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The Kraft Heinz Not Company Launches Plant-Based Chipotle Mayo and Mac & Cheese Cups

June 9, 2025

The Kraft Heinz Not Company has announced the launch of two new plant-based products — NotMayo Chipotle Squeeze and Kraft NotMac & Cheese Cups. NotMayo Chipotle Squeeze aims to meet the growing demand for spicy condiments; chipotle is reportedly a top-three flavor in the category at present.* Designed for sandwiches, French fries, burgers, and more, the mayo is vegan-friendly and kosher. It is available in a convenient squeeze bottle, retailing at $4.99. Kraft NotMac & Cheese Cups are claimed to be the only plant-based, microwaveable mac & cheese cups on the market today. They have been created for younger consumers seeking convenient vegan options, and are said to have the same taste as classic Kraft Easy Mac. The NotMac & Cheese Cups can be prepared …

Investments & Finance

Chipotle Doubles Cultivate Next Fund to $100M to Drive Sustainability and Innovation in Food Tech

January 15, 2025

Chipotle Mexican Grill (NYSE: CMG) has announced a $50 million expansion of its Cultivate Next venture fund, increasing the total pool to $100 million. The fund, established in 2022 with an initial $50 million, focuses on early-stage investments in companies developing innovations in agriculture, supply chains, automation, and restaurant technology. The initiative is part of Chipotle’s strategy to accelerate growth and enhance operations, with the company aiming to increase its restaurant count to 7,000 locations across North America. According to Curt Garner, Chipotle’s chief customer and technology officer, “Our decision to double our commitment to our Cultivate Next venture fund is a clear indicator that we are investing in the right companies that we can learn from and utilize to improve the human experience of …

Investments & Acquisitions

Above Food Acquires Spanish 3D Printing Pioneer Foody’s, Bolstering FoodTech Capabilities Pre IPO

July 1, 2024

Canadian regenerative ingredient company Above Food Corp. has announced its acquisition of Brotalia, S.L., a Spanish company specializing in innovative food technologies. Brotalia, operating under the commercial name Foody’s, was previously a subsidiary of Spain-based Grupo Empresarial Enhol, S.L. Founded in 2017, Brotalia focuses on developing, producing, and marketing sustainable and nutritious food products. The company is notable for its advanced research in dry fermentation technologies, which enhance nutrient density by upcycling ingredients and by-products into high-value products. The acquisition excludes Brotalia’s hydroponic herb production business, Foodys Agro, which remains under the ownership of Grupo Enhol and Agorreta. Foody’s 3D printing technology Foody’s offers a range of plant-based products, including burgers, meatballs, nuggets, fish-style milanesa, and foie gras. The company has also led the commercialization …

Plantbased Business Hour

What You Need To Know Before You IPO: George Khalife of Toronto Stock Exchange

March 27, 2024

George Khalife, VP of US Capital Formation on the Toronto Stock Exchange (TSX) at TMX Group joins Elysabeth on The Plantbased Business Hour With Elysabeth Alfano to discuss taking Plant-based Innovation brands public on the exchange. Here, they break down what you need to know before you IPO. Specifically, they discuss: What is the TSX history with taking plant-based brands public? What have been the TSX successes and trouble spots with that? What is your view on taking plant-based brands public on TSX going forward? What is your view on the sector as a whole: past, present and future? What do companies need to know before they IPO? Below is a highlight clip and transcription from their long-form conversation. Podcast link here. Display “George Khalife …

NFL players invest in robot-powered meat-free restaurant

Investments & Acquisitions

NFL Stars Invest in Chipotle Founder’s Robot-Powered Meat-Free Restaurant

January 30, 2024

Kernel, the robot-powered meat-free restaurant concept created by Chipotle founder Steve Ells, has received funding from two star NFL players. Chicago Bears quarterback Justin Fields (who is vegan) and New York Giants quarterback Daniel Jones have both invested in the company, receiving equity stakes in exchange. The first Kernel restaurant is set to open in the Flatiron District of New York City on February 12, at 315 Park Ave South. It will initially focus on lunch, opening from 11:30 am to 2:30 pm. Kernel previously raised $36 million in Series A funding in August; participants included Raga Partners, Willoughby Capital, Rethink Food, and Virtru. Improved efficiency Kernel aims to address inefficiencies in food service by using a semi-automated operational process, featuring a robotic arm to …

