Neat Burger founders

© Neat Burger

Neat Burger Raises $18M as Sales at First US Location Beat Expectations

Plant-based fast food chain Neat Burger has raised $18 million in a Series B round led by private institutional investment firm B-Flexion. Other participants included Formula One driver Lewis Hamilton (a longtime backer), Chimera Capital, and new investors such as Real Madrid goalkeeper Thibaut Courtois. Neat Burger will use the funding to continue expanding its global reach. The news comes after the UK-based chain opened its first permanent US location in Nolita, New York City, last month. Sales so far have beaten expectations, and the store is currently the best performing in the group’s estate due to high levels of repeat purchases. “We see New York as a tastemaker gateway to the US, and by all metrics it has been our most successful launch to …

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Big Ideas Ventures launched its New Protein Fund II

© Big Idea Ventures

Big Idea Ventures Raises Initial Funds for $75M New Protein Fund II

Food tech investor Big Idea Ventures (BIV) has announced a first close for its New Protein Fund, which aims to raise $75 million within the next 12 months to support new food tech and protein innovators. This new raise brings its total assets under management to over $100 million.  Investors in the initial funding round included previous New Protein Fund I backers AAK (a Dutch plant-based oil ingredients firm) and Bühler, a solutions partner for the food processing industry. Big Idea Ventures claims to be the first global fund dedicated to the development and expansion of alt proteins, as well as the most active investor in the food tech category. Its NPF I portfolio includes French startup Gourmey, which raised €48 million in Series A funding in 2022, and …

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Amschela

© Amschela

Amschela Launches Crowdfunder for Multipurpose Bag Made From MIRUM Alt Leather

Amschela, a sustainable luxury handbag brand based in the UK, has launched a crowdfunding campaign for its new AIRIUM bag. AIRIUM is made from MIRUM, a plastic-free vegan leather alternative produced by Natural Fiber Welding. The multipurpose “6 in 1” bag can be worn six different ways — from handheld to a clutch or a crossbody. The bag will be manufactured by Veshin Factory in China, which produces sustainable accessories made from vegan materials. The facility also has a commitment to treating its workers ethically, in an industry notorious for its human rights abuses. Vegan brand Amschela started out by producing conventional leather accessories then transitioned to a vegan brand during the pandemic after learning about the environmental impact of the leather industry. The company …

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Vegan jerky and bacon bits in cart

©All Y'alls Foods

All Y’alls Foods Secures First Investment to Scale Up Plant-Based Jerky

Plant-based jerky brand All Y’alls Foods announces it has received an investment from Dr. Rizwan H. Bukhari, MD as part of a $1 million Simple Agreement for Future Equity (SAFE) note raise. Dr. Bukhari, a vascular surgeon, will also serve as the brand’s medical adviser.  According to All Y’alls Foods, it intends to use the investment to accelerate its growth.  “I am excited to join forces by investing in and becoming All Y’alls Foods medical adviser to help promote and develop healthier alternatives to animal-based products,” stated Dr. Bukhari, who is board certified in lifestyle medicine and owns the North Texas Vascular Center. Based in Texas, All Y’alls sells a line of meat-free jerky snacks and Big Crunchy Bacony Bits. In 2022, the company reported …

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Gluten-Free Vegan Mac and Cheese

©Eat Howl Inc.

Penguin Natural Foods Acquires Howl, Will Launch New Lineup of Plant-Based Mac and Cheeses

US plant-based foods company Eat Howl Inc. announces it is selling the Howl brand to Penguin Natural Foods, a leading manufacturer of innovative packaged foods. Eat Howl founders Chef Craig Thornton and Fred Michaels will stay on as advisors. Penguin also plans to release a new and improved lineup of Howl’s plant-based mac and cheese beginning in Summer 2023.  Through the acquisition, Penguin – which already manages most of Howl’s manufacturing – will take over the entire production process, including the production of the latter’s cashew sauce. According to Howl, this will improve the brand’s consistency and quality while accelerating innovation, and allow Penguin to sell private-label versions of Howl.  “We are excited to grow Howl into the premier plant-based brand that we know it …

