Investing & fundraising

Gavan Technologies raises $8m to commercialize Fatrix

Israeli food tech company Gavan Technologies is bolstering the commercialization of its plant-based fat Fatrix with an influx of venture capital funding.

Mondelez’s SnackFutures Ventures invests in Celleste Bio to scale cell-culture cocoa production

Cocoa-tech startup Celleste Bio may soon produce the same amount of cocoa butter from just one to two beans as traditional production methods currently produce from four tons of cocoa pods, thanks in part to an infusion of $4.5 million in seed funding...

Apothékary secures additional funding, bridges beverage, beauty categories

Apothékary continues its expansion in the wellness space, securing additional funding for its Series A round from global Japanese beauty brand Shiseido and launching on Ulta.com as the retailer’s first alcohol alternative product.

Donut brand Drumroll adds fuel to ‘rocket ship year’ with $3m in capital from 7 Mile Brands

Drumroll Snacks received $3 million in capital from CPG incubator 7 Mile Brands to fuel growth after a "rocket ship year," as the better-for-you sweet baked goods brand gears up to go after large national accounts like Whole Foods and Sprouts, the two...

11 startups disrupting dairy across categories from the farm to store shelf

Dairy’s nutrient density and decadent eating experience create a powerful canvas for startups innovating across categories to offer better-for-you moments of permissible indulgence while simultaneously supporting the health of consumers, the planet and...

Soup-to-Nuts Podcast

Steward’s novel lending model reinforces supply chains for regenerative, regionally produced ingredients and products consumers want

Consumer interest in products made with ingredients from regional smallholder farmers or those practicing regenerative agriculture is on the rise, but CPG companies and suppliers are struggling to meet their demand in part because most farmers are unable...

ADM on the farm: Building regenerative agriculture builds business opportunities

Regenerative agriculture is emerging as a powerful marketing concept with recent research by ingredient supplier ADM revealing most consumers familiar with the tenets are more likely to trust and buy from brands that support the practice.

Lil Bucks raises $3m in Series A funding to fuel retail growth, product innovation

Sprouted buckwheat food brand Lil Bucks secured $3 million in Series A funding in a round led by Proterra Investment Partners, following measures to extend its runway amid continued capital-raising challenges, company founder and CEO Emily Griffith told...

What are the barriers to innovation in food and beverage?

Many of food and beverage's greatest innovations are born from from start-ups. But why is innovation on a decline and what's the future of food and drink NPD?

Tyson Foods' ‘multi-protein, multi-channel strategy’ pays off, amid consumers trading down

Tyson Foods touted the benefits of its multi-pronged protein strategy at the 2024 Barclays Global Consumer Staples Conference as the company continues shuffling its manufacturing capacity, closing and opening facilities.

David protein bars secure $10M backing, led by CPG veterans emphasizing nutrition over diet trends

Protein bar brand David’s founders, including RXBAR Co-founder Peter Rahal, attracted investors with their industry experience and an emphasis on protein as a science-backed, enduring macronutrient over fleeting diet trends, Rahal told FoodNavigator-USA

Startup Spotlight

Mission MightyMe’s snack puffs hit Target shelves, as brand aims ‘to drastically reduce the rate of nut allergies’

Children's snack brand Mission MightyMe is taking its first big step beyond ecommerce, launching in select Target stores, after raising $2.3 million earlier in the year to fuel growth and raise awareness on reducing peanut allergies by introducing the...

The Better Meat Co. receives $1.4m federal grant to commercialize mycoprotein Rhiza

Bioscience company The Better Meat Co. is scaling up production of its allergen-free mycoprotein Rhiza with the help of a recent US Department of Defense (DoD) grant, as the company prepares its next round of funding.

Snack attack: Is Mars’ $35.9bn bet on Kellanova the key to dominating the healthier snacks market?

The mega payout by Mars, Inc. for Kellanova is driven by the candy giant’s desire to expand its footprint in the fast-growing market for healthier snacks, which is underpinned by consumer preference that is shifting away from traditional packaged foods...

Mars to acquire Kellanova for $35.9bn in snack push, as M&A activity set to takeoff

Following media reports, candy and snack maker Mars is set to acquire Kellanova — the parent company of Pringles, Cheez-It, Pop-Tarts and more — in an all-cash deal worth $35.9 billion, marking one of the biggest deals in food and beverage CPG history...

InvestBev moves into non-alc category, invests in Sèchey

Private equity firm InvestBev’s is making its first foray into the non-alcoholic category with an investment in Sèchey, a zero-proof wine, beer and spirits brand and marketplace.

Asentia navigates the road ahead: Challenges & opportunities in the alt protein sector

⁠The alternative protein industry offers immense opportunities for innovation and market expansion, but successfully navigating this complex landscape requires a balance of advanced R&D, strategic partnerships and a deep understanding of consumer...