Products & Launches

Tofurky Introduces Chorizo and Mango Chipotle Sausages in Face of Recent Anti-Vegan Press

December 8, 2023

Tofurky, a legacy brand pioneering plant-based meat since 1995, announces the expansion of its popular line of sausages with the introduction of two new flavors: Chorizo and Mango Chipotle. The latest additions increase the company’s sausage lineup from three to five, complementing its range of plant-based deli slices, tempeh, chick’n, and roasts. The new Chorizo variant features a bold, Mexican-style flavor profile, enriched with a blend of aromatic herbs and spices, designed to pair with classic Mexican dishes like beans, rice, tortillas, and nachos, while the Mango Chipotle combines ripe mango and chipotle pepper for a sweet, smoky, and spicy experience. The expansion of Tofurky’s sausage line is part of the company’s strategic move to cater to the evolving tastes and preferences of consumers, which …

Company News

Huel Expands into German Retail, Bats Off IPO Rumours

November 22, 2023November 21, 2023

UK meal replacement brand Huel, whose founder Julian Hearn this week downplayed rumours of an IPO following a surge in sales, is to launch its “Smart Food” products onto the retail market in Germany. The brand famous for its plant-based nutrition drinks was valued at $560M in 2022 amid a $24 million investment round which included the actor Idris Elba, and reported sales of 270 million meals. Rumours of the company’s potential listing have circulated since 2021 and this week Hearn has noted to press that such a move would not be imminent due to current market conditions, despite the recent sales surge. German retail launch In Germany, the market for smart food has grown by around 200% to around 94 million euros in the …

Food Service

Chipotle Founder to Open Meat-Free Concept “Kernel” Powered by Robots

November 13, 2023

Chipotle founder and ex-CEO Steve Ells is venturing back into the food industry with a new meat-free concept called Kernal. Set to open its first location in Manhattan early next year, Kernel will exclusively serve a meat-free, fast-casual menu, all crafted with the help of robotic technology. The restaurant model features a streamlined operational process where a team of only three employees is needed to run each location. Customer orders are transmitted to the kitchen, where a robotic arm handles the food preparation and places pans in the oven. A programmed toaster warms up buns while conveyor belts move dishes through the kitchen. Employees then add any final touches, package the orders, and pop them into cubbies for the customers to collect. Ells highlighted to …

Mans Ullerstam. © Kale United

Fundraising

Kale United Aims to Raise 12M SEK in Preparation for IPO

November 9, 2023

Leading Nordic plant-based investor Kale United has started a new funding round with the goal of raising 12 million SEK (€1.03 million). The round will be active until December 1, with a third of shares already booked. It comes as Kale United prepares for an IPO in Q2 2025. Some of the capital raised will be used to launch a fund for sustainable investments, which will cater to large institutional investors. The fund will also provide capital to Kale United’s portfolio companies, increasing the investor’s assets under management by 150 million SEK (€12.9 million). Following the raise, Kale United plans to continue investing in both new and existing portfolio companies. The investor says it foresees high growth for its subsidiary, Kale Foods, which distributes its …

Supplied by Elysabeth Alfano

Stock market

What Happened to the Beyond Meat and Oatly Stocks and What You Need To Know Before Your Company IPOs

September 26, 2023September 25, 2023

Insights from a Good Food Conference roundtable: what happened to the Beyond Meat and Oatly stocks and what you need to know before your company IPOs. At the Good Food Conference last week, a roundtable discussion took place on how the public markets inform the private markets and what has happened to the Beyond Meat and Oatly stocks. So much has changed since the heyday of the plant-based foods boom of 2019, 2020, and the first half of 2021. The public markets took a downturn in the last half of 2021, and this, in turn, caused a tightening in venture capital by 2022 as the private markets follow the public markets usually by around six months. It takes a while for the trickle-down of the …