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Current Plant-Based Seafood

©Current Foods

Wicked Kitchen Acquires Alt-Seafood Brand Current Foods to Expand Global Food Service

Global plant-based foods brand Wicked Kitchen announces it has acquired US alt-seafood startup Current Foods, adding an “exciting growth segment” to Wicked’s portfolio while reflecting the need for consolidation in the plant-based industry, the company states. The all-stock transaction will also strengthen Wicked’s food service capabilities by providing Current Foods’ plant-based, sushi-grade tuna and salmon.  The move marks Wicked’s second merger within a year, following its acquisition of alt-seafood CPG brand Good Catch in 2022. According to Wicked Kitchen CEO Pete Speranza, the merger with Current Foods will bring Wicked new global opportunities, channels and consumers.  “Current Foods is a perfect match for Wicked as a global-impact brand with the same mission and complementary products,” said Speranza. “With this deal and the Good Catch acquisition, we’re …

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Better Nature

© Better Nature

Better Nature Launches £3M Funding Round, Secures First UK Supermarket Listing at Tesco

UK tempeh producer Better Nature has launched a £3 million Series A round to help it expand into retailers and food service providers throughout the UK and Europe. The news comes as the brand prepares to launch at over 400 Tesco stores on June 1, marking its first UK supermarket listing. The tempeh will then roll out at another major supermarket in July. The Series A round will be led by institutional investors, angels, and value-add strategic investors. It follows a £1.6 million seed round in 2021 and a £700,000 seed plus round late last year. Better Nature currently has listings at Selfridges, Mindful Chef, Planet Organic and allplants, along with REWE in Germany. The brand plans to expand into more European countries and the …

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The VERY Food Co. develops animal-free functional ingredients for bakery and pastry

© The VERY Food Co.

The VERY Food Co. Seeks €1M to Remove Animal Ingredients from French Foods

The VERY Food Co., a “very” French startup developing and marketing functional animal-free egg and dairy ingredients at scale for the bakery and pastry industries, has announced a €1 million pre-seed financing round. The B2B company launched commercially six months ago and is seeking for capital to structure the company and finalize its first commercial contracts, which are currently in the testing phase with manufacturers. Founded in 2022 by CEO Arnaud Delacour, and Oscar Castellani, scientific and technical director; The VERY Food Co. aims to help the world transition towards a more sustainable, resilient, and delicious food system. It has a pre-money valuation of €6 million and €800 thousand of non-dilutive financing secured with the participation of Big Idea Ventures. “If we want to change …

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Premium plant-based Mozzarella cheese

©Vertage

Fresh Del Monte and Vertage Partner to Scale Healthy Foods, Including Premium Plant-Based Cheese

Fresh Del Monte, a leading global producer of fruits and vegetables, announces it is partnering with US chef-created food company Vertage to help scale the production and logistics of healthy plant-based foods, including dairy-free cheese.  Fresh Del Monte, which also invested in Vertage for an undisclosed amount, says the strategic partnership will provide commercial benefits for both companies.  As a new brand focused on making “uncompromising” products without animals, Vertage’s offerings include a line of premium dairy-free cheeses. Through the partnership, Fresh Del Monte will support Vertage’s growth by providing access to its production facilities, technology and logistics network.  In addition, Fresh Del Monte’s inland logistics company, which includes Tricont Trucking and Tricont Logistics, will give Vertage the ability to expand distribution by utilizing the …

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WNWN's caramel bar

© WNWN

European Climate Food Tech Ecosystem Saw Unprecedented VC Investment in 2022

FoodLabs‘ new report, released in partnership with Dealroom, a global data provider, reveals that European food & agtech startups raised $1.9 billion in VC funding in 2022 — the most active year ever — showing a 20% increase from 2021. The Food for Climate report offers a comprehensive market analysis of sustainable investment trends in the climate tech food ecosystem. It has identified over 340 startups across 16 segments working for sustainable food system transition. The upcoming decade is crucial The environmental footprint of our food system is enormous, explains FoodLabs. Agriculture is responsible for massive water use, greenhouse gas emissions, and land use.  Furthermore, the food industry faces unprecedented challenges due to climate change and global population growth.  As global warming threatens food security, the food …