[Podcast] Founders' Fundamentals: Greenwich Capital Group on negotiating everything from slotting fees to successful exits

To create a sustainable business, early-stage CPG companies must be prudent in how they spend their limited capital — being cautious on how much they pay in slotting fees — and ensure they maintain authenticity and their disruptor mentality when hitting...

Future Food-Tech Alternative Proteins 2024

Lever VC’s investment strategy in alternative proteins focuses on cost-reduction, tech gains & partnerships

Lever VC is zeroing in on innovative companies within the alternative protein space, backing those with strong technological potential and the ability to scale, Nick Cooney, founder and managing partner, Lever VC, told FoodNavigator-USA during Future...

Advancing the alternative protein sector requires significant public, private investment, GFI says

The US must significantly increase public and private investment in alternative proteins, including cultivated meat, to maintain global competitiveness, according to the Good Food Institute's (GFI) State of Policy report and GFI's Policy Specialist,...

Danone and Microsoft to collaborate on AI to boost operational efficiency

In order to improve its operational efficiency, dairy major Danone has enlisted Microsoft. The two companies will collaborate to implement AI in Danone’s systems.

Mars could acquire Kellanova as part of portfolio overhaul, potentially signaling larger industry rebound in M&A activity

Family-held candy maker Mars Inc. could acquire snack giant Kellanova, according to media reports over the weekend, which, if accurate, could signal the beginning of a long-awaited return to M&A activity in the food and beverage industry following a...

Morinaga America revs up HI-CHEW production, opens second facility

Confection manufacturer Morinaga America, Inc., invested $130 million to construct its Mebane, N.C.-based facility to produce its flagship brand HI-CHEW, which has grown 20% year-over-year in the non-chocolate category over the past seven years, Teruhiro...

Siddhi Capital raises $135m for Fund II with 2:1 investment focus on CPG brands, food-tech companies

Siddhi Capital raised $135 million for its second fund as the venture capital (VC) firm searches for growth-stage CPG and food-tech companies amid continuing funding challenges for the larger food and beverage industry.

Sojo Industries receives Series A funding, partners with Schreiber Foods

Food and beverage automation company Sojo Industries secures $10 million in Series A funding to significantly improve production and supply chain management and lands strategic partnership with Schreiber Foods.

IFT FIRST 2024

American Egg Board announces winners of 2024 product innovation competition, discusses supply-chain resiliency at IFT FIRST

The American Egg Board revealed the winners of its annual Product Development Competition, as the organization shared how farmers are responding to supply chain challenges brought on by avian flu at IFT FIRST in Chicago last week.

IFT FIRST

Onego Bio secures $15.2m from EIC to scale animal-free egg protein, meet regulatory requirements

With an infusion of $15.2 million in funding from the European Innovation Council announced yesterday following a recent $40 million Series A round in April, precision fermentation startup Onego Bio says it is “moving at full speed” to meet regulatory...

Startup Spotlight

Crunchy Hydration finds sweet success by skipping sugar and its low-, no-calorie counterparts, underscoring consumer demand for flavorful but not sweet options

The early retail success of functional beverage startup Crunchy Hydration shows sugar – or its low- and no-calorie counterparts – are not a necessary ingredient for success in a category that is laden with sweeteners used to mask the sometimes bitter or...

Hero Bread raises $21m to fuel retail expansion of better-for-you baked goods

Hero Bread is using $21 million in series B funding to reinforce its retail footprint as more consumers demand more nutritious and healthier baked goods, including through direct-to-consumer (DTC) channels, company CEO YuChiang Cheng told FoodNavigator-USA.

Soup-To-Nuts Podcast: How is the M&A landscape evolving for food & beverage?

An end may be in sight for the capital crunch that has slowed innovation, growth and M&A activity in the food and beverage space in recent years, according to one investment insider, but she warns the timeline is longer for closing deals and the bar is...

USDA: ‘We have got to make big bets’ on nutrition security, climate change & equity solutions

Through a global challenge offering up to $2 million in prize funding announced this week, the US Department of Agriculture and the Foundation for Food & Agriculture Research (FFAR) want to place “big bets” on high-risk, but high-reward innovations that...

'We are genuinely looking for technology': Investment drivers in plant-based meat and dairy

The future of plant-based hangs in the balance. There are still investors who want in; but what are they looking for?

Prolific Machines raises $55m in Series B1 funding to shine light on optogenetics’ potential in biotech

Biomanufacturing technology provider Prolific Machines raised $55 million in Series B1 funding, which will go to support the commercialization of its light-based biotech platform, company Co-founder and CEO Deniz Kent told FoodNavigator-USA.

