Source: Chobani

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Foodtech companies raised $4 billion in the last quarter of 2020, much of which was spurred by the continued investment in the food tech space as consumers adopted new behaviors around grocery shopping, restaurant takeout and home delivery.

In CPG news, Chobani and Oatly are eyeing an IPO that could value each of the companies at a whopping $10 billion. Aleph farms has debut the world’s first cell-cultured ribeye steak. Post Holdings has launched a SPAC to raise up to $400 million.

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Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

6. Chobani Eyes 2021 Initial Public Offering – Wall Street Journal

The Greek yogurt maker hopes an IPO could value the company at as much as $7b to $10b.

7. Oatly Weighing $10B Value in US IPO – Bloomberg

The IPO could come as soon as May with only a US share sale for now.

5. Food Tech Companies Raised $4B in Q4 2020 – The Spoon

Cultured meat companies raised more than $383m, and funding for cultivated ag companies hit a record $1.6b in 2020. Retailers have responded to the surge in grocery with investments that will spur further e-commerce adoption.

1. Israel: Aleph Farms & Technion Debut World’s First Cell-Based Ribeye Steak Prototype – Green Queen

The prototype uses 3D bioprinting tech and is grown directly from the cells of cows.

2. Post Holdings Launches SPAC to Raise Up to $400M – Food Dive

The CPG maker is expected to stay close to the food and beverage space it knows well as it looks for companies that will benefit from the experience of its management team.

3. DoorDash Adds Startup Chowbotics for Meal Preparation – Wall Street Journal

Financial terms were undisclosed. DoorDash is exploring how automation could help restaurants expand menu and market.

10. Pairwise Raises $90M to Develop New Fruit and Vegetable Varieities Using CRISPR – Food Dive

Pontifax Global Food and Agriculture Technology Fund led the round. Funding will be used to develop and bring to market more produce with improved taste, enhanced convenience, increased shelf life and more.

11. Danny Meyers Starts a SPAC – Restaurant Business

The $250m blank-check company is looking to acquire businesses across a wide range of industries similar to the people culture that USHG has nurtured.

4. Rodale Enlists Cargill in Unlikely Alliance to Increase Organic Farmland – Civil Eats

Together with poultry company Bell & Evans, the duo is launching the US Organic Grain Initiative, designed to transition 50k acres of corn and soy to organic and help fill a growing gap in domestic organic animal feed.

12. Where Does Grocery Go Next with Online Fulfillment?

Arthur Chow, VP at S2G Venture’s, explains why Amazon’s early foundation may provide a clue as to why brick-and-mortar will still be needed to build a resilient grocery supply chain.

9. 5 Actions to Reboot Food Retail

We have a responsibility to all stakeholders in our supply chains to pursue deep and substantive change, starting with the social and economic issues that underlie how we grow, make, distribute and sell food. Errol Schweizer, host of The Checkout Radio and former VP of grocery for Whole Foods Market, shares 5 actions food retailers, brands and supply chain stakeholders must take to create a more fair, just and sane food system.

8. How Thrive Market, Once Upon a Farm, Omsom and Tagger Media Are Reimagining Discovery, Acquisition and Loyalty

The unprecedented events of the last year forced food brands to quickly adapt to their customer’s needs and shopping behaviors, while also navigating a rapidly changing grocery retail landscape. Founders share how they grew their businesses through new approaches to customer discovery, acquisition and loyalty.

14. Food & Ag Anti-Racism Resources + Black Food & Farm Businesses to Support

Check out our list of resources to learn about systemic racism in the food and agriculture industries. We also highlight Black food and farm businesses and organizations to support.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post Chobani & Oatly Eye $10B IPOs, Foodtech Companies Raised $4B in Q4 2020 + More appeared first on Food+Tech Connect.

Source: Fast Company

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Nature’s Fynd, the $150 million-backed food tech company, has launched its vegan cream cheese and meatless patties made from fungus from Yellowstone National Park. In other CPG news, the World Health Organization announced that the coronavirus could possibly be transmitted on frozen packages of food.

Consumers spent a whopping $486 billion in takeout food last year, accounting for 63% of all restaurant spending. Fast food workers around the nation are protesting for their right to a $15 minimum wage.

Note From our Team: Our hearts are with our brothers and sisters in Texas. As people struggle with food, water, power and warmth, we hope you will join us in donating money, food and supplies to help the vulnerable in the city. Check out this comprehensive Google Document for a list of ways you can help.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. After Raising $150M in Equity and Debt, Nature’s Fynd Opens Its Fungus for Pre-Orders – TechCrunch

The company has launched its non-dairy cream cheese and meatless breakfast patties for pre-order, made from fungus found in the wilds of Yellowstone National Park.

2. Can Frozen Food Spread the Coronavirus? – NPR

At a news conference this week, the World Health Organization made a surprising statement: The coronavirus could possibly be transmitted on frozen packages of food.

3. Consumers Spent $486B on Takeout in 2020 – The Spoon

Consumers spent $769b ordering food from restaurants last year, with takeout orders accounting for 63% of those sales.

4. Global Plant-Based Protein Market Now Worth $10.3B – Green Queen

Driven by shifting consumer trends in high-growth markets in Asia-Pacific, the researchers expect the plant-based protein market to top $15.6b within the next five years.

5. Texas Livestock Industry Reels From Storm, Outages – Wall Street Journal

Herds are threatened by low temperatures and a lack of feed, while some milk processors have had to shut down amid power outages.

6. Standard Cognition Hits $1B Valuation with $150M Investment – Grocery Dive

SoftBank Vision Fund 2 led the round. Funding will be used to scale its operations as it pursues a goal of installing its computer vision-based checkout equipment in more than 50k retail locations during the next five years.

7. Little Leaf Farms Raises $90M to Further Scale Hydroponic Greenhouse-Grown Lettuce – Food Navigator

Equilibrium Capital led the round. Funding will go towards its East Coast expansion and building out new greenhouse sites in the region.

8. Where Does Grocery Go Next with Online Fulfillment?

Arthur Chow, VP at S2G Venture’s, explains why Amazon’s early foundation may provide a clue as to why brick-and-mortar will still be needed to build a resilient grocery supply chain.

9. 5 Actions to Reboot Food Retail

10. How Thrive Market, Once Upon a Farm, Omsom and Tagger Media Are Reimagining Discovery, Acquisition and Loyalty

11. Food & Ag Anti-Racism Resources + Black Food & Farm Businesses to Support

Check out our list of resources to learn about systemic racism in the food and agriculture industries. We also highlight Black food and farm businesses and organizations to support.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post Nature’s Fynd Launches Vegan Products from Yellowstone Fungi, WHO Confirms Frozen Food Can Transmit COVID + More appeared first on Food+Tech Connect.

Source: Bloomberg

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

AgFunder has released its 2021 investment report, which has found that startups raised a whopping $26.1 billion in 2020, a 34.5% growth over 2019. Oatly has quietly filed for its IPO, which may value it over $10 billion. Costco has raised its hourly wage to $16 an hour.

Alicia Kennedy makes a strong case for why food tech innovation is useless without justice. The planet needs a radical restructuring of land use, not steaks made in a lab.

Last but not least, USDA data has found that nearly all pandemic bailout funds went to white farmers.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. On the Future – From The Desk of Alicia Kennedy

Alicia Kennedy makes a strong case for why food tech innovation is useless without justice. “We know what the planet needs, and it’s the radical restructuring of land use. We know what the people need, which is self-determination around farming for the Global South, as well as for the Black, brown, and Indigenous people upon whose land the United States and other nations settled. Instead, we’re getting steaks made in a lab. Who asked for this?”

2. 2021 AgFunder AgriFoodTech Investment Report – AgFunder

Startups raised $26.1b in 2020, a 15.5% year-over-year increase, which we expect to increase to more than $30b as new 2020 deals come to light. This would represent 34.5% growth over 2019.

3. Oprah-Backed Drink Maker Oatly Files for US IPO – Bloomberg

The company is considering seeking a valuation of around $10b.

4. Costco Raises Its Minimum Wage Above Rivals Like Amazon, Target and Best Buy – CNN

Costco will raise its starting rate for hourly store workers in the United States to $16 an hour. It currently has around 180k US employees, and 90% of them work hourly.

5. USDA Data: Nearly All Pandemic Bailout Funds Went to White Farmers – EWG

White farmers received nearly 97% of the $9.2b provided by October 2020 through CFAP, four times more than the average Black farmer.

6. Food Techs Raised $18.1B in 2020 As Pandemic ‘Fundamentally’ Shifts Consumer Trends – Green Queen

According to data from PitchBook, cell-based agriculture startups raised a record total of $1.6b, $383.2m of which were bagged by cultivated meat firms, marking a 3-fold increase compared to deal values in 2019.

7. Germany: Urban Agriculture Giant Infarm to Reap $250M from Next Fundraising – Sky News

The financing will be completed later this year and is expected to crystallize unicorn status for Infarm.

8. Bio-Fertilizer Startup Anuvia Raises $103M Series C to Expand Its GHG-Reducing Crop Input – AgFunder

TPG ART and Pontifax AgTech led the round. The new funding will go towards increasing its production capacity.

9. Olo Files to Go Public with $100M Offering – Restaurant Dive

The software company posted a 94% increase in revenue during 2020 as customers shifted toward digital ordering channels during the pandemic.

10. Sweetgreen, Momofuku Founders Join $42M Bet on Mini-Marts – Bloomberg

Foxtrot has announced a Series B funding round to expand its chain of upscale convenience stores. Almanac Insights is leading the round.

11. Chinese Grocery App Xingsheng Youxuan Raises $2B in New Funding Round – Reuters

Sequoia Capital China led the round. The three-year-old company delivers online bulk orders to offline grocery stores located inside or near residential communities.

12. Restaurant-Software Provider Toast Prepares for IPO – Wall Street Journal

Toast tapped Goldman Sachs and JPMorgan to underwrite a possible listing later this year. It could also consider other options including a sale or combination with a blank-check company.

