Investment Climate Podcast

Episode 100: Scannabull: Dan Bull on non-dilutive government hacks, dodging the OpenAI threat, and the $1.1M pre-seed pitch 
In this episode, I sit down with Dan Bull, CEO of Scannabull, a New Zealand-based AgTech startup utilizing 3D imagery and edge-device machine learning to accurately weigh livestock. Dan breaks down the exact timeline of their $1.1M NZD pre-seed round, explaining how an early introduction from their first major customer (Silver Fern Farms) unlocked backing from Sprout AgriTech and Enterprise Angels, which subsequently triggered a highly favorable, non-dilutive $750k government loan. We dive into the tactical ways founders can handle the inevitable "won't OpenAI just crush you?" objection, and why targeting farmers as a primary customer is a mistake. 
🎧 Listen to the full episode to hear how Dan plans to monetize Scannabull by selling data directly to massive meat processors rather than charging cash-strapped farmers. 

Key Facts Scannabull:
Dan Bull: https://www.linkedin.com/in/danjbull1/
Website: https://scanabull.com/
Headquarters: New Zealand 
Goal: To illuminate the "black box" of the beef supply chain by allowing farmers to weigh 600kg animals instantly using 3D imagery on edge devices (iPhones and custom paddock hardware).
Milestone: Raised $1.1M NZD via a combination of VC backing (Sprout AgriTech), an Angel syndicate (Enterprise Angels), and a non-dilutive 3% revenue-repayable loan from the New Zealand government’s Callaghan Innovation Fund.

Blurb
Scanabull is a New Zealand AgTech company making cattle weighing effortless. Based in the Waikato region — one of the world's most storied livestock innovation hubs — Scanabull brings together a proven team with genuine rural roots, AgTech expertise, and deep software capability. Their technology delivers clear, actionable weight intelligence that helps farmers and processors maximize value while keeping animals healthy and well-managed. Simple premise, significant impact: when you know the weight, you know the animal.

Episode 99: SHIFT Invest: Jonas von den Driesch on the €8M Food Forecast Series A and why European VCs run Due Diligence Post-Term Sheet 
In this episode, I sit down with Jonas von den Driesch, an investor at SHIFT Invest, a Dutch impact venture capital fund that just launched its fourth fund with a first close of €90M. Jonas breaks down the exact timeline and thesis behind their recent €8M Series A co-lead investment in Food Forecast, an AI-driven platform optimizing ultra-fresh bakery production to eliminate food waste. We dive deep into the cultural nuances of European venture capital, specifically why it is standard practice to run heavy, external due diligence after a term sheet has already been signed. Jonas also explains why non-Dutch startups must have commercial proof points to secure funding, and how Food Forecast proved its "land and expand" growth model within enterprise bakery accounts. 
🎧 Listen to the full episode to hear Jonas's take on the SaaS AI threat and why a proprietary "data moat" is the only way to survive the rise of LLMs like Claude. 

Key Facts SHIFT Invest:
Jonas von den Driesch: https://www.linkedin.com/in/jonas-von-den-driesch/?locale=en
Website: https://shiftinvest.com/
Headquarters: Amstelveen, Netherlands
Goal: To combat climate change, biodiversity loss, and resource depletion by leading or co-leading Seed and Series A rounds across Food & Ag, Energy, Mobility, and Green Industries.
Milestone: Recently launched "Shift IV" with a €90M first close, actively deploying €500K to €4M initial checks across Northwestern Europe while targeting 10%–20% ownership stakes.

Blurb
SHIFT is an impact-first venture capital fund with 14 years and 65+ portfolio companies behind it — backing innovative startups with the potential to meaningfully restore the balance between nature and society. Where conventional investors stop, SHIFT steps in: taking the financial and impact risks required to accelerate the sustainability transition across smart food and agriculture, green industries, energy transition, and sustainable mobility and logistics. SHIFT invests from pre-seed through commercial scale, combining growth capital with deep impact expertise, a high-value partner network, and the long-term commitment — including follow-on capacity — that early-stage environmental entrepreneurs actually need to succeed.

Episode 98: Cosaic: Tomas Turner on surviving Corporate VC Due Diligence and the 1% Conversion Rate Reality 
In this episode, I sit down with Tomas Turner, CEO and Co-founder of Cosaic, a biomass fermentation startup producing highly functional yeast-based ingredients to replace additives, milk, and eggs. Tomas walks us through the grueling realities of closing a $6M round led by DSM-Firmenich’s CVC arm. We discuss why Corporate VC due diligence is fundamentally different—and far more rigorous on IP and Tech—than standard VC vetting. Tomas also opens up his fundraising pipeline, revealing the raw math required to close a multi-million dollar Seed round today: 250 targets, 60+ initial meetings, and countless rejections just to secure three new investors. 
🎧 Listen to the full episode to hear Tomas explain the "pharma model" of FoodTech and why you should never try to negotiate a corporate term sheet with lawyers in the room. 

