agtech Archives | Food+Tech Connect https://foodtechconnect.com News, trends & community for food and food tech startups. Mon, 23 Dec 2024 19:17:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 The FDA Redefines “Healthy”, Global Food System Funding Declines + More https://foodtechconnect.com/2024/12/23/the-fda-redefines-healthy-global-food-system-funding-declines-more/ https://foodtechconnect.com/2024/12/23/the-fda-redefines-healthy-global-food-system-funding-declines-more/#respond Mon, 23 Dec 2024 19:17:22 +0000 https://foodtechconnect.com/?p=35768 Image Credit: 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. In recent developments, the FDA has modernized its 30-year-old definition of “healthy” for packaged foods, requiring products to include specific amounts from food groups like fruits, vegetables, grains, dairy, and protein, while also setting limits on added sugars. This update aims to provide clearer guidance for consumers seeking nutritious options. Meanwhile, despite an increase in global climate finance from 2017 to 2022, funding for the food system has declined to just 2.5%. This reduction highlights a significant gap in supporting sustainable agriculture and addressing food system challenges amid growing environmental concerns. In other news, we’ve wrapped the first season of our podcast in partnership with AgFunder: New Food Order, a nuanced investigation into the business of tackling our climate and social crises through food and agriculture. Read all about why we launched the podcast, and be sure to subscribe and share! 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.    1. The FDA Has Updated The 30-Year Old Definition of ‘Healthy’ for Packaged Foods – Fast Company Under the rule, products that claim to be “healthy” must contain a certain amount of food from one or more food groups such as fruit, vegetables, grains, dairy and protein. And for the first time, the rule sets certain limits for added sugars.   2. Despite Rise in Global Climate Finance, the Food System’s Share Falls to Just 2.5% – Green Queen While public climate finance increased between 2017 and 2022, the amount flowing to food and agriculture declined during this time.   3. Why FDA’s ‘Healthy’ Update Likely Wont Make Us Healthier – Food Fix It’s been a long road to get here, but even the FDA doesn’t seem to think updating what foods can be labeled as “healthy” will make us much healthier.   4. How Workplace Injuries Spurred the Holiday Strike Against Amazon – Forbes Thousands of warehouse and delivery workers are participating in the largest strike against Amazon in US history.   5. The High Cost of Cheap Food. and the Historic Halting of a Grocery Merger. – The Checkout Federal courts blocked the Kroger-Albertsons merger to protect competition. Meanwhile, GoodSAM Foods highlights the human and environmental costs of cheap global agriculture, urging systemic change.   6. Cocaine Induced Opulence – Snaxshot Trump-era productivity trends, GenZ’s nostalgia for ’80s Wall Street, substance use culture, and provocative insights on modern CEO behaviors.   7. Rebel Foods Secures $210M Series G Funding From Temasek – QSR Rebel Foods operates over 450 cloud kitchens and has a presence in the UAE and the UK.

The post The FDA Redefines “Healthy”, Global Food System Funding Declines + More appeared first on Food+Tech Connect.

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Image Credit: 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.

In recent developments, the FDA has modernized its 30-year-old definition of “healthy” for packaged foods, requiring products to include specific amounts from food groups like fruits, vegetables, grains, dairy, and protein, while also setting limits on added sugars. This update aims to provide clearer guidance for consumers seeking nutritious options. Meanwhile, despite an increase in global climate finance from 2017 to 2022, funding for the food system has declined to just 2.5%. This reduction highlights a significant gap in supporting sustainable agriculture and addressing food system challenges amid growing environmental concerns.

In other news, we’ve wrapped the first season of our podcast in partnership with AgFunder: New Food Order, a nuanced investigation into the business of tackling our climate and social crises through food and agriculture. Read all about why we launched the podcast, and be sure to subscribe and share!

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. 

 

1. The FDA Has Updated The 30-Year Old Definition of ‘Healthy’ for Packaged Foods – Fast Company

Under the rule, products that claim to be “healthy” must contain a certain amount of food from one or more food groups such as fruit, vegetables, grains, dairy and protein. And for the first time, the rule sets certain limits for added sugars.

 

2. Despite Rise in Global Climate Finance, the Food System’s Share Falls to Just 2.5% – Green Queen

While public climate finance increased between 2017 and 2022, the amount flowing to food and agriculture declined during this time.

 

3. Why FDA’s ‘Healthy’ Update Likely Wont Make Us Healthier – Food Fix

It’s been a long road to get here, but even the FDA doesn’t seem to think updating what foods can be labeled as “healthy” will make us much healthier.

 

4. How Workplace Injuries Spurred the Holiday Strike Against Amazon – Forbes

Thousands of warehouse and delivery workers are participating in the largest strike against Amazon in US history.

 

5. The High Cost of Cheap Food. and the Historic Halting of a Grocery Merger. – The Checkout

Federal courts blocked the Kroger-Albertsons merger to protect competition. Meanwhile, GoodSAM Foods highlights the human and environmental costs of cheap global agriculture, urging systemic change.

 

6. Cocaine Induced Opulence – Snaxshot

Trump-era productivity trends, GenZ’s nostalgia for ’80s Wall Street, substance use culture, and provocative insights on modern CEO behaviors.

 

7. Rebel Foods Secures $210M Series G Funding From Temasek – QSR

Rebel Foods operates over 450 cloud kitchens and has a presence in the UAE and the UK.

The post The FDA Redefines “Healthy”, Global Food System Funding Declines + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2024/12/23/the-fda-redefines-healthy-global-food-system-funding-declines-more/feed/ 0 Food Inflation 101, The Coming Food Crisis + More https://foodtechconnect.com/2022/05/24/food-inflation-101-the-coming-food-crisis-more/ https://foodtechconnect.com/2022/05/24/food-inflation-101-the-coming-food-crisis-more/#respond Tue, 24 May 2022 20:02:36 +0000 https://foodtechconnect.com/?p=35062 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 fragility of the global food system came into sharp focus this last week when The Economist released an article detailing the long-term human cost of Putin’s war in Ukraine. Our food system is already been weakened by climate change, Covid-19, and an energy shock. If war drags on, hundreds of millions could fall into poverty and famine would ensue. Meanwhile, too few producers with too much power is starting to make our food system look like the global financial landscape just before it crashed in 2008. Everyone has a role to play in fixing this crisis, particularly agrifoodtech innovators out there who are facing a “once-in-a-lifetime” opportunity to ignite the changes that will lead to a stronger, more sustainable food system for everyone. 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.  _____________________________________   1. The World Is Tipping Towards Mass Hunger – The Economist “The widely accepted idea of a cost-of-living crisis does not begin to capture the gravity of what may lie ahead,” if Putin’s war on Ukraine further weakens an already battered food system. It is everyone’s job to fix this crisis.   2. The Food System Is Headed for a 2008-Style Collapse – The Guardian Too few producers with too much power make the food system resemble the global financial system before it crashed in 2008.   3. Food Inflation 101: What It Means for Agrifoodtech Innovators – AFN War, climate change, and Covid-19 have sent the price of key agricultural commodities skyrocketing. The situation could pose a “once-in-a-lifetime chance” for agrifood innovators.   4. “Look Inside Your Bag of Potato Chips” to Understand Food Inflation – Wall Street Journal WSJ explains how the war in Ukraine is impacting oil, gas and agricultural commodity prices and driving up input costs for CPG products. One chip company profiled says potatoes are now 20% more expensive while cooking oil costs are up 300%.   5. We Need More Research on ‘Forgotten’ Crops – Food Navigator As the food crisis accelerates, key players in the food chain need to look beyond rice, maize, wheat and soya to ancient grains such as millet, sorghum and buckwheat to build a more secure, nutritionally diverse food future.   6. Do Good Foods Launches “Carbon-Reduced” Chicken at Grocery Stores – Food Dive The company turns surplus food from grocery stores into healthy feed for cage-free chickens that eventually become food for consumers. Do Good Foods notes that each chicken product keeps four pounds of food waste out of the landfill.   7. Upcycling Startup Koa Nets $10m to Repurpose Cocoa Pulp – Food Ingredients First A byproduct of the chocolate industry, cocoa pulp has potential as a value-added food ingredient. Koa will use its funding to increase processing at its Ghana plant tenfold.   8. What 1 Year Without Aid Looks Like for Restaurants – Restaurant Dive The absence of Restaurant Revitalization Funds is impacting businesses and plunging them into financial danger. Restaurant Dive breaks the situation down by the numbers.   9. Timeless Seeds is Growing Specialty Grains With Regeneration in Mind – Civil Eats Conventional wheat is King in Montana, but a group of organic farmers are making a name for themselves growing nutrient-dense specialty crops that restore the soil and surrounding rural communities.   10. Agtech Investment Firm Anterra Closes $260m Fund II – AFN The fund will invest in entrepreneurs developing biotech and digital solutions across the agrifoodtech value chain, from ag fintech and crop science to animal health and consumer tech.   11. Motif FoodWorks Unveils First Commercial Plant-Based Meats – Green Queen Motif MoBeef, MoPork and MoChicken will be launching from now into 2023 with foodservice locations, retailers, and private-label distributors. Distribution kicks off with the MoBeef patties.   12. Imagindairy secures $15m in Seed Round Extension – Food Business News The Israeli startup developing animal-free milk protein expects to launch its first products in 2023. Funding will go towards further research and development.  

The post Food Inflation 101, The Coming Food Crisis + More appeared first on Food+Tech Connect.

]]>

Credit: Wesley Tingey

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 fragility of the global food system came into sharp focus this last week when The Economist released an article detailing the long-term human cost of Putin’s war in Ukraine. Our food system is already been weakened by climate change, Covid-19, and an energy shock. If war drags on, hundreds of millions could fall into poverty and famine would ensue.

Meanwhile, too few producers with too much power is starting to make our food system look like the global financial landscape just before it crashed in 2008. Everyone has a role to play in fixing this crisis, particularly agrifoodtech innovators out there who are facing a “once-in-a-lifetime” opportunity to ignite the changes that will lead to a stronger, more sustainable food system for everyone.

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. 

_____________________________________

 

1. The World Is Tipping Towards Mass Hunger – The Economist

“The widely accepted idea of a cost-of-living crisis does not begin to capture the gravity of what may lie ahead,” if Putin’s war on Ukraine further weakens an already battered food system. It is everyone’s job to fix this crisis.

 

2. The Food System Is Headed for a 2008-Style Collapse – The Guardian

Too few producers with too much power make the food system resemble the global financial system before it crashed in 2008.

 

3. Food Inflation 101: What It Means for Agrifoodtech Innovators – AFN

War, climate change, and Covid-19 have sent the price of key agricultural commodities skyrocketing. The situation could pose a “once-in-a-lifetime chance” for agrifood innovators.

 

4. “Look Inside Your Bag of Potato Chips” to Understand Food Inflation – Wall Street Journal

WSJ explains how the war in Ukraine is impacting oil, gas and agricultural commodity prices and driving up input costs for CPG products. One chip company profiled says potatoes are now 20% more expensive while cooking oil costs are up 300%.

 

5. We Need More Research on ‘Forgotten’ Crops – Food Navigator

As the food crisis accelerates, key players in the food chain need to look beyond rice, maize, wheat and soya to ancient grains such as millet, sorghum and buckwheat to build a more secure, nutritionally diverse food future.

 

6. Do Good Foods Launches “Carbon-Reduced” Chicken at Grocery Stores – Food Dive

The company turns surplus food from grocery stores into healthy feed for cage-free chickens that eventually become food for consumers. Do Good Foods notes that each chicken product keeps four pounds of food waste out of the landfill.

 

7. Upcycling Startup Koa Nets $10m to Repurpose Cocoa Pulp – Food Ingredients First

A byproduct of the chocolate industry, cocoa pulp has potential as a value-added food ingredient. Koa will use its funding to increase processing at its Ghana plant tenfold.

 

8. What 1 Year Without Aid Looks Like for Restaurants – Restaurant Dive

The absence of Restaurant Revitalization Funds is impacting businesses and plunging them into financial danger. Restaurant Dive breaks the situation down by the numbers.

 

9. Timeless Seeds is Growing Specialty Grains With Regeneration in Mind – Civil Eats

Conventional wheat is King in Montana, but a group of organic farmers are making a name for themselves growing nutrient-dense specialty crops that restore the soil and surrounding rural communities.

 

10. Agtech Investment Firm Anterra Closes $260m Fund II – AFN

The fund will invest in entrepreneurs developing biotech and digital solutions across the agrifoodtech value chain, from ag fintech and crop science to animal health and consumer tech.

 

11. Motif FoodWorks Unveils First Commercial Plant-Based Meats – Green Queen

Motif MoBeef, MoPork and MoChicken will be launching from now into 2023 with foodservice locations, retailers, and private-label distributors. Distribution kicks off with the MoBeef patties.

 

12. Imagindairy secures $15m in Seed Round Extension – Food Business News

The Israeli startup developing animal-free milk protein expects to launch its first products in 2023. Funding will go towards further research and development.

 

The post Food Inflation 101, The Coming Food Crisis + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2022/05/24/food-inflation-101-the-coming-food-crisis-more/feed/ 0 China’s 5-Year Ag Plan Includes Cultivated Meats and Future Foods, Plenty Raises $400M + More https://foodtechconnect.com/2022/01/31/chinas-5-year-ag-plan-includes-cultivated-meats-and-future-foods-plenty-raises-400m-more/ https://foodtechconnect.com/2022/01/31/chinas-5-year-ag-plan-includes-cultivated-meats-and-future-foods-plenty-raises-400m-more/#respond Mon, 31 Jan 2022 22:09:30 +0000 https://foodtechconnect.com/?p=34931 Image source: Green Queen 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. China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, it has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in, paving the way for much-needed funding increases for the sector. Vertical farming startup Plenty has raised a whopping $400 million dollars. Walmart, who invested in the latest round, will begin to carry its leafy greens in all California stores this year. A new study has found that plant-based alternatives have the potential to represent 6% of meat consumption by 2030. The sector would need $27 billion investments in infrastructure in order to supply the demand. 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. China’s 5-Year Agricultural Plan to Include Cultivated Meat and ‘Future Foods’ for the First Time – Green Queen China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, the plan has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in. 2. Walmart Makes an Investment in Vertical Farming Startup Plenty – CNBC The investment is part of a $400m round of funding. Walmart plans to carry its leafy greens in all California stores this year.   3. Plant-Based Ingredients Need $27B in Infrastructure Investments to Meet 2030 Demand – Food Dive The Good Food Institute found that if the segment keeps growing at current rates, these alternatives will represent 6% of meat consumption in eight years.   4. Unovis Asset Management Closes $166M Fund, Warns Alt Protein Investors Should Avoid Ego Driven Valuations – Forbes Alternative protein-focused VC, Unovis Asset Management, has closed an oversubscribed $166m fund II, but warns ego-driven valuations and the mentality of rushing to exits in the sector could damage founders’ well-intentioned impacts.   5. UK: Zapp Snaps Up $200M to Supersize Its Instant Grocery Play – TechCrunch China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, the plan has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in.   6. 3D-Printed Plant Steak Startup Raises Funds to Chase Carnivores – Bloomberg Israeli startup Redefine Meat has raised $135m in new funding for its roll out of 3D-printed plant-based steaks across Europe. New funds will help build out a factory in the Netherlands.   7. Belgium: Deliverect Raises $150M at a $1.4B+ Valuation to Streamline Online and Offline Food Orders – TechCrunch The company works with independent and large chains to streamline ordering and delivery. It plans to expand beyond Europe and into the US soon. It has recently begun to offer its services to CPG companies as well.   8. Purely Elizabeth Raises $50M for Expansion – Food Dive The company said it plans to expand its existing SKUs in nutrient-dense breakfast food categories, as well as launch into a yet-to-be-announced category.   9. Starship Technologies Picks Up €50M from the EU’s Investment Arm to Expand Its Fleet of Autonomous Delivery Robots – TechCrunch Campus deployments make up a majority of Starship’s business, but signs are pointing to a shift towards grocery.   10. Kula Bio Closes $50M Series A to Further Develop Its Low Emission Biofertilizer – AFN The startup says its alternative to traditional nitrogen fertilizer is crop-agnostic, non-GMO and cost-effective for farmers.   11. As Regulations Gets Closer, Upside Foods Acquires Cultivated Seafood Company Cultured Decadence – Green Queen Cultured Decadence has developed cell lines and feed for the creation of high-end crustaceans. It will now adopt Upside’s brand name and bring seafood products to its portfolio.   12. Aavishkaar Capital to Launch $250M ESG Fund to Invest in Asia, Africa – Deal Street Asia The firm has already made the first close at $55m and plans to raise the targeted capital over the next 2 years.   13. Investigators Probe Alleged Fraud Involving Over $240M in Federal Child Nutrition Dollars – The Counter A Minnesota non-profit was paid to feed thousands of hungry children every day during the pandemic. Federal investigators allege that the meals never materialized.   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 China’s 5-Year Ag Plan Includes Cultivated Meats and Future Foods, Plenty Raises $400M + More appeared first on Food+Tech Connect.

