Image source: New York Times
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.
Food is becoming a growing presence in the world of NFTs and the metaverse. The Sims has evolved into a world where players can farm, forage, cook and learn about the many ways people experience food.
Chicago’s Back of the Yard Algae Sciences has developed a cell-cultivated alternative to psychedelics made from toad venom, whose popularity has exploded and had devastating impacts on toad populations and their habitats.
Last but not least, business has boomed during the pandemic for Kroger, but that success has not trickled down to its vast work force of nearly 500,000 employees – a number of whom have reported being homeless, receiving government food stamps or relying on food banks to feed their families.
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. How The Sims Became the Internet’s Most Exciting Place to Eat – New York Times
The 22-year-old life simulation video game has evolved into a world where players can farm, forage, cook and learn about the many ways people experience food.
2. Are Psychedelics the Next Big Trend in Cellular Agriculture? – Green Queen
Chicago’s Back of the Yard Algae Sciences has developed a cellular agriculture alternative to psychedelics made from toad venom from algae heme.
3. The Hidden Ways Companies Raise Prices – Wall Street Journal
Businesses are passing their rising costs on to consumers with new fees, truncated services and reduced contents in packaged goods, which don’t always show up in inflation data.
4. USDA Invests $1B in Climate-Smart Agriculture – Foodtank
The initiative includes cover crops, low-till or no-till farming, agroforestry, rotational grazing and reforestation, among others, as examples of possible climate-smart conservation practices.
5. Business Booms at Kroger-Owned Grocery Stores, but Workers Are Left Behind – New York Times
A number of the stores’ nearly 500k employees have reported being homeless, receiving government food stamps or relying on food banks.
6. Why Famous People Are Joining Food Tech Advisory Boards – Food Dive
Hollywood A-listers including Leonardo DiCaprio and Ashton Kutcher, former government officials and other household names are working with companies, lending their expertise and cachet.
7. 7Shifts Raises $80M in Funding Round – Fast Casual
The platform helps restaurant operators connect all aspects of their HR processes. Investment comes on the heels of a significant year of growth in 2021, adding over 10k locations and over 400k workers to its platform.
8. Endless West Raises $60M to Expand Its Molecular Spirits Technology – Forbes
The company is looking to work with spirits brands of all sizes, to help them cut back on production costs while boosting sustainability. Its investment will double its production capabilities.
9. Empty Shelves Sapped Food Retailers of $82B in CPG Sales Last Year – Food Dive
Lost revenue opportunities peaked during the fall, when surging Covid-19 infections depressed on-shelf availability and pushed unrealized sales to $1.7b per week.
10. It’s Time to Hold Agrifood Corporates Accountable for Their Climate Commitments. This List May Help – AFN
AFN has compiled an extensive list of agrifood corporate climate commitments and pledges such as net-zero greenhouse gas emissions and regenerative ag.
11. Insect Ingredient Producer Raises $57M in Investments – Pet Food Processing
The company develops its sustainable ingredients from the larvae of the black solider fly, which are fed organic waste from the food industry. It plans to use investment to expand internationally and further its R&D into insect-based ingredients.
12. Cooks Venture Announces $50M Investment from PIUS – Meat + Poultry
The investment will help underwrite its proprietary broiler breed, which will expand the genetics program and build out infrastructure.
13. Korea: Envisioning Partners Closes on $64M Fund for Climate Tech Startups – TechCrunch
The firm now has $140m in investments in companies including Novoloop, Circ, Green Li-ion, Reco and Mission Barns.
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 Food in the Metaverse, Cell-Cultivated Psychedelics + More appeared first on Food+Tech Connect.