Project Pollo Vegan Chicken Fingers

©Project Pollo

Former McDonald’s CEO Steve Easterbrook Joins Chik’n Chain Project Pollo as Investor and Advisor

Plant-based chick’n chain Project Pollo revealed it has received a growth investment from former McDonald’s CEO Steve Easterbrook.  Easterbrook is also serving as a direct advisor to the chain as it aims to open 100 locations by the year 2025.  Easterbrook’s investment closed a recent seed round for the brand, reports QSR, which has opened 15 units across Texas in two years. Specializing in vegan chicken sandwiches, Project Pollo has ambitious growth plans and intends to compete directly with top chicken franchise Chick-Fil-A, according to founder and CEO Lucas Bradbury. In the near future, the brand is preparing to open new locations in Boulder, CO, Tempe, AZ and Las Vegas, with plans to enter markets such as Nashville, Atlanta, Tampa and Miami in 2023. Franchise …

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A mushroom burger

© Innomy

Spain’s Innomy Receives €1.3M For Mycelium-Based Meats 

Spanish startup Innomy, dedicated to mushroom-based alternatives to meat, announced it has raised €1.3 million in a Pre Series A funding round to scale, promote and market its products in Europe. Innomy is part of Spain Foodtech startup acceleration program developed by Eatable Adventures in collaboration with ICEX (Spain Export and Investment), CNTA, and Rockstart’s AgriFood program. Innomy is based in Bilbao and was founded in 2021. The team consists of CEO and co-founder Juan Pablo de Giacomi, COO and co-founder Pablo Sánchez Rey, and mycologist CSO Francisco Kuhar. Innomy says it is developing a new generation of healthier, sustainable, and more delicious meat alternatives combining fungi and biotechnology. For years, the startup has been researching mycelium properties and their benefits on people’s health and …

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Kate Farms Plant-Based Nutrition

©Kate Farms

Kate Farms Closes $75M Series C Round to Expand Plant-Based Nutrition in Hospitals

Kate Farms, a leader in plant-based nutritional formulas, announces it has closed $75M in Series C funding, in a round led by life science investor Novo Holdings. The funding brings the company’s total raise to over $135M, and will be used to fuel additional innovation in the brand’s portfolio, develop new products and enter new market channels. “I’m pleased that… investors appreciate the significant potential of plant-based nutrition and Kate Farms’ leadership in this rapidly growing market” Accessible in over 95% of US hospitals, including top children’s hospitals, Kate Farms produces plant-based, organic and clinically demonstrated formulas for those with chronic illnesses and acute conditions. Its entire product portfolio, used for tube and oral feeding, is USDA organic and non-GMO certified, while being free from common …

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A vegan whole-cut

©Rival Foods

Rival Foods Raises €6M for High Tech Vegan Whole Cuts

Rival Foods, a company dedicated to plant-based whole cuts, recently announced the completion of its €6M Series A funding round. The raised funds will be invested in developing new formulations with next-generation protein sources, scaling up its technologies, and expanding its operational capabilities.   Based in the Netherlands, it was founded in 2019 by Birgit Dekkers and Ernst Breel as a technology spin-off company from Wageningen University & Research. Rival Foods’ aim is to develop plant-based whole cuts and future products using new technologies and processes. Rival Foods claims that by developing technologies, equipment, processes, and product compositions, it can make plant-based whole cuts that deliver the same fibrous texture, rich mouthfeel, and juiciness experience of an animal cut. Its processes also can turn a wide …

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Prolific Cultured Meat

©Prolific Machines

Prolific Machines Reveals $42M Series A to Scale ‘Assembly Line’ Tech for Cultivated Meat

Cultivated meat startup Profilic Machines has emerged from stealth mode to announce a $42M Series A raise led by investor Arvind Gupta and the Bill Gates-founded Breakthrough Energy Ventures. After raising the round a year ago, it is now opening a 25,000 sq. ft. facility in Emeryville, CA to expand its “fundamentally new approach” to cultivated fish, poultry and beef.  Unlike most cultivated meat companies, Prolific says it is focused on inventing a scalable manufacturing process first, followed by a product, in order to create the necessary infrastructure that can cost-compete with factory farming. As Henry Ford revolutionized automobile manufacturing by efficiently assembling cars, Prolific says it is inventing breakthrough technology to help cultivated meat reach the mass market.  Reducing costs Prolific was founded by …