]]>

Image source: Green Queen

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.

China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, it has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in, paving the way for much-needed funding increases for the sector.

Vertical farming startup Plenty has raised a whopping $400 million dollars. Walmart, who invested in the latest round, will begin to carry its leafy greens in all California stores this year.

A new study has found that plant-based alternatives have the potential to represent 6% of meat consumption by 2030. The sector would need $27 billion investments in infrastructure in order to supply the demand.

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. China’s 5-Year Agricultural Plan to Include Cultivated Meat and ‘Future Foods’ for the First Time – Green Queen

China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, the plan has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in.

2. Walmart Makes an Investment in Vertical Farming Startup Plenty – CNBC

The investment is part of a $400m round of funding. Walmart plans to carry its leafy greens in all California stores this year.

 

3. Plant-Based Ingredients Need $27B in Infrastructure Investments to Meet 2030 Demand – Food Dive

The Good Food Institute found that if the segment keeps growing at current rates, these alternatives will represent 6% of meat consumption in eight years.

 

4. Unovis Asset Management Closes $166M Fund, Warns Alt Protein Investors Should Avoid Ego Driven Valuations – Forbes

Alternative protein-focused VC, Unovis Asset Management, has closed an oversubscribed $166m fund II, but warns ego-driven valuations and the mentality of rushing to exits in the sector could damage founders’ well-intentioned impacts.

 

5. UK: Zapp Snaps Up $200M to Supersize Its Instant Grocery Play – TechCrunch

China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, the plan has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in.

 

6. 3D-Printed Plant Steak Startup Raises Funds to Chase Carnivores – Bloomberg

Israeli startup Redefine Meat has raised $135m in new funding for its roll out of 3D-printed plant-based steaks across Europe. New funds will help build out a factory in the Netherlands.

 

7. Belgium: Deliverect Raises $150M at a $1.4B+ Valuation to Streamline Online and Offline Food Orders – TechCrunch

The company works with independent and large chains to streamline ordering and delivery. It plans to expand beyond Europe and into the US soon. It has recently begun to offer its services to CPG companies as well.

 

8. Purely Elizabeth Raises $50M for Expansion – Food Dive

The company said it plans to expand its existing SKUs in nutrient-dense breakfast food categories, as well as launch into a yet-to-be-announced category.

 

9. Starship Technologies Picks Up €50M from the EU’s Investment Arm to Expand Its Fleet of Autonomous Delivery Robots – TechCrunch

Campus deployments make up a majority of Starship’s business, but signs are pointing to a shift towards grocery.

 

10. Kula Bio Closes $50M Series A to Further Develop Its Low Emission Biofertilizer – AFN

The startup says its alternative to traditional nitrogen fertilizer is crop-agnostic, non-GMO and cost-effective for farmers.

 

11. As Regulations Gets Closer, Upside Foods Acquires Cultivated Seafood Company Cultured Decadence – Green Queen

Cultured Decadence has developed cell lines and feed for the creation of high-end crustaceans. It will now adopt Upside’s brand name and bring seafood products to its portfolio.

 

12. Aavishkaar Capital to Launch $250M ESG Fund to Invest in Asia, Africa – Deal Street Asia

The firm has already made the first close at $55m and plans to raise the targeted capital over the next 2 years.

 

13. Investigators Probe Alleged Fraud Involving Over $240M in Federal Child Nutrition Dollars – The Counter

A Minnesota non-profit was paid to feed thousands of hungry children every day during the pandemic. Federal investigators allege that the meals never materialized.

 

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 China’s 5-Year Ag Plan Includes Cultivated Meats and Future Foods, Plenty Raises $400M + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2022/01/31/chinas-5-year-ag-plan-includes-cultivated-meats-and-future-foods-plenty-raises-400m-more/feed/ 0 PepsiCo Scales Regenerative Ag on 7M Acres, Misfits Brings Valuation to $1.1B, JBS Acquires European Plant-Based Meat Co + More https://foodtechconnect.com/2021/04/22/pepsico-scales-regenerative-ag-on-7m-acres-misfits-brings-valuation-to-1-1b-jbs-acquires-european-plant-based-meat-co-more/ https://foodtechconnect.com/2021/04/22/pepsico-scales-regenerative-ag-on-7m-acres-misfits-brings-valuation-to-1-1b-jbs-acquires-european-plant-based-meat-co-more/#respond Thu, 22 Apr 2021 20:14:39 +0000 https://foodtechconnect.com/?p=34010 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. 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. 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%.   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 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: 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.

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. 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%.

 

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 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.

]]> https://foodtechconnect.com/2021/04/22/pepsico-scales-regenerative-ag-on-7m-acres-misfits-brings-valuation-to-1-1b-jbs-acquires-european-plant-based-meat-co-more/feed/ 0 2021 CPG and Grocery Trends, Oatly to IPO This Year + More https://foodtechconnect.com/2021/01/07/2021-cpg-and-grocery-trends-oatly-to-ipo-this-year-more/ https://foodtechconnect.com/2021/01/07/2021-cpg-and-grocery-trends-oatly-to-ipo-this-year-more/#respond Thu, 07 Jan 2021 21:39:46 +0000 https://foodtechconnect.com/?p=33735 Source: Oatly 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. Kroger and Food Dive have unveiled their top food predictions for 2021, ranging from immunity-boosting ingredients to a growth in mushroom-centric products. In the grocery industry, experts say 2021 will be the year retailers move from reacting to strategically managing for long-term growth. Mondelez has agreed to buy the rest of Hu in a transaction that values the company at $340 million. Meanwhile, Oatly is expected to IPO and raise $1 billion this year. Last but not least, the Trump administration has signaled backing of the transfer of authority for the regulation of gene-edited meat from the FDA to the USDA. We need your support. Producing our newsletter takes a lot of time and resources, and we need to change our business model to keep it going. To date, we’ve funded our work through our events, sponsorships and consulting, which are all on hold due to the pandemic. If you find our newsletter to be a valuable resource, we hope you will consider making a one time or monthly contribution, so we can keep the newsletter going and free for those who can not afford a subscription fee. Whether it’s $5 or $500 every bit helps and shows us that you value our work. Not able to contribute right now? You can help by sharing our newsletter with friends and colleagues.    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. From ‘Mushroom Mania’ to ‘Ketotarian’ Foods: Kroger Unveils Top 7 Predictions for 2021 – Food Navigator Kroger has released seven food trends it believes it will gain traction in 2021, which it predicts will be a breakout year for mushrooms.   2. 5 Trends Fueling Food and Beverage Innovation in 2021 – Food Dive Consumers will pick up their pursuit of immunity boosts, new plant-based options, global flavors and tech-enhanced foods after a tough year.   3. 8 Trends That Will Shape the Grocery Industry in 2021 – Grocery Dive After one of the most tumultuous years in recent memories, experts say 2021 will be the year grocers move from reacting to strategically managing for long-term growth.   4. Mondelez Agrees to Buy Rest of Paleo Chocolate-Bar Maker Hu – Wall Street Journal The maker of Oreo cookies and Ritz crackers, which took a minority stake in Hu in 2019, is buying the rest in a transaction that values Hu at $340m.   5. Oatly Is Planning to IPO This Year – CNBC The IPO could raise $1b, depending on the status of the economy in the face of the pandemic.   6. Introducing The Reimagining Food Retail Conversation Series We’re partnering with S2G Ventures to host a series of conversations exploring how we might reimagine retail. Our goal is to create a space for stakeholders from farm to fork to come together to discuss how we might fundamentally reimagine food retail to make it more resilient, equitable, accessible, diverse, delicious, healthful and climate smart future.   7. Best of 2020 Awards – Nosh While some of the brands are notable for the products they brought to store shelves or growth in sales, others were impressive to the selection committee for their heart, mission and commitment to building a better food system and future.   8. Trump Administration Wants to Ease Approval of Gene-Edited Meat – Bloomberg Trump signaled its backing for transferring authority over gene-edited meat from the FDA to the USDA, which is considered to be more sensitive to the interests of the livestock industry.   9. 5 Trends That Shaped Agrifoodtech in 2020 – AgFunder 2020: A year like no other. But while Covid-19 has been catastrophic for the agrifood sector in many regards, it has also put agrifoodtech in the limelight.   10. 2021 Investor Insights – World Agritech  Five high profile investors share priorities and predictions for agtech in 2021.   11. From Toxic Chefs to Covid, Restaurant Workers Deserve Better – New York Times A former Momofuku employee’s account of a rage-fueled workplace is an all-too-familiar story. But it raises questions about how we treat restaurant staffs in the Covid era.   12. Germany: Delivery Hero Raising Up to $1.6B in War Chest for Deals – Bloomberg The company will sell as many as 9.44m new shares in an accelerated offering to boost its cash position take advantage of investment opportunities.   13. A New Study on Regenerative Grazing Complicates Climate Optimism – Civil Eats A new, peer-reviewed paper on White Oak Pastures’ practices advances our understanding of the climate impact of beef and the potential for regenerative grazing to store carbon in the soil.   14. Does Regenerative Agriculture Have a Race Problem? – Civil Eats BIPOC farmers and advocates say the latest trend in agriculture is built on an age-old pattern of cultural theft and appropriation.   15. Chinese Ag & Food Delivery Giants Join $100M+ Raise for ‘Adaptive Robot’ Startup Flexiv – AgFunder New Hope Group, Meituan, Gaorong Capital and others participated in the round. Funding will go towards scaling up production, carrying out R&D and marketing.   16. Israel’s Trigo Raises $60M for Smart Checkout Technology – Reuters 83North led the round. New funds will be used to scale the company’s ability to meet growing demand, boost R&D and expand its global presence.   17. 7 Food and Lifestyle Trends That Will Define 2021 – Forbes These are the top 7 macro trends anyone working in the food, fashion, retail, travel or other lifestyle industries should be paying attention to in 2021.   18. 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 […]

The post 2021 CPG and Grocery Trends, Oatly to IPO This Year + More appeared first on Food+Tech Connect.

]]>

Source: Oatly

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.

Kroger and Food Dive have unveiled their top food predictions for 2021, ranging from immunity-boosting ingredients to a growth in mushroom-centric products. In the grocery industry, experts say 2021 will be the year retailers move from reacting to strategically managing for long-term growth.

Mondelez has agreed to buy the rest of Hu in a transaction that values the company at $340 million. Meanwhile, Oatly is expected to IPO and raise $1 billion this year.

Last but not least, the Trump administration has signaled backing of the transfer of authority for the regulation of gene-edited meat from the FDA to the USDA.

We need your support. Producing our newsletter takes a lot of time and resources, and we need to change our business model to keep it going. To date, we’ve funded our work through our events, sponsorships and consulting, which are all on hold due to the pandemic. If you find our newsletter to be a valuable resource, we hope you will consider making a one time or monthly contribution, so we can keep the newsletter going and free for those who can not afford a subscription fee. Whether it’s $5 or $500 every bit helps and shows us that you value our work. Not able to contribute right now? You can help by sharing our newsletter with friends and colleagues. 

 

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. From ‘Mushroom Mania’ to ‘Ketotarian’ Foods: Kroger Unveils Top 7 Predictions for 2021 – Food Navigator

Kroger has released seven food trends it believes it will gain traction in 2021, which it predicts will be a breakout year for mushrooms.

 

2. 5 Trends Fueling Food and Beverage Innovation in 2021 – Food Dive

Consumers will pick up their pursuit of immunity boosts, new plant-based options, global flavors and tech-enhanced foods after a tough year.

 

3. 8 Trends That Will Shape the Grocery Industry in 2021 – Grocery Dive

After one of the most tumultuous years in recent memories, experts say 2021 will be the year grocers move from reacting to strategically managing for long-term growth.

 

4. Mondelez Agrees to Buy Rest of Paleo Chocolate-Bar Maker Hu – Wall Street Journal

The maker of Oreo cookies and Ritz crackers, which took a minority stake in Hu in 2019, is buying the rest in a transaction that values Hu at $340m.

 

5. Oatly Is Planning to IPO This Year – CNBC

The IPO could raise $1b, depending on the status of the economy in the face of the pandemic.

 

6. Introducing The Reimagining Food Retail Conversation Series

We’re partnering with S2G Ventures to host a series of conversations exploring how we might reimagine retail. Our goal is to create a space for stakeholders from farm to fork to come together to discuss how we might fundamentally reimagine food retail to make it more resilient, equitable, accessible, diverse, delicious, healthful and climate smart future.

 

7. Best of 2020 Awards – Nosh

While some of the brands are notable for the products they brought to store shelves or growth in sales, others were impressive to the selection committee for their heart, mission and commitment to building a better food system and future.

 

8. Trump Administration Wants to Ease Approval of Gene-Edited Meat – Bloomberg

Trump signaled its backing for transferring authority over gene-edited meat from the FDA to the USDA, which is considered to be more sensitive to the interests of the livestock industry.

 

9. 5 Trends That Shaped Agrifoodtech in 2020 – AgFunder

2020: A year like no other. But while Covid-19 has been catastrophic for the agrifood sector in many regards, it has also put agrifoodtech in the limelight.

 

10. 2021 Investor Insights – World Agritech 

Five high profile investors share priorities and predictions for agtech in 2021.

 

11. From Toxic Chefs to Covid, Restaurant Workers Deserve Better – New York Times

A former Momofuku employee’s account of a rage-fueled workplace is an all-too-familiar story. But it raises questions about how we treat restaurant staffs in the Covid era.

 

12. Germany: Delivery Hero Raising Up to $1.6B in War Chest for Deals – Bloomberg

The company will sell as many as 9.44m new shares in an accelerated offering to boost its cash position take advantage of investment opportunities.

 

13. A New Study on Regenerative Grazing Complicates Climate Optimism – Civil Eats

A new, peer-reviewed paper on White Oak Pastures’ practices advances our understanding of the climate impact of beef and the potential for regenerative grazing to store carbon in the soil.

 

14. Does Regenerative Agriculture Have a Race Problem? – Civil Eats

BIPOC farmers and advocates say the latest trend in agriculture is built on an age-old pattern of cultural theft and appropriation.

 

15. Chinese Ag & Food Delivery Giants Join $100M+ Raise for ‘Adaptive Robot’ Startup Flexiv – AgFunder

New Hope Group, Meituan, Gaorong Capital and others participated in the round. Funding will go towards scaling up production, carrying out R&D and marketing.