©Zero Acre Farms

Investments & Finance

Chipotle Makes Investment in Cultured Oil Innovator Zero Acre Farms

March 27, 2023March 23, 2023

Fast casual chain Chipotle Mexican Grill announces it is investing in cultured oil startup Zero Acre Farms through its venture fund, Cultivate Next. The investment, made for an undisclosed sum, is part of a series of initiatives Chipotle is taking to help it further its socially responsible mission and meet ESG goals. Zero Acre Farms is a company focused on ending the food industry’s dependence on vegetable oils by offering healthier, more sustainable oils and fats. According to Chipotle, the world’s vast production of vegetable oils every year contributes heavily to global deforestation and carbon emissions. Zero Acres says it has created a new category of healthier, cultured oils using environmentally-friendly fermentation techniques. Market debut In July 2022, Zero Acre launched its first commercial product …

Stock market

Number of IPOs Worldwide Dropped by Almost Half Throughout 2022

January 17, 2023

Balance for 2022 as a whole: the number of IPOs in 2022 falls by 45 percent compared to the record year 2021, volume by 61 percent / 50 percent fewer IPOs in the fourth quarter, issue volume shrinks by 73 percent. These are the results of the current IPO barometer of the audit and consulting firm EY. Companies continued to hold back on IPOs towards the end of the year: a total of 334 companies worldwide took the plunge in the fourth quarter – 50 percent fewer than in the fourth quarter of the record year 2021. The issue volume fell by 73 percent to 31.9 billion US dollars. The picture is similar for the year as a whole: the number of IPOs worldwide fell …

Food Service

OmniPork & OmniSeafood Expand to 500+ UK Restaurants for Veganuary

January 9, 2023

Hong Kong-based OmniFoods is expanding its award-winning plant-based OmniPork and OmniSeafood to over 500 restaurant outlets across the UK. In London, renowned Chinese restaurant Din Tai Fung is offering OmniCrab cakes as an appetiser, while street food specialist Sugoi Japan has launched Vegan Tonkotsu Ramen with OMNI Luncheon. Whitley-based fish and chip shop Fisherman’s Bay (one of the top 20 in the UK) now offers the OMNI Golden Fillet, while vegan diner OOWEE is serving the OMNI Ocean Burger in Bristol and Brighton. In Manchester, Hong Kong-style eatery 1998 Cafe has launched Braised Eggplant with OMNI Mince, while bakery A Little Sweet is offering the OMNI Luncheon Egg Crispy Burger. Welsh vegan pub and steakhouse The Queen Inn is featuring OmniSeafood in its brand new …

Karim Pichara & Matias Muchnick © NotCo

Fundraising

NotCo Raises $70M to Catapult New B2B Platform Ahead of IPO

December 12, 2022December 12, 2022

NotCo announces it has closed $70M in Series D1 funding to “catapult” a new B2B unit and accelerate the transformation of the industry, with Forbes suggesting today that the Chilean unicorn is “actively preparing for an IPO likely in 2025”. “These partnerships will help diversify and accelerate our impact while scaling the accessibility of truly delicious plant-based options to further propel the industry forward” The new platform will enable other CPG brands, ingredient suppliers and tech providers to leverage NotCo’s AI platform “Giuseppe” for their own innovations, while NotCo will continue to operate its branded business, NotCo Food, offering products like NotMilk™, NotBurger™ and NotChicken™ through both retail and food service across the US. Kraft Heinz Not Company The news comes three days after the …

Products & Launches

Meatless Farm Launches Vegan Chipolatas and Chickenless Roast for Festive Season

September 28, 2022

As the festive season approaches, UK alt meat brand Meatless Farm announces the launch of new plant-based chipolatas and a chickenless roasting joint. Combining pea protein with parsley and sage crumb, the Chickenless Roast serves four and is said to be ideal for a Sunday roast or Christmas dinner. The roast can be prepared in 35 minutes and is both soy-free and low in saturated fat. The chipolatas will replace Meatless Farm’s existing sausages, targeting consumers who want to try something new. They are high in fibre, gluten-free, and made from pea protein. Meatless Farm whole cuts The new chicken-style roast is not the first plant-based whole cut to be offered by Meatless Farm. In May, the brand launched vegan steaks, and last year it …

