Neggst whole vegan egg

© Antonios Mitsopoulos/Neggst

Neggst Raises €5M for Whole Vegan Egg With Shell

Germany’s Neggst has raised €5 million in seed funding for its whole vegan eggs, which feature a white, a yolk, and a biodegradable shell. The round was led by Green Generation Fund (GGF), with participation from BayWa AG, RWZ, Corecam Capital Partners, and various notable angel investors. The company says it is in talks with other potential investors for a second funding round. Neggst was founded in 2021 by Veronica Garcia-Arteaga and Dr. Patrick Deufel. While carrying out research work at the Fraunhofer Institute, Garcia–Arteaga set out to create an egg alternative that was not just a substitute but an upgrade. According to the company, the resulting plant-based egg is virtually indistinguishable from conventional chicken eggs in terms of taste, appearance, functionality, and nutritional value. …

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CEO Nathalie Rolland. © Nutropy

France’s Nutropy Raises €2M for “Next Generation of Cheese”

France’s Nutropy has raised €2 million in pre-seed funding for its animal-free cheeses and milk components. The female-led startup plans to use the capital to launch the cheeses on an industrial scale. Founded by Nathalie Rolland and Dr. Maya Bendifallah, Nutropy uses precision fermentation technology to produce animal-free casein. This milk protein is what gives cheese its stretchiness and creaminess, and until recently could only be obtained from animal sources. Additionally, Nutropy is developing animal-free dairy fatty acids. By combining these ingredients with cheese cultures, the company claims it can create products that are extremely similar to premium dairy cheeses. Nutropy’s pre-seed round was led by Beast, Trellis Road, and Big Idea Ventures (the startup took part in the latter’s accelerator program earlier this year). …

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Ozers microalgae sports supplements

© Ozers

Ozers to Raise €300K for Unique Microalgae Sports Supplements

French startup Ozers has opened a funding round to raise €300,000 for its innovative microalgae sports supplements. Ozers was founded last year by former boxer Maxence Damarey, food trends hunter Oliver Dahan, and Algama co-founders Alvyn Severien and Gaëtan Gohin. Damarey was inspired to create the company because he was unable to find any supplements that met his needs. The use of microalgae is said to significantly enhance athletes’ endurance, and sets Ozers apart from other plant-based sports nutrition brands. Damarey told vegconomist that microalgae have antioxidant and anti-inflammatory effects, while also enhancing oxygen transport in the blood. The products are marketed towards both professional and amateur athletes. Funding Last year, Ozers (previously known as NØKO FOODS) took part in the sixth cohort of the …

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Biotech Foods meatballs

© Biotech Foods

BioTech Foods Receives €750,000 From Spanish Foreign Trade Institute

Spain’s Biotech Foods has received a €753,000 grant for its investMEAT project from the Spanish Foreign Trade Institute (ICEX). The investMEAT project is researching cell lines, cultured media, and biomaterials in order to scale up cultivated meat production to an industrial level. The funding will be provided through ICEX’s R&D program Innova Invest.  The ultimate goal is to significantly bring down the cost of cultivated meat, making it available to the consumer at competitive prices. This will be done by making the production process much more efficient, which will improve scalability. “Results will contribute to the development of the first cultivated meat industrial production plant in Spain, and one of the most state of the art in the world,” said Iñigo Charola, co-founder and CEO …

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Powerplant-Ventures

©Powerplant Ventures

PowerPlant Partners Reveals New $330M Fund to Exclusively Support Growth-Stage Companies

PowerPlant Partners, a global growth equity firm investing in disruptive plant-based companies, announces it has closed a $330M fund to shift from investing in startups to focus solely on growth-stage companies.  The new fund, known as PPV Fund III, will invest between $15M and $40M in target companies generating $10-$75M in annual revenue as active, primarily minority, investors. The firm will continue to support consumer-facing brands, but is expanding its vision beyond food and beverage products to include consumer technology, service and enablement companies that prioritize the importance of human and planetary life.  According to PowerPlant, this shift will allow the firm to grow its consumer wellness platform while providing a more integrated network for its current portfolio brands. Miyoko’s and more “With this additional …