13. Where Does Grocery Go Next with Online Fulfillment?

Arthur Chow, VP at S2G Venture’s, explains why Amazon’s early foundation may provide a clue as to why brick-and-mortar will still be needed to build a resilient grocery supply chain.

14. 5 Actions to Reboot Food Retail

15. How Thrive Market, Once Upon a Farm, Omsom and Tagger Media Are Reimagining Discovery, Acquisition and Loyalty

16. Food & Ag Anti-Racism Resources + Black Food & Farm Businesses to Support

Check out our list of resources to learn about systemic racism in the food and agriculture industries. We also highlight Black food and farm businesses and organizations to support.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post Oatly’s IPO, Costco Raises Minimum Wage to $16, AgriFoodTech Startups Raised $26.1B in 2020 + More appeared first on Food+Tech Connect.

Source: Starbucks

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Fresh off the heels of Oatly’s IPO last week, the company has announced a nationwide rollout at Starbucks cafes. Beyond Meat has also nailed global deals with McDonald’s and Yum! Brands, which will expand its reach to more than 50,000 restaurants in more than 150 countries.

Danone has begun its search for a new CEO, replacing Emmanuel Faber, in an attempt to alleviate pressure from shareholders who have called for new management to revive the world’s largest yogurt maker.

Last but not least, Instacart has raised $265 million, doubling its valuation to $39 billion.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Oatly Enters Starbucks Cafes Nationwide As It Prepares for a Big Year – CNBC

Starbucks cafes nationwide will carry Oatly’s nondairy substitute starting Tuesday.

2. Danone Starts Search for New CEO as Faber to Give Up Role – Bloomberg

Emmanuel Faber will step down as chief executive officer in an attempt to alleviate pressure from shareholders who have called for new management to revive the world’s largest yogurt maker.

3. Instacart Doubles Valuation with $265M Funding Round – Forbes

The round was led by existing investors, including Andreessen Horowitz, Sequoia Capital and others. The new funding will be spent on advertising and to connect customers with retailers, as well as increase corporate headcount by 50% in 2021.

4. New ‘Vegan Dow Jones’ Index Tracks Global Publicly Traded Plant-Based Stocks – Green Queen

VegTech currently features 21 companies and will be reporting monthly to reflect the investment sentiment and health of the industry.

5. Beyond Meat Confirms 3-Year Deal With McDonald’s, Major Collab with Yum! Brands KFC, Pizza Hut & Taco Bell – Green Queen

The partnership with Yum! will expand Beyond Meat’s reach to 50k restaurants in more than 150 countries. It will become the preferred supplier of the McPlant burger, which is currently being trialed in Denmark and Sweden before a global roll-out.

6. Chipotle Will Link Executive Compensation to Environmental and Diversity Goals – CNBC

The burrito chain is following in the footsteps of Starbucks and McDonald’s, both of which recently announced that performance for racial and gender diversity goals will impact executive compensation plans.

7. Gov Greg Abbott’s Decision to Fully Reopen Restaurants Puts Service Industry Workers at Even More Risk – Eater

Without a plan to vaccinate food service workers, the governor’s plan to roll back capacity limits and the mask mandate endangers some of Texas’s most vulnerable.

8. Canada: Farmers Edge Completes $99M Toronto IPO, Shares Jump 18% – AgFunder

Farmers Edge said it will use most of the proceeds for business expansion, with a focus on internal growth based on existing partnerships.

9. Germany: Thiel-Backed Psychedelics Firm Hits $2B Valuation – Bloomberg

Atai Life Sciences has raised $157m ahead of its IPO. Founder Christian Angermayer and Thiel Capital led the round.

10. Deliverr Scores $170M to Bring Fast Delivery to Every E-Commerce Vendor – TechCrunch

The round includes $135m led by Coatue and $35m in the form of a convertible note led by Brookfield Technology Partners. Funding will go towards expanding its team.

11. Has a Startup Finally Found One of Food Science’s Holy Grails with Its Healthy Sugar Substitute? – TechCrunch

Y Combinator graduate Supplant has raised $24m for its sugar replacement from Manta Ray, Khosla Ventures, Felicis and others. Funding will be used to start commercializing its low-cost sugar substitute.

12. Thousands of Farmworkers Are Prioritized for the Coronavirus Vaccine – New York Times

A landmark initiative in California is taking vaccines to the fields, targeting an immigrant work force that is at high risk for Covid-19. Many of the workers are undocumented, raising questions about whether they should have priority.

13. Where Does Grocery Go Next with Online Fulfillment?

Arthur Chow, VP at S2G Venture’s, explains why Amazon’s early foundation may provide a clue as to why brick-and-mortar will still be needed to build a resilient grocery supply chain.

14. 5 Actions to Reboot Food Retail

15. How Thrive Market, Once Upon a Farm, Omsom and Tagger Media Are Reimagining Discovery, Acquisition and Loyalty

16. Food & Ag Anti-Racism Resources + Black Food & Farm Businesses to Support

Check out our list of resources to learn about systemic racism in the food and agriculture industries. We also highlight Black food and farm businesses and organizations to support.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post Oatly and Starbucks Go Steady, Danone CEO Steps Down Amidst Investor Pressure + More appeared first on Food+Tech Connect.

Source: VMG Partners

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

VMG Partners has closed an $850 million fund to provide early-stage funding and support to burgeoning F&B brands. Deliveroo is planning a London stock market listing that could value it at a whopping $7 billion. Berlin-based urban farming startup Infarm has raised $100 million to grow its team and expand into new crops. Slovenia-based Juicy Marbles has debut the world’s first marbled filet mignon made entirely of plants.

Last but not least, a new report reveals that 931 million tons of food went to waste in 2019, with more than half coming from individual households.

Our newsletter takes a lot of time and resources to produce. Make a one time or monthly contribution to help us keep it going. Whether it’s $5 or $500, every bit helps and shows us that you value our work.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. VMG Partners Raises $850M for New Growth Fund – Food Dive

The private equity firm has bet on a number of startups that grew into major brands, including Kind, Bare Snacks, Daily Harvest and Pirate Brands.

2. In One Year a Billion Tons of Food Got Wasted—Mostly at Home – Bloomberg

Some 931m tons of food went to waste in 2019. Individual households were responsible for more than half of that, with the rest coming from retailers and the food service industry.

3. UK: Deliveroo to Deliver $7B Dual-Class London Listing – Reuters

Deliveroo plans a London stock market listing that could value the firm at around $7b and mark the biggest new share issue in Britain in three years.

4. UNFI Branches Out into Bitcoin and a Local Marketplace – Grocery Dive

UNFI has launched a bitcoin partnership with Coid Coin that places kiosks inside 4k grocery stores where shoppers can buy, sell and trade digital currency with cash.

5. Urban Farming Startup Infarm Raises Extra $100M to Expand – Bloomberg

Funding will go towards strengthening its presence in existing markets, hiring more people and venturing into new crops including mushrooms, tomatoes and chillies. Financing came from existing investors on top of the $170m raised in September.

6. Slovenia: Juicy Marbles Debuts World’s First Plant-Based Marbled Filet Mignon Steak – Green Queen

The plant-based filet mignon was developed using its patent-pending “reverse grinder” technology.

7. Independent Restaurants Lobbied Hard for Targeted Economic Relief. Now, They’re Finally Getting It – Washington Post

The Independent Restaurant Coalition, formed during the pandemic, pushed Congress hard for the $28.6b revitalization fund.

8. Covid-19 Stimulus Bill to Provide $4B Debt in Relief for Black Farmers, Other Farmers of Color – The Counter

The legislation would forgive loans held by producers who have been racially discriminated against by the federal government, a long-sought win for civil rights advocates.

9. Oatly Chooses UK to Open One of the Biggest Plant-Based Dairy Factories in the World in 2023 – Green Queen

The facility is expected to be able to churn out 300m liters of oat milk annually, and will be powered by 100% renewable energy.

10. Who Knew High-Tech Farming of High-Priced Japanese Strawberries Could Be Worth $50M to Investors? – TechCrunch

Funding came from SPARX’s Mirai Fund, Sony Innovation Fund and others. Oishii will use the capital to expand production to reach more domestic and international markets as well as expand into other cultivars.

11. Investors Get a Rise Out of Walmart’s Agreement to Stock More Beyond Meat – TechCrunch

Beyond Meat shares soared today on the heels of an announcement that 900 Walmart stores will now be stocking its products.

12. 27 Inspiring Women Reshaping the Food System – Food Tank

This International Women’s Day, Food Tank is celebrating 25 inspiring women working to close the gender gap in the food system.

13. 80+ Female FoodTech Founders, Leaders And Investors You Need To Know – FoodHack

Founders, leaders and innovators in the food tech space working on everything from cell-based meats to media outlets, microalgae drinks to upcycled beverages, functional foods to foodtech funding and more.

14. Cultivated Meat Can Cause Up to 93% Less Global Warming – New Food Magazine

New studies show that cell-cultured meat may cause up to 92% less global warming, 93% less air polution and use up to 95% less land and 78% less water compared to conventional beef.

15. CDC: On-Site Restaurant Dining Leads to Increased Rate of Covid-19 Cases, Deaths – Restaurant Dive

The study comes as Texas, Mississippi and Massachusetts reopen dine-in service at 100% capacity. The NRA called it “an ill-informed attack on the industry hardest-hit by the pandemic.”

16. Urban Farming Startup Infarm Raises Extra $100M to Expand – Bloomberg

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post VMG Partners Raise $850M, 1B Tons of Food Wasted in 2019 + More appeared first on Food+Tech Connect.

Source: Vegconomist

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

It is with a heavy heart that we join the food world in mourning the passing of Greg Steltenpohl, founder of Califia Farms and Odwalla, a leading voice in the plant-based movement over 40+ years.

