Salmon Filet

©New School Foods

Canada’s New School Foods Raises $12M to Scale Whole-Cut, Raw Plant-Based Salmon

Plant-based seafood producer New School Foods announces it has raised $12M in seed funding for its proprietary, scalable technology that can produce “raw” whole-cut fish alternatives. Beginning in 2023, the company will launch its whole-cut salmon through a chef-only pilot program in North America.  According to New School, the overall alt-protein industry has not yet fully tackled its greatest opportunity: whole cuts, which represent a majority of meat sales in North America. New School notes that whole cuts involve many complex structural challenges such as texture, connective tissue, muscle fibers, and other macrostructures that exist in animal proteins.  To resolve this, New School Foods CEO Christopher Bryson invested heavily in academic R&D projects for three years with leading food science universities. Through his work, Bryson …


Michroma Natural Food Colorings


Michroma Closes $6.4M in Seed to Commercialize ‘High Performance’ Natural Food Colorings From Mushrooms

Precision fermentation startup Michroma announces it has closed $6.4M in seed financing to fast-track commercialization of its sustainable, mushroom-derived natural food coloring. The round, led by General Mills-backed Supply Chain Capital, will also help the startup expand research and development capabilities and broaden its ingredient platform.  Founded in 2019, Michroma is working to disrupt the global ingredients industry with high-performance colorants made from fungi through precision fermentation. To achieve this, Michroma focuses on creating ‘fungal biofactories’ to produce small molecules, like colors, more efficiently. “We see compelling market and consumer potential for Michroma’s fungal platform to create next-generation natural ingredients, from colorants to flavors, that are healthier and more sustainable while maximizing production efficiency,” said Noramay Cadena, Supply Change Capital’s Managing Director and Michroma Board …


abilion community investment round

© abillion

abillion Launches Community Investment Round After Seeing 20X Growth in Two Years

Sustainability-focused social media and e-commerce platform abillion has announced a community investment round on crowdfunding service Wefunder. The round will give retail investors and abillion’s one million members a chance to invest in the company — something which would normally only be possible following an IPO. Nicholas Cator, who has previously led funding rounds in Oatly, Chewy, and Lazada, will be the lead investor. 500 Global, which led abillion’s seed round, will also participate. The minimum investment amount is $100, and investors do not need to be accredited. The news comes as abillion reports that the platform has grown by twenty times over the past two years. The community now features more than 2.5 million user-generated product reviews, while 4,700 Software-as-a-Service customers are on recurring …


Omni Dog Food

Image courtesy of ProVeg

Vegan Dog Food Producer Omni Smashes £400K Crowdfunding Target in 15 Minutes

One of the UK’s fastest-growing vegan dog food producers, Omni, recently launched a crowdfunding campaign on the Seedrs platform, and announces today it has set a new record in its category, having surpassed the target within 15 minutes of the campaign going live. Consumers wishing to participate in the crowdfunder have been offered the chance to invest for as little as £11. Clearly, many saw it as a sound business opportunity; Omni has seen 30% average month-on-month revenue growth since launching in May 2021 with over 70% of its customers on subscription plans, and the brand sold over half a million meals in 2022. High profile investors After graduating from the sixth cohort of the Proveg Incubator in 2021, the brand went on to raise …


©The ISH Company

The ISH Company Raises Over $5M in Oversubscribed Round to Accelerate Plant-Based Shrimp and More

Alt-seafood startup The ISH Company announces it has raised more than $5 million in seed funding to accelerate growth and development of its plant-based seafood products. The oversubscribed round was led by ACCELR8, with participation from Stray Dog Capital, and multiple angel investors. The funds will primarily be used to propel the company’s market launch, create more innovative products, and lay the groundwork for future partnerships.  ISH, whose name stands for Innovative, Sustainable, and Healthy, produces a range of plant-based seafood made from natural ingredients such as green coconuts and algae. Its flagship product, Shrimpish®, is a premium, more sustainable alternative to shrimp that launched in select US restaurants, colleges, and universities in early 2022.  “The plant-based market has seen incredible growth over the past …


