Bill
Despite Supply Chain Issues, Both Tractor and Combine Sales Continue to See Growth In October
Why California’s Lettuce Lands Are Unlikely Vaccination Leaders
Agtech in the News:
West Africa Venture Capital- Seed Stage Market Map
WBA to highlight value of AD at COP26 online event
FBN Health Rolls Out Nationwide, With Year-Round Enrollment
Dicamba-Resistant Waterhemp Confirmed In Tennessee
AgLaunch and Farm Journal Announce Cutting-Edge Startups for the 2021 AgLaunch365 Row Crop Challenge (congratulations to Phinite and Vulpes Corp, two YLI startups)
Nobody knows how the future of work will work
Light at the End of the Tunnel for EU Tariffs on American Agricultural Goods
Emerging Tech Research: Foodtech
Since July 2021, a $1m+ deal is announced on average every day by an African start-up
Kigali-based Norrsken partners Novartis Foundation to launch health challenge, accelerator
Heinz debuts 'Marz' Edition ketchup made with tomatoes grown in Mars conditions
Danone partners with nutrient discovery startup Brightseed amid ‘plant-based 2.0’ push
FFAR Consortium to Reduce Methane Emissions from Cattle
Introduction to Climate Tech: A Taxonomy Overview
The Next Big Thing for RNA? Fixing Moldy Food
Vietnamese minister criticised over 'Salt Bae' gold-plated steak dinner
Walmart is using fully driverless trucks to ramp up its online grocery business
The Future of American Farming Demands High Speed Internet Solutions
Sales are up, but shortages still impacting BASF: The Digest’s 2021 Multi-Slide Guide to BASF
Fun:
The untold story of sushi in America
Burger King Pulls Controversial Mary J. Blige Ad
An Inside Look At How One Veteran Turned First-Generation Farmer Finds The Proven Grit To Succeed
Supply crunch could impact your Thanksgiving dinner (0:05 mark)
Mars-like ketchup (0:40 mark); tomatoes grown to similar conditions on Mars
15 Minutes With… Shely Aronov, CEO And Cofounder of Innerplant
Helpful Resources:
PitchBook Analyst Note: Venture Debt in Life Sciences
The 6 Building Blocks of A Soil Carbon Contract
Supply Chain Jenga: Which Piece Will Tumble Next?
Pizza skateboards (1:10 mark); a Dutch entrepreneur has created a skateboard from pizza
Interesting Reads:
California Farm Bureau hails critical investments in infrastructure
As the world gets hotter, can cattle survive? A rancher’s quest for drought-proof cows
The U.S. Corn, Soybean Harvest Season Nears Completion, USDA Reports
Benson Hill opens new Crop Accelerator facility
Why reducing methane emissions matters
Can food banks keep home deliveries going?
Your Herbs and Spices Might Contain Arsenic, Cadmium, and Lead
RFS Power Coalition Commends Rep. John Garamendi for Introducing Bill requiring EPA Action on eRINs
Eyes Wide Shut? US Agriculture Faces China Reckoning
Americans are buying more chicken and pork, cutting back on beef and steak (0:40 mark)
America’s food safety system failed to stop a salmonella epidemic. It’s still making people sick
Hop growers balance demands of craft beers with climate concerns
Some farmers want to grow chickens smaller
Can Agriculture Technology Save the World?
High Cost, Short Supply of Fertilizer to Alter 2022 Planting
‘The autonomous greenhouse is not just a concept anymore’
OSU researchers develop innovative ways to protect wine grapes from wildfire smoke
Health insurance, SNAP benefits can pay for produce online via FarmboxRx
Finance:
Stafford Capital Partners appoints Brett Himbury as chairman
Biotech Roslin Technologies gets £1 million injection to help turn animal cells into sausages
TreeDots nets $11m Series A funding for its food surplus marketplace
Creadev leads $50M round for Goldman-backed Twiga Foods
Bill Gates-backed Cascade enters CEA with Soli-investment
Rural Funds Group among buyers of A$100M THF portfolio
COP26 has its work cut out but there are embers of light
Ascribe Bioscience gets $2.5m to fight crop loss with soil ‘signaling molecules’ (Congratulations to the Yield Lab for the lead investor on this!)
IGS announces Oversubscribed Series B At £42.2m
TurtleTree Raises $30m First Tranche of Series A
SLM Partners secures first close on €250M ag and forestry fund
Iron Ox Launches A New Robot For Moving And Monitoring Indoor Crops
New Forests partners with 3 DFIs to launch $500M Africa forestry fund
Theme of the Agtech Week: Network Effects
This week I attended the AFA (Agriculture Future Leaders of America) Conference in Kansas City and I was blown away at the young college students and their ambition. AFA is an organization that provides resources, mentorship and other training to college students eager to pursue careers in food, agriculture and forestry. In attending those sessions, a common theme arose from the speakers—the power of the network and the effects that that can have on your career. The saying ‘your net worth is in your network’ is so true as individuals and professionals and I would extend that to agtech startups and innovations. I cannot tell you how many times that I’ve seen startups on the brink of closing up shop and that one strategic connection, an introduction from their network made all the difference. Moreover, as an agtech startup if you provide value to one customer, that customer will tell their friends, i.e. other potential customers, and the ripple effect takes place. It’s all about the network.
I left that conference inspired by the young, bright minds and their ambition to enable change in food and agriculture through forging relationships and in the agtech startup community, we can all take a lesson from that.
Thanks for reading!
BD
Brandon Day is the Chief Operating Officer of the Yield Lab Institute, the think-tank, non-profit arm of The Yield Lab global network of venture capital funds and accelerator programs.