 

16. Israel’s Trigo Raises $60M for Smart Checkout Technology – Reuters

83North led the round. New funds will be used to scale the company’s ability to meet growing demand, boost R&D and expand its global presence.

 

17. 7 Food and Lifestyle Trends That Will Define 2021 – Forbes

These are the top 7 macro trends anyone working in the food, fashion, retail, travel or other lifestyle industries should be paying attention to in 2021.

 

18. 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 2021 CPG and Grocery Trends, Oatly to IPO This Year + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2021/01/07/2021-cpg-and-grocery-trends-oatly-to-ipo-this-year-more/feed/ 0 Racist CPG Rebrands, Former Bumble Bee CEO Sent to Prison for Price-Fixing + More https://foodtechconnect.com/2020/06/18/racist-cpg-rebrands-former-bumble-bee-ceo-sent-to-prison-for-price-fixing-more/ https://foodtechconnect.com/2020/06/18/racist-cpg-rebrands-former-bumble-bee-ceo-sent-to-prison-for-price-fixing-more/#respond Thu, 18 Jun 2020 20:33:17 +0000 https://foodtechconnect.com/?p=33349 Source: Vox 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 slew of Big food brands have been called out once again to rebrand their racist stereotypes: PepsiCo’s Aunt Jemima, Mars’ Uncle Ben’s, Conagra’s Mrs. Butterworth’s and Cream of Wheat’s Rastus. Reparations have only just begun for food companies large and small in support of the Black Lives Matter movement. The former CEO and President of Bumble Bee Foods, Christopher Lischewski,  has been sentenced to 40 months in jail and charged a $100k criminal fine for his leadership role in a three-year antitrust conspiracy to fix the prices of canned tuna. A recent survey by the Nation’s Restaurant Association has found that the industry has a whole has lost $120 billion since the coronavirus outbreak. About 55% of operators with temporarily closed restaurants said there are not enough customers to justify reopening. Last but not least, the UN, WHO and WWF International are calling for legislation and trade deals worldwide to encourage a green and healthy recovery from the Covid-19 pandemic, in particular by reforming destructive farming and unsustainable diets.   We need your support as well. Producing our newsletter takes a lot of time and resources, and we need to change our business model to keep it going. To date, we’ve funded our work through our events, sponsorships and consulting, which are all on hold due to the pandemic. If you find our newsletter to be a valuable resource, we hope you will consider making a one time or monthly contribution, so we can keep the newsletter going and free for those who can not afford a subscription fee. Whether it’s $5 or $500 every bit helps and shows us that you value our work. Not able to contribute right now? You can help by sharing our newsletter with friends and colleagues.    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. Aunt Jemima and the Long-Overdue Rebrand of Racist Stereotypes – Vox The 130-year-old brand features a Black woman named Aunt Jemima, who is rooted in Jim Crow-era perceptions of black women, specifically the Southern “mammy” stereotype of a loyal and submissive servant.   2. Cream of Wheat Becomes Fourth Brand in 24 Hours to Revisit Packaging Over Racist Origins – Forbes Cream of Wheat has been criticized for the chef character Rastus, whose name is widely considered derogatory to black men. The move follows rebrands of PepsiCo’s Aunt Jemima, Mars’ Uncle Ben’s and Conagra’s Mrs. Butterworth’s.   3. In a Rare Outcome, Former Bumble Bee CEO Will Be Sent to Prison for Price-Fixing – The Counter Christopher Lischewski has been sentenced to 40 months in jail and charged a $100k criminal fine for his leadership role in a three-year antitrust conspiracy to fix the prices of canned tuna.   4. National Restaurant Association: 75% of Restaurant Operators Don’t Expect to Turn a Profit in a Near Future – Nation’s Restaurant News About 55% of operators with temporarily closed restaurants said there are not enough customers to justify reopening. The industry has lost $120b since the onset of the coronavirus crisis.   5. Pandemics Result from Destruction of Nature – The Guardian The UN, WHO and WWF International are calling for a green and healthy recovery from the Covid-19 pandemic, in particular by reforming destructive farming and unsustainable diets.   6. Nestle to Acquire Majority Stake in Collagen Maker Vital Proteins – Food Dive Financial terms were not disclosed. The transaction will equip the Chicago-based collagen maker with the resources to scale its reach and innovation.   7. How the Colorado Potato Beetle Could Inspire a Covid-19 Vaccine – and $102M in Funding – AgFunder Funding will go towards countering the ongoing global pandemic with a vaccine. Morningside Ventures led the round.   8. In Absence of Federal Action, Farm Workers’ Coronavirus Cases Spike – Politico Florida, North Carolina and Washington preview further spread as harvest season advances.   9. OSHA Faulted for Not Doing More to Protect Workers from COVID-19 – Civil Eats A record number of food and farmworkers are falling sick and dying from coronavirus. Advocates blame the federal agency for failing to set mandatory worker safety standards.   10. Instacart Raises $225M at $13.7B Valuation – TechCrunch DST Global and General Catalyst led the round. Funding will be used to invest in shoppers and partners, build out its advertising and enterprise business and focus on customer experience.   11. New Regen Ag-Focused Fund Soilworks Makes Its Debut with PastureMap Acquisition – AgFunder Soilworks Natural Capital, a public benefit corporation, invests in, incubates and acquires companies to help accelerate environmentally critical regenerative practices. Financial terms of its acquisition were undisclosed.   12. A New $3M City Fund Aims to Pay Staffers at Small Restaurants $20 Per Hour – Eater The NYC program will distribute $3m to about 100 small restaurants located in 27 neighborhoods that have borne the brunt of the impact of the virus. Eligible restaurants can receive up to $30k to help with payroll.   13. Food Brands Tweet #BlackLivesMatter, but What’s Behind the Words? – New York Times In addition to declaring solidarity, the fast food industry could make changes to protect the health and safety of black employees.   14. Racism Shaped Restaurants. Chef Aretah Ettarh Knows What Needs to Change – Matador Network The Gramercy Tavern chef expands her thoughts about how performance can transform into action, the hard work white people have ahead of them, and why it’s time to rebuild the restaurant industry from the ground up.   15. Michael Twitty: Hunger Is a Form of Violence We Must Address – Huffington Post The legendary food writer talks about the cost of hunger, the importance of growing our own food and much more.   16. BLM Community Resources – Museum of Food & Drink In solidarity with the Black Lives […]

The post Racist CPG Rebrands, Former Bumble Bee CEO Sent to Prison for Price-Fixing + More appeared first on Food+Tech Connect.

]]>

Source: Vox

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 slew of Big food brands have been called out once again to rebrand their racist stereotypes: PepsiCo’s Aunt Jemima, Mars’ Uncle Ben’s, Conagra’s Mrs. Butterworth’s and Cream of Wheat’s Rastus. Reparations have only just begun for food companies large and small in support of the Black Lives Matter movement.

The former CEO and President of Bumble Bee Foods, Christopher Lischewski,  has been sentenced to 40 months in jail and charged a $100k criminal fine for his leadership role in a three-year antitrust conspiracy to fix the prices of canned tuna.

A recent survey by the Nation’s Restaurant Association has found that the industry has a whole has lost $120 billion since the coronavirus outbreak. About 55% of operators with temporarily closed restaurants said there are not enough customers to justify reopening.

Last but not least, the UN, WHO and WWF International are calling for legislation and trade deals worldwide to encourage a green and healthy recovery from the Covid-19 pandemic, in particular by reforming destructive farming and unsustainable diets.

 

We need your support as well. Producing our newsletter takes a lot of time and resources, and we need to change our business model to keep it going. To date, we’ve funded our work through our events, sponsorships and consulting, which are all on hold due to the pandemic. If you find our newsletter to be a valuable resource, we hope you will consider making a one time or monthly contribution, so we can keep the newsletter going and free for those who can not afford a subscription fee. Whether it’s $5 or $500 every bit helps and shows us that you value our work. Not able to contribute right now? You can help by sharing our newsletter with friends and colleagues. 

 

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. Aunt Jemima and the Long-Overdue Rebrand of Racist Stereotypes – Vox

The 130-year-old brand features a Black woman named Aunt Jemima, who is rooted in Jim Crow-era perceptions of black women, specifically the Southern “mammy” stereotype of a loyal and submissive servant.

 

2. Cream of Wheat Becomes Fourth Brand in 24 Hours to Revisit Packaging Over Racist Origins – Forbes

Cream of Wheat has been criticized for the chef character Rastus, whose name is widely considered derogatory to black men. The move follows rebrands of PepsiCo’s Aunt Jemima, Mars’ Uncle Ben’s and Conagra’s Mrs. Butterworth’s.

 

3. In a Rare Outcome, Former Bumble Bee CEO Will Be Sent to Prison for Price-Fixing – The Counter

Christopher Lischewski has been sentenced to 40 months in jail and charged a $100k criminal fine for his leadership role in a three-year antitrust conspiracy to fix the prices of canned tuna.

 

4. National Restaurant Association: 75% of Restaurant Operators Don’t Expect to Turn a Profit in a Near Future – Nation’s Restaurant News

About 55% of operators with temporarily closed restaurants said there are not enough customers to justify reopening. The industry has lost $120b since the onset of the coronavirus crisis.

 

5. Pandemics Result from Destruction of Nature – The Guardian

The UN, WHO and WWF International are calling for a green and healthy recovery from the Covid-19 pandemic, in particular by reforming destructive farming and unsustainable diets.

 

6. Nestle to Acquire Majority Stake in Collagen Maker Vital Proteins – Food Dive

Financial terms were not disclosed. The transaction will equip the Chicago-based collagen maker with the resources to scale its reach and innovation.

 

7. How the Colorado Potato Beetle Could Inspire a Covid-19 Vaccine – and $102M in Funding – AgFunder

Funding will go towards countering the ongoing global pandemic with a vaccine. Morningside Ventures led the round.

 

8. In Absence of Federal Action, Farm Workers’ Coronavirus Cases Spike – Politico

Florida, North Carolina and Washington preview further spread as harvest season advances.

 

9. OSHA Faulted for Not Doing More to Protect Workers from COVID-19 – Civil Eats

A record number of food and farmworkers are falling sick and dying from coronavirus. Advocates blame the federal agency for failing to set mandatory worker safety standards.

 

10. Instacart Raises $225M at $13.7B Valuation – TechCrunch

DST Global and General Catalyst led the round. Funding will be used to invest in shoppers and partners, build out its advertising and enterprise business and focus on customer experience.

 

11. New Regen Ag-Focused Fund Soilworks Makes Its Debut with PastureMap Acquisition – AgFunder

Soilworks Natural Capital, a public benefit corporation, invests in, incubates and acquires companies to help accelerate environmentally critical regenerative practices. Financial terms of its acquisition were undisclosed.

 

12. A New $3M City Fund Aims to Pay Staffers at Small Restaurants $20 Per Hour – Eater

The NYC program will distribute $3m to about 100 small restaurants located in 27 neighborhoods that have borne the brunt of the impact of the virus. Eligible restaurants can receive up to $30k to help with payroll.

 

13. Food Brands Tweet #BlackLivesMatter, but What’s Behind the Words? – New York Times

In addition to declaring solidarity, the fast food industry could make changes to protect the health and safety of black employees.

 

14. Racism Shaped Restaurants. Chef Aretah Ettarh Knows What Needs to Change – Matador Network

The Gramercy Tavern chef expands her thoughts about how performance can transform into action, the hard work white people have ahead of them, and why it’s time to rebuild the restaurant industry from the ground up.

 

15. Michael Twitty: Hunger Is a Form of Violence We Must Address – Huffington Post

The legendary food writer talks about the cost of hunger, the importance of growing our own food and much more.

 

16. BLM Community Resources – Museum of Food & Drink

In solidarity with the Black Lives Matter movement, we have compiled a list of resources amplifying black chefs and food producers, black-owned businesses, and organizations helping the food insecure during protests and COVID-19.

 

17. Chinese Produce Platform Tongcheng Life Closes $200M Series C Round Led by Livestreaming Firm – AgFunder

Joyy and Engage Capital co-led the round. Funding will be used to enhance its supply chain and grow its presence in eastern and southern China.

 

18. China: ‘Instant Delicacies’ Brand Baijia Food Raises $28M in Series B Funding – AgFunder

GL Ventures led the round. Funding will be used for product research and development, expanding its production capacity, and marketing and brand promotion.

 

 

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 Racist CPG Rebrands, Former Bumble Bee CEO Sent to Prison for Price-Fixing + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/06/18/racist-cpg-rebrands-former-bumble-bee-ceo-sent-to-prison-for-price-fixing-more/feed/ 0 Just Eat Acquires Grubhub for $7.3B, Bon Appétit EIC and Head of Video Resign Over Racism Allegations + More https://foodtechconnect.com/2020/06/11/just-eat-acquires-grubhub-for-7-3b-bon-appetit-eic-head-of-video-resign-over-racism-allegations-more/ https://foodtechconnect.com/2020/06/11/just-eat-acquires-grubhub-for-7-3b-bon-appetit-eic-head-of-video-resign-over-racism-allegations-more/#respond Thu, 11 Jun 2020 18:09:14 +0000 https://foodtechconnect.com/?p=33338   Source: NBC 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. On Monday, a 2004 photo of Bon Appétit’s Editor in Chief Adam Rapoport and his wife, Simone Shubuck, posing in brown face surfaced on Twitter. Several members of its Bon Appétit’s staff took to social media to call for his resignation and for better compensation and treatment of people of color at the company. After months of negotiations with Uber Eats, Grubhub has turned down the deal to combine its operations with Just Eat Takeaway in a $7.3 billion merger – creating a trans-Atlantic delivery giant at a time the industry is seeking scale. Concerns of food shortages continue to loom as Covid-19 takes the lives of workers across 60 US plants. Those who have gone on strike demanding safety measures have died from the virus. As of June 8, at least 28.4k+ meatpacking, food processing and farm workers have tested positive for Covid-19 and at least 101 workers have died. The COVID-19 pandemic has put more than 10 million independent restaurant workers at risk of losing their jobs for good. Across sectors, businesses are being forced to pivot their business models as consumers go on lockdown and change their buying habits. This round-up features many of the ways the pandemic is impacting all parts of the food industry. In an effort to do our part and support the community we love so dearly, we have compiled a list of resources and organizations that are providing support to those in need. We are also offering free job postings to anyone who is looking to employ people impacted by the COVID-19 pandemic.   Resources: We have compiled a database of resources for those in the food industry impacted by the pandemic here. Please add your own resources as well. Jobs: We need to band together to support everyone across the food system who has lost their job due to the pandemic. Use code “coronavirusfoodjobs” to post remote or remote-friendly food jobs on our job board for free.   We need your support as well. Producing our newsletter takes a lot of time and resources, and we need to change our business model to keep it going. To date, we’ve funded our work through our events, sponsorships and consulting, which are all on hold due to the pandemic. If you find our newsletter to be a valuable resource, we hope you will consider making a one time or monthly contribution, so we can keep the newsletter going and free for those who can not afford a subscription fee. Whether it’s $5 or $500 every bit helps and shows us that you value our work. Not able to contribute right now? You can help by sharing our newsletter with friends and colleagues.    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. Condé Nast’s Bon Appetit Allegedly Pays Only White Editors for Videos, Image of EIC Adam Rapoport in Brown Face Surfaces – Variety Adam Rapoport, editor-in-chief of Bon Appetit, came under fire Monday with calls for him to resign or be fired after allegations that the Condé Nast food title pays white editors — but not people of color — for video appearances. In addition, a photo of Rapoport in brown face was posted on social media.   2. Bon Appétit Editor Adam Rapoport Resigns – New York Times The move comes hours after a photo of him resurfaced on social media, drawing condemnations from the staff for a stereotypical depiction of Puerto Ricans.   3. Bon Appétit’s Editor in Chief Just Resigned – but Staffers of Color Say There’s a ‘Toxic’ Culture of Microagressions and Exclusion That Runs Far Deeper Than One Man – Business Insider We spoke with 14 former and current Bon Appétit staffers and contributors about their experiences at both the magazine and its beloved Test Kitchen.   4. Just Eat Takeaway Confirms It’s Gobbling Up Grubhub in a $7.3B Deal – TechCrunch The Dutch food delivery company beat out Uber to buy Grubhub, whose chief executive will oversee operations in North America. The combined operation will have over 70m combined active customers globally.   5. More Food Shortages Loom with Outbreaks at 60 US Plants – Bloomberg Yakima, Washington, a hub of agricultural activity, has the highest per capita rate on the West Coast. More than 1k workers got sick, and those who went on strike for safety demands died from the virus.   6. Coronavirus Outbreaks Climb at US Meatpacking Plants Despite Protections, Trump Order – USA Today The number of coronavirus cases tied to meatpacking plants has topped 20.4k infections across 216 plants in 33 states. At least 74 people have died.   7. Mapping Covid-19 Outbreaks in the Food System – The Fern As of June 8, at least 28.4k+ meatpacking, food processing and farm workers have tested positive for Covid-19 and at least 101 workers have died.   8. BLM Community Resources – Museum of Food & Drink In solidarity with the Black Lives Matter movement, we have compiled a list of resources amplifying black chefs and food producers, black-owned businesses, and organizations helping the food insecure during protests and COVID-19.   9. In Apparent Rejection of Federal Court, EPA Allows Continued Dicamba Use – The Counter A federal court ruling banned the controversial herbicide last week, but Trump’s EPA is pushing back. The administration announced that farmers will be able to continue to spray dicamba through July 31.   10. Louisville Barbecue Owner Killed in Police Shooting Fed a Food Desert – New York Times David McAtee is remembered as a man who reached out to his black community through his cooking. He was shot amid a volley of bullets fired by two police officers and two National Guard members enforcing the city’s curfew.   11. Food Banks and Other Key Programs Have Received a Fraction of […]

The post Just Eat Acquires Grubhub for $7.3B, Bon Appétit EIC and Head of Video Resign Over Racism Allegations + More appeared first on Food+Tech Connect.