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© Wicked Kitchen/Good Catch

Wicked Kitchen Acquires Good Catch’s North American Channels

Plant-based brand Wicked Kitchen has acquired alt-seafood producer Good Catch’s North American channels, stating: “We will have the largest variety of animal-free consumer packaged goods in the industry.” The acquisition will enhance Wicked’s portfolio to include frozen and ambient plant-based seafood. The company will take over the Good Catch brand in North America, while Good Catch’s parent company, Gathered Foods, will become a Wicked shareholder. Branding, product availability, and distribution will all remain the same. Both Wicked and Good Catch were co-founded by chef-brothers Chad and Derek Sarno. Chad Sarno will act as chief culinary officer for both brands, with Wicked and Good Catch working together on plant-based product innovations. Good Catch will also help Wicked expand its presence in foodservice. Wicked Kitchen in the …

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© Cultivated Biosciences

Cultivated Biosciences Raises $1.5M to Make Plant-Based Dairy Creamier

Switzerland’s Cultivated Biosciences has raised $1.5 million in pre-seed funding to further develop its creamy yeast-based fat ingredient. The sustainable, clean-label fat improves the mouthfeel of plant-based dairy products, with the potential to win over flexitarian consumers who are not satisfied with the options currently available. The ingredient has natural emulsification properties, low lipid oxidation, and the same texture and colour as dairy cream. The pre-seed funding round was led by Wingman Ventures, with participation from firms including Big Idea Ventures, Blue Horizon, ProVeg International, and the FoodHack syndicate. Arturo Elizando, CEO and co-founder of The EVERY Company, and Lukas Böni, co-founder of Planted, also supported the round. Cultivated Biosciences will begin testing the ingredient with selected clients in 2023, and is open to further …

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Planted raises one of Europe's largest alt-protein rounds

© Planted

Planted Raises £61M in One of Europe’s Largest Alt-Protein Rounds

Switzerland’s Planted has raised £61 million in Series B funding, achieving one of the largest alt-protein rounds ever to take place in Europe. The round was led by private equity firm L Catterton, with participation from existing investors including Vorwerk Ventures, Movendo, and footballer Yann Sommer. Planted will use the funding to accelerate its international growth, expand its product range, and build another production site. Planted produces whole-cut plant-based meats using ingredients such as peas, oats, and sunflower. The meat alternatives are made with a biostructuring approach, combining protein structuring with fermentation to produce clean-label whole cuts. The company says it is in the final stages of launching its new product range, which features plant-based chicken breasts, tenders, and patties. Planted is already established in …

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Cultivated scallops

© Mermade Seafoods

Israel’s Mermade Raises $3.3M for Cultivated Scallops

Israel’s Mermade has closed an oversubscribed seed funding round, with investors including OurCrowd, Fall Line, and Sake Bosch. Mermade is a startup developing what it claims are the world’s first cultivated scallops. What sets the company apart is that it is using aquaponics, a circular process that allows it to cut costs and improve sustainability compared to other cultivated meat and seafood producers. The technology uses algae to recycle spent growth medium, a byproduct of the cell cultivation process. Mermade intends to use the funding to hire stem cell and algae researchers, with the goal of producing its scallops on a laboratory scale by 2023. The startup is one of many alt-seafood producers to find success with investors in 2022 — figures show that the …

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Davai Dumplings team

© Davai Dumplings

Ter Beke Invests Half a Million Euros in Davai Dumplings

Davai Dumplings of Belgium announces it has entered into a strategic partnership with food group Ter Beke. The deal involves an investment of more than 500,000 euros for the young brand’s frozen vegan dumplings. Davai reports to vegconomist that Ter Beke is looking to diversify its portfolio and move into plant-based and the news represents the group’s first ever startup investment. Success for the young founders The Ghent-based startup was founded in 2016 by then students Ruslan Podgaetskiy and Maybritt Devriese who will receive half a million euros for the Ghent vegan dumplings. Ter Beke will provide assistance in the marketing, distribution and internationalization of the Davai brand. According to the startup, the collaboration symbolizes an investment in making the food sector more sustainable. The …