Future Food Tech

Tapping into the $2b+ mycelium market to improve alternative protein innovation

Mycelium has a long history in food, but its potential for today’s consumer packaged foods (CPG) industry highlights the need for increased R&D in resourceful and responsible food production that helps address the challenges of a growing global...

Cultivated meat’s consumer acceptance problem: Many Americans unwilling to try cultured protein, perceive it as less healthy, less tasty, according to Purdue University survey

Recent survey data from Purdue University that found one-third of Americans are unwilling to try cultivated chicken or cow prepared in a restaurant underscores the extent of the category’s "consumer acceptance problem,” despite efforts by industry...

PeakBridge raises $187m for Growth Fund II, invests in protein, cocoa, dairy alternatives

This week, food tech venture capital (VC) firm PeakBridge closed its Growth Fund II after raising $187m – surpassing its target — and invested in meat, dairy, and cocoa alternatives as part of its second fund, Nadav Berger, the company’s founder and...

Startup Spotlight

Blackbird Foods launches crowdfunding campaign, explores plant-based opportunity in school lunches

Plant-based comfort food brand Blackbird Foods launched a crowdfunding campaign on Start Engine to grow its business, including a bigger push into school lunch programs, company CEO Emanuel Storch told FoodNavigator-USA in a Startup Spotlight interview.

What is next for alternative proteins? Strategies for engaging with consumers, enhancing nutrition and moving beyond nuggets, patties and sausage

The FoodNavigator-USA team is heading to Chicago next month to Future Food-Tech’s Alternative Proteins summit, where we will help lead discussions around overcoming obstacles facing plant-based and cultivated meat and seafood and help identify areas of...

Voyage Foods CEO on where brand goes after $52m raise: 'Retail products were always really a steppingstone'

Food-tech company Voyage Foods raised $52m in its Series A+ funding round to grow its ingredient business as it prepares to open a second facility later this year.

Meati raises $100m in funding, adds 2,000 retail locations

Mycelium food maker Meati raised more than $100 million in Series C-1 funding "to help meet the growing demand for its products," and support its expansion into 2,000 Kroger Family Stores last month, bringing its retail footprint to more than 6,000...

TruFood Manufacturing, Bar Bakers merge to scale nutritional snacks operations

Recently merged co-manufacturers TruFood Manufacturing and Bar Bakers plan to scale operations to expand access to healthy and nutritious snacks.

Exclusive: FedUp Foods expands manufacturing capabilities with Wilmington plant, prepares to move into cold-brew coffee

Private-label beverage manufacturer FedUp Foods is opening a new facility in Wilmington, N.C. later this summer, which will add cold-brew coffee capabilities, two company executives shared with FoodNavigator-USA.

Pitch perfection: Alt-protein founders share tips for securing funding at Future of Protein Production event

Alt-protein startups that are trying to attract the attention of venture-capital (VC) investors often need to ensure their business pitches focus on how they can capture a market through their product and team, while founders must convey confidence and...

Mondelēz is hungry for snacks innovation: What’s its VC arm looking for?

When Mondelēz International searches externally for savoury snack and confectionery innovation, what kinds of start-ups is it looking for?

Supergut rolls out nationwide in GNC stores as part of GLP-1 nutritional support section

Supergut is expanding nationwide as part of GNC’s new section dedicated to GLP-1 nutritional support, as the brand has quadrupled its sales in the last two quarters due to consumer interest in gut health and products to alleviate symptoms from drugs like...

KEY unlocks potential of ketones in energy-drink category with help of $4m investment

KEY is providing consumers an alternative to sugar-laden energy drinks through ketones, as it seeks to deploy $4m in funding to grow its brand.

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Plant-based 3.0: Industry insiders share strategies for pushing alternative proteins forward

After a challenging few years in which falling sales and units dragged plant-based protein into the trough of disillusionment, stakeholders are finding ways up the other side of the Gartner Hype Cycle by leveraging emerging technologies, novel...

Scaling alt-protein production: What to know about moving from lab to commercial scale

Alt-protein companies scaling their fermentation processes beyond the lab face numerous challenges that require them to think through production processes, raw ingredients, and the design of a manufacturing facility to create a commercially viable product.

Startup Spotlight

Laoban Dumplings merge traditional Chinese flavor, ingredients with convenience

Laoban Dumplings pays homage to traditional Chinese flavors and ingredients that combine convenience, quality and flavor in its line of homemade-style frozen dumplings and an upcoming launch of bao buns explained Patrick Coyne, the company’s co-founder...

Mondelēz’s CoLab Tech accelerator seeks startups with ‘cutting edge technologies of the future’ focused on personalized nutrition, sustainability

Mondelēz International wants to team with early-stage startups through its CoLab Tech program to develop “groundbreaking” technology that can accelerate its Vision 2030 Growth strategy and meet consumer demand for personalized nutrition and products that...