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Source: NBC 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.

On Monday, a 2004 photo of Bon Appétit’s Editor in Chief Adam Rapoport and his wife, Simone Shubuck, posing in brown face surfaced on Twitter. Several members of its Bon Appétit’s staff took to social media to call for his resignation and for better compensation and treatment of people of color at the company.

After months of negotiations with Uber Eats, Grubhub has turned down the deal to combine its operations with Just Eat Takeaway in a $7.3 billion merger – creating a trans-Atlantic delivery giant at a time the industry is seeking scale.

Concerns of food shortages continue to loom as Covid-19 takes the lives of workers across 60 US plants. Those who have gone on strike demanding safety measures have died from the virus. As of June 8, at least 28.4k+ meatpacking, food processing and farm workers have tested positive for Covid-19 and at least 101 workers have died.

The COVID-19 pandemic has put more than 10 million independent restaurant workers at risk of losing their jobs for good. Across sectors, businesses are being forced to pivot their business models as consumers go on lockdown and change their buying habits. This round-up features many of the ways the pandemic is impacting all parts of the food industry.

In an effort to do our part and support the community we love so dearly, we have compiled a list of resources and organizations that are providing support to those in need. We are also offering free job postings to anyone who is looking to employ people impacted by the COVID-19 pandemic.

 

  • Resources: We have compiled a database of resources for those in the food industry impacted by the pandemic here. Please add your own resources as well.
  • Jobs: We need to band together to support everyone across the food system who has lost their job due to the pandemic. Use code “coronavirusfoodjobs” to post remote or remote-friendly food jobs on our job board for free.

 

We need your support as well. Producing our newsletter takes a lot of time and resources, and we need to change our business model to keep it going. To date, we’ve funded our work through our events, sponsorships and consulting, which are all on hold due to the pandemic. If you find our newsletter to be a valuable resource, we hope you will consider making a one time or monthly contribution, so we can keep the newsletter going and free for those who can not afford a subscription fee. Whether it’s $5 or $500 every bit helps and shows us that you value our work. Not able to contribute right now? You can help by sharing our newsletter with friends and colleagues. 

 

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. Condé Nast’s Bon Appetit Allegedly Pays Only White Editors for Videos, Image of EIC Adam Rapoport in Brown Face Surfaces – Variety

Adam Rapoport, editor-in-chief of Bon Appetit, came under fire Monday with calls for him to resign or be fired after allegations that the Condé Nast food title pays white editors — but not people of color — for video appearances. In addition, a photo of Rapoport in brown face was posted on social media.

 

2. Bon Appétit Editor Adam Rapoport Resigns – New York Times

The move comes hours after a photo of him resurfaced on social media, drawing condemnations from the staff for a stereotypical depiction of Puerto Ricans.

 

3. Bon Appétit’s Editor in Chief Just Resigned – but Staffers of Color Say There’s a ‘Toxic’ Culture of Microagressions and Exclusion That Runs Far Deeper Than One Man – Business Insider

We spoke with 14 former and current Bon Appétit staffers and contributors about their experiences at both the magazine and its beloved Test Kitchen.

 

4. Just Eat Takeaway Confirms It’s Gobbling Up Grubhub in a $7.3B Deal – TechCrunch

The Dutch food delivery company beat out Uber to buy Grubhub, whose chief executive will oversee operations in North America. The combined operation will have over 70m combined active customers globally.

 

5. More Food Shortages Loom with Outbreaks at 60 US Plants – Bloomberg

Yakima, Washington, a hub of agricultural activity, has the highest per capita rate on the West Coast. More than 1k workers got sick, and those who went on strike for safety demands died from the virus.

 

6. Coronavirus Outbreaks Climb at US Meatpacking Plants Despite Protections, Trump Order – USA Today

The number of coronavirus cases tied to meatpacking plants has topped 20.4k infections across 216 plants in 33 states. At least 74 people have died.

 

7. Mapping Covid-19 Outbreaks in the Food System – The Fern

As of June 8, at least 28.4k+ meatpacking, food processing and farm workers have tested positive for Covid-19 and at least 101 workers have died.

 

8. BLM Community Resources – Museum of Food & Drink

In solidarity with the Black Lives Matter movement, we have compiled a list of resources amplifying black chefs and food producers, black-owned businesses, and organizations helping the food insecure during protests and COVID-19.

 

9. In Apparent Rejection of Federal Court, EPA Allows Continued Dicamba Use – The Counter

A federal court ruling banned the controversial herbicide last week, but Trump’s EPA is pushing back. The administration announced that farmers will be able to continue to spray dicamba through July 31.

 

10. Louisville Barbecue Owner Killed in Police Shooting Fed a Food Desert – New York Times

David McAtee is remembered as a man who reached out to his black community through his cooking. He was shot amid a volley of bullets fired by two police officers and two National Guard members enforcing the city’s curfew.

 

11. Food Banks and Other Key Programs Have Received a Fraction of Allotted Coronavirus Money, Angering Some Lawmakers – The Washington Post

In some cases, agencies still have not released funds two months after passage of $2t Cares Act.

 

12. There’s Only So Much We Can Do’: Food Banks Plead for Help – Politico

In late April, more than 17% of mothers reported their children under the age of 12 were not getting enough to eat because the family couldn’t afford enough food – a more than 400% increase from when the government last measured hunger rates in 2018.

 

13. Black Chefs Have Overcome Countless Obstacles. This Might Be the Hardest Yet. – The Washington Post

Will black chefs, who rose the ranks to become inspirations to others, be able to survive the twin assault of a global pandemic and outrage over another police killing?

 

14. Eating at Black-Owned Restaurants Isn’t Going to Save Us – KQED

The harm doesn’t live in those dollars. It lives in the framing of temporary patronage as a viable solution to an enduring problem—or worse, as salvation. The harm is the capitalistic impulse that has distorted tragedy to resemble Black Restaurant Week.

 

15. Temasek Leads $46M Series B for Ascus Bio’s Microbe-Based Animal Feed Additives – AgFunder

The new capital will be used to help the company expand its customer sales and service teams, advance new products in the pipeline and refine its tech platform and IP foundation.

 

16. MycoTechnology Raises $39M in Series D to Expand Functional Ingredients Platform – Food Navigator

The funding was co-led by Greenleaf Foods, SPC, S2G Ventures and Evolution Partners with participation from Tyson Ventures, Kellogg’s eighteen94 Capital and others.

 

17. Starbucks to Close 400 Stores, Speed Expansion of Pickup Locations, Curbside and More – TechCrunch

The coffee chain will expedite the rollout of its new “Pickup” store concept, powered by mobile ordering, in response to the coronavirus pandemic. It will also expand access to curbside pickup, drive-thru and walk-up counters in less dense, suburban markets.

 

18. Instacart Claims More Than Half of Online Grocery Market – Grocery Dive

Instacart’s share of the online grocery market reached a high of 57% in April. The growth puts it ahead of Walmart, which saw its market share drop 25% in March.

 

19. Struggling Farmers Are Selling Midwest Hogs Ad Hoc and Online – Civil Eats

An under-the-radar market has sprung up to prevent euthanizing pigs and help support farmers. But communities on the receiving end have limited processing capacity and big concerns.

 

20. Meal Kit Industry Expected to Hit $20B by 2027 – Grocery Dive

The sector is seeing a revival from the COVID-19 pandemic and is also expected to get a boost from culinary-minded millennials.

 

21. Farmers Get Billions in Virus Aid, and Democrats Are Wary – New York Times

As the administration sends up to $16b in additional subsidies, critics are concerned that the funds could be used to ensure that the president maintains the backing of one of his key voting blocs.

 

 

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 Just Eat Acquires Grubhub for $7.3B, Bon Appétit EIC and Head of Video Resign Over Racism Allegations + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/06/11/just-eat-acquires-grubhub-for-7-3b-bon-appetit-eic-head-of-video-resign-over-racism-allegations-more/feed/ 0 Pandemic Proof: S2G Ventures on Why Resilient, Sustainable and Healthy Food Systems are More Important Than Ever https://foodtechconnect.com/2020/05/18/pandemic-proof-s2g-ventures-on-why-resilient-sustainable-and-healthy-food-systems-are-more-important-than-ever/ https://foodtechconnect.com/2020/05/18/pandemic-proof-s2g-ventures-on-why-resilient-sustainable-and-healthy-food-systems-are-more-important-than-ever/#respond Mon, 18 May 2020 21:29:47 +0000 https://foodtechconnect.com/?p=33288 S2G Ventures' The Future of Food in the Age of COVID report explores the pandemic's impact on food & agriculture and identifies innovation opportunities.

The post Pandemic Proof: S2G Ventures on Why Resilient, Sustainable and Healthy Food Systems are More Important Than Ever appeared first on Food+Tech Connect.

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Sanjeev Krishnan

This is a guest post by Sanjeev Krishnan, Chief Investment Officer and Managing Director at S2G Ventures

The COVID-19 pandemic has caused a global health and economic crisis like none we have seen in our lifetime. In the food supply chain this has impacted employees that ensure that food is planted, harvested and processed, grocery shelves are stocked and food is available to all people. It takes a global village to feed the world, and we have seen selfless sacrifice and silent grit to ensure the continuity of our food system. Because, if our food supply breaks down, this pandemic may move from a crisis to a catastrophe.

Over the past several months several cracks have shown up in the food supply chain. The pandemic is challenging the nature of our global supply chain, stressing logistics networks and reinforcing the importance of labor. There are concerns about food nationalism, continued access to labor and redefining the nature of food security from global to national systems. While now is the time for urgent action – from government and private sector – there is a need for longer-term investments required for building a more innovative and resilient future food system.

Our team at S2G Ventures spent several months researching and monitoring COVID-19 and its implications to better understand these questions, keeping a close eye on the news cycle, conducting extensive desktop research and speaking with various experts across many fields. We spoke to epidemiologists, healthcare professionals, farmers, entrepreneurs, philanthropists and other investors to gather insights and develop our perspective on the implications of COVID-19 on the world of food and agriculture. We have compiled our finding into a report that explores the implications of the COVID-19 pandemic to the food and agriculture industry and identifies the areas of innovation critical to building a healthier and more sustainable food system.

As an investor in companies across all stages of the food system, we believe our role in the recovery is to ensure we build a more stable, resilient, sustainable and healthy system. We will continue to invest in entrepreneurs and innovations that are the catalysts for meaningful progress. Below, we offer a summary of our report, which can also be downloaded in full here.

Pandemics 101: A History of Recovery & Innovation

Taking a look back in time, the world suffered a deadly pandemic in 1918. The Spanish flu, whose origin is believed to be a farm outside of Kansas City, spread quickly across the globe. Although the world was not as connected, World War I was still ongoing, and troops were being shuttled between the United States and Europe. Between 1918 and 1919, the Spanish flu is believed to have infected nearly a third of the global population and killed between three and 20 percent of those who were infected. In the end it killed between 40 and 50 million people. In the years following the Spanish flu, there was a bright period of innovation that included the adoption of the Bell telephone and modern medicine. It was an event that helped shape the future.

Between the Spanish flu and today’s pandemic, there have been seven major epidemics or pandemics. Each varies in mortality, duration and contagion, but ultimately all come to an end. The economic recovery period that follows a pandemic-induced recession is generally different from traditional economic recessions. Pandemic-induced recession recoveries have generally seen a V-shaped recovery, while traditional recessions have varied between V-, U-, W-, and L-shaped recoveries. The global financial crisis of 2008 saw a L-shaped recovery. Typically, economic recessions have a longer duration and deeper economic consequences.

 

The coronavirus pandemic is unique among prior events. While many events have temporarily shut down regions, none have had the same global shutdown that we are currently facing today. So, despite being able to draw comparison and insights to learn from pandemic economics, the situation is different due to a staggering rise in globalization, digitalization across many sectors and the rise of fiat currencies. Pandemic economic history teaches us that one of the hallmarks is that innovation plays a critical role in the future normal that emerges. As professor Katherine A. Foss notes, “disease can permanently alter society, and often for the best by creating better practices and habits. Crisis sparks action and response.”

While the direct effect of COVID-19 is on the population – with infection rates, social distancing and shelter-in-place restrictions and continued operations of only essential businesses – there are significant implications across many industries. The second order consequences of coronavirus are reshaping industries, catalyzing innovation and encouraging resilience in business planning. Although the lasting impact on many industries is unknown, we see exciting innovation accelerating across automation, telemedicine, virtual reality and transparency systems (i.e., blockchain or similar technologies).

Everyone Eats – Pandemic Proof Demand, but Supply?

While the food and agriculture sectors are generally more resilient in bad economic situations, there are several sub sectors that rely heavily on in-person labor and are currently strained due to the unique social distancing pressures placed on businesses. One significant pressure point is meat processors. Several large meat companies have been forced to shutter processing facilities due to COVID-19 outbreaks. Smithfield had to shut down one of its pork processing facilities that supplied roughly 5 percent of the U.S. pork supply, while JBS had to close a Pennsylvania facility that processed beef. The second-order consequence of these closures is the farmer, who may be forced now to cull their herds of cattle and hogs. The strain on this pressure point affects not only the farmer, but also the consumer. Wendy’s felt the effects of this during this past week, when nearly one-fifth of all 1,043 locations ran out of beef.