A new report from the Good Food Institute has found that alternative protein startups raised $3.1 billion in 2020, three times the amount raised by the sector in 2019. Asian and Hispanic specialty grocer Weee has raised $300 million to grow its geographic reach and expand into new categories. Israeli startup MeaTech has raised $22 million on Nasdaq, making it the first cultured meat IPO in the US.

Last but not least, lawmakers in Mexico have approved a bill to legalize recreational cannabis.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Why Greg Inspired: A Remembrance – BevNet

It is with a heavy heart that we join the food world in mourning the passing of Greg Steltenpohl, founder of Califia Farms and Odwalla, a leading voice in the plant-based movement over 40+ years. Jeffrey Klineman writes a wonderful tribute in honor of this giant’s life.

2. Record $3.1B Invested in Alt Proteins in 2020 Signals Growing Market Momentum for Sustainable Proteins – Good Food Institute

In 2020, the alternative protein industry raised $3.1b in investments—more than in any single year in the industry’s history.

3. Specialty Grocer Weee Valued at $2.8B in Latest Round – Bloomberg

The online grocer specializing in Hispanic and Asian foods raised more than $300m led by DST Global. Funds will be used for growing geographically, expanding to new categories, investing in warehouse automation, front-end development and recruiting new hires.

4. Israeli Cultured Meat Co MeaTech Raises $22M on Nasdaq – Globes

MeaTech will become the first lab grown meat company traded on Nasdaq. It will use net proceeds to advance its program to develop commercial technologies to manufacture alternative foods. It sank as much as 24% in its first trading day.

5. Mexico Set to Legalize Marijuana, Becoming World’s Largest Market – New York Times

Lawmakers in Mexico have approved a bill to legalize recreational cannabis, but in a country still marred by a deadly drug war, the proposal has proved divisive.

6. The Fall from Favor of Danone’s Purpose-Driven Chief – Financial Times

Ousting of Emmanuel Faber underlines challenge of pursing profits and ESG goals.

7. Restaurant Tech Firm Olo Shares Soar 39% in IPO As Online Ordering Surges – CNBC

The company priced shares at $25 per share, raising about $450m at a valuation of $3.6b. The stock closed on Wednesday at $34.75 per share.

8. A Covid Outbreak at a California Meatpacking Plant Started a Year Ago—and Never Went Away – Mother Jones

Almost half of the workers at the Farmer John pork processing plant have been infected with the virus. Currently, 784 workers at the plant have tested positive for Covid-19. Five have died.

9. UAE: Middle East Startup That Grows Food in the Desert Raises $60M in Funding – CNBC

Pure Harvest Smart Farms raised $50m via Islamic bonds led by Shuaa Capital, and Sancta Capital led the $10m. The capital will fund its Middle East expansion.

10. Shelf Engine Raises $41M for Grocery Order Automation – The Spoon

General Catalyst led the round. Funding will be used for continued expansion and bulk up its team of engineers, data scientists and supply chain automation experts.

11. Meet Plant-Ag, the $9B Startup That Will Let You Trace Your Food from Field-to-Plate – Fast Company

Karim Giscombe, a former director at Merrill Lynch, is raising $9b to build a supply chain that can track a vegetable’s journey from farm to grocery shelf. The platform will launch in the coming weeks.

12. Alexandria REIT to Form $250M Agrifoodtech SPAC – AgFunder

The SPAC will aim to acquire technologies and privately held businesses in the agritech and climate change mitigation sectors.

13. The New Stimulus Package Allocates Over $28B for Restaurants. Oregon Has a Lot To Do With That. – Eater

This relief package is a version of the Restaurants Act, a bill drafted and brought to congress by Portland’s own Rep Earl Blumenauer.

14. UAE: Cloud Software for Cloud Kitchens: Grubtech Raises $3.4M – The Spoon

Investors were undisclosed. Funding will go towards product development and expansion across the Middle East-North Africa region as well as Europe and the Americas.

15. On Canons – Alicia Kennedy

Women, trans and non-binary chefs are not covered, cited or partnered with in the same breathless manner as cis men are. That day isn’t coming anytime soon, though things are shifting.

16. Indoor Agtech: An Evolving Landscape of 1.3K+ Startups – AgFunder

Indoor agtech is increasingly able to address many of the most pressing challenges facing the entire agrifood value chain.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post Remembering Califia Founder Greg Steltenpohl, $3.1B Invested in Alternative Proteins in 2020 + More appeared first on Food+Tech Connect.

Source: Food Dive

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

A new report predicts that there is potential we could reach peak meat by 2030, and with more regulatory support, it could happen as early as 2025 in both the US and Europe. Alternative proteins could reach price parity with conventional meat by as soon as 2023.

Some big ticket investment rounds and IPOs made news headlines this week – Deliveroo is seeking a $12 billion valuation in its London IPO; Eat Just has raised $200 million; goPuff has raised $1.15 billion and Nuro has raised $500 million from Chipotle and Toyota’s Woven Capital.

Last but not least, a new study has found that we could save a whopping $100 billion in medical costs if we prescribe fruits and vegetables – food is medicine, afterall.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Alternative Proteins May Capture 11% of Total Protein Sales by 2035 – Food Dive

A new study estimates the segment will be valued at $290b in the next 14 years, as well as potentially reach price parity with conventional meat products as early as 2023.

2. UK: Amazon-Backed Deliveroo Seeks Valuation of Up to $12B in Its London IPO – CNBC

Shares will be priced between £3.90 and £4.60. That implies an estimated market cap of between £7.6b and £8.8b. Deliveroo will use proceeds to enhance its platform and push deeper into on-demand grocery deliveries.

3. Eat Just Raises $200M from Qatar Sovereign Wealth Fund, Microsoft Co-Founder – AgFunder

The Qatar Investment Authority led the round. Funding will be used to build capacity for Eat Just’s various products, accelerate R&D programs and build its brands internationally.

4. US Federal Court Rules That Hydroponic Produce Can Be Certified Organic – AgFunder

Representing several soil-based organic farmers, the Center for Food Safety had petitioned the government to cease certification of hydroponic operations.

5. SoftBank-Backed Delivery Startup goPuff Valued at $8.9B in New Funding Round, More Than Double from Five Months Ago – CNBC

The company raised $1.15b from investors including SoftBank Vision Fund 1. Funding will go towards US and international expansion, new technology, talent and product categories.

6. Nuro Raises $500M in Funding Round Backed by Toyota’s Woven Capital and Chipotle – Forbes

Last November, Nuro raised $500m led by T Rowe Price Associates. The company is refining its R2 vehicles, which were piloted in California last year.

7. “Prescribing” Fruits and Veggies Would Save $100B in Medical Costs – Fast Company

Researchers at Tufts University made the case that subsidized fruits and vegetables could prevent millions of cases of chronic diseases.

8. Germany: Gorillas, the On-Demand Grocery Delivery Startup, Raises $290M and ‘Surpasses’ $1B Valuation – TechCrunch

Coatue Management, DST Global and Tencent led the round. The company plans to reward its rider crew and warehouse staff with $1m bonuses.

9. Netherlands: Meatable Banks $47M from DSM, Others to Realize the Plur-Potential of Its Cellular Pork & Beef – AgFunder

New investors included DSM Venturing, Section 32, Vertex Pharmaceuticals and others. Funds will be used to advance small-scale production, diversify its product portfolio and moving further into beef.

10. Business Owners Struggle with Unrelenting Anti-Asian Violence in NYC – Eater

Asian and Asian-American restaurateurs say the murders in Atlanta have reinforced the rise in violence and fear they’ve already experienced for over a year.

11. 7 in 10 US Consumers Would Swap Cell-Based Chicken for Traditional Meat – Food Dive

The study done by an outside firm on behalf of Eat Just found overall attitudes toward cultured meat offerings are becoming more favorable.

12. Chile: Bezos-Backed Vegan Milk Startup in Chile Eyes ‘Unicorn’ Status – Bloomberg

The company aims to reach an estimated value of $1b in its next funding round. It’s citing a 2021 outlook of a fourfold increase in sales and a fivefold jump in volume, tripling its current worth.

13. India Food Delivery Startup Zomato Is Said to Plan IPO Filing Next Month – Bloomberg

The food delivery firm aims to raise about $650m. It could complete the listing in Mumbai before the end of September.

14. Bell & Evans Partners Cargill, Rodale Institute to Transition 50K Farm Acres to Organic – AgFunder

The program aims to convert 50k acres of corn and soybean fields to certified organic production over the next five years, to be used for Bill & Evan’s chicken feed.

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Source: AeroFarms

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

AeroFarms has struck a deal with Spring Valley Acquisition that will allow it to raise as much as $357 million and go public on the NASDAQ exchange. The company will be valued at $1.2 billion. Meanwhile, DoorDash’s IPO plunged by 30% after closing at £2.87 a share after investors voiced concerns over the company’s treatment of riders and profitability.

In other news, Squarespace has acquired restaurant reservation platform Tock for $400 million. LiveKindly Collective has raised $335 million to expand its brands into new geographic locations, fuel future acquisitions and partnerships, and invest in plant-based innovation.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. US Vertical Farming Group AeroFarms Joins Unicorn Club, Strikes SPAC Deal to Go Public – AgFunder

The transaction could allow it to raise $357m in gross proceeds. The deal will see AeroFarms go public on New York’s NASDAQ exchange, valuing the company at $1.2b.

2. UK: Deliveroo Drops $2B on Debut As Investors Spooked by ESG, Profitability Concerns – AgFunder

The company saw its share price plunge by as much as 30%. The stock closed at £2.87 – down 26.3% from its debut price.

3. Web Giant Squarespace Has Acquired Restaurant Reservation Platform Tock – Eater

The company has sold for $400m. It currently counts 7k hospitality clients across the country and has processed more than $10b in sales across 200 cities.