Plant-Based Hot Dog

©Sensible Hot Dogs

Canada: Sensible Hot Dogs Raises Nearly $12M to Disrupt American Hot Dog Market

Sensible Hot Dogs, an innovative plant-based hot dog company, announces it has raised $11,990,000 in non-brokered private financings. The announcement follows Sensible’s public debut on Canada’s NEO Exchange in 2022 under the symbol “HOTD.” Sensible Hot Dogs says it is on a mission to recreate hot dogs, America’s favorite street food, using less processed and more natural ingredients. According to The National Hot Dog and Sausage Council, Americans consume a massive 20 billion hot dogs every year. Currently, 95% of American homes eat hot dogs, while the average US resident consumes about 70 hot dogs annually.  Despite their popularity, the negative health consequences of eating conventional hot dogs have been well-documented. In one study, University of Michigan researchers found that consuming a single hot dog …


Hooray Foods Improved AWESOME Bacon

©Hooray Foods

Hooray Foods Opens First-Ever WeFunder Campaign to Reach Price Parity with Animal Bacon

Plant-based meat innovator Hooray Foods announces the launch of its first WeFunder equity crowdfunding campaign. Officially opening Jan. 25th, Hoorays says the Community Round gives its customers and fans an opportunity to invest for as little as $100 in exchange for company equity and product perks. Ahead of the public launch, the brand says its campaign preview is now live for the company’s biggest supporters.  Wefunder is a platform that allows the general public to invest in pre-IPO startups alongside venture capitalists. Upon reaching this Community Round’s goal of securing $500,000, Hooray says it plans to expand distribution for its innovative plant-based bacon. The company will also increase research and development efforts to help it fill the market gap for indulgent plant-based meats. Achieving price …


Grounded People Vegan Shoes

©Grounded People

Canada’s Grounded People Raises $2.5M to Expand ‘Industry-Leading’ Ethical Footwear

Ethical fashion brand Grounded People (CNSX: SHOE) announces it has received a “significant breakthrough” investment of $2.5M in capital from Vancouver-based Right Season Investments Corp. The brand, which specializes in fair wage and sustainable vegan shoes, says the capital will strengthen its leadership position and help expand its portfolio and distribution. In addition, Grounded People is preparing to launch a redesigned website and new collection of sustainable shoes beginning Friday, January 20th.  Known for its trendy unisex shoes, Grounded People says its line features ethically sourced, eco-conscious materials, produced in fair wage conditions. The brand’s PETA-approved footwear is almost entirely handmade from recycled materials in Brazil, in one of the world’s only exclusively vegan shoe factories.  The company adds it uses Blockchain technology for complete …


multus animal-free growth medium product

© Multus

Multus Raises £7.9M for “First-of-its-Kind” Animal-Free Growth Media Facility

British biotechnology company Multus announces it has raised a £7.9 million funding round for the “first-of-its-kind” facility to produce food-safe, animal-free growth media for the cultivated meat industry.  The round was led by Mandi Ventures and included Big Idea Ventures, SynBioVen, and Asahi Kasei. Additionally, Multus received an equity-free grant of £2.15 million from Innovate UK through the EIC Accelerator, which funds and invests in game-changing innovation startups through the EIC Fund. Growth media accounting for majority of cost According to Multus, animal-free growth media is necessary for the affordable scale-up of cellular agriculture. “Growth media causes the majority of costs, and tackling this challenge provides the greatest benefit for industrial-scale cultivated meat production. This next-generation growth media allows cultivated meat producers to reduce development costs and …


No Meat Factory Chicken Nuggets

©No Meat Factory

Canada’s No Meat Factory Closes $42M Series B to Revolutionize Plant-Based Protein Manufacturing

No Meat Factory, a leading Canadian manufacturer of plant-based proteins, announces the closing of a massive $42M in Series B funding led by Tengelmann Growth Partners. With the latest round, No Meat plans to take on the global alt-protein market by making plant-based products more affordable for mainstream consumers. Beginning in North America, the company will embark on expanding its production footprint and building out manufacturing capabilities for the global market. No Meat will also continue to make significant investments in its global R&D organization that focuses on commercializing the latest innovations in alternative proteins.  Founded in 2019, No Meat produces a wide selection of plant-based protein products for its brand partners, ranging from burgers and chicken nuggets to whole-muscle alternatives. In addition to its …