While it will take an extended period of time to fully understand the implications of consumer purchasing data coming out of the pandemic – more specifically if the duration of the consumer behavior shift will be a ‘fad’ or ‘trend’ – certain areas of the market are seeing a quick adoption of trends that were previously accelerating. As slaughter-house closures have increased, plant-based meats sales have jumped 200 percent. Plant-based meats remain a small portion of the market, but this is a significant and notable demand signal from consumers.

Coronavirus is notably changing how consumers shop, prepare and consume food. Between 2009 and 2018, out-of-home eating rose from 50.1 percent to 54.4 percent of the market. Now, with social distancing limited the ability to eat at restaurants, many are turning to preparing food at home or ordering delivery or takeout. And, despite food being a resilient sector, the bifurcation between grocery and food service has become clear.

In the grocery store, private label market-share gains are poised to accelerate, as consumers tighten spending and look for value-focused alternatives. However, we expect consumers to prioritize a balance of value and better-for-you brands instead of a complete tradeoff to value, consistent with the consumer megatrend towards better-for-you products.

Taking a step back, and observing the broader food value chain, we observed three primary delivery vulnerabilities in the food system:

1. Agricultural inputs to farms (e.g., seeds, animal feed, fertilizer, et al.)

2. Farm products to processors, packagers, spot markets and export markets

3. Food to retail distribution

This is important, because the global food system relies on a just-in-time economy, where inventory levels are intentionally kept low. Meaning, that regardless if there is enough supply in existence, it may not be able to reach its proper destination if the supply chain is disrupted.

China, which provides a good example because it is further along in the lifecycle of the pandemic, has been suffering from this problem the last several months. Upstream and downstream logistics are a major challenge; at the ports there are thousands of frozen meat containers piling up because the trucking has effectively collapsed. Meanwhile, ports are running out of power, stoking fears that much of the food currently stored there will go bad. There is also an American company that makes immunization equipment for chicken that said their containers had been docked at Chinese ports for four weeks. Although China is doing its best to ensure that the grain planting season is not missed, the logistics of this supply chain are making it increasingly difficult.

 

The Future of Food – COVID-19 and Calories

While we continue to watch the situation, and the strain it is placing on the food system, we view the common thread that could bridge the existing system to the future as technology. Consumer purchasing behavior coupled with innovation may drive changes in market share and pressure existing players in the market. Although we have not seen COVID-19 create a new trend, we have seen several trends that were in motion pre-coronavirus further accelerated by the pandemic, including alternative protein, indoor agriculture, digitalization of agriculture and grocery and food as medicine.

Although animal agriculture remains a large and growing market, the pandemic has exposed challenges with the industries long production cycles, centralized production and limited processing facilities. It has allowed for faster consumer adoption of alternative proteins, including plant-based protein, fungi, algae and other biomass concepts including cellular meat. Notably, some of these technologies are further along than other, for example plant-based protein has been a trend for several years, while cellular meat remains in a research and development phase. We continue to believe that whatever the next generation of protein is, it will be driven by production speed, price and taste.

A second trend we believe is accelerating is food as an immunity. The convergence of food, science and technology may unlock this sector and usher in a new era in microbiome, functional ingredients, precision and personalized nutrition and medical foods. Prior to COVID-19, this was largely driven by nutrition-related disease, but the pandemic has exposed at-risk populations, with approximately 90 percent of hospitalized patients having one or more underlying condition, with the most common underlying condition being obesity.

Beyond specific trend acceleration, several themes emerge throughout this research that we believe may be catalyzed and emerge in a post-COVID-19 world. Digitalization will likely be driven by dis-intermediation to allow for new relationships with the consumer and to reduce risk throughout the supply chain. Decentralized food systems allow for the automation of local (alternative protein and produce) and the reshaping of complex perishable supply chains to reduce shrink and waste. They are also more omnichannel congruent as e-commerce, specifically online grocery, adoption accelerates. De-commoditization in the food supply chain, coupled with technologies that place deflationary pressure on the industry, may help catalyze breeding for attributes beyond yield (taste, protein content, et al), a return to polyculture farming and a shift from a strict focus on yield to profit per acre. Lastly, food as an immunity has the potential to bridge healthcare and food production and consumption for treatment of specific nutrition-related chronic lifestyle diseases, as well as change the future of brands to focus on unique, functional ingredients. a

Our full report, The Future of Food in the Age of COVID,  is available online.

 

_____________________________

 

Sanjeev Krishnan, Chief Investment Officer and Managing Director at S2G Ventures

Sanjeev has nearly 20 years of experience in sourcing, executing, managing and exiting venture and private equity investments, including a focus in agriculture and food companies. As Managing Director, Sanjeev is active in developing investments and managing portfolio companies including, serving on many portfolio company boards. His portfolio work ranges from genetics, crop protection, soil health, digital/IOT, crop insurance, merchandising, indoor agriculture, novel flavor and ingredients, new protein development, unique processors and brands that will feed this changing consumer.

He is passionate about the role of innovation, entrepreneurship, markets and system investing as a theory of change. Sanjeev has worked in the intersection of sustainability, technology and health in many regions, including Europe, Africa, Asia and North America.  He has invested over $500 mm in venture and growth stage firms throughout his career.

Sanjeev began investing as a co-founder of the life sciences practice of the IFC, the $99 billion private investment arm of the World Bank. His previous investment roles include CLSA Capital Partners, Global Environment Fund, World Bank Group’s IFC and JPMorgan. Sanjeev is a graduate of the London School of Economics and Political Science.

 

About S2G Ventures: S2G Ventures (Seed to Growth) is a multi-stage venture fund investing in food and agriculture. The fund’s mission is to catalyze innovation to meet consumer demands for healthy and sustainable food. S2G has identified sectors across the food system that are ripe for change, and is building a multi-stage portfolio including seed, venture and growth stage investments. Core areas of interest for S2G are agriculture, ingredients, infrastructure and logistics, IT and hardware, food safety and technology, retail and restaurants, and consumer brands. For more information about S2G, visit www.s2gventures.com or connect with us on Twitter and LinkedIn.

 

The post Pandemic Proof: S2G Ventures on Why Resilient, Sustainable and Healthy Food Systems are More Important Than Ever appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/05/18/pandemic-proof-s2g-ventures-on-why-resilient-sustainable-and-healthy-food-systems-are-more-important-than-ever/feed/ 0 LiveKindly Launches $200M Plant-Based Platform, Coronavirus’ Impacts on the Food Industry + More https://foodtechconnect.com/2020/03/12/livekindly-launches-200m-plant-based-platform-coronavirus-impacts-on-the-food-industry-more/ https://foodtechconnect.com/2020/03/12/livekindly-launches-200m-plant-based-platform-coronavirus-impacts-on-the-food-industry-more/#respond Thu, 12 Mar 2020 20:16:22 +0000 https://foodtechconnect.com/?p=33134 Image Source: Vox 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 group of food industry titans have banded together and invested $200 million to form the LiveKindly Co, a platform company that seeks to move the world toward plant-based eating. Meanwhile, the global uncertainty caused by the novel coronavirus has led to an unprecedented upheaval to the food industry. Key trade shows have been postponed or cancelled, grocery supplies have been rationed, and companies are warning investors of the threat it poses to their earnings. Following news of Expo-West’s postponement, Indie CPG published a list of resources to help support brands. Meanwhile, businesses are bracing the impending economic downturn as they watch countries abroad shut down commercial activities and close borders.   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 Food Titans Invested $200M to Form Plant-Based Platform LiveKindly – Food Dive A group of food industry titans banded together to form a new platform company for plant-based meat — the LiveKindly Co. — that seeks to move the world toward plant-based eating through an opening $200 million investment, as well as brand acquisitions, investments in similarly aligned companies and an online advocacy platform.   2. Post-Expo West Support for Brands – Notion Indie CPG curated a list of resources to help support brands impacted by the cancelation of Expo West.   3. Italy Shuts Down All Stores Except Supermarkets And Pharmacies, Escalating Coronavirus Lockdown – Forbes All shops, bars and restaurants were forced to be shut down. Farms and factories can still produce food and products, but will be required to adopt safety measures.   4. Fulcrum Global Capital Closes $36M First Agrifoodtech Fund and Four Investments – AgFunder Fulcrum raised the fund from high net worth investors to support early-stage animal health, precision agriculture, food safety and supply chain logistics.   5. Coronavirus Sends Food Prices Soaring in China, as Producer Prices Slump – Wall Street Journal Falling prices for industrial wholesale goods combined with decade-high consumer food inflation present Chinese policy makers with a worsening dilemma as the virus freezes economic activity.   6. Airport Retailer OTG Will Use Amazon’s Cashierless Technology Starting Next Week – TechCrunch The airport hospitality group operates more than 350 restaurants and retail locations in North American airports. The first store, CIBO Express Gourmet Market, will open March 16 in Newark’s Liberty’s Termincal C.   7. US Foods Buying Smart Foodservice From Apollo Funds for $970M – Wall Street Journal US Foods expects to see $20m in annual run-rate cost synergies by 2024, primarily through purchasing efficiencies and the expansion of private brand products.   8. Albertsons Files for Public Offering – Grocery Dive The company has not determined the number of shares it plans to offer or the price range it seeks for the offering.   9. PepsiCo to Acquire Energy Drink Maker Rockstar Energy in a $3.85B Deal – CNBC Pepsi and its rival Coca-Cola have been pushing into energy drinks as soda consumption declines in the US.   10. Belgium: Biotalys Increases Series C to €45M to Mimic the Immunity of Certain Animals in Biological Crop Protection – AgFunder Novalis LifeSciences and existing investors participated. Funding will be used for the further development, registration and commercial-scale production of Biotalys’ biofungicide product and to continue to expand and build the company’s platform.   11. Spindrift Raises $29.8M in Funding Round – BevNet Financial terms were undisclosed. The round brings the company’s total financing to $70m.   12. Leading Non-Alcoholic Beer Maker Athletic Brewing Closes $17.5M Series B Round Backed By Darren Rovell And Blake Mycoskie – Forbes Timothy Barakett’s family office, TOMS founder Blake Mycoskie, and Tastemaker Capital Partners participated in the round. Athletic Brewing Company will use funding to purchase a San Diego brewery.   13. Coronavirus Is Closing Schools. Here’s What it Means for Millions of Kids Who Rely on School Meals. – Civil Eats Schools in three states so far have closed to try to prevent exposure to COVID-19. School lunch groups are asking USDA to ensure students get access to meals.     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 LiveKindly Launches $200M Plant-Based Platform, Coronavirus’ Impacts on the Food Industry + More appeared first on Food+Tech Connect.

]]>
Image Source: Vox

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 group of food industry titans have banded together and invested $200 million to form the LiveKindly Co, a platform company that seeks to move the world toward plant-based eating.

Meanwhile, the global uncertainty caused by the novel coronavirus has led to an unprecedented upheaval to the food industry. Key trade shows have been postponed or cancelled, grocery supplies have been rationed, and companies are warning investors of the threat it poses to their earnings. Following news of Expo-West’s postponement, Indie CPG published a list of resources to help support brands. Meanwhile, businesses are bracing the impending economic downturn as they watch countries abroad shut down commercial activities and close borders.

 

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 Food Titans Invested $200M to Form Plant-Based Platform LiveKindly – Food Dive

A group of food industry titans banded together to form a new platform company for plant-based meat — the LiveKindly Co. — that seeks to move the world toward plant-based eating through an opening $200 million investment, as well as brand acquisitions, investments in similarly aligned companies and an online advocacy platform.

 

2. Post-Expo West Support for Brands – Notion

Indie CPG curated a list of resources to help support brands impacted by the cancelation of Expo West.

 

3. Italy Shuts Down All Stores Except Supermarkets And Pharmacies, Escalating Coronavirus Lockdown – Forbes

All shops, bars and restaurants were forced to be shut down. Farms and factories can still produce food and products, but will be required to adopt safety measures.

 

4. Fulcrum Global Capital Closes $36M First Agrifoodtech Fund and Four Investments – AgFunder

Fulcrum raised the fund from high net worth investors to support early-stage animal health, precision agriculture, food safety and supply chain logistics.

 

5. Coronavirus Sends Food Prices Soaring in China, as Producer Prices Slump – Wall Street Journal

Falling prices for industrial wholesale goods combined with decade-high consumer food inflation present Chinese policy makers with a worsening dilemma as the virus freezes economic activity.

 

6. Airport Retailer OTG Will Use Amazon’s Cashierless Technology Starting Next Week – TechCrunch

The airport hospitality group operates more than 350 restaurants and retail locations in North American airports. The first store, CIBO Express Gourmet Market, will open March 16 in Newark’s Liberty’s Termincal C.

 

7. US Foods Buying Smart Foodservice From Apollo Funds for $970M – Wall Street Journal

US Foods expects to see $20m in annual run-rate cost synergies by 2024, primarily through purchasing efficiencies and the expansion of private brand products.

 

8. Albertsons Files for Public Offering – Grocery Dive

The company has not determined the number of shares it plans to offer or the price range it seeks for the offering.

 

9. PepsiCo to Acquire Energy Drink Maker Rockstar Energy in a $3.85B Deal – CNBC

Pepsi and its rival Coca-Cola have been pushing into energy drinks as soda consumption declines in the US.

 

10. Belgium: Biotalys Increases Series C to €45M to Mimic the Immunity of Certain Animals in Biological Crop Protection – AgFunder

Novalis LifeSciences and existing investors participated. Funding will be used for the further development, registration and commercial-scale production of Biotalys’ biofungicide product and to continue to expand and build the company’s platform.

 

11. Spindrift Raises $29.8M in Funding Round – BevNet

Financial terms were undisclosed. The round brings the company’s total financing to $70m.

 

12. Leading Non-Alcoholic Beer Maker Athletic Brewing Closes $17.5M Series B Round Backed By Darren Rovell And Blake Mycoskie – Forbes

Timothy Barakett’s family office, TOMS founder Blake Mycoskie, and Tastemaker Capital Partners participated in the round. Athletic Brewing Company will use funding to purchase a San Diego brewery.

 

13. Coronavirus Is Closing Schools. Here’s What it Means for Millions of Kids Who Rely on School Meals. – Civil Eats

Schools in three states so far have closed to try to prevent exposure to COVID-19. School lunch groups are asking USDA to ensure students get access to meals.