4. LiveKindly Collective Closes $335M Funding Round – Food Dive

The Rise Fund led the round. Funding will be used to accelerate LiveKindly Collective’s brands into new geographic locations, fuel future acquisitions and partnerships and invest in plant-based innovation.

5. As Worries Spark Over the Carbon Impacts of NFTs, Some Unexpected Boosters Come to Their Defense – GeekWire

Nori matches farmers who adopt practices that sequester carbon in the soil with consumers and businesses eager to offset their carbon emissions. It uses Ethereum to mint an NFT which serves as a database for tracking the sales.

6. Chinese E-Grocer Nice Tuan Raises $750M in Alibaba, DST-Led Round – AgFunder

The app allows shoppers to form groups via its WeChat mini-program, enabling them to collectively buy farm produce and other groceries in bulk at competitive prices.

7. Spain: Food Ordering App Glovo Raises $528M from Delivery Hero, Others – AgFunder

Luxor Capital Group and Lugard Road Capital led the round. Funding will be used to accelerate its 30-minute on-demand delivery and hire additional engineers.

8. Food Delivery Boom Continues As Everli Clicks for an Extra Portion of VC Funds – Verdict

Verlinvest led the round. The $100m cash injection will help Everli expand its operations further.

9. How Pizza Tech Startup Slice Is Taking Its $85M in Funding to Help Independent Pizzerias Beat Domino’s at Its Own Game – Business Insider

Slice wants to level the playing field for independent pizzerias looking to compete with Domino’s when it comes to technology.

10. How the Tesla of Chicken Hit a Ludicrous Growth Mode Thanks to Ghost Kitchens – Fast Company

Plant-based Nuggs embraced cloud kitchens as a way to just get product into people’s hands. Now it’s a vital testing lab and marketing tool.

11. Thrive Market Aims to Be World’s 1st Climate-Positive Grocer – Progressive Grocer

Thrive Market’s impact report included plans to become plastic neutral by 2023, allocate $4m towards food access and sustainability causes, and build upon its commitment to regenerative agriculture.

12. Reality Check, Please: The Market Will Not Stop Factory Farming – Michele Simon

Even if plant-based meats are “replacing” their animal counterparts, it leaves us with the same destructive and extractive business model invented by Big Food, with no improvements to human health or labor practices.

13. Decellularized Spinach Serves As an Edible Platform for Lab-Grown Meat – EurekaAlert

New research has found the veiny skeleton of a spinach leaf can support the growth of cell-cultured meat.

14. Influencers Are Infiltrating Ghost Kitchens, with the Help of Planet Hollywood’s Founder – Modern Retail

Robert Early’s Virtual Dining Concepts is partnering with celebrities and influencers in an attempt to cash in on the ghost kitchen gold rush.

15. Vegan Cheese Is Ready to Compete With Dairy. Is the World Ready to Eat It? – Eater

Long considered a punchline, vegan cheese has quietly but steadily infiltrated mainstream supermarket shelves.

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Source: Just Egg

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Plant-based food retail sales in the US reached $7 billion in 2020, outpacing sales of its animal counterparts for the third year in a row. In Europe, food tech companies raised €2.7 billion, propelled by alternative protein funding.

Food delivery giants abroad continue to raise funds in the race to take the lead – India’s Swiggy has raised $800 million; China’s MissFresh is weighing a $500 IPO; and Grab is said to raise at least $2.5 billion in a SPAC deal.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Plant-Based Food Worth $7B in 2020, Posting 27% Growth – Food Dive

Plant-based meat had $1.4b in sales, growing 45% overall compared to 2019 and making up 2.7% of all US retail packaged meat sales.

2. European Food Techs Raised €2.7B in 2020, Propelled By Alternative Protein Funding – Green Queen

Capital flowing into the cell-based and plant-based alternative protein startups rose by 178%, with a number of high-profile companies elevated to unicorn status.

3. India’s Swiggy Nears $5B Valuation in New $800M Fundraise – TechCrunch

New investors included Falcon Edge Capital, Goldman Sachs, Think Capital and others. The new round is said to value Swiggy at over $4.9b.

4. Singapore: Food Delivery App Grab Said to Target US Listing in Biggest Ever SPAC Deal – AFN

The company would raise at least $2.5b through a private investment in public equity transaction. The deal values it at around $35b.

5. A Fifth of Food-Output Growth Has Been Lost to Climate Change – Bloomberg

Climate change has been holding back food production for decades, with a new study showing that about 21% of growth for agricultural output was lost since the 1960s.

6. China: Tencent-Backed MissFresh Is Said to Weigh $500M US IPO – Bloomberg

The grocery delivery startup could look to raise as much as $1b in the share sale, though deliberations are still at an early stage.

7. Singapore-Based Retail Analytics Company Trax Raises $640M Series E Led by SoftBank Vision Fund 2 and BlackRock – TechCrunch

Funding will go towards expanding its products, which help brick-and-mortar stores manage their inventory, merchandising and operations.

8. Everli, the European Marketplace for Online Grocery Shopping, Bags $100M Series C – TechCrunch

Verlinvest led the round. New capital will be used to accelerate growth and further expand its international footprint.

9. NY Passes Budget That Includes $60M in Restaurant Relief – Restaurant Dive

The state’s 2021-2022 budget includes $25m for restaurants that provide meals to distressed and under-represented communities and up to $35m in tax credits to help restaurants rehire employees.

10. Futures Trader Burns Tyson with $200M Loss on Fake Cattle – Bloomberg

It took awhile to notice, but Tyson eventually realized late last year that more than 200k of its cattle seemed to have gone missing on a Washington state ranch.

11. ‘Model Minority’ Stereotype Obscures the Food Insecurity Asian Americans Face – Civil Eats

Immigration status and language barriers have long made food access in some Asian American communities a challenge. The pandemic and recent waves of violence and harassment have made the situation worse.

12. Biden Effort to Combat Hunger Marks ‘a Profound Change’ – New York Times

As millions of Americans lack enough to eat, the administration is rapidly increasing aid — with an eye toward a permanent safety net expansion.

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Source: Food Business News

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Amazon has unveiled Aplenty, a new private label food brand set to eventually include hundreds of products across a variety of center store categories. This could have huge implications Meanwhile, Impossible Foods is in talks to go public, either through an IPO or merger with a so-called SPAC that would value the company at around $10 billion or more.

In other news, several large investments closed this week – Hazel Technologies raised $70 million to combat food waste; Atlast Food raised $40 million for its fungi-based bacon; and Pizza ordering platform Slice raised $40 million.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Amazon Unveils Aplenty, Its Newest Private Label Food Brand – Grocery Dive

The new line will soon include hundreds of sweet and salty snacks, frozen foods, baking mixes and standard pantry items in Amazon Fresh stores and online.

2. Impossible Foods in Talks to List on the Stock Market – Reuters

Impossible Foods is exploring going public through an IPO in the next 12 months or a merger with a so-called special purpose acquisition company (SPAC) that would value the company at around $10b or more, sources told Reuters.

3. Hazel Technologies’ Food-Waste Solutions Get $70M Boost from Investors – Forbes

Pontifax Global Food and Agriculture Technology Fun and Temasek led the round. Funding will go towards global expansion.

4. Maker of Mushroom-Sourced Bacon Raises $40M to Reach Grocers at Scale – Forbes

Investors included Stray Dog Capital, the founders of Applegate and Stonyfield Organics and Robert Downey Jr.’s Footprint Coalition Ventures. Atlas Food will use funding to construct and staff a new production facility.

5. Slice Raises $40M to Power Ordering and Marketing for Independent Pizzerias – TechCrunch

Cross Creek led the round. Funding will go towards expanding the number of pizzerias on its platform to 20k and improving its product and services.

6. This Taiwanese Ghost Kitchen Is Going Public in Canada with Ambitions of Bringing Asian Virtual Brands to the US – Business Insider

JustKitchen, valued pre-market at $30m, plans to bring popular Asian brands to the US in partnership with CloudKitchens and Kitchen United.

7. Spinach Serves As Cost-Efficient Edible Scaffold for Cell-Based Meat Production – Green Queen

Spinach leaves, when stripped of its layers to reveal its veiny “skeleton”, can be used as the vascular framework for bovine cells to grow isolated precursor cells.

8. Singapore: Grab Confirms Record-Breaking $40B SPAC Deal; Archival Gojek Nears $18B Merger – AgFunder

The deal will allow Singapore-based Grab to become a publicly traded company, giving it a post-money equity valuation of approximately $39.6b.

9. 2020: The Year Chinese Agrifoodtech Funding – AFN

Agrifoodtech funding in China rose 66% year-on-year in 2020 to reach $6b. This growth again underlines the agrifood sector’s resilience, considering that total private equity and VC funding across all sectors in China dropped by 50% from 2019 levels.

10. Cultured Decadence Raises $1.6M to Make Lobster in a Lab – The Spoon

Investors include Bluestein Ventures, Joyance Partners and others. Funds will be used to create what it says will be the first cell-cultured lobster meat in North America.

11. PAR Acquires Guest Loyalty Platform Punchh for $500M – The Spoon

The deal adds loyalty and guest engagement software to PAR’s existing arsenal of restaurant tech tools, which currently includes a wide range of hardware and software products for restaurants.

12. FarmTogether Completes ‘Largest Ever’ $22M Farmland Crowdfunding – AFN

The startup aims to provide accredited investors with access to institutional-grade farmland. During 2020, it reported a 178% growth of users.

13. How Mushrooms Took Over Food, Wellness and (Of Course) Drugs – Vox

Mushrooms’ extreme versatility; the pandemic-spurred interest in foraging; the passage of laws decriminalizing psychedelics; and the organic aesthetic of fungi all resulted in a moment where it’s hard to ignore the humble shroom.

14. Norway’s Kolonial Rebrands As Oda, Bags $265M on a $900M Valuation to Grow Its Online Grocery Delivery Business in Europe – TechCrunch

SoftBank’s Vision Fund 2 and Prosus co-led the round. Oda plans to use funds to expand to more markets, starting first with Finland and then Germany.