Project Eaden meat cuts

Image courtesy Project Eaden

Project Eaden Unveils Highly Realistic Alt Meat Tech, Extends Seed Round to €10.1M

Berlin-based food tech startup Project Eaden has revealed an innovative fibre technology that it claims can exactly replicate the texture and appearance of animal meat. The scalable technology is similar to that used to produce synthetic fibres, but Project Eaden has adapted it to use pea protein and other organic materials. The technology allows the properties of the fibres, such as elasticity, water binding ability, and strength, to be precisely designed. The resulting fibres, which are just 100 micrometres thick, can be bundled to replicate muscle strands. They can then be combined with vegetable fats to produce highly realistic marbled plant-based meat. Currently the startup is focusing on a steak alternative as its debut product launch. “Our ultimate goal is to offer consumers a product …


cultivated fish range

© Umami Meats

Steakholder Foods Receives First Grant to Develop Cultivated Eel and Grouper with Umami Meats

Israel-based Steakholder Foods (Nasdaq: STKH) announces it has received its first grant of up to $1M to develop 3D-printed structured eel and grouper products with cultivated seafood startup Umami Meats.  The initiative is being funded by a grant from the Singapore Israel Industrial R&D Foundation (SIIRD), a cooperation between – Enterprise Singapore (ESG) and the Israel Innovation Authority (IIA). According to Steakholder, the partnership with Umami Meats offers a unique opportunity for market entry in Singapore, the only country where cultivated meat has regulatory approval. The collaboration seeks to develop a scalable process for producing structured cultivated fish products. To create the fish, Steakholder will use newly developed technology for mimicking the flaky texture of cooked fish, which the startup recently submitted for a provisional …


Good Karma flax milk

©Good Karma

Good Karma Raises Latest Funding Round and Appoints Mike Murray as New CEO

Flax milk producer Good Karma announces it has named Mike Murray as its new Chief Executive Officer as the company raises its latest round of funding.  According to Good Karma, Murray brings over 25 years of experience in consumer products, most recently as the leader of Teton Waters Ranch, a beef producer. Murray also previously held senior roles at free2b Foods, So Delicious Dairy Free, WhiteWave Foods Co. and Larabar. At Good Karma, he will help the company pursue strategic distribution growth in new and existing channels, increase brand awareness and targeted household penetration, and introduce new product lines across dayparts. “Compelling opportunity” “I am looking forward to leveraging my experience and passion for galvanizing food system change to help the team bring Good Karma’s …


© Loving Earth

Australian Raw Chocolate Brand Loving Earth Raises $485K Via Equity Crowdfunding

Loving Earth, a plant-based raw chocolate producer from Melbourne, Australia, has raised $485,000 through an equity crowdfunding campaign conducted on Birchal. Over 300 investors participated in the campaign, and Loving Earth says it will use the funding to rebrand and launch new products. The company will also work to increase its global presence, recruit more team members, and expand via new distribution channels. Loving Earth first launched its organic plant-based chocolate in 2007, and initially saw huge demand. However, major chocolate brands soon began introducing similar products, creating tough competition. After facing further challenges during the pandemic, Loving Earth has only recently begun making a profit again. The company hopes the new funding will help it to get back on track. Fast-growing market A report …


Oatbox oats

© Oatbox

Canada: Oatbox Closes C$7.1M Round to Construct ‘World Class’ Oat Base Manufacturing Facility

Canadian startup Oatbox, which specializes in products made from oats, announces it closed a C$7.1M financing round to finalize the construction of its oat milk base manufacturing facility.  Located in St-Damase, Quebec, the plant will allow Oatbox to develop a wide range of plant-based oat products, including oat milk, as well as partner with companies requiring oat base for their operations. According to Oatbox, whose product line offers granola, oatmeal, overnight oats, and nutrition bars, it has been working for two years to develop its Canadian oat milk. The financial support will be used to finalize the construction of a world-class production line, which Oatbox says far exceeds the needs for its own product line. “This funding is a strong endorsement of our business plan …