 

 

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 LiveKindly Launches $200M Plant-Based Platform, Coronavirus’ Impacts on the Food Industry + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/03/12/livekindly-launches-200m-plant-based-platform-coronavirus-impacts-on-the-food-industry-more/feed/ 0 Food and AgTech Startups Raised $20B in 2019, DoorDash, Uber Eats and Postmates Explore Merger + More https://foodtechconnect.com/2020/02/27/food-agtech-startups-raised-20b-in-2019-doordash-uber-eats-and-postmates-explore-merger-more/ https://foodtechconnect.com/2020/02/27/food-agtech-startups-raised-20b-in-2019-doordash-uber-eats-and-postmates-explore-merger-more/#respond Thu, 27 Feb 2020 19:53:33 +0000 https://foodtechconnect.com/?p=33110 Source: DoorDash 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. Following on from a record-breaking 2018, Foodtech and agtech startups raised $20 billion in VC funding across 1858 deals, according to a AgFunder’s annual investing report. DoorDash, Uber Eats and Postmates have discussed mergers between their businesses in an effort to remain afloat, though so far, no deals have been made. India’s Swiggy has raised $113 million to invest in new lines of business such as cloud kitchens and delivery beyond food items.   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. Food and AgTech Startups Raised $20B in 2019, Led By Meat Alternatives and Indoor Agriculture – Forbes AgFunder’s annual report saw a 250% increase over five years. Funding to startups operating upstream raised $100m more in 2019, a 1.3% increase to $7.6b.   2. Food Delivery Services DoorDash, Uber Eats and Postmates Might Merge – Eater The companies have discussed mergers between their businesses in an effort to remain afloat, though so far, no deals have been made. Postmates and DoorDash are also reportedly mulling public offerings.   3. Cargill to Challenge Beyond Meat, Impossible Foods With New Plant-Based Burger – New York Times Cargill will launch plant-based hamburger patties and ground “fake meat” products in April, challenging Beyond Meat and Impossible Foods for sales in grocery stores, cafeterias and restaurants.   4. Launch of Eat Beyond Global Investment Fund Opens Doors for Retail Investors in Plant-Based Segment – Food Navigator The fund plans to invest in 10-20 key equity-linked plant-based investments ranging from $1m to $10m Canadian in the next four years with a minimum ownership goal of 5%.   5. Grocery CPG Trends To Watch In 2020 – CB Insights Fifteen emerging trends in food, beverage and household essentials categories, ranging from plant-based meat to tech-enabled vending machines.   6. India’s Swiggy Raises $113M Led by Prosus – TechCrunch The new round values Swiggy at about $3.6b. The startup will use the fresh capital to invest in new lines of business such as cloud kitchens and delivery beyond food items.   7. Kraft Heinz Invests in $110M Series B for Cloud Retail Robotics Startup Fabric – AgFunder The new round will be used to fuel Fabric’s US expansion, which began six months ago.   8. BlueNalu Raises $20M, Gears Up for Small-Scale Launch of Cell-Based Seafood in Late 2021 – Food Navigator The Series A was led by Stray Dog Capital, CPT Capital, New Crop Capital and Clear Current Capital.   9. NewLeaf Symbiotics Raises $20M Series D to Expand Offerings to Broadacre Row Crops – AgFunder Koch Agronomic Holdings, Leaps by Bayer, Otter Capital, S2G Ventures and RockPort Capital were participants in the investment round. The new funding will be used to enhance its R&D efforts while commercializing its product for broadacre row crops.   10. Kind Founder Invests $18M in Yogurt Brand Ellenos – Food Dive Ellenos received an $18m investment from Equilibra Partners Management, the family office of Kind Snacks founder Daniel Lubetzky. Investment will allow the company to scale the support it has built in the Northwest to further expand across the country.   11. Dahmakan, a Malaysian ‘Full Stack’ Food Delivery Startup Raises $18M Series B – TechCrunch Investors include Rakuten Capital, White Star Capital, JAFCO Asia and GEC-KIP Fund, bringing total funding to $28m. The startup uses cloud kitchens to reduce delivery costs.   12. Kenya: Sokowatch Raises $14M to Digitize Africa’s Informal B2B Supply Chain – TechCrunch Quona Capital led the round. With its Series A, the startup plans to broaden its client services and target new African markets.   13. Investment in Agritech Declines As Appetites for Food Delivery Wanes – Financial Times Funding for food delivery services plunges amid pullback in venture capital industry.   14. Millions of Americans Have Moved Off Assistance. Does Trump Get Credit? – New York Times The president has reveled in the declines in Americans receiving aid from several government programs in recent years, citing his economic policies as a catalyst.   15. Brazil: Meat Company Faces Heat Over ‘Cattle Laundering’ in Amazon Supply Chain – The Guardian Brazil’s JBS says it can’t trace the origins of all stock, as concerns grows over deforestation linked to beef industry.   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 and AgTech Startups Raised $20B in 2019, DoorDash, Uber Eats and Postmates Explore Merger + More appeared first on Food+Tech Connect.

]]>

Source: DoorDash

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.

Following on from a record-breaking 2018, Foodtech and agtech startups raised $20 billion in VC funding across 1858 deals, according to a AgFunder’s annual investing report.

DoorDash, Uber Eats and Postmates have discussed mergers between their businesses in an effort to remain afloat, though so far, no deals have been made. India’s Swiggy has raised $113 million to invest in new lines of business such as cloud kitchens and delivery beyond food items.

 

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. Food and AgTech Startups Raised $20B in 2019, Led By Meat Alternatives and Indoor Agriculture – Forbes

AgFunder’s annual report saw a 250% increase over five years. Funding to startups operating upstream raised $100m more in 2019, a 1.3% increase to $7.6b.

 

2. Food Delivery Services DoorDash, Uber Eats and Postmates Might Merge – Eater

The companies have discussed mergers between their businesses in an effort to remain afloat, though so far, no deals have been made. Postmates and DoorDash are also reportedly mulling public offerings.

 

3. Cargill to Challenge Beyond Meat, Impossible Foods With New Plant-Based Burger – New York Times

Cargill will launch plant-based hamburger patties and ground “fake meat” products in April, challenging Beyond Meat and Impossible Foods for sales in grocery stores, cafeterias and restaurants.

 

4. Launch of Eat Beyond Global Investment Fund Opens Doors for Retail Investors in Plant-Based Segment – Food Navigator

The fund plans to invest in 10-20 key equity-linked plant-based investments ranging from $1m to $10m Canadian in the next four years with a minimum ownership goal of 5%.

 

5. Grocery CPG Trends To Watch In 2020 – CB Insights

Fifteen emerging trends in food, beverage and household essentials categories, ranging from plant-based meat to tech-enabled vending machines.

 

6. India’s Swiggy Raises $113M Led by Prosus – TechCrunch

The new round values Swiggy at about $3.6b. The startup will use the fresh capital to invest in new lines of business such as cloud kitchens and delivery beyond food items.

 

7. Kraft Heinz Invests in $110M Series B for Cloud Retail Robotics Startup Fabric – AgFunder

The new round will be used to fuel Fabric’s US expansion, which began six months ago.

 

8. BlueNalu Raises $20M, Gears Up for Small-Scale Launch of Cell-Based Seafood in Late 2021 – Food Navigator

The Series A was led by Stray Dog Capital, CPT Capital, New Crop Capital and Clear Current Capital.

 

9. NewLeaf Symbiotics Raises $20M Series D to Expand Offerings to Broadacre Row Crops – AgFunder

Koch Agronomic Holdings, Leaps by Bayer, Otter Capital, S2G Ventures and RockPort Capital were participants in the investment round. The new funding will be used to enhance its R&D efforts while commercializing its product for broadacre row crops.

 

10. Kind Founder Invests $18M in Yogurt Brand Ellenos – Food Dive

Ellenos received an $18m investment from Equilibra Partners Management, the family office of Kind Snacks founder Daniel Lubetzky. Investment will allow the company to scale the support it has built in the Northwest to further expand across the country.

 

11. Dahmakan, a Malaysian ‘Full Stack’ Food Delivery Startup Raises $18M Series B – TechCrunch

Investors include Rakuten Capital, White Star Capital, JAFCO Asia and GEC-KIP Fund, bringing total funding to $28m. The startup uses cloud kitchens to reduce delivery costs.

 

12. Kenya: Sokowatch Raises $14M to Digitize Africa’s Informal B2B Supply Chain – TechCrunch

Quona Capital led the round. With its Series A, the startup plans to broaden its client services and target new African markets.

 

13. Investment in Agritech Declines As Appetites for Food Delivery Wanes – Financial Times

Funding for food delivery services plunges amid pullback in venture capital industry.

 

14. Millions of Americans Have Moved Off Assistance. Does Trump Get Credit? – New York Times

The president has reveled in the declines in Americans receiving aid from several government programs in recent years, citing his economic policies as a catalyst.

 

15. Brazil: Meat Company Faces Heat Over ‘Cattle Laundering’ in Amazon Supply Chain – The Guardian

Brazil’s JBS says it can’t trace the origins of all stock, as concerns grows over deforestation linked to beef industry.

 

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 and AgTech Startups Raised $20B in 2019, DoorDash, Uber Eats and Postmates Explore Merger + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/02/27/food-agtech-startups-raised-20b-in-2019-doordash-uber-eats-and-postmates-explore-merger-more/feed/ 0 Oatly Considers IPO and Sale, Brandless Shutters + More https://foodtechconnect.com/2020/02/13/oatly-considers-ipo-and-sale-brandless-shutters-more/ https://foodtechconnect.com/2020/02/13/oatly-considers-ipo-and-sale-brandless-shutters-more/#respond Thu, 13 Feb 2020 18:16:59 +0000 https://foodtechconnect.com/?p=33088 Source: VegNews 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 witnessing Beyond Meat’s successful IPO last May, Oatly is now looking into various funding options and possible exit scenarios, including an IPO in the next 18 to 24 months. The brand could raise as much as $100 million from international investors, along with $20 million from existing investors. Major headlines in retail this week, with news of DTC company Brandless shutting down less than two years after SoftBank’s Vision Fund said it would invest $240 million in the startup. Row 7 announced a partnership with Wegmans to bring their specialty produce into supermarkets. Lastly, Sweetgreen has partnered with chef David Chang to launch a kelp bowl, available across all US locations until March 26.   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 Considering IPO, Sale and Additional Funding – Food Dive Oatly could raise $100m in growth capital from international investors, along with $20m from existing investors. The company is reportedly considering to sell itself to a large CPG company such as Nestlé, Unilever, PepsiCo, Coca-Cola or Saputo.   2. SoftBank-Backed Brandless Shutters Less Than 2 Years After Investment – Bloomberg The company will stop taking orders and cut about 70 employees, less than two years after SoftBank’s Vision Fund said it would invest $240m in the startup.   3. Dan Barber Bets on Grocery Stores to Bring Better Vegetables to the Masses – Civil Eats A new partnership with Wegmans brings Row 7’s bred-for-flavor produce—and conversations about seeds—into supermarkets.   4. For Sweetgreen, 2020 Is the Year Kelp Becomes Cool – The Washington Post The salad chain has collaborated with chef David Chang to debut its kelp bowl, available coast to coast until March 26.   5. Alpha Foods Raises $28M for Its Vegetarian Prepared Foods – TechCrunch AccelFoods led the round. Funding will go towards new products, making new hires and expanding its distribution channels nationally and internationally.   6. Freight Farms Raises $15M Series B Led by Ospraie Ag Science – AgFunder Existing investor Spark Capital also participated in the round, which brings the company’s total funding to over $28m. Funding will go towards software updates and plant science R&D.   7. Verde Farms Receives $15M Investment – Meat + Poultry Manna Tree Partners led the round. The company will introduce RTE mealtime options and continue to expand its product lines across the US in the near-term and internationally in the long-term.   8. Dirty Lemon Makes Mass Retail Push with Walmart Launch – BevNet The launch will bring three of Dirty Lemon’s most popular SKUs to 500 Walmart locations nationwide.   9. State of Retail Tech: Ahead in 2020 – CB Insights In 2020, funding to AI applications in retail and CPG will be increasingly important to bring precision, efficiency and personalization across physical and digital retail.   10. Half of Us Face Obesity, Dire Projections Show – New York Times By 2030, nearly one in two adults will be obese, and nearly one in four will be severely obese.   11. Food Waste Is Worse Than We Thought and the Rich May Be to Blame – Bloomberg The world is throwing away more than twice as much as previously thought, with the wealthy the worst offenders.   12. Snack-Maker Kind Takes Its Bars to Refrigerators and Freezers – CNBC Kind is introducing frozen and refrigerated bars, chocolate bark and snack mix under its namesake brand. Its acquisition of Creative Snacks and joint venture with Mars helped bring about the new products. The company is actively looking for more acquisitions.   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 Considers IPO and Sale, Brandless Shutters + More appeared first on Food+Tech Connect.

]]>

Source: VegNews

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 witnessing Beyond Meat’s successful IPO last May, Oatly is now looking into various funding options and possible exit scenarios, including an IPO in the next 18 to 24 months. The brand could raise as much as $100 million from international investors, along with $20 million from existing investors.

Major headlines in retail this week, with news of DTC company Brandless shutting down less than two years after SoftBank’s Vision Fund said it would invest $240 million in the startup. Row 7 announced a partnership with Wegmans to bring their specialty produce into supermarkets.

Lastly, Sweetgreen has partnered with chef David Chang to launch a kelp bowl, available across all US locations until March 26.

 

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 Considering IPO, Sale and Additional Funding – Food Dive

Oatly could raise $100m in growth capital from international investors, along with $20m from existing investors. The company is reportedly considering to sell itself to a large CPG company such as Nestlé, Unilever, PepsiCo, Coca-Cola or Saputo.

 

2. SoftBank-Backed Brandless Shutters Less Than 2 Years After Investment – Bloomberg

The company will stop taking orders and cut about 70 employees, less than two years after SoftBank’s Vision Fund said it would invest $240m in the startup.

 

3. Dan Barber Bets on Grocery Stores to Bring Better Vegetables to the Masses – Civil Eats

A new partnership with Wegmans brings Row 7’s bred-for-flavor produce—and conversations about seeds—into supermarkets.

 

4. For Sweetgreen, 2020 Is the Year Kelp Becomes Cool – The Washington Post

The salad chain has collaborated with chef David Chang to debut its kelp bowl, available coast to coast until March 26.

 

5. Alpha Foods Raises $28M for Its Vegetarian Prepared Foods – TechCrunch

AccelFoods led the round. Funding will go towards new products, making new hires and expanding its distribution channels nationally and internationally.

 

6. Freight Farms Raises $15M Series B Led by Ospraie Ag Science – AgFunder

Existing investor Spark Capital also participated in the round, which brings the company’s total funding to over $28m. Funding will go towards software updates and plant science R&D.

 

7. Verde Farms Receives $15M Investment – Meat + Poultry

Manna Tree Partners led the round. The company will introduce RTE mealtime options and continue to expand its product lines across the US in the near-term and internationally in the long-term.

 

8. Dirty Lemon Makes Mass Retail Push with Walmart Launch – BevNet

The launch will bring three of Dirty Lemon’s most popular SKUs to 500 Walmart locations nationwide.

 

9. State of Retail Tech: Ahead in 2020 – CB Insights

In 2020, funding to AI applications in retail and CPG will be increasingly important to bring precision, efficiency and personalization across physical and digital retail.

 

10. Half of Us Face Obesity, Dire Projections Show – New York Times

By 2030, nearly one in two adults will be obese, and nearly one in four will be severely obese.

 

11. Food Waste Is Worse Than We Thought and the Rich May Be to Blame – Bloomberg

The world is throwing away more than twice as much as previously thought, with the wealthy the worst offenders.

 

12. Snack-Maker Kind Takes Its Bars to Refrigerators and Freezers – CNBC

Kind is introducing frozen and refrigerated bars, chocolate bark and snack mix under its namesake brand. Its acquisition of Creative Snacks and joint venture with Mars helped bring about the new products. The company is actively looking for more acquisitions.