15. Is Booze the Next Frontier for Regenerative Agriculture? – Modern Farmer

Why alcoholic beverage producers are embracing the buzz-worthy farming practice.

16. Food Is Gen Z’s Top Spending Priority – Food Dive

Food took a 23% share of Gen Z’s spending this spring, with the greatest among upper-income male teens age 13 to 19.

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The post Amazon Launches Private Label Food Brand, Impossible Prepares for $10B IP0, Grab’s $40B SPAC Deal + More appeared first on Food+Tech Connect.

Source: Misfits Market

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

After quintupling its order volume amid the pandemic, Misfits Market has raised $200 million to fuel its continued expansion. Meanwhile in the grocery delivery space, Imperfect Foods made headlines when its grocery delivery workers voted to unionize.

In other news, JBS has acquired Netherlands-based Vivera for $408 million, opening the doors for the meat giant to expand its presence in the European plant-based meat space. PepsiCo has committed to converting the potato farms it works with to regenerative practices–across 7 million acres.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Misfits Funding Round Brings Valuation to $1.1B – Bloomberg

The grocery delivery company has raised $200m to expand its area of operation. The pandemic quintupled active customers and order volumes for the company last year.

2. Netherlands: JBS Expands Plant-Based Food Products with Vivera Acquisition – Bloomberg

The meat giant will pay $408m for Vivera, which has three facilities in the Netherlands and a research center. With the acquisition, JBS will also have its own plant-based production in Europe and expand its presence in the meatless space.

3. Grocery Delivery Workers at Imperfect Foods Vote to Unionize – Vice

About 80 delivery drivers unionized at a grocery delivery startup, but the company intends to challenge the results.

4. PepsiCo Is Scaling Up Regenerative Agriculture on 7M Acres of Land – Fast Company

The push will bring new techniques to sequester carbon to nearly all of the company’s agricultural footprint.

5. Oatly Reveals Growing Losses, Revenue in US IPO Filing – Bloomberg

Oatly reported a $60m net loss on $421m revenue in 2020, compared with a loss of $36m on revenue of $204m the previous year.

6. Everything Restaurants Need to Know About the Restaurant Revitalization Fund – Eater

The $28.6b will go fast, so establishments in need of help should gather documents quickly.

7. AB InBev Venture Arm to Help Clara Foods Scale Up Animal-Free Protein – Food Dive

This partnership is the first for ZX Ventures’ new BioBrew division, which will help precision fermentation companies make enough of their products to compete with those from traditional agriculture.

8. Belgium: Deliverect Gobbles Up $65M for a Platform That Streamlines Online and Offline Food Orders – TechCrunch

The startup has built a platform that manages all third party delivery apps and hardware through one seamless app for restaurants, dark kitchens and DTC CPG companies.

9. Plant-Based Seafood Market to Skyrocket, Increasing 13X to $1.3B in Next Decade – Vegconomist

The report also found that plant-based shrimp is to emerge as the most consumed type over coming years.

10. The Bull Case for a $100M New Jersey Deli – Wall Street Journal

Hometown, owner of a single deli in New Jersey, recently attained a market value in excess of $100m, despite booking just over $35k in combined sales over the past two years.

11. Squarespace Files to Go Public Through a Direct Listing – Restaurant Dive

The website-building platform, which has over 3m subscribers including restaurants, makes the move weeks after completing its $415m acquisition of reservation system Tock.

12. China: Luckin Coffee Notches $250M Investment – QSR

Proceeds of the investment will be used to facilitate restructuring and obligations under its settlement with the SEC after being accused of fabricating more than $300m in sales and overstating its revenue by 28%.

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The post PepsiCo Scales Regenerative Ag on 7M Acres, Misfits Brings Valuation to $1.1B, JBS Acquires European Plant-Based Meat Co + More appeared first on Food+Tech Connect.

Source: The Verge

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Big ag giants and startups are setting up carbon credits as Biden’s Green plan gains momentum. Environmental groups are calling it a scam. The agrifood tech sector as a whole raised a whopping $22.3 billion in funding in 2020.

Meanwhile, Beyond Meat has announced plans to launch its faux chicken this summer. Ezra Klein wrote an opinion piece calling for a moonshot for meatless meat – one that would put government money behind replacing animals for the betterment of our health and environment.

Last but not least, Epicurious is ditching beef recipes over concerns about climate change.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Beyond Meat Telling Customers Faux Chicken Is Coming This Summer – Bloomberg

After experimenting with faux chicken through trial runs with KFC, the company is ready to launch a chicken alternative this summer. The new and improved Beyond Burger will also hit supermarket shelves next week.

2. Agrifood Tech Companies Raised $22.3B in Funding in 2020 – Food Dive

From e-commerce and biotech crops to meal kits and the supply chain, this space has experienced a CAGR of 50% in investments during the last decade, and more are likely to come.

3. The Carbon Market Gold Rush in American Agriculture – Bloomberg

Agriculture accounts for 10% of US greenhouse gas emissions. Industry giants and startups are setting up carbon credits as Biden’s Green plan gains momentum.

4. Let’s Launch a Moonshot for Meatless Meat – New York Times

What we need is for government to put money and muscle behind the project — just as it’s doing for electric cars and weatherized homes and renewable energy — so that the future happens fast enough to save the present.

5. Israeli Startup BioMilk Becomes First Cell-Based Milk Maker to Go Public – Green Queen

The startup produces cow and breast milk from cells and plans to release its first samples over the next two years. It could be eyeing a US IPO on Nasdaq next.

11. Epicurious Has a Beef With Beef – New York Times

The popular cooking website will not publish new beef recipes over concerns about climate change.

11. Cava Restaurant Chain Nears $1.3B Value With New Funding – Bloomberg

The chain completed a $190m financing round that will hasten the company’s expansion. It plans to have 500+ outlets operating by 2025.

6. Indian Food Delivery Startup Zomato Files for $1.1B IPO – TechCrunch

A successful listing is poised to encourage nearly a dozen other unicorn Indian startups to accelerate their efforts to tap the public markets. Zomato has claimed a market-leading position in the Indian food delivery market.

8. Eat Just Debuts Plant-Based Egg Jianbing with Street Vendors Across Shanghai – Green Queen

The company is rolling out a guide showcasing street vendors who serve vegan versions of the popular breakfast food made with Just Egg.

10. Environmental Groups Call Biden’s Carbon Bank Plan a ‘Scam’ – Modern Farmer

The plan has major support from gigantic farmers who stand to profit from implementing carbon storage practices. Smaller organic farmers already doing it don’t have enough land to make much money in the credit market anyway.

7. Biden’s Climate Change Plan May Not Nix Cheeseburgers, but Science Says Beef Should Be on the Chopping Block – Washington Post

A GOP social media frenzy about Biden banning beef has no meat to it, but beef plays significant role in greenhouse gas emissions.

9. Cargill Enters JV with Vegan Fat and Blood Innovator Bflike for ‘Virtually Indistinguishable’ Plant-Based Meat and Fish Alternatives – Food Navigator

Financial terms were undisclosed. Bflike noted its formulations are able to produce finished products with similar cooked and raw visual appearance, texture, mouthfeel, melting behavior and cooking performance.

11. What 100 Days Means for Ag – Politico

The first 100 days of the Biden presidency clocks in this week, and Biden is expected to discuss climate initiatives, money for nutritional assistance, tax incentives to Black farmers and more.

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The post Beyond Meat to Launch Faux Chicken This Summer, Carbon Market Gold Rush + More appeared first on Food+Tech Connect.

Source: Sebastian Nevols / Eleven Madison Park [Official]

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

This week’s headlines were consumed in the world of faux meat – from news of Eleven Madison Park’s decision to go completely vegan to the approval of Impossible Foods’ key additive, heme, by the FDA. The topic even became a bipartisan conflict when Republicans accused President Biden of banning meat.

In the media, Civil Eats countered the New York Time’s opinion piece on launching a moonshot for meatless meat, and Alicia Kennedy questions what it means to be a conscious meat-eater in the age of an industrial and faux meat war.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Chef Daniel Humm Is Relaunching Eleven Madison Park as an All-Vegan Restaurant – Eater

No other white tablecloth restaurant of the same caliber in the city serves a menu that’s completely meat free, and of the 132 restaurants worldwide with three Michelin stars, none are vegan.

2. Impossible Foods Wins Ruling to Continue Use of Key Additive – Bloomberg

The 2019 decision removed a hurdle for Impossible in extending its burger sales from restaurants to grocery stores. It may be a sign of how questions about bioengineered food will be handled in the future.

3. Biden’s Fake Burger Ban and the Rising Culture War Over Meat – Vox

Biden’s not taking away your meat, as Republicans claimed. But partisan conflict over eating animals is just getting started.

4. We Don’t Need a ‘Moonshot’ for Faux Burgers—We Need To Hold ‘Big Meat’ Accountable. – Civil Eats

A recent opinion article called for massive government investment in plant-based and cellular meats. Here’s a smarter approach to reducing meat’s impacts.

5. Omnipork Gears Up for Nationwide US Launch of Plant-Based Pork – Food Navigator

The nationwide launch comes after its debut in restaurants in Los Angeles, San Francisco and Honolulu.

6. On Meat – Alicia Kennedy

In her process of writing a book about what it means not to eat meat in Western, meat-obsessed, settler-colonialist cultures, Kennedy questions what it means to be a conscious meat-eater in the age of an industrial and faux meat war.

7. Regenerative Agriculture Needs a Reckoning – The Counter

Why avoiding uncomfortable conversations about equity, race and access threatens to spoil a nascent movement’s environmental promise.

8. Hard-Hit Restaurant Rush for a Lifeline As $28B in Grants Go Up for Grabs – CNBC

The National Restaurant Association estimates that from March 2020 through April of this year 110k restaurants have closed either permanently or long-term.