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Next Level Burger Stacked Vegan Burger

©Next Level Burger

Next Level Burger Raises $20M to Quadruple US Stores and Accelerate Path to 1,000 Locations

Vegan burger chain Next Level Burger announces it has raised $20M in funding to accelerate its plans for national US expansion. The company’s growth includes quadrupling its store count by the end of 2025, and eventually opening 1,000 locations.  According to the brand, the round was led by a strategic organic and natural foods partner, private mission-driven shareholders and early stage vegan investors Alex Payne, formerly of Twitter and Simple Bank, and Nicole Brodeur.  Operating nine locations in California, Oregon, Colorado, Texas and New York, Next Level is renowned for its 100% plant-based take on classic American fast food. Its selection of burgers, fries, and decadent milkshakes use only non-GMO ingredients and organic produce, while its product packaging is fully compostable.  1,000 outlets in 10 …

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Bond Pet Food Founders

Tony Day, CTO, Rich Kelleman, CEO, and Pernilla Audibert, CSO©Bond Pet Food

Bond Pet Foods Raises $17.5M in Series A From Sia and Top Investors to Scale Fermented Meat Proteins

Bond Pet Foods, a biotech startup using fermentation to create meat proteins for pet food, announces it has completed its Series A fundraising round totaling $17.5M. The startup has also broken ground on a new 15,000 sq. ft. production facility in Boulder, CO.  The oversubscribed round included top global agribusiness companies ADM Ventures (Archer Daniels Midland Company) and Cavallo Ventures (Wilbur Ellis), as well as institutional funds Genoa Ventures and Lever VC; and food/tech and sustainability investors Thia Ventures and iSelect Fund, among others. Musical icons Sia Isabelle Furler and Joan Jett also participated in the round. A key trend   The startup plans to use the new funding to expand its portfolio of meat proteins and begin scaling production at a new 15,000 sq. ft. …

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Clever Carnivore

©Clever Carnivore

Chicago’s Clever Carnivore Raises $2.1M, Says $1 Cultivated Meat Burger is Possibility

Cultivated meat startup Clever Carnivore announces it is opening a new headquarters and lab in Chicago’s Lincoln Park neighborhood. The company also reveals it has raised $2.1M to date in pre-seed funding, reports Built in Chicago. According to a statement, the new headquarters will consist of 4,179 sq. ft. located in “Chicago’s academic epicenter”, where the startup will develop high-quality cultured beef, pork and chicken. Clever Carnivore’s CEO says it has already begun producing cell-based meat, but it will be some time before the products are ready for commercial scale. “The new space essentially gives us the space to not only grow the company, but the meat itself,” CEO Virginia Rangos, Ph.D, told the Chicago Business Journal. “We think we will have product prototype ready …

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PawCo Plant-Based Dog Food

©PawCo

Former Impossible Foods Employee Launches “World’s First” Pet Food Made from Plant-Based Meat

Pet food startup PawCo announces the launch of its proprietary dog food made from plant-based meat. Founded by Dr. Mahsa Vazin, a former Impossible Foods employee, PawCo also reveals it raised a seed round earlier this year for an undisclosed amount.  According to the brand, it has invented the world’s first fully plant-based meat designed specifically for pet food. Made to be as tasty as traditional meat, PawCo says its recipe contains all the essential amino acids, vitamins and minerals most adult dogs need to thrive. Its product offerings feature plant-based protein mixed with a variety of fruit and vegetables; including Peanut Butter and Apple, Green Mix and Carrots, and Blueberries and Veggies.  Because the foods are animal product-free, they are also recommended for pets …