 

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 Considers IPO and Sale, Brandless Shutters + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/02/13/oatly-considers-ipo-and-sale-brandless-shutters-more/feed/ 0 Califia Farms Raises $225, Indigo Ag Closes $200M, NovaMeat Develops 3-D Printed Plant-Based Steak + More https://foodtechconnect.com/2020/01/16/califia-farms-raises-225-indigo-ag-closes-200m-novameat-develops-3-d-printed-plant-based-steak-more/ https://foodtechconnect.com/2020/01/16/califia-farms-raises-225-indigo-ag-closes-200m-novameat-develops-3-d-printed-plant-based-steak-more/#respond Thu, 16 Jan 2020 20:18:09 +0000 https://foodtechconnect.com/?p=33044 Source: Califia Farms 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 dairy maker Califia Farms has received a $225 million infusion to expand its oat-based products and launch new product lines. Meanwhile, the parent company of plant-based fish brand Good Catch, Gathered Foods, has just raised $32 million from Greenleaf Foods and General Mill’s VC arm 301 Inc. Spain-based NovaMeat has unveiled its 3-D printed plant-based beef muscle cut which rivals the look and feel of a steak. In other news, Indigo Ag has raised $200 million to support the continued global development of Indigo Grain Marketplace. And last but not least, the USDA has updated its calorie counts – by tracking consumption and waste, they now have a better measure of the calories we’re actually burning.   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 Milk Substitute Market Gets Frothy with $225M for Califia Farms – TechCrunch Investors include Qatar Investment Authority, Temasek, Claridge and Green Monday Ventures. The company will use the money to increase its production capacity, R&D efforts and geographical expansion.   8. Indigo Ag Closes $200M Convertible + Debt Round with Fedex, a Potential Buyer of Indigo Carbon Credits – AgFunder The bridge round takes the company’s total funding to $850m. The new capital will support the continued global development of Indigo Grain Marketplace and promote the adoption of Indigo Carbon.   2. Good Catch Nets General Mills in $32M Financing Round – Food Dive Gathered Foods received $32m led by Stray Dog Capital and Rocana Ventures. The funds will be used to expand distribution in North America and Europe, enter Asia, open a manufacturing facility, launch new products and enter foodservice.   6. Spain: NovaMeat Develops ‘World’s First’ Meat Analogue with Look and Feel of Whole Beef Muscle Cut – Food Navigator The company has developed a 3D-printed plant-based beef steak made from pea protein and algae. Moving forward, it wants to partner with top restaurants, space agencies and cultured meat companies.   3. Americans Hit Fresh Milestone in 2019 in Buying Stuff Online – Bloomberg Nonstore retailers posted 2019 sales of $778.4b, up 13.1% from the prior year and squeaking by the individual totals for categories of food and beverage stores, restaurants and general merchandise vendors.   4. Argentina: Amazon for Ag? Agrofy Closes $23M Series B in LatAm’s Largest-Ever Agtech Deal – AgFunder SP Ventures led the round. Part of funding will go towards introducing transaction-based fees and expanding to Mexico in 2020. The company matches buyers and sellers of agricultural products.   5. USDA Scientists Are Rethinking Calorie Counts. Good News: They’re Lower Than We Thought – New Food Economy Certain ingredients like almonds, cashews, and walnuts are harder for eaters to digest than we realize. By tracking consumption and waste, USDA researchers now have a better measure of the calories we’re actually burning.   7. India: Zomato to Raise $150M from Ant Financial at $3B Valuation – Bloomberg The capital is part of a $500m fundraising that’s likely to close in the next two months. The fund infusion also comes when Zomato is in talks to acquire UberEats in India.   9. Netherlands: Mosa Meat Gets Investment and Support to Bring Cultured Meat to Europe in 2022 – Food Dive The company is receiving funds from Lowercarbon Capital and Nutreco, which also will help create the nutrients to grow the cells. It aims to get cultured hamburgers on the market in Europe in the first half of 2022. Financial terms were undisclosed.   16. 2018 U.S. Food & Beverage Startup Investment Report Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams.  Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.   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 Califia Farms Raises $225, Indigo Ag Closes $200M, NovaMeat Develops 3-D Printed Plant-Based Steak + More appeared first on Food+Tech Connect.

]]>

Source: Califia Farms

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 dairy maker Califia Farms has received a $225 million infusion to expand its oat-based products and launch new product lines. Meanwhile, the parent company of plant-based fish brand Good Catch, Gathered Foods, has just raised $32 million from Greenleaf Foods and General Mill’s VC arm 301 Inc. Spain-based NovaMeat has unveiled its 3-D printed plant-based beef muscle cut which rivals the look and feel of a steak.

In other news, Indigo Ag has raised $200 million to support the continued global development of Indigo Grain Marketplace.

And last but not least, the USDA has updated its calorie counts – by tracking consumption and waste, they now have a better measure of the calories we’re actually burning.

 

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 Milk Substitute Market Gets Frothy with $225M for Califia Farms – TechCrunch

Investors include Qatar Investment Authority, Temasek, Claridge and Green Monday Ventures. The company will use the money to increase its production capacity, R&D efforts and geographical expansion.

 

8. Indigo Ag Closes $200M Convertible + Debt Round with Fedex, a Potential Buyer of Indigo Carbon Credits – AgFunder

The bridge round takes the company’s total funding to $850m. The new capital will support the continued global development of Indigo Grain Marketplace and promote the adoption of Indigo Carbon.

 

2. Good Catch Nets General Mills in $32M Financing Round – Food Dive

Gathered Foods received $32m led by Stray Dog Capital and Rocana Ventures. The funds will be used to expand distribution in North America and Europe, enter Asia, open a manufacturing facility, launch new products and enter foodservice.

 

6. Spain: NovaMeat Develops ‘World’s First’ Meat Analogue with Look and Feel of Whole Beef Muscle Cut – Food Navigator

The company has developed a 3D-printed plant-based beef steak made from pea protein and algae. Moving forward, it wants to partner with top restaurants, space agencies and cultured meat companies.

 

3. Americans Hit Fresh Milestone in 2019 in Buying Stuff Online – Bloomberg

Nonstore retailers posted 2019 sales of $778.4b, up 13.1% from the prior year and squeaking by the individual totals for categories of food and beverage stores, restaurants and general merchandise vendors.

 

4. Argentina: Amazon for Ag? Agrofy Closes $23M Series B in LatAm’s Largest-Ever Agtech Deal – AgFunder

SP Ventures led the round. Part of funding will go towards introducing transaction-based fees and expanding to Mexico in 2020. The company matches buyers and sellers of agricultural products.

 

5. USDA Scientists Are Rethinking Calorie Counts. Good News: They’re Lower Than We Thought – New Food Economy

Certain ingredients like almonds, cashews, and walnuts are harder for eaters to digest than we realize. By tracking consumption and waste, USDA researchers now have a better measure of the calories we’re actually burning.

 

7. India: Zomato to Raise $150M from Ant Financial at $3B Valuation – Bloomberg

The capital is part of a $500m fundraising that’s likely to close in the next two months. The fund infusion also comes when Zomato is in talks to acquire UberEats in India.

 

9. Netherlands: Mosa Meat Gets Investment and Support to Bring Cultured Meat to Europe in 2022 – Food Dive

The company is receiving funds from Lowercarbon Capital and Nutreco, which also will help create the nutrients to grow the cells. It aims to get cultured hamburgers on the market in Europe in the first half of 2022. Financial terms were undisclosed.

 

16. 2018 U.S. Food & Beverage Startup Investment Report

Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams.  Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.

 

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 Califia Farms Raises $225, Indigo Ag Closes $200M, NovaMeat Develops 3-D Printed Plant-Based Steak + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2020/01/16/califia-farms-raises-225-indigo-ag-closes-200m-novameat-develops-3-d-printed-plant-based-steak-more/feed/ 0 Halo Top Gets Acquired, MIT Allegedly Faked Food Computer Results + More https://foodtechconnect.com/2019/09/12/halo-top-gets-acquired-mit-allegedly-faked-food-computer-results-more/ https://foodtechconnect.com/2019/09/12/halo-top-gets-acquired-mit-allegedly-faked-food-computer-results-more/#respond Thu, 12 Sep 2019 17:57:20 +0000 https://foodtechconnect.com/?p=32861 Source: Food Navigator 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. Investments abound in the CPG and retail sector. Blue Bunny maker Wells Enterprise acquired Halo Top for an undisclosed sum to Wells Enterprise.  UK startup Strong Roots received $18 million in funding to expand its frozen vegetable products into the U.S. Plant-based dairy maker Kite Hill has raised $15 million, bringing total funding to $80 million. Simbe has raised $26 million to deploy its inventory robot. Swiftly is launching its supermarket OS system with its $15.6 million round. Caper has raised $10 million to roll out its smart grocery carts to more locations. In the realm of alternative meats, Kroger announced the launch of its own plant-based line. Novameat and Redefine Meat both received funding to develop and finalize their 3D printing meat platforms. Just Salad has just announced that it will be removing its beef offering and replacing it with Beyond Meat nationwide. Impossible Foods is set to release a ground “meat” product soon, launching in a city like Miami or Los Angeles. Lastly, a new report found that natural foods and beverages grew 5 percent within the same three year period, reaching $47.2 billion in dollar volume. Organic food and beverages outpace the total market at 2.8 percent growth.   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. Blue Bunny Ice Cream Maker Wells Enterprise to Buy Halo Top – Food Dive Financial terms are undisclosed. While Eden Creamery was looking to sell Halo Top for the past couple of years for as much as $2b, Halo Top’s CEO showed little interest in the brand getting acquired by a multinational CPG company.   2. The Epstein-Funded MIT Lab Has an Ambitious Project That Purports to Revolutionize Agriculture. Insiders Say It’s Mostly Smoke and Mirrors. – Business Insider The “personal food computer,” a device that senior researcher Caleb Harper presented as helping thousands of people across the globe grow custom, local food, simply doesn’t work.   3. UK: Food Tech Startup Strong Roots Raises $18M for Vegetable-Based Frozen Products – VentureBeat Goode Partners led the round. Funding will cement the startup’s global expansion, particularly in the US.   4. Kroger Launches Plant-Based Collection – Food Dive Kroger announced a new private label collection, Simple Truth Plant Based. The line will include fresh meatless burger patties and grinds along with plant-based products.   5. A Popular Salad Chain Is Ditching Beef for Good and Replacing It With Beyond Meat – Business Insider Just Salad’s new Beyond Beef Meatball will be available nationwide as a topping for wraps and bowls. Just Salad will become the first chain to eliminate beef entirely from its menu in favor of a plant-based alternative.   6. Seattle Startup Swiftly Raises $15.6M, Launches Supermarket OS to Help Retailers Battle Amazon – GeekWire Investors included Novel Private Equity, Mendacre, Ron Burkle, Sam McBride, The Ward Family and more. The funding round coincides with its debut of its checkout system for brick and mortar stores.   7. Simbe Raises a $26M Series A for Its Retail Inventory Robot – TechCrunch The round was led by Venrock, and will go towards growing its headcount, exploring new markets and accelerating the deployment of its existing robots.   8. Kite Hill, Co-Founded by the Creator of Impossible Foods, Looks to Be Gaining Traction, Too – TechCrunch The nine-year-old company is sealing up $15m in funding, bringing total funding to $80m.   9. Israel: Redefine Meat Raises $6M for 3D Printed Meat Alternatives – The Spoon CPT Capital led the round. New capital will be used to finalize its alternative meat 3D printer and ensure that it hits its timeline release goal of 2020.   10. Magic Spoon Gets $5.5M in Seed Funds to Reinvent the Cereal Category – Food Dive Lightspeed Venture Partners led the round. The funds will be used to expand the business, hire more people, increase marketing and create new flavors.   11. Impossible Foods Teases Location for Retail Launch, Reveals First Product – The Spoon Its first retail product will likely be packaged around ground “meat” and launch in a city like Los Angeles or Miami.   12. SPINS Releases First State of the Natural Industry Report – Nosh While overall food and beverage grew only 1.7% year over year, natural grew 5% within the same three year period, reaching $47.2b in dollar volume. Organic food and beverages outpace the total market at 2.8% growth.   13. SPINS Releases First State of the Natural Industry Report – Nosh While overall food and beverage grew only 1.7% year over year, natural grew 5% within the same three year period, reaching $47.2b in dollar volume. Organic food and beverages outpace the total market at 2.8% growth.   14. Regenerative AgTech Meetup Join us at Regenerative AgTech on September 19th to learn about the state of regenerative agriculture and how technology is helping farmers regenerate their soils. RSVP here.   15. 2018 U.S. Food & Beverage Startup Investment Report Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams.  Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.   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 Halo Top Gets Acquired, MIT Allegedly Faked Food Computer Results + More appeared first on Food+Tech Connect.

]]>

Source: Food Navigator

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.

Investments abound in the CPG and retail sector. Blue Bunny maker Wells Enterprise acquired Halo Top for an undisclosed sum to Wells Enterprise.  UK startup Strong Roots received $18 million in funding to expand its frozen vegetable products into the U.S. Plant-based dairy maker Kite Hill has raised $15 million, bringing total funding to $80 million. Simbe has raised $26 million to deploy its inventory robot. Swiftly is launching its supermarket OS system with its $15.6 million round. Caper has raised $10 million to roll out its smart grocery carts to more locations.

In the realm of alternative meats, Kroger announced the launch of its own plant-based line. Novameat and Redefine Meat both received funding to develop and finalize their 3D printing meat platforms. Just Salad has just announced that it will be removing its beef offering and replacing it with Beyond Meat nationwide. Impossible Foods is set to release a ground “meat” product soon, launching in a city like Miami or Los Angeles.

Lastly, a new report found that natural foods and beverages grew 5 percent within the same three year period, reaching $47.2 billion in dollar volume. Organic food and beverages outpace the total market at 2.8 percent growth.

 

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. Blue Bunny Ice Cream Maker Wells Enterprise to Buy Halo Top – Food Dive

Financial terms are undisclosed. While Eden Creamery was looking to sell Halo Top for the past couple of years for as much as $2b, Halo Top’s CEO showed little interest in the brand getting acquired by a multinational CPG company.

 

2. The Epstein-Funded MIT Lab Has an Ambitious Project That Purports to Revolutionize Agriculture. Insiders Say It’s Mostly Smoke and Mirrors. – Business Insider

The “personal food computer,” a device that senior researcher Caleb Harper presented as helping thousands of people across the globe grow custom, local food, simply doesn’t work.

 

3. UK: Food Tech Startup Strong Roots Raises $18M for Vegetable-Based Frozen Products – VentureBeat

Goode Partners led the round. Funding will cement the startup’s global expansion, particularly in the US.

 

4. Kroger Launches Plant-Based Collection – Food Dive

Kroger announced a new private label collection, Simple Truth Plant Based. The line will include fresh meatless burger patties and grinds along with plant-based products.

 

5. A Popular Salad Chain Is Ditching Beef for Good and Replacing It With Beyond Meat – Business Insider

Just Salad’s new Beyond Beef Meatball will be available nationwide as a topping for wraps and bowls. Just Salad will become the first chain to eliminate beef entirely from its menu in favor of a plant-based alternative.

 

6. Seattle Startup Swiftly Raises $15.6M, Launches Supermarket OS to Help Retailers Battle Amazon – GeekWire

Investors included Novel Private Equity, Mendacre, Ron Burkle, Sam McBride, The Ward Family and more. The funding round coincides with its debut of its checkout system for brick and mortar stores.

 

7. Simbe Raises a $26M Series A for Its Retail Inventory Robot – TechCrunch

The round was led by Venrock, and will go towards growing its headcount, exploring new markets and accelerating the deployment of its existing robots.

 

8. Kite Hill, Co-Founded by the Creator of Impossible Foods, Looks to Be Gaining Traction, Too – TechCrunch

The nine-year-old company is sealing up $15m in funding, bringing total funding to $80m.

 

9. Israel: Redefine Meat Raises $6M for 3D Printed Meat Alternatives – The Spoon

CPT Capital led the round. New capital will be used to finalize its alternative meat 3D printer and ensure that it hits its timeline release goal of 2020.

 

10. Magic Spoon Gets $5.5M in Seed Funds to Reinvent the Cereal Category – Food Dive

Lightspeed Venture Partners led the round. The funds will be used to expand the business, hire more people, increase marketing and create new flavors.

 

11. Impossible Foods Teases Location for Retail Launch, Reveals First Product – The Spoon

Its first retail product will likely be packaged around ground “meat” and launch in a city like Los Angeles or Miami.

 

12. SPINS Releases First State of the Natural Industry Report – Nosh

While overall food and beverage grew only 1.7% year over year, natural grew 5% within the same three year period, reaching $47.2b in dollar volume. Organic food and beverages outpace the total market at 2.8% growth.

 

13. SPINS Releases First State of the Natural Industry Report – Nosh

While overall food and beverage grew only 1.7% year over year, natural grew 5% within the same three year period, reaching $47.2b in dollar volume. Organic food and beverages outpace the total market at 2.8% growth.