9. Personalized Nutrition Startup Zoe Closes Out Series B at $53M Total Raise – TechCrunch

Zoe’s first product is a home testing kit that enables participants to learn how their body responds to different foods and get personalized nutrition advice, with the goal of improving gut health.

10. France: Taster Grabs $37M for Its Native Online Restaurants – TechCrunch

The company operates dozens of restaurants across 40 different cities that only exist on food delivery platforms. It now wants to partner with existing restaurants that don’t get a lot of online orders.

11. Denmark: Too Good to Go Expands Its Food Waste App Nationally Across the US – The Spoon

The first stop is San Francisco, with 200-plus food businesses participating. Users can browse surplus food options through the app from participating restaurants, bakeries and grocery stores at the end of every day.

12. Biden Quietly Preparing for Food Stamp Increase Without Congress – Bloomberg

The Biden administration is quietly laying the groundwork for a long-term increase in food aid for tens of millions of Americans, without going through the ordeal of a fight with congressional Republicans.

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The post Eleven Madison Park Goes Vegan, The Meat Culture War + More appeared first on Food+Tech Connect.

Source: Emily Shur / Inc [Official]

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Sweetgreen is preparing to IPO this year, following a $156 million investment round it closed in January that valued the company at $1.78 billion. The emerging MAGA faction of the political constituency, has given rise to a number of right-wing coffee shops across America that are all taking aim at Starbucks. Meanwhile, fast food brands are piloting reusable containers.

In plant-based news, Whole Foods founder John Mackey has invested in Upside Foods, formerly Memphis Meats, and Oatly expects to raise as much as $1.65 billion in its IPO. Motif Foodworks has gained exclusive commercial rights to extrudable fat technology, which replicates animal fat, and prolamin technology, which allows plant-based cheese to melt and stretch like animal-derived dairy. OsomeFoods has developed the world’s first plant-based hard boiled egg.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Salad Chain Sweetgreen Is Planning a US IPO This Year – Bloomberg

The company raised $156m from Durable Capital Partners in January, valuing it at $1.78b. That followed a $150m funding round in 2019.

2. Right-Wing Coffee Companies Want to Make Coffee Great Again – Vox

From Conservative Grounds in Florida to Covfefe Coffee in Maine, MAGA wants to come for Starbucks.

3. Whole Foods Founder Mackey Invests in Producer of Cultured Meat – Bloomberg

Upside Foods, formerly Memphis Meats, received about $500k from Mackey in addition to an undisclosed sum from Whole Foods.

4. Fast Food Brands Look at Reusables to Attempt to Solve Container Waste – AdWeek

Burger King, Starbucks, McDonald’s and Tim Hortons are all launching pilot programs.

5. Oatly Sees Valuation Possibly Over $10 Billion as US IPO Nears – Bloomberg

Oatly expects to raise as much as $1.65b for itself and its investors in an IPO, potentially giving the maker of plant-based food and drink products a total valuation of over $10b.

6. Singapore Manufacturer OsomeFood Says It Has Created the World’s First Plant-Based Hard Boiled Egg – Green Queen

OsomeFood’s product range is made from naturally occurring fungi that undergoes a fermentation process to create mycoprotein that carries the same essential amino acids that are present in meat products.

7. Germany: ‘Clean Meat As a Service’: Plug-and-Play Tech Turns Meat Producers into Cell-Based Pork Producers – Food Navigator

Innocent Meat is making an automated meat production system for industrial meat producers, providing them with bioreactors, cell media and growth factors, and access to smart software.

8. Texas Lawmakers Approve Bill Banning ‘Meat’ and ‘Beef’ from Labels of Plant-Based Foods – The Hill

The bill will also keep companies that produce food from insects, plants or cell cultures, not slaughtered animals, from using the label “meat,” “pork,” “poultry” or “beef.”

9. Oprah-Backed Apeel Wants to Help Grocers Peer Into Produce – Bloomberg

Apeel has acquired ImpactVision, maker of hyperspectral imaging tech, for an undisclosed sum.

10. Target Is Launching a Line of Plant-Based Food – CNN

Good & Gather includes more than 30 foods including vegan spreads, almondmilk creamer, oat milk, plant-based dips and meat and chicken alternatives.

11. Ginkgo Bioworks to Go Public at $15B Valuation As Ag SPAC Frenzy Continues – AFN

Ginkgo Bioworks said it will use the capital raised to dramatically increase the scale of its cell-programming tech platform.

12. China Enacts Food Waste Law, Brings in Ban for Binge-Eating & Fines for Leftovers – AFN

Consumers can now be fined up to $15.4k for binge-eating videos, and restaurants that consistently waste large amounts of food face fines of up to $7.7k.

13. Chipotle Is Sued by New York City Over Scheduling Practices – New York Times

The city seeks $150m in relief for employees, accusing the fast-food giant of “complete disregard” of a law governing workweeks.

14. AquaBounty Sells Out First 5T of GE Fish with Harvests to Start in May – Undercurrent News

The forthcoming harvests and sales will represent the end of a journey to market over three decades in the making.

15. Valmont Acquires Crop Analytics Startup Prospera for $300M – AFN

With Prospera on board, Valmont now claims to be the world’s largest, vertically integrated artificial intelligence company in agriculture.

16. New Guard 2021 – Eater

Meet the inspiring leaders using food to challenge conventions, empower their communities and make positive change.

17. Hunger Rates Plummet After Two Rounds of Stimulus – Politico

Republicans have long sought to shrink government aid, but Democrats see the data as proof that the direct payments are working as intended.

18. Consumers Believe Cell-Based Protein Will Make Up 40% of Their Meat Intake – Green Queen

Gen Zs were most open to trying cell-based meat, with 88% of respondents saying they would welcome them, while millennials followed closely behind at 76%.

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The post John Mackey and Whole Foods Invest in Cultured Meat Startup, Sweetgreen to IPO + More appeared first on Food+Tech Connect.

Source: Forbes

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Oatly’s long awaited public offering has finally hit the market, trading at $10 billion and raising $1.4 billion for the Swedish consumer brand.

The race to bring cultured meat to market gained steam this week with news of Eat Just’s $170 million investment to fuel the accelerated development of its cultured meat division.

As Covid restrictions ease, the restaurant industry is grappling with a labor shortage – an added stress on top of trying to recoup lost revenue.

Last but not least, Shanghai-based Dingdong Maicai has raised $1 billion and Goldbelly has raised $100 million for its food delivery platform.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Backed by Oprah and Blackstone, Oatly’s $10B IPO Hits the Market – Forbes

Oatly started trading at a $10b valuation after an initial public offering that raised $1.4b for the Swedish consumer brand.

2. Eat Just’s Cultured Meat Unit Raises $170M in Funding – Bloomberg

The company is aiming to ramp up production and sales of the product in Singapore and, when possible, in the US as well. It plans to produce in the thousands of pounds range this year.

3. How the Labor Shortage Is Shifting Restaurant Strategy – Restaurant Dive

Diners are returning in droves as Covid-19 dining room restrictions ease, but staff are hard to come by, creating a difficult balancing act for operators trying to recoup lost revenue.

4. Chinese Produce Platform Dingdong Maicai Raises $1B from SoftBank, Coatue – AFN

The Shanghai-based grocery app said it will use the funding for regional expansion, enhancement of its supply chain capabilities and to hire more staff.

5. A $100M Bet on Cross-Country Restaurant Delivery – New York Times

The question now is whether the trends that Goldbelly and its new investors plan to capitalize on will outlast the pandemic, or whether a surge in at-home dining will abate as more people feel comfortable eating in restaurants again.

6. Rapper Drake Invests in Faux-Chicken Maker’s $40M Round – Bloomberg

The new funds will help Daring Foods roughly triple its retail distribution, which already includes Kroger and Costco, to more than 4.5k US stores this year.

7. Banks Fight $4B Debt Relief Plan for Black Farmers – New York Times

Lenders are pressuring the Agriculture Department to give them more money, saying quick repayments will cut into profits.

8. Hundreds of PPP Loans Went to Fake Farms in Absurd Places – The Counter

An online lending platform called Kabbage sent 378 pandemic loans worth $7m to fake companies (mostly farms) with names like “Deely Nuts” and “Beefy King.”

9. 80% of Consumers Are Open to Trying Cultivated Meat – Food Dive

Millennials and Gen Z are the most likely to eat cultivated meat, while baby boomers remain more skeptical.

10. Singapore: Impossible Burger to Roll Out Across 300+ 7-Eleven Singapore Locations, Marking First Convenience Store Debut in Asia – Green Queen

The plant-based Impossible Deluxe Burger will make its convenience store debut in Asia at over 300 store locations of 7-Eleven Singapore.

11. General Mills Buying Tyson Foods Pet Treats Business for $1.2B – StarTribune

The Minnesota food maker expands its presence in the fast-growing pet food aisle. Tyson Foods’ pet brands include Nudges, Top Chews and True Chews.

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Source: Forbes

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

The world’s largest meat supplier was hit by a ransomware attack over the weekend by what is believed to be a Russian hacking group. The attack targeted operations in the US, Canada and Australia, forcing 13 of its US plants to close and raising concerns yet again about consolidation in the meat industry.

In other news, Tesla has filed trademarks for three different restaurant concepts. Target has launched a line of 30 new plant-based products, all priced under $5.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. JBS Cyberattack Shines a Spotlight on the Biggest Risk to Big Meat: Consolidation – Forbes

The ransomware attack, thought to have been perpetrated by a Russian hacking group, targeted operations in the US, Canada and Australia and forced 13 of its US plants to close.

2. The JBS Ransomware Hack Was Only the Latest in a Surge of Cyberattacks on the US Food System – The Counter

The meat giant joins Wendy’s, MillerCoors, and Mondelez among cyberattack victims in recent years. Cybersecurity experts say that this weekend’s hack is unlikely to be the last.

