Food and agriculture startups focused on reducing waste, using artificial intelligence to deliver higher food, and offering more sustainable and plant-based options, took center stage at Rabobank's FoodBytes! pitch competition and networking event in New York City last week.
SomaDetect, a deep learning artificial intelligence dairy company that uses scatter light technology and human centered design – not chemicals or consumables – to provide real-time automated analysis of milk quality won the highly coveted Judge’s Choice Award.
Winnow, a technology company that helps restaurants improve their profitability and run a more sustainable business by monitoring, measuring and ultimately reducing food waste without casting blame or creating shame won the People’s Choice Award after captivating the attention of the more than 400 investors, entrepreneurs and investors gathered at the event, as well as many more viewing on Facebook Live.
Based on a fast-paced 90 second pitch, the highly commended award went to Wasteless – a startup that uses machine learning and real-time tracking to help brick and mortar retailers offer customers discounts based on products’ expiration date with a goal of encouraging purchases before products spoil so as to reduce food waste and increase revenue.
Food waste reduction was a common theme beyond the winner’s circle with several companies pitching innovation approaches to the problem, including Ingest.ai, Afresh Technologies, RIND Snacks and Pulp Pantry.
Ingest.ai uses a “wicked smart machine learning algorithm” to help restaurants quickly review sales, staffing, delivery, reservations and inventory on one dashboard so that they can reduce food waste, improve supply chain functionality and hone logistics.
Afresh Technologies also uses artificial intelligence to help retailers cut waste upwards of 50%, reduce out-of-stocks by 80% and improve inventory turns by three times. It does this by tracking a million data points to provide accurate, item level predictions of future demand while also accounting for supply chain constraints and optimizing margins.
By keeping the peel on its packaged dried fruit, RIND Snacks helps reduce waste while also improving the nutritional value and fiber content of its products, which also are free from preservatives and additives.
Pulp Pantry turns one company’s ‘trash’ into a treasured CPG by taking “low-cost, high value resources,” such as juice pulp, and making better-for-you twists on pantry staples, such as cereal. The brand currently offers three flavors: Cinnamon Toast, Vanilla & Sea Salt, and Cacao Crunch.
Another mega-trend at FoodBytes! was vegetable-forward and plant-based products that are nutritious and sustainable, such as Ocean Hugger Foods, which uses tomatoes, eggplant and other vegetables to mimic the taste, texture and appearance of fish for the production of high-end ‘sushi’ at the food service level.
Through a patented process, the entrepreneurs behind Aragen have found a way to create plant-based ‘fish oil,’ bioactive lipids and therapeutic proteins from the self-pollinating oil seed crop Camelina Sativa, which can add nutritional value to food for humans, poultry and fish.
Known for its nitro infused cold brew canned with unexpected flavors, such as blood orange or lemon, as well as more traditional plain black, Rise Brewing Co. taps into the plant-based trend with the launch of its new oatmilk lattes, which taste creamy but are still shelf stable.
Finer Flavors’ Frecious whipped vegetable dips and spreads make eating whole vegetables easy by blending them “activated nuts,” lemon juice and sea salt in pouches that use high pressure processing to lock in nutrition and flavor.
Producing food sustainably was another major theme at FoodBytes! that was emphasized in several pitches, including One For Neptune, which makes seafood jerky from undervalued and underused white fish that is traceable to small-scale US West Coast fisheries.
Food technology company Spinn offers the convenience of pods for brewing coffee, but without the packaging. The tech-enabled brewer spins coffee beans on-demand for a quality beverage that also emphasizes sustainability.
While pesticides have effectively helped boost production by curbing unwanted pests, they are also are taking a toll on soil health – a problem that Pheronym addresses by using pheromones from microscopic nematodes to control pests in an eco-friendly fashion.
With animal welfare a top consumer concern, Dropnostix helps dairy farmers better care for their cows with a rumen sensor that monitors the animals health to spot disease sooner and reduce annual losses.
Packaging is not always avoidable, and so when it is necessary why not make it work double duty? Water.IO is an “Internet of packaging platform” that adds value to packaging by making containers and caps ‘smart,’ and able to track usage, remind consumers to use a product and monitor end of life.
Busy new mothers struggling to produce sufficient milk for the babies don’t always have time for endless cups of tea with ingredients show to boost production, which is why Sweetie Pie Organics is offering on-the-go shakes and bars designed to enhance lactation.
Whether as a shot or powder, BrainJuice promises to boost consumers motivation, memory and mood ‘in seconds’ without caffeine by blending B vitamins, green tea extract, Acerola cherry extract, acai berry powder and other superfoods.