 

14. Regenerative AgTech Meetup

Join us at Regenerative AgTech on September 19th to learn about the state of regenerative agriculture and how technology is helping farmers regenerate their soils. RSVP here.

 

15. 2018 U.S. Food & Beverage Startup Investment Report

Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams.  Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.

 

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 Halo Top Gets Acquired, MIT Allegedly Faked Food Computer Results + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2019/09/12/halo-top-gets-acquired-mit-allegedly-faked-food-computer-results-more/feed/ 0 TERRA Food & Ag Accelerator Announces 4th Cohort https://foodtechconnect.com/2019/09/11/terra-food-ag-accelerator-announces-4th-cohort/ https://foodtechconnect.com/2019/09/11/terra-food-ag-accelerator-announces-4th-cohort/#respond Thu, 12 Sep 2019 02:35:09 +0000 https://foodtechconnect.com/?p=32854   TERRA, Rabobank and RocketSpace’s next-generation accelerator, kicks off its fourth Cohort next week, partnering 13 innovative startups with a consortium of corporates working across the food and agriculture value chain: Beta San Miguel, GrainCorp, Griffith Foods, OSI, Meat & Livestock Australia, and Tate & Lyle.   TERRA brings together cutting edge startups with forward thinking corporates to co-develop new products, adapt technologies to new industries, build lasting commercial partners and more. With their corporate partners, these startups will design and implement pilot tests over the next six months, each focusing on a designated business challenge. Cohort IV will tackle rapid food safety testing, supply chain tech to reduce waste and novel ingredients like plant-based protein from upcycled carbon dioxide with newly selected startups who beat out over 300 applications spanning 50 countries.   The Cohort Altum Technologies (Finland): Uses software-guided power ultrasound to remove fouling from industrial equipment with no production stoppages and no toxic chemicals. Burlap & Barrel (USA): Sources unique, beautiful spices for professional chefs and home cooks. ClearLeaf S. A. (Costa Rica): Designs and commercializes innovative pre- and post-harvest solutions that protect the environment and optimize farmer profits. Corumat Inc. (USA): High-tech, biodegradable packaging. DataFarming (Australia):  Aims to unlock the potential of Precision Agriculture products and farm data by putting easy-to-use, simple, automated and low-cost digital solutions in the hands of agronomists and producers. Digested Organics (USA): Converts organic waste into clean water, concentrated co-products, and renewable energy. Kiverdi (USA): Generates edible ingredients from air’s upcycled carbon dioxide. Phyto Corporation (South Korea): Creates the future of food with Salicornia, a plant grown by seawater. Shameless Pets, LLC (USA): Sources edible, safe, and nutritious food that would otherwise go to waste. SnapDNA (USA): Executes rapid food safety testing through pathogen analysis. SwissDeCode (Switzerland): Helps food and feed manufacturers transform contamination threats into sustainable opportunities. The Better Meat Co. (USA): Provides innovative plant protein formulas for foodservice providers and meat processors to enhance taste and sustainability. Yarok Microbio (Israel): Develops a fast microbiological testing system for the fresh food industry to protect consumers and safeguard producer interests. How can startups and corporates get involved? Learn more here.   

The post TERRA Food & Ag Accelerator Announces 4th Cohort appeared first on Food+Tech Connect.

]]>  

TERRA, Rabobank and RocketSpace’s next-generation accelerator, kicks off its fourth Cohort next week, partnering 13 innovative startups with a consortium of corporates working across the food and agriculture value chain: Beta San Miguel, GrainCorp, Griffith Foods, OSI, Meat & Livestock Australia, and Tate & Lyle.

 

TERRA brings together cutting edge startups with forward thinking corporates to co-develop new products, adapt technologies to new industries, build lasting commercial partners and more. With their corporate partners, these startups will design and implement pilot tests over the next six months, each focusing on a designated business challenge.

Cohort IV will tackle rapid food safety testing, supply chain tech to reduce waste and novel ingredients like plant-based protein from upcycled carbon dioxide with newly selected startups who beat out over 300 applications spanning 50 countries.

 

The Cohort

Altum Technologies (Finland): Uses software-guided power ultrasound to remove fouling from industrial equipment with no production stoppages and no toxic chemicals.

Burlap & Barrel (USA): Sources unique, beautiful spices for professional chefs and home cooks.

ClearLeaf S. A. (Costa Rica): Designs and commercializes innovative pre- and post-harvest solutions that protect the environment and optimize farmer profits.

Corumat Inc. (USA): High-tech, biodegradable packaging.

DataFarming (Australia):  Aims to unlock the potential of Precision Agriculture products and farm data by putting easy-to-use, simple, automated and low-cost digital solutions in the hands of agronomists and producers.

Digested Organics (USA): Converts organic waste into clean water, concentrated co-products, and renewable energy.

Kiverdi (USA): Generates edible ingredients from air’s upcycled carbon dioxide.

Phyto Corporation (South Korea): Creates the future of food with Salicornia, a plant grown by seawater.

Shameless Pets, LLC (USA): Sources edible, safe, and nutritious food that would otherwise go to waste.

SnapDNA (USA): Executes rapid food safety testing through pathogen analysis.

SwissDeCode (Switzerland): Helps food and feed manufacturers transform contamination threats into sustainable opportunities.

The Better Meat Co. (USA): Provides innovative plant protein formulas for foodservice providers and meat processors to enhance taste and sustainability.

Yarok Microbio (Israel): Develops a fast microbiological testing system for the fresh food industry to protect consumers and safeguard producer interests.

How can startups and corporates get involved? Learn more here. 

 

The post TERRA Food & Ag Accelerator Announces 4th Cohort appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2019/09/11/terra-food-ag-accelerator-announces-4th-cohort/feed/ 0 Kellogg Launches Bleeding Vegan Burger, Hormel Launches Plant-Based Ground Beef + More https://foodtechconnect.com/2019/09/05/kellogg-launches-bleeding-vegan-burger-hormel-launches-plant-based-ground-beef-more/ https://foodtechconnect.com/2019/09/05/kellogg-launches-bleeding-vegan-burger-hormel-launches-plant-based-ground-beef-more/#respond Thu, 05 Sep 2019 20:26:08 +0000 https://foodtechconnect.com/?p=32825 Source: Kellogg 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 meat continues to place its bets on plant-based proteins with news this week of Kellogg launching a plant-based bleeding burger under its Morningstar line and Hormel launching plant-based ground beef. Tyson has invested an undisclosed sum into plant-based shrimp maker New Wave Foods. Cargill has poured $75 million into North America’s largest pea protein maker and Beyond Meat Supplier, Puris. The leading US cultured meat companies –  JUST, Memphis Meats, Finless Foods, BlueNalu, and Fork and Goode – have joined to form the Alliance for Meat, Poultry, and Seafood Innovation. In retail news, Bellwether Coffee has raised $40 million to meet global demand for its electric coffee roasters. Meanwhile, Amazon is testing a fingerprint checkout technology called “Orville” that aims to roll out in Whole Foods early next year.   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. Kellogg Plans Bleeding Burger as It Catches Up on Faux Meat – Bloomberg Early next year, Kellogg’s Morningstar Farms will begin selling the “Incogmeato” burger: a plant-based, refrigerated patty made with non-GMO soy that is designed to mimic meat’s look and flavor.   2. Tyson Foods Invests in Plant-Based Shrimp Company – CNBC After selling its stake in Beyond Meat in the spring, Tyson Foods’ next bet is on plant-based shellfish. Tyson Ventures is investing an undisclosed sum in New Wave Foods.   3. Hormel Grows into Plant-Based Meat with Its New Happy Little Plants Brand – Food Dive Hormel Foods is launching a non-GMO meat substitute made with soy protein that can be used in any recipe calling for ground meat under its new Happy Little Plants brand.   4. Cargill Makes Additional $75M Investment into Beyond Meat Supplier Puris – The Spoon The new investment will allow Puris to more than double its pea protein production.   5. The Leading US Cell-Based Meat Startups Just Forged an Alliance – Quartz JUST, Memphis Meats, Finless Foods, BlueNalu, and Fork and Goode have joined to form the Alliance for Meat, Poultry, and Seafood Innovation. The group will lobby on behalf of cell-based meat interests and drive efforts to educate the public.   6. Bellwether Coffee Raises $40M for Eco-Friendly Roasters – VentureBeat DBL Partners and Lyndon and Peter Rive led the round. The funds will accelerate the company’s efforts to boost incomes for coffee farmers, eliminate roast processes harmful to the planet and meet global demand for its electric roaster.   9. Canada: Terramera Raises $45M Series B on Mission to Reduce Chemical Use in Ag by 80% – AgFunder  Ospraie Ag Science and S2G Ventures led the round. Funding will go towards advancing Actigate, its targeted crop protection technology.   8. DoorDash Picks Australia for Its First Move Outside North America – CNN The six-year-old startup added its first city outside North America on Wednesday, launching in Melbourne and announcing plans to grow its business in Australia over the next year.   9. With Regenerative Agriculture Booming, the Question of Pesticide Use Looms Large – Civil Eats Regenerative practitioners say that healthy soil eventually leads to reducing synthetic chemicals. But some advocates say those chemicals have damaging effects and should be addressed.   10. Bioenergy DevCo Captures $106M to Digest Waste in a City Near You – AgFunder Newlight Partners led the round. In addition to fueling the completion of its first US facility in Maryland, the new capital will be used to help expand into other metropolitan areas.   11. Cooks Venture Raises $12M to Promote Sustainable Agriculture – VentureBeat Following on the heels of a partnership with FreshDirect, the round was led by Amerra Capital Management. The funds will lay the foundation for expanded processing capabilities and collaborative work with scientists to improve industry practices.   12. Yes, Give Your Fingerprints to Amazon for a Slightly Quicker Checkout at Whole Foods – Eater The tech and retail giant is currently testing a system called “Orville” that allows Amazon Prime users to scan their hands to ring up a purchase. It’s currently being tested at its New York Office.   13. How the Trump Administration Limited the Scope of the USDA’s 2020 Dietary Guidelines – The Washington Post The 80 topics that will be addressed exclude the health effects of consuming red and processed meat, ultraprocessed foods and sodium.   14. Regenerative AgTech Meetup Join us at Regenerative AgTech on September 19th to learn about the state of regenerative agriculture and how technology is helping farmers regenerate their soils. RSVP here.   15. 2018 U.S. Food & Beverage Startup Investment Report Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams.  Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.   16. Women, Women of Color & Gender Non-Conforming Innovator Database We created this open-source list to increase representation, support and investment in women, women of color & gender-nonconforming innovators in food. Join the list & help us spread the word using #womxninfood   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 Kellogg Launches Bleeding Vegan Burger, Hormel Launches Plant-Based Ground Beef + More appeared first on Food+Tech Connect.

]]>

Source: Kellogg

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 meat continues to place its bets on plant-based proteins with news this week of Kellogg launching a plant-based bleeding burger under its Morningstar line and Hormel launching plant-based ground beef. Tyson has invested an undisclosed sum into plant-based shrimp maker New Wave Foods. Cargill has poured $75 million into North America’s largest pea protein maker and Beyond Meat Supplier, Puris.

The leading US cultured meat companies –  JUST, Memphis Meats, Finless Foods, BlueNalu, and Fork and Goode – have joined to form the Alliance for Meat, Poultry, and Seafood Innovation.

In retail news, Bellwether Coffee has raised $40 million to meet global demand for its electric coffee roasters. Meanwhile, Amazon is testing a fingerprint checkout technology called “Orville” that aims to roll out in Whole Foods early next year.

 

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. Kellogg Plans Bleeding Burger as It Catches Up on Faux Meat – Bloomberg

Early next year, Kellogg’s Morningstar Farms will begin selling the “Incogmeato” burger: a plant-based, refrigerated patty made with non-GMO soy that is designed to mimic meat’s look and flavor.

 

2. Tyson Foods Invests in Plant-Based Shrimp Company – CNBC

After selling its stake in Beyond Meat in the spring, Tyson Foods’ next bet is on plant-based shellfish. Tyson Ventures is investing an undisclosed sum in New Wave Foods.

 

3. Hormel Grows into Plant-Based Meat with Its New Happy Little Plants Brand – Food Dive

Hormel Foods is launching a non-GMO meat substitute made with soy protein that can be used in any recipe calling for ground meat under its new Happy Little Plants brand.

 

4. Cargill Makes Additional $75M Investment into Beyond Meat Supplier Puris – The Spoon

The new investment will allow Puris to more than double its pea protein production.

 

5. The Leading US Cell-Based Meat Startups Just Forged an Alliance – Quartz

JUST, Memphis Meats, Finless Foods, BlueNalu, and Fork and Goode have joined to form the Alliance for Meat, Poultry, and Seafood Innovation. The group will lobby on behalf of cell-based meat interests and drive efforts to educate the public.

 

6. Bellwether Coffee Raises $40M for Eco-Friendly Roasters – VentureBeat

DBL Partners and Lyndon and Peter Rive led the round. The funds will accelerate the company’s efforts to boost incomes for coffee farmers, eliminate roast processes harmful to the planet and meet global demand for its electric roaster.

 

9. Canada: Terramera Raises $45M Series B on Mission to Reduce Chemical Use in Ag by 80% – AgFunder 

Ospraie Ag Science and S2G Ventures led the round. Funding will go towards advancing Actigate, its targeted crop protection technology.

 

8. DoorDash Picks Australia for Its First Move Outside North America – CNN

The six-year-old startup added its first city outside North America on Wednesday, launching in Melbourne and announcing plans to grow its business in Australia over the next year.

 

9. With Regenerative Agriculture Booming, the Question of Pesticide Use Looms Large – Civil Eats

Regenerative practitioners say that healthy soil eventually leads to reducing synthetic chemicals. But some advocates say those chemicals have damaging effects and should be addressed.

 

10. Bioenergy DevCo Captures $106M to Digest Waste in a City Near You – AgFunder

Newlight Partners led the round. In addition to fueling the completion of its first US facility in Maryland, the new capital will be used to help expand into other metropolitan areas.

 

11. Cooks Venture Raises $12M to Promote Sustainable Agriculture – VentureBeat

Following on the heels of a partnership with FreshDirect, the round was led by Amerra Capital Management. The funds will lay the foundation for expanded processing capabilities and collaborative work with scientists to improve industry practices.

 

12. Yes, Give Your Fingerprints to Amazon for a Slightly Quicker Checkout at Whole Foods – Eater

The tech and retail giant is currently testing a system called “Orville” that allows Amazon Prime users to scan their hands to ring up a purchase. It’s currently being tested at its New York Office.

 

13. How the Trump Administration Limited the Scope of the USDA’s 2020 Dietary Guidelines – The Washington Post

The 80 topics that will be addressed exclude the health effects of consuming red and processed meat, ultraprocessed foods and sodium.

 

14. Regenerative AgTech Meetup

Join us at Regenerative AgTech on September 19th to learn about the state of regenerative agriculture and how technology is helping farmers regenerate their soils. RSVP here.

 

15. 2018 U.S. Food & Beverage Startup Investment Report

Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams.  Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.

 

16. Women, Women of Color & Gender Non-Conforming Innovator Database

We created this open-source list to increase representation, support and investment in women, women of color & gender-nonconforming innovators in food. Join the list & help us spread the word using #womxninfood

 

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 Kellogg Launches Bleeding Vegan Burger, Hormel Launches Plant-Based Ground Beef + More appeared first on Food+Tech Connect.

]]> https://foodtechconnect.com/2019/09/05/kellogg-launches-bleeding-vegan-burger-hormel-launches-plant-based-ground-beef-more/feed/ 0