3. Tesla Files Trademark, Hinting at Elon Musk’s Restaurant Concept Plans – TechCrunch

The company applied for three new trademarks that will cover the categories of restaurant services, pop-up restaurant services, self-service restaurant services and take-out restaurant services.

4. Target Just Launched a Line of Plant-Based Meat Products for Under $5 Each – The Beet

Target’s Good & Gather in-house brand just launched a line of 30 new plant-based products, making the vegan trend more accessible to mainstream shoppers.

5. Nonalcoholic Beer Maker Athletic Brewing Raises $50M – Food Dive

Athletic Brewing will use the funds to support its expansion on the East Coast. Demand has exploded, with sales of nonalcoholic beer up 230% since 2018 when Athletic launched.

6. Israel: Precision Nutrition Startup DayTwo Raises $37M – The Spoon

The app provides users customized diet recommendations based on their gut bacteria. New funds will go towards technologies that help those with diabetic and metabolic diseases.

7. BIOMILQ Successfully Makes Human Milk Outside of the Breast – The Spoon

The startup’s product has the macronutrient profiles that match the types and proportions of proteins, complex carbohydrates, fatty acids and other bioactive lipids present in human breastmilk.

8. Aqua Cultured Foods Debuts Microbial Fermentation Whole-Muscle Cut Seafood Alternative – Green Queen

The whole-cut analogues include shrimp, calamari, ahi tuna and fish fillets. Its first product will be a frozen popcorn shrimp.

9. Over 60% of Nestlé’s Products Are ‘Unhealthy’ & the Food Giant Knows It, According to Leaked Documents – Green Queen

The company admitted that some of its categories and products will never be ‘healthy’ no matter how much it renovates.

10. Noodle Maker Bets Americans Will Dig Quorn’s Alternative Chicken – Bloomberg

Monde Nissin will use some of its $1b IPO proceeds to expand its Quorn Foods fake meat business in the US, taking on Beyond Meat and Impossible Foods.

11. Belcampo’s Meat Deception Is Deeper Than It Let On – Eater

Far from an “isolated incident,” employees say intentionally mislabeling meat has been a quiet practice for months at more than one location of Belcampo Meat Co.

12. Restaurant Lobbying Groups and CEOs Contributed to Many of the GOP Governors Now Ending Pandemic Unemployment Benefits – The Counter

The governors parroted talking points pushed by some of their past donors: that $300 per week pandemic payments were encouraging people to turn down work.

13. California Senate Passes Bill to Decriminalize Psychedelic Drugs – FOX40

If passed, SB 519 will approve the use of mushrooms, MDMA, LSD, mescaline and ibogaine for combat veterans with PTSD and people with diagnosed or undiagnosed addictions and mental illnesses.

14. Amid Historic Drought, a New Water War in the West – New York Times

A drought crisis has erupted in the Klamath Basin along the California-Oregon border, with fish dying en masse and farmers infuriated that they have been cut off from their main water source.

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Source: The Spoon

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

In plant-based news, Simulate, the maker of plant-based Nuggs, has raised $50 million to speed the development of new products and expand internationally. Finless Foods has launched its first product, a plant-based raw tuna, as its cell-cultured sashimi is still in development. Geltor has debut its animal-free gelatin made from precision fermentation technology.

Last but not least, JBS was reported to dole out $11 million in bitcoin to a Russian hacking organization to resolve its ransomware attack and prevent a disruption in the meat supply chain.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Plant-Based NUGGS Maker Simulate Raises $50M from Ohanian Fund, McCain Foods – AFN

The company uses the mindset of software engineering to continually update its product, releasing new versions of its nuggets every time it makes improvements to their taste, texture, and other features.

2. JBS Paid $11 Million to Resolve Ransomware Attack – Wall Street Journal

The ransom payment, in bitcoin, was made to shield JBS meat plants from further disruption and to limit the potential impact on restaurants, grocery stores and farmers that rely on JBS.

3. China’s Race to Sell Groceries Online Is Getting Crowded – Wall Street Journal

Chinese grocery delivery startups MissFresh and Dingdong Maicai have filed to go public in the US as people continue shopping online for the delivery of everyday essentials.

4. Finless Foods Gears Up to Launch Its First Product… Plant-Based Tuna – Food Navigator

The plant-based substitute for raw tuna will be sold in foodservice channels in early 2022.

5. Geltor Debuts Animal-Free Collagen For Food and Beverage Markets – The Spoon

PrimaColl is a nature-identical replica of poultry collagen derived using precision fermentation technology.

6. Plant-Based Food Sector to Grow 100 Times Larger – Financial Review

A report on the shifts in the global food industry forecasts that global sales will climb from $14b to $1.4t within 30 years for plant-based food producers.

7. E-Grocer Hungryroot Raises $40M to Fuel Personalized Platform – Grocery Dive

The company, which uses artificial intelligence to build shopping carts for customers, plans to expand its offerings, boost marketing and invest in automation.

8. Grabango Raises a $39M Series B Round for Its Checkout-Free Grocery Technology – Forbes

The startup’s systems allow for existing stores to be retrofitted for cashierless checkout and has signed on five corporate chains.

9. Canada: JustKitchen Raising $20M, Expanding into the US, Asia – The Spoon

The company has a number of plans for this new funding, including international expansion, more software development and some brand acquisition.

10. After Closing $27M Maiden Fund, Tenacious Ventures Seeks to Scale Up Australian Agrifoodtech – AFN

Tenacious Ventures has invested $11.5m in six startups so far, with a further 10 deals expected out of its newly closed fund.

11. How Heart of Dinner Delivered Over 65K Meals to Asian Seniors in a Year of Struggle – Eater

Moonlynn Tsai and Yin Chang brought NYC’s restaurant community together to let Asian senior citizens know they’re not alone.

12. Cyberattack on Food Supply Followed Years of Warnings – Politico

Virtually no mandatory cybersecurity rules govern the millions of food and agriculture businesses that account for about a fifth of the U.S. economy. And now, the risk has become real.

13. How New York City Delivery Workers Are Re-Writing the Rules of Gig Work – Forbes

Los Deliveristas Unidos at Workers Justice Project have partnered with several City Council members to introduce 6 bills aimed at regulating delivery apps and improving the working conditions and quality of life for delivery workers.

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Source: Food Business News

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

The USDA plans to invest more than $4 billion through the Build Back Better Initiative to make critical supply chains stronger, an attempt to remedy challenges exposed during the pandemic. A new report has found that the cell-cultured meat market could reach $2.6 billion by 2030.

Major investments and IPOs made headlines this week: Motif Foodworks raised $226 million for its alt protein R&D and production; Boxed plans to go public with a $900 million valuation; Faire raised $260 million; and Brigg has raised $100 million.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. USDA to Invest Over $4B to Strengthen the Food Supply Chain – Supply Chain Dive

Part of the Build Back Better Initiative, the USDA will invest in making critical supply chains stronger, aiding food production and processing, improving food distribution and storage, and ensuring equitable market access for food producers.

2. $1.64M Cultured Meat 2021 Market is Expected to Reach $2.7B by 2030 at a CAGR of 95.8% – Vegonomist

A new study provides an in-depth analysis of the global cultured meat market, with current and future trends to elucidate the imminent investment pockets in the market.

3. Food System Change: ‘Who’s Making Decisions, Who’s Benefiting, Who’s Gaining the Wealth?’ Errol Schweizer’s Got Questions – Green Queen

Errol Schweizer talks the rise of conscious consumerism, supply chain ethics, agroecological philosophy, gig work and more.

4. Chanel, Adidas Invest in Companies and Funds Related to Sustainable Agriculture – FreshFruitPortal

Chanel is backing the Landcape Resilience Fund, which aims to raise $100m by 2025 to invest in projects to promote sustainable ag. Adidas is investing in Spinnova, a company that makes textile fibre out of wood or agricultural waste.

5. Motif FoodWorks Raises $226M to Tackle Plant-Based’s Challenges with Texture & Taste – AFN

The alt protein company, which leans on precision fermentation and cutting-edge materials science, will use proceeds to increase its R&D capabilities, scale and commercialize its plant-based protein tech, and add to its employee roster.

6. Boxed to Go Public in SPAC Deal Valuing Online Grocer at $900M – Grocery Dive

Boxed will go public in the US under its current name and receive $334m in net cash. The company sees an opportunity to license its in-house technology to other companies in the future.

7. Specialty Food Sales Hit Record $170.4B in 2020 – Food Dive

A rise in home cooking and baking bolstered demand for pantry staples, while more online shopping pressured the segment.

8. The Food Industry Must Lead on Climate Before Activists Eat Their Lunch – Forbes

The Exxon and Shell debacles portend a climate reckoning for food companies. The message here is clear: it is “open season” on any company or industry that shows a direct link to impacting climate with greenhouse gases.

9. Sequoia-Backed Faire Raises $260M to Hit a $7B Valuation – CB Insights

Faire is an AI-based platform that allows retailers to purchase wholesale merchandise for their stores. Its operations are spread across 80 countries, providing more than 200k retailers with over 20k brands. Funding will be used to expand across Europe.

10. Delivery and Fulfillment Platform Bringg Hits Unicorn Status As It Raises $100M – Grocery Dive

The company also recently teamed up with grocery e-commerce firm Stor.ai to let retailers choose between using their own fleet or third parties for delivery.

11. Cristiano Ronaldo Snub Sees Coca-Cola Market Value Fall by $4B – ESPN

Ronaldo’s removal of two Coca-Cola bottles at a Euro 2020 news conference coincided with a $4b drop in the market value of the American drink giant.

12. Vita Coco Owner Is Planning an IPO at Over $2B Value – Bloomberg

The owner of coconut water company Vita Coco is planning to go public this year after investors rushed to back Oatly’s initial public offering.

13. McDonald’s Hit by Data Breach – Wall Street Journal

The chain said hackers stole some data from its systems in markets including the US, South Korea and Taiwan, in another example of cybercriminals infiltrating high-profile global companies.