Products & Launches

Fillipo Berio’s Tofu-Based Vegan Pestos Arrive in the USA

September 22, 2022

Filippo Berio, a 155-year-old Italian producer of olive oil and pesto, introduces two vegan pestos to the US market, following a successful UK launch which took place this July. The pestos, which are both plant-based and gluten-free, debut in Basil and Sundried Tomato flavors and feature tofu as a cheese replacement. Additionally, the products are certified by The Vegan Society, allowing for greater consumer confidence. The brand’s product portfolio is available in over 75 countries. In the United States, Filippo Berio is marketed by Filippo Berio USA, a wholly owned subsidiary of the Salov Group, based in Lucca, Italy. Vegan pestos in USA Filippo Berio states that the expansion into the vegan market takes place in response to consumer demand. “Filippo Berio recognized this …

Products & Launches

Rainbao Dumplings Launches Colorful Asian Buns Filled with Plant-Based OmniPork

August 30, 2022

Rainbao Dumplings, a manufacturer of traditional Xiao Long Bao dumplings, is launching its range of brightly-colored buns filled with plant-based meat and seafood. The brand’s latest recipe, Golden Egg, features a plant-based chorizo made with leading Asian alt-protein brand OmniPork. Rainbao is also showcasing its line at the Western Foodservice and Hospitality Show from Aug. 28th – 30th in LA. Founded by Jim Saunders and Cindy Liu, Rainbao specializes in providing plant-based Xiao Long Bao dumplings to both foodservice partners and retail consumers. “Xiao Long Bao” refers to a traditional type of small Chinese bun prepared in a steam basket. According to Rainbao, their multcolored, plant-forward dumplings offer the authentic taste and texture of conventional beef, pork, chicken and seafood. Available in flavors such as …

©Meati

Investments & Finance

Meati Foods Raises $150M in Series C Round Backed by Chipotle Mexican Grill

July 21, 2022

Meati Foods, the creator of Eat Meati whole-cut meat alternatives, has raised $150M in Series C funding to expand the production and accessibility of the brand’s whole-food, mushroom root proteins. The funds will help complete the company’s 100,000 sq. ft. Mega Ranch in Thornton, CO, which will begin to ship product in late 2022 and is capable of producing tens of millions of pounds of Meati protein each year. Additionally, the raise will support rapid growth through portfolio diversification and creating an omni-channel footprint by the end of 2023. Meati is also planning to break ground on a “Giga Ranch” – a single facility that can produce hundreds of millions of pounds of product annually. Led by Revolution Growth, the round included participation from Chipotle …

Gastronomy & Food Service

OmniFoods and NYC Chefs Celebrate Asian Heritage Month with New OmniPork Dishes

May 13, 2022

In honor of Asian American Pacific Islander (AAPI) Month, plant-based foods brand OmniFoods is joining with chefs across NYC to serve exclusive OmniPork dishes. Available from May 16-31, several AAPI restaurants will participate in the event, with a portion of sales going to benefit the Asian American senior community. Based in Hong Kong, OmniFoods launched OmniPork in the US in 2021 as a realistic alternative to traditional pork. Sold in strips, ground pork and luncheon meat varieties, OmniPork will now be featured in these NYC restaurants for a limited time: Noreetuh: Chinese-American Chef Chung Chow, who previously for Thomas Keller’s Bouchon and Per Se, has created Chow Noodles using OmniPork Strips, black beans and Szechuan chili. May Kaidee: Bangkok-born Chef May Kaidee will serve a …

Fungi, Mushrooms & Mycelium

MycoTechnology Closes $85M Series E, Bringing Total Raise to $200M, in Preparation for IPO?

May 4, 2022March 30, 2022

MycoTechnology, Inc., which describes itself as the world’s leading explorer of mushroom mycelia, announces it has closed a Series E round of $85 million bringing its total to over $200M. Notable returning investors in the round include Tyson Ventures and Maple Leaf Foods. IPO in late 2022? Tyson, Greenleaf Foods, and Kellogg’s were notable participants in the company’s August 2020 Series D, during which an IPO for late 2022 was discussed, with CEO Alan Hahn commenting to FoodNavigator at the time that there were some exciting projects coming up that may “trigger” the opportunity to become publicly listed. In the November of that same year, Mycotechnology was named winner, along with BlueNalu, of Syngenta’s Radicle Protein Challenge, an initiative to invest a total of $1.25 …

The vegconomist-newsletterinformation for decision-makers

The vegconomist-newsletter
information for decision-makers