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Clean-Kitchen-Club-London

© Clean Kitchen Club

Clean Kitchen Club Raises Seed Round Funding of £2M

The young plant-based chain Clean Kitchen Club’s latest funding round has been topped to £2 million thanks to some of the UK’s leading entrepreneurs. Starting out selling burgers from a small delivery kitchen, Clean Kitchen Club has grown into one of London’s most popular plant-based restaurant chains in less than two years. In November 2021, Clean Kitchen Club closed its seed round funding with a total of £1,4 million raised. Among the entrepreneurs whose investments topped the seed capital to £2 million are former McDonald’s CEO Steve Easterbrook, businesswoman and influencer Grace Beverley, as well as former Quorn chairman Clive Sharpe and Spencer Matthews, founder of CleanCO. Crowdfunding campaign Back in 2021, Clean Kitchen Club revealed its plans to open a total of 40 new …

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Bandit_FreshMozz_Peaches Bandit

©Bandit

Conscious Cultures Raises $1.5M & Rebrands to ‘Bandit’ as it Pushes Boundaries for Vegan Cheese

Plant-based foods company Conscious Cultures announces it has raised $1.5M in seed funding as it officially rebrands to Bandit. The round was led by venture capital firm Prime Movers Lab, and the funds will be used to continue scaling production and expand Bandit’s fan base. Bandit produces artisan dairy-free cheeses made primarily from cashews and coconut, including Fresh Mozz (mozzarella), Philly Spread (cream cheese), and Fruit ‘n Nut (cranberry goat cheese.) It also produces a line of signature varieties such as Maverick (a cave-aged double cream bloomy rind) and Barn Cat (a cave-aged, vegetable ash ripened cheese with an ash inlay.) Best tasting “The Bandit team is pushing the boundaries of cultured, plant-based milks, producing the most compelling vegan cheeses on the market. We have …

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Meati Mushroom Steak

©Meati

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

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 …

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Team of business professionals having a meeting

© Jacob Lund - stock.adobe.com

GlassWall Syndicate and GFI Launch Emerging Growth Consortium – First Network for Later Stage Investors

GlassWall Syndicate (GWS), the world’s largest network of plant-based and cultivated meat investors, is launching the Emerging Growth Consortium – a first-of-its-kind investor group for later-stage institutional investors. Created with knowledge partner The Good Food Institute (GFI), the consortium will provide Series B and beyond investors with a formal network that specifically caters to their needs, and increases investor capacity to support this thriving sector.  According to GWS, it can be difficult for alternative protein companies to obtain emerging growth raises such as Series B and Series C due to the high-tech and capital-intensive nature of the industry. However, such investment is imperative to the long-term success of plant-based and cultivated protein and their powerful potential to benefit the environment, human health and animal welfare. By …

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Green Generation Fund founders

© Green Generation Fund

Green Generation Fund Raises €100M to Provide Seed Capital to Alt-Protein Startups

Entrepreneurs Manon Littek and Janna Ensthaler have launched the €100 million Green Generation Fund, after raising funding from investors including Corecam Capital Partners and Westwing founder Delia Lachance. Targeting alt-proteins, the fund has already invested in eight startups, including cell-based breast milk company Biomilq and animal-free dairy producer Change Foods. Another is Neggst, a startup producing what it claims is the first vegan egg with a shell. In total, the Green Generation Fund is aiming for a portfolio of 20-25 companies. All startups will be given targets to reduce their carbon emissions, and if these targets are not reached then a third of the returns will be donated to environmental organisations. The fund managers’ renumeration will also vary depending on whether sustainability targets are met. …

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Eclipse Ice Cream

©Eclipse Foods

Eclipse Foods Secures $40M in Series B to “Completely Transform” the Dairy Industry

Eclipse Foods, a leader in plant-based dairy, announces it has raised over $40M in Series B funding led by Sozo Ventures, with participation from Khaled bin Alwaleed’s KBW Ventures. The latest round brings the startup’s total fundraising amount to more than $60M. Eclipse says the funds will accelerate the brand’s retail and food service growth, increase plant-based dairy R&D, build out a top team, and expand marketing. Founded in 2019, Eclipse produces plant-based ice cream said to be indistinguishable from real dairy. Using a blend of non-GMO ingredients, including cassava, corn, and potato, the company says it is capable of recreating virtually any milk product – from ice cream to cheese to spreads – with the same taste, texture and functionality as animal-based dairy.  The …

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