14. Popmenu Raises $65M for Its Restaurant Digital Marketing and Ordering Platform – The Spoon

Popmenu’s online suite of tools allow restaurants to build their own branded websites, with interactive menus and ordering software. It serves as an alternative to delivery marketplaces.

15. Food Banks Welcome $1B Investment by USDA – The Counter

Shortly after shutting down the controversial Farmers to Families Food Box program for good, Biden’s USDA refocused its efforts to tackle hunger.

16. SBA Rescinds Approval of 3K Restaurant Revitalization Fund Applications After Discrimination Claims – Restaurant Dive

The agency revoked approvals of women, veteran and other disadvantaged applicants after Texas and Tennessee judges issued injunctions on the disbursement of the funds, arguing the prioritization of certain operators was unconstitutional.

17. Yelp Records Its Highest Seated Diners Total Ever in May – Restaurant Dive

More than 3.7m diners used the Yelp app to dine out in May 2021— its highest totals ever — surpassing pre-pandemic highs.

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Source: Inc

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

Sweetgreen has confidentially filed for an IPO. The company’s last funding round earlier this year valued it at nearly $1.8 billion. Two cell-based meat companies announced their pilot plants — one in California belonging to Wildtype and one in Israel belonging to Future Meat Technologies — are operating this week.

“Food meets friends” startup Snackpass has raised $70 million to fuel its rapid growth that has exploded 7x in the last three months alone to 500k users.

Last but not least, Singapore University plans to offer Asia Pacific’s first ever alt protein course to undergraduate students developed in partnership with the Good Food Institute.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Salad Chain Sweetgreen Confidentially Files for Initial Public Offering – CNBC

The company’s last funding round earlier this year valued it at nearly $1.8b. Its 2019 revenue topped $300m.

2. Snackpass Gobbles Up $70M at a $400M+ Valuation As Its Social Food Ordering Platform Crosses 500K Users – TechCrunch

The startup is a social commerce platform for ordering from restaurants, with aims to disrupt the queue. It has seen its growth explode 7x in the last three months alone.

3. Singapore University To Offer Asia Pacific’s First Alt Protein Course – Green Queen

Undergraduate students at Nanyang Technological University will be able to join a new course dedicated to exploring novel meat alternatives.

4. Once Upon a Farm Acquires Baby Food Delivery Startup Raised Real – The Spoon

With this purchase, Once Upon a Farm will add a frozen direct-to-consumer product line to its lineup.

5. Cell-Based Meat Plants Come Online for Future Meat Technologies and Wildtype – Food Dive

The Israeli company plans to commercialize its products for the U.S. at its facility, while the seafood startup’s plant has an educational center and sushi tasting room.

6. Nature’s Fynd Gets FDA GRAS Approval for Its Yellowstone Park Fungi Protein ‘Fy’ – Green Queen

The startup can now use its fungi protein ingredient dubbed Fy to be used and sold in food products.

7. Small Farmers in California Face Tough Choices Amidst Drought – Civil Eats

After a historically dry winter, some growers are farming less land, switching crops, and trucking in water, or taking the season off entirely.

8. SoftBank-Backed Dingdong Targets Over $6B Valuation in US IPO – Reuters

The valuation represents a jump of over 20% from the $5.1b the company was worth after the Japanese conglomerate invested in it last month.

9. China: Tencent-Backed Missfresh Eyes $3.8B Valuation in US IPO – Reuters

The pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.

10. Delivery Service Gopuff Acquires rideOS for $115M – TechCrunch

Gopuff aims to use rideOS’s new IP to better power multimodal deliveries and reduce delivery times.

11. Scottish Alt-Protein Startup Enough Banks $51M Series B Led by Nutreco, Onassis Foundation – AFN

Enough is building a “first of its kind” protein factory with the aim of producing 1 million tons of mycoprotein each year by 2032.

12. Canada: Low-Sugar, Vegan Candy Startup Yumy Bear Will Go Public At $50M Value – Forbes

Canadian confectioner Yumy Bear that offers a line of low-sugar and vegan gummy will start trading on CSE in July under the symbol “YUMY” with an anticipated $50m enterprise value, and plans to expand to the US in 2022.

13. Prosus to Expand ‘Dark Stores’ in $16B Food Business – Bloomberg

Prosus NV, Europe’s largest consumer internet company, is planning to expand its grocery services using “dark stores” as competition booms in the global market for food delivery.

14. Uber Buys Remainder of Grocery Delivery Firm Cornershop – Grocery Dive

Uber is making the full acquisition nearly a year after launching its grocery service in the US.

15. Hong Kong: Chinese Husband-and-Wife Duo to Become Billionaires on Bubble Tea Chain’s IPO – Forbes

The company is seeking to raise up to $656m. Proceeds will be used to enhance its supply chain and open more than 600 stores in China this year and next.

16. Krispy Kreme Is Seeking a $640M IPO – Fortune

Since its acquisition by JAB in 2016, the chain has expanded its online presence. Its e-commerce business now accounts for close to a fifth of sales in the US.

17. California’s Drought Is So Bad That Almond Farmers Are Ripping Out Trees – Bloomberg

The famed farming valleys of California are being swept into what feels like permanent dryness, raising the specter of food inflation.

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The post Sweetgreen Files for IPO, Cell-Based Meat Plants Open + More appeared first on Food+Tech Connect.

Source: Eat Just

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

The senate has passed a first-ever climate mitigation bill for agriculture that will create new incentives and revenue sources for farmers in the carbon market. Long-time farmers are being forced to make better sense of their business as the western drought transforms the land, with broad consequences for the food supply.

Last but not least, Eat Just is mulling a $3 billion IPO later this year or early next year. Meanwhile, a jump in meat prices is forcing families all over the world to buy less as a broader move to plant-based eating is gaining traction.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

1. Senate Passes First-Ever Climate Mitigation Bill for Agriculture – The Fern

Under the bill, the USDA would help farmers enter the carbon market, touted as the private enterprise way to earn money while combating climate change.

2. Eat Just Mulls $3B IPO to Eventually Make Cruelty-Free Food Mainstream – Forbes

The $3b in valuation for its IPO will likely happen in Q4 2021 or early next year, an increase from the $2b valuation Bloomberg reported last October.

3. Meat Demand Is Under Threat Like `Never Before’ as Prices Surge – Bloomberg

A jump in meat prices is forcing families from Brazil to the Philippines to buy less just as a broader move to plant-based eating is gaining traction.

4. It’s Some of America’s Richest Farmland. But What Is It Without Water? – New York Times

A California farmer decides it makes better business sense to sell his water than to grow rice. An almond farmer considers uprooting his trees to put up solar panels. Drought is transforming the state, with broad consequences for the food supply.

5. The Food System’s Carbon Footprint Has Been Vastly Underestimated – Civil Eats

A new analysis pins one-third of global greenhouse gases on the food system by including long-overlooked factors such as transportation, packaging and waste.

6. Danone Buys Majority Stake in Coconut Products Maker Harmless Harvest – Food Dive

The new investment will provide Harmless Harvest with additional resources and operational capabilities to help it grow and expand its sustainability initiatives. The deal will accelerate the growth of Danone’s plant-based business.

7. Dating App Bumble Will Open Its First Café in New York in July – Bloomberg

Bumble Brew’s bricks-and-mortar debut has changed it from a date-friendly food destination to a “safe space.”

8. A Funding Frenzy and SPAC Listings Are Fueling the Indoor Growing Industry. But Does It Make Financial Sense? – Forbes

The indoor growing industry is hot among investors. More than $715m in funding has been secured by startups so far this year, amid the anticipation of two more public listings. But are expectations out of whack?

9. ‘This Is a Food Bank Now’: Workers Seized a McDonald’s in France – Washington Post

As the coronavirus overwhelmed Europe, the occupied building became the unlikely hub of an impromptu aid-distribution effort.

10. Google Debuts a New Website and Set of Resources for Americans Experiencing Food Insecurity – TechCrunch

The new website connects people to food support resources, including hotlines, SNAP information, and a Google Maps locator tool that points people to their local food banks, food pantries and school meal program pickup locations.

11. UAE: SoftBank Leads Funding to Vault Kitopi Past $1B Value – Bloomberg

The deal marks one of the largest funding rounds for a Middle East technology company. The cloud kitchen startup plans to expand in Saudi Arabia and start operations in new countries.

12. Czech Republic: Rohlik Raises $119M at a $1.2B Valuation to Grow Its 2-Hour Grocery Delivery Service in Europe – TechCrunch

The startup has built an online grocery ordering and delivery business selling grocery fare of both large and local small businesses. Funding will drive its expansion into Europe.

13. 2021 Restaurant Tech EcoSystem: Serving Up a Digital Lifeline – The Spoon

The pandemic’s economic toll on the industry has been grave, though notably, the toll was not evenly distributed. A higher level of digital maturity was a clear success indicator for most restaurants that survived the crisis.

14. The Restaurant Revitalization Fund Was Supposed to Help Businesses Recover from the Pandemic. It’s Plunging Them into Financial Uncertainty. – The Counter

In late May, the Small Business Administration stopped processing relief applications from women, veterans and people of color. Then the agency started rescinding their approvals.

15. AgTech VC Omnivore Raises $150M to Help Indian Farmers Boost Yields and Profitability – Green Queen

Fundraising is set to begin later this year and will support entrepreneurs and startups working on everything from predictive crop insights to AI-powered precision farming.

16. Biden Just Put a Beer Magnate in Charge of Solving the Global Hunger Crisis – Mother Jones

Born rich, Cindy McCain has little experience with hunger, agriculture or climate policy.

17. Local Kitchens Raises $25M for Its Virtual Food Hall Network – The Spoon

One notable feature of Local Kitchens is its ability to offer customers mix-and-match functionality when ordering digitally.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!

The post Biden Paves Way for Carbon Markets, Eat Just Mulls $3B IPO + More appeared first on Food+Tech Connect.