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Kim Le founder Prime Roots

Image courtesy of Prime Roots

Prime Roots’ Total Funding Reaches $50M Following Series B Round

Prime Roots, a producer of koji mycelium-based deli meats, has secured $30 million in a Series B round. The raise takes the company’s total funding to $50 million. True Ventures, Pangaea Ventures, SOSV/IndieBio, and Monde Nissin (the parent company of Quorn) all participated in the round, among others. Prime Roots will use the funding to scale and expand to deli counters and restaurants nationwide. Prime Roots claims to be able to identically replicate the microscopic texture of meat through proprietary fermentation and food science technology. The company offers a range of alternatives to deli meats, including cracked pepper turkey, black forest ham, hickory bacon, salami, and pepperoni — all developed alongside acclaimed chefs. The products can be made in just three days, compared to months …

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© Manna

56-Year-Old Vegan Restaurant Frequented by Paul McCartney Seeks Funding for Expansion

Manna, a vegan restaurant that first opened in London in 1967, is seeking funding to expand its brand and potentially open locations in other UK cities. After starting life as a vegetarian restaurant, Manna is now fully plant-based, serving wholesome, seasonal, freshly made dishes. It aims to cater to all allergies and dietary requirements, which includes providing kosher options. Historically, the restaurant has been frequented by celebrities such as Paul McCartney. Manna is a huge supporter of animal welfare and protection, hosting a variety of charity and fundraising events. In September, a fundraising dinner for All Dogs Matter was held at the restaurant, featuring actor Peter Egan (the charity’s patron). The animal rights groups North London Fox Sabs, Animal Equality, and Animal Rising have also …

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revyve's healthy foods made with BSY proteins

© revyve

Netherlands: revyve Secures €8M For Upcycled Ingredients From Beer Industry

Cosun and Oost NL last week invested €8 million in Netherlands foodtech scale-up revyve to support the development and production of sustainable ingredients from food industry byproducts. revyve uses a patented technology to produce protein and fiber from brewer’s yeast, a byproduct of the brewery industry. These upcycled ingredients have a low carbon footprint and can replace animal proteins and E-numbers (such as methylcellulose). Because of their great versatility and high functionality, these ingredients can be used in a wide variety of food products, including meat alternatives, pastas, baked goods, sauces, and snacks. Revyve states it is working to increase production to more than 100 tons per year. At revyve, a process has been developed that enables the production of functional ingredients from brewer’s yeast. …

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Beyond Meat plant-based chicken burger

© Beyond Meat

Beyond Meat to Raise $200M in Equity Offering as Q1 Results Surpass Expectations

Beyond Meat has reported that it is seeking to raise up to $200 million in an equity offering for “general corporate and working capital purposes”. The sales could be made at any time, either over the counter or negotiated privately. Goldman Sachs will be the sales agent. The news comes after the company posted better-than-expected results for the first quarter of 2023, with a smaller loss and greater revenue than predicted by Wall Street. Net loss narrowed to $59 million, while net revenue was $92.2 million — $1.4 million greater than expected. Following the publication of the results, shares in Beyond rose by 11% in extended trading before paring gains. Stronger revenue growth is now expected for the remainder of the year; Beyond’s food service …

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Fermify secures $5 million for its animal-free caseins to make vegan cheese

Image courtesy of Fermify

Fermify Secures $5M for Mission to Remove Cows From Dairy by 2027

In a female-led seed funding round, Austrian biotech company Fermify has secured $5 million for its revolutionary animal-free production system that allows the removal of cows from cheese production. Founded in November 2021 by Eva Sommer and Christoph Herwig, Fermify has developed a fully automated platform to produce precision fermentation-derived casein proteins to make animal-free cheese at scale. Fermify aims to facilitate the “full disruption of cows” by 2027 by enabling the production of real cheese without the cruelty and environmental destruction caused by the dairy industry. Female-led investors Dörte Hirschberg from Article 9 climate tech fund Climentum Capital led the round. Co-investors include Bettine Schmitz from Auxxo Female Catalyst Fund and Nina Wöss from Fund F. Clima Now, Satgana Ventures, Triple Impact Ventures, and existing investors, …

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