Source: Michigan Technological University

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.

Alpha Food Labs, our sister company, was commissioned by Beef + Lamb New Zealand and New Zealand Winegrowers to understand the current state and future market potential of regeneratively produced food and wine within the United States, Germany and the UK. The research reveals consumers may be willing to pay more for regeneratively-produced food, especially if science can show it tastes better, is better for people’s health and better for the environment.

Two US-based researchers have created a bio-based process that turns plastic waste into edible protein powder, bringing together the worlds of microorganism-based plastic recycling and food industry precision fermentation. Daily Harvest has raised $77 million, reaching unicorn status with a $1.1 billion valuation.

Last but not least, a crisis is unfolding for American farm exports. Backlogs and cancellations are hitting growers as costs rise, profits slump and overseas customers shop elsewhere.

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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.

1. Regenerative Agriculture Market Scan & Consumer Insights Report

Alpha Food Labs, our sister company, was commissioned by Beef + Lamb New Zealand and New Zealand Winegrowers to understand the current state and future market potential of regeneratively produced food and wine within the United States, Germany and the UK. The research reveals consumers may be willing to pay more for regeneratively-produced food, especially if science can show it tastes better, is better for people’s health and better for the environment.

2. Startup Daily Harvest Reaches Unicorn Status with $1.1B Valuation – Bloomberg

The company will put a portion of its $77m funding round into new distribution channels and its first brick-and-mortar location in Chicago.

3. Ireland: Nuritas Raises $45M to Scale Its Plant-Based Peptides Discovery Platform – AFN

Nuritas will use the funds to scale up its platform, which aims to unlock additional health benefits for food and beverage products.

4. Researchers Use Bacteria to Transform Plastic Into Edible Protein – The Spoon

Lu and Techtmann’s process brings together the worlds of microorganism-based plastic recycling and precision fermentation. The question is how the protein powder compares to the products on the shelf today.

5. Crunch at Ports May Mean Crisis for American Farms – New York Times

Backlogs and cancellations are hitting growers as costs rise, profits slump and overseas customers shop elsewhere.

6. Chinese VC Bits x Bites Hits $100M Final Close with Capital from Syngenta, Wilbur-Ellis – AFN

The fund will mainly target Chinese startups from seed to Series B stage with ticket sizes of between $1m and $3m.

7. New Emails Shed Light on Meat Company CEO’s Pandemic Lobbying – The Counter

The leaders of pork company Smithfield Foods and chicken producer Perdue Farms were in regular contact with government officials as the coronavirus began sweeping through their plants.

8. The Naked Market Flashes Some New Capital to Create Better-for-You Food Brands – TechCrunch

The startup has raised $27.5m to scale its existing brands, create new products and pursue M&A opportunities. It uses data and a “fast fail” method to bring products from idea to market in three months.

9. Vietnam’s Tiki Raises $258M in AIA-Led Round After E-Grocery Business Grows 2000% – AFN

Tiki — which is reportedly exploring an IPO in the US in 2022 or 2023 — said it recently reached 20 million registered users on its platform.

10. After 90K Restaurants Closed During the Pandemic, One Investment Fund Is Doubling Down on the Industry – Fortune

Mercado Partners’ Savory Fund raised two $100m funds that aggressively invested in seven new restaurant brands and opened 55 new restaurants.

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