Consumer

Motif FoodWorks, launched by Gingko Bioworks, has pocketed $226m in a round backed by returning investor Louis Dreyfus a month after Gingko agreed to a reverse merger.

Motif FoodWorks, which traces its roots to MIT, has pocketed $226m in a round backed by returning investor Louis Dreyfus a month after Motif’s parent agreed to a reverse merger.

Bitwise Asset Management completed a $70m round backed by Coinbase at a $500m-plus valuation, while luxury goods wholesaler Joor raised $46m to take its overall funding to $81m.

The accelerator will welcome agtech and foodtech developers for a 12-week programme, with Atlantic Bridge among those providing mentoring.

Monthly analysis: May 2021

Innovative region: South Africa

Sector report: Healthcare

BAT is vying to become a leader in the on-the-go wellbeing and stimulation space through a new corporate venturing unit that has been quietly investing in the space since last summer.

Gene therapy startup VectorY has raised more than $37m in an Eli Lilly-backed seed round while AR helmet developer XYZ Reality pulled in over $28m.

The Aeon and American Express-backed online grocery retailer is set to list its shares on the Nasdaq Capital Market through a reverse takeover.

PayPal and Carta were among the LPs that have backed the early-stage venture firm’s first fund, which will invest in e-commerce technology startups.