Key Facts Eatable Adventures:
Tomas Turner: https://www.linkedin.com/in/tomas-turner95/
Website: https://www.cosaic.bio/
Headquarters: Horgen, Switzerland
Goal: To utilize biomass fermentation to curate clean-label fat and protein fibers that mask off-notes, provide astringency masking, and function as egg/dairy replacements.
Milestone: Closed a $6M funding round led by DSM-Firmenich Venturing, supported by existing investors (Navus Ventures, Founderful) and a new Swiss Family Office.

Blurb
Cosaic is a science-driven ingredients company building resilient food systems that keep pace with evolving consumer demand. Powered by a fast-moving team of scientists, engineers, and business builders, Cosaic combines rigorous in-house R&D — including an advanced pilot lab for real-condition testing — with a relentless commitment to continuous optimization. They don't just claim what their ingredients can do; they know it. Ambitious by nature and customer-centric by design, Cosaic works alongside food industry partners to deliver solutions that push the boundaries of what's been imagined possible.

Episode 97: SenseUp Biosciences: Georg Schaumann on the €10M non-dilutive hack, surviving deep expert "grilling," and avoiding the CapEx trap 

In this episode, I sit down with Georg Schaumann, Founder and CEO of SenseUp Biosciences, a deep-tech platform developing bio-encapsulated double-stranded RNA (dsRNA) for targeted crop protection. Georg details how a serendipitous barbecue conversation led to their €3M Seed round backed by the Heister Family Office (the capital behind Aldi) and IT/AI specialist fund Capnamic. We dive into the reality of surviving deep technical due diligence when VCs hire 30-year agrochemical veterans to "grill" founders, the strategic blueprint for solving the solo-founder dilemma by embedding equity reserves for a future commercial co-CEO directly into the cap table, and how SenseUp leveraged €10M in German government grants to bootstrap six years of intense R&D. 
🎧 Listen to the full episode to hear Georg explain why founders should aggressively cancel their own non-essential patents to save cash. 

Key Facts Eatable Adventures:
Georg Schaumann Cabañero: https://www.linkedin.com/in/dr-georg-schaumann-1638168a/
Website: https://senseup.bio/
Headquarters: Köln, Germany 
Goal: To produce bio-encapsulated double-stranded RNA platforms that function as highly selective, effective, and non-toxic active ingredients for crop protection (fungicides, insecticides).
Milestone: Closed a €3M Seed round led by Capnamic to finance expanded in vitro and greenhouse trials while preparing to onboard a dedicated commercial co-CEO ahead of a planned Series A in mid-2027.

Blurb
SenseUP is a biotech spin-off from Germany's Forschungszentrum Jülich (FZJ) tackling one of agriculture's most urgent problems: the $290 billion annual toll of crop losses caused by pests and pathogens. Where conventional chemical pesticides are losing efficacy and damaging ecosystems, SenseUP has developed a patented dsRNA biopesticide platform that delivers protection that's effective, affordable, and as easy to deploy as the chemical products it replaces — without the environmental cost. Led by founder and CEO Georg Schaumann, PhD, the Cologne-based team combines deep expertise in dsRNA biology, microbial production, and scale-up to bring next-generation crop protection from lab to field. SenseUP collaborates with leading agri-industry players on R&D trials across diverse applications — building toward a future where farmers achieve growth without compromise.

Episode 96: Eatable Adventures: José Luis Cabañero on the $50M Deep Tech Thesis and why Southern Europe is the ultimate VC testing ground 

In this episode, I sit down with José Luis Cabañero, Founder and CEO of Eatable Adventures, one of the most prolific AgriFood accelerators and venture capital platforms in Europe. José breaks down his highly specific thesis: writing €100K-€300K pre-revenue checks (targeting 5%-10% equity) into early-stage Deep Tech and "Physical AI" startups. We discuss why Eatable Adventures explicitly passed on Cellular Agriculture due to technical complexities, and how they leverage their network of 80+ corporate food partners to instantly validate a startup's product-market fit. Finally, José explains why he is aggressively launching a new €50M fund right in the middle of a VC winter, relying on the massively overlooked scientific talent and low cost of living in Southern Europe and Latin America to drive outsized returns. 
🎧 Listen to the full episode to hear why Eatable Adventures views startups like teenagers and when they actively start pushing CEOs toward the exit. 

Key Facts Eatable Adventures:
José Luis Cabañero: https://www.linkedin.com/in/jlcabanero/
Website: https://eatableadventures.com/
Headquarters: Madrid, Spain
Goal: To deploy €100K-€300K pre-seed/seed checks (securing 5-10% equity) into Deep Tech and AI-driven AgriFood startups, operating primarily out of Southern Europe and Latin America.
Milestone: Currently raising a new €50M Fund II, backing their aggressive expansion strategy that includes running 12+ acceleration programs annually and maintaining a portfolio of nearly 40 companies.

Blurb
Eatable Adventures is a food innovation accelerator and builder — not an observer. Led by José Luis Cabañero and Mila Valcárcel, their collective of food scientists, engineers, investment strategists, and former founders works from inside the food system to turn ambition into real-world outcomes. By aligning strategy, capital, and execution simultaneously, Eatable Adventures creates the operating models, hubs, and ecosystems that move ideas from vision to traction — testing in real conditions, scaling what holds up, and owning the result. Their mission: build a food system that's safer, healthier, and more sustainable — one that has a heartbeat.