Category: Investments & Funding News

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Dutch Koudijs Animal Nutrition invests US$14m in new poultry feed facility in Ivory Coast

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IVORY COAST – Dutch animal nutrition specialist Koudijs Animal Nutrition, subsidiary of Royal De Heus, has broken ground for the construction of a new CFA franc 8 billion (US$14m) poultry feed production plant in Ivory Coast. The facility which is expected to be completed by August 2022, will have a manufacturing capacity of 120,000 tonnes of feed per year. With this initiative, Koudijs Animal Nutrition intends to strengthen its presence at the upstream level of the poultry value chain in Côte d’Ivoire, where it set base since 2009. In 2019,…

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IPO bound craft beer company Brewdog raises record US$42m in online equity crowdfunding round

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UK – Brewdog, the world’s most prominent craft beer company, has raised £30.2m (about US$42m) in an online-only equity crowdfunding round dubbed “Equity For Punks Tomorrow”.  According to the maker of Punk IPA beer, the funding was raised from a crowd of 73,802 investors which it refers to as “Equity Punks”.   The latest investment round (which BrewDog says is the final round) brings the number of investors in BrewDog to over 200,000 Equity Punks in total.  “Thanks to everyone involved in the project for making it such a world-record breaking success! Every single penny invested goes…

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Kenyan online food store Greenspoon bags financial backing to boost capabilities

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KENYA – Greenspoon Ltd, Kenya’s first online food store to offer full transparency to its customers around the source of their food, has secured an undisclosed amount of funding from a consortium of Dutch investors, headed by The Blue Link. The lead investor- The Blue Link, also has interests in some of Kenya’s leading food processing companies to include: Highlands Drinks, Bio Food Products and Maxim Agri. The growth capital which will be channelled towards expansion of the business, comes at an opportune time as the Greenspoon is currently celebrating…

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Nigerian Agritech startup Releaf secures US$4.2m funding, grant to boost oil palm processing

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NIGERIA – Nigeria-based agritech startup Releaf has secured US$2.7-million in a seed funding round to enable the development of industrial food processing technology in the country’s smallholder-driven oil palm sector. Founded by Ikenna Nzewi and Uzoma Ayogu, Releaf is an agricultural technology company that develops proprietary hardware and software solutions that makes African farmers and food factories more efficient and profitable. Starting with Nigeria’s US$3 billion vegetable oil market, Releaf ensures smaller factories are set up near smallholder farmers, enabling the former to get better processing yields and fewer logistics…

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Leading Swiss companies join forces to establish Cultured Food Innovation Hub

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SWITZERLAND – A new facility aimed to accelerate the development and market penetration of cellular agriculture products is set to be established in The Valley in Kemptthal, a hotbed of innovation and technology just outside of Zurich. The Cultured Food Innovation Hub is the brainchild of three companies; flavor and fragrance manufacturer Givaudan, food processing technology group Bühler, and retail company Migros. Going live in 2022, the pilot plant will be a self-sustained, standalone company wholly owned by the three leading Swiss companies, aimed to provide facilities and knowledge to…

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B2B e-commerce startup Capiter raises US$33m Series A funding round to drive expansion plan

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EGYPT – Capiter, a B2B e-commerce startup which brings together manufacturers, brands, wholesalers and retailers on one platform, has raised a US$33 million Series A funding round to power its rapid expansion into digital financial services and additional markets. The company is planning on providing more digital financial services and expanding into overseas markets after raising a US$33 million Series A funding round, led by fintech-focused venture firm Quona Capital and MSA, an independent and interdisciplinary investment company. The round also features Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab,…

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Ingredion expands pulse-based protein capacity, continues investment in future of sugar reduction

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CANADA – Plant-based ingredient solutions provider, Ingredion Inc. has cut ribbon to its new production facility for flours and concentrates at its Canadian manufacturing assets in Vanscoy, Saskatchewan. The pulse-based protein facility which was acquired from Verdient Foods in November 2020, currently produces flours and concentrates from pulses such as peas, lentils and fava beans that are sustainably sourced from North American farms. The added capacity, which includes a new production line with proprietary processing technology, will enable food and beverage brands to answer consumer demand for sustainable, plant-based proteins…

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Olam Food Ingredients to develop dairy processing plant in New Zealand

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NEW ZEALAND – Olam Food Ingredients, the ingredients arm of Singapore-headquartered food and agri-business company-Olam, has announced plans of setting up a new dairy processing facility in the North Island town of Tokoroa, New Zealand. The new processing plant investment by the global leader in natural and sustainable ingredient solutions, follows 10 years as an investor in the New Zealand dairy sector. It will become part of a global network that spans 20 major milk consumption markets, such as South-East Asia, China, the Middle East, and Africa further cementing its…

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PepsiCo upgrades UK snack processing factory with US$28.9m investment

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UK – Snacks and drinks giant PepsiCo has invested £24.5m (US$28.92m) into its Walkers crisp factory in Lincoln in order to upgrade the facilities, meet growing demand for its Quavers snacks and secure the future of the site. The investment will see the company replace existing machinery at the site with new equipment, such as a compact packaging machine that will help PepsiCo to remove packaging from its supply chain by 30%. The project will also increase the factory’s capacity for Quavers – which PepsiCo claims are now bought by…

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Booming citrus fibre market gains US$50m investment from CP Kelco to expand processing capacity

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BRAZIL – Global ingredient solutions provider, CP Kelco has announced it will invest over US$50 million to expand production capacity for its Nutrava Citrus Fiber at its Brazilian facility, following strong customer demand and market potential. The project will add a second NUTRAVA Citrus Fiber production line to the company’s facility in Matão, increasing total capacity to approximately 5,000 metric tons. This is the second major move in the pectin space this month as Cargill inaugurated a US$150 million pectin production facility in Bebedouro – the heart of Brazil’s citrus-growing…

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