The announcement brings the number of SparkLabs Cultiv8 fund’s investments to 36.
These companies are now worth a total value in excess of A$400 million and have raised over A$100m from global venture, corporate, strategic and private investors.
SparkLabs Cultiv8 invests in early-stage companies globally that have the potential to shift the dial in Australian agriculture and food production.
To date, 50 per cent of investments have been in Australian start-ups and the remainder are from all corners of the world.
After recently being named the eighth most active agriculture and food technology accelerator globally from AgFunder, SparkLabs Cultiv8 has announced the ten businesses set to receive almost $1 million in funding on their path to revolutionising the global agriculture industry.
Investments include a CSIRO project where a specific seaweed is fed to livestock to reduce their methane production, a consumer app with an intention to enhance consumer decision making, a company making honey without bees, and a packaging technology that reduces single use plastic in our supply chains.
Besides seed funding of up to $100,000 and SparkLabs resourcing, each company is set to benefit from the growing network of SparkLabs Cultiv8 and The GATE (Global Ag-Tech Ecosystem).
“It’s an incredibly exciting industry to be supporting right now. We have been positively overwhelmed by the calibre of businesses presented for consideration to this year’s cohort,” said SparkLabs Cultiv8 partner, Jonathon Quigley.
The 10 teams have come from all over the world with an intention to gain knowledge from the Australian producers and intend to expand in the Southern Hemisphere.
They are Agriforte, Dr Glitter Health, Future Feed, Greener, Health Food Symmetry, Melibio, Nano-Soils, Salicrop, Shandi and StenCo LLC.
‘This year’s cohort is one of the most diverse and exciting groups,” said Program Director for SparkLabs Cultiv8, Graham Bougen.
“We are looking forward to getting their solutions in the hands of Australian growers and consumers as they have enormous potential to shift the dial in agriculture and sustainability here and abroad.”