Botanic Healthcare bags $29m funding
Deal News | Jan 09, 2025 | Ag News
The agrifood technology sector witnessed notable activities in the new year with substantial funding for Indian nutraceutical startup Botanic Healthcare, securing $29 million, and Fermata, an agriculture-focused data science company, obtaining $10 million. Both companies are looking to leverage these funds to further innovate in their respective domains. In parallel, important collaborations and strategic moves are taking shape, such as Ohalo's partnership with Florida farmers for developing disease-resistant strawberries, and the industry giants Bayer and Neste launching an initiative to advance renewable fuel. However, not all news was positive, as vertical farming company Plenty faces a potential devaluation of over 90%, indicating challenges within the high-tech farming industry. Personnel changes were also noted, with the departure of Zepto's VP of central operations.
Sectors
- Agrifood Technology
- Nutraceuticals
- Renewable Energy
- Vertical Farming
Geography
- India – The location of Botanic Healthcare, a main participant in the article.
- Israel – Where Fermata is based, reflecting a geographical footprint in the agrifood tech investment.
- United States – Mentioned as the location where Ohalo is partnering with Florida farmers, and relevant to Plenty's focus.
- Germany/Finland – Countries involved in the Bayer and Neste collaborations for renewable fuels.
Industry
- Agrifood Technology – This sector is developing and implementing technology to enhance agricultural productivity and sustainability, as seen with Botanic Healthcare, Fermata, and the activities involving Bayer and Neste.
- Nutraceuticals – Focused on products derived from food sources with extra health benefits, relevant to Botanic Healthcare's business model.
- Renewable Energy – Involves initiatives towards sustainable fuel solutions, relevant to Bayer and Neste's joint project.
- Vertical Farming – Utilization of controlled-environment agriculture technology to grow produce in vertically stacked layers, as seen with company Plenty.
Financials
- $29 million – Funding secured by Botanic Healthcare.
- $10 million – Funding secured by Fermata.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Botanic Healthcare | Recipient of $29m funding | Company | An India-based startup in the nutraceutical sector. |
| Fermata | Recipient of $10m funding | Company | An agriculture-focused data science company. |
| Plenty | Facing value cut | Company | A vertical farming company reportedly in talks for a valuation decrease. |
| Ohalo | Collaborator | Company | Working with Florida farmers on disease-resistant strawberries. |
| Bayer | Collaborator in renewable fuel initiative | Company | A multinational company launching a renewable fuel initiative with Neste. |
| Neste | Collaborator in renewable fuel initiative | Company | Partnered with Bayer for a renewable fuel initiative. |
| Zepto | Employer of departing VP | Company | The company Zepto where the VP of central operations has left. |
| VP of Central Operations at Zepto | Outgoing personnel | Person | Individual leaving their position at Zepto. |