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Upside Foods

Cultivated chicken ©UPSIDE Foods

Food Tech Funding Declines 21.5% in Q2, Compared to Only 9% for Alt-Proteins

In the second quarter of 2022, total VC funding for the food tech sector experienced a 23% decline from Q1, says a new report by Pitchbook, with total deal values dropping from $6.9Bn to $5.6Bn. Funding for alternative proteins, however, declined by only 9% over the same time period, suggesting the industry’s resilience and stability in the face of uncertain and rapidly changing economic conditions.  Demonstrating strength According to the report, Q2 of 2022 is the fourth consecutive quarter that saw a decrease in VC investment in food tech, despite massive rounds for companies such as GoPuff, Wonder and Choco. Public market volatility has effectively closed most IPO windows and limited exit options, the report states, while increasing concerns over inflation are causing more investors …

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Lavva Original Yogurt

©Lavva

Lavva Plant-Based Yogurt Acquired by Next in Natural, Names Jeff Lichtenstein as New CEO

Dairy-free yogurt brand Lavva announces it has been acquired by its lead operating partner, Next in Natural, a New York-based business development studio. Through the partnership, Lavva is also appointing Jeff Lichtenstein as its new CEO, and adding several strategic investors to its team.  According to Lavva, Lichtenstein brings extensive experience in launching and scaling national CPG brands in the natural category. As the founder and CEO of Gourmet Guru (acquired by UNFI), Lichtenstein helped to launch such well-known brands as Chobani, Stumptown Coffee, and Hu.  “Lavva is what’s next in natural – delicious and nutritious plant-based products aligned with consumer demand for clean, whole food, functional, regenerative ingredients, and convenience,” says Lichtenstein. “Joining forces with these outstanding partners allows us to fortify the supply chain …

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Novel Farms Cultivated Pork Loin

©Novel Farms

Novel Farms Raises $1.4M in Pre-Seed Round for First Marbled Cultivated Pork Loin

Novel Farms, a food technology startup, announces a $1.4M pre-seed funding round and reveals it has created the world’s first marbled cultivated pork loin. According to the startup, its loin showcases the marbling and texture of a real muscle cut, making it one of the few cell-based meat companies to successfully create a structured meat prototype.  Founded in 2020 by Nieves Martinez Marshall, PhD and Michelle Lu, PhD, the company says its pork loin can scale more efficiently than other cultivated meats thanks to its edible and highly customizable scaffolds. Developed with Novel’s proprietary microbial fermentation, these lower-cost scaffolds provide a structure for the attachment of cultured meat cells, without the need for costlier biomaterials such as alginate, mycelium or cellulose. These newer scaffolds are …

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Iceland's Loki Foods develops plant-based cod

© Loki Foods

Iceland’s Loki Foods Raises $650K for Whole Cut Plant-Based Cod

Iceland’s Loki Foods has raised $650,000 in its pre-seed funding round. Investors in the round included Sustainable Food Ventures, Kale United, VegInvest, and Lifely VC, among others. The alt-seafood producer, which claims to be the first of its kind in Iceland, will use the funding to further develop its plant-based Atlantic cod fillet. Loki Foods describes the white fish alternative as “plant-based cod that cooks like cod”, adding that it is high in protein, vitamins, and omega 3 and 6 fatty acids. The product is said to be better for the environment than conventional cod, requiring less land and water and generating less waste. Additionally, it is free of microplastics and other pollutants often found in conventional seafood. Whole-cut fish alternatives Worldwide, companies are taking …

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Oatside lifestyle shot breakfast table

© OATSIDE

Ex CFO of Heinz Indonesia Secures $65.6M for OATSIDE, Singapore’s First Oat Milk Brand

According to filings made to Singapore’s Accounting and Corporate Regulatory Authority (ACRA), Singapore’s first oat milk brand OATSIDE has secured $65.6 million in a Series A funding round co-led by Temasek Holdings and GGV Capital, intending to “lead the shift to more sustainable foods” across the continent. Founder and CEO Benedict Lim, formerly the Chief Financial Officer at Kraft Heinz Indonesia, began experimenting with oat extraction methods during the pandemic lockdown, using Australian oats and natural spring water. In interview with Asian lifestyle magazine Prestige, Lim describes his intentions: “For Oatside to be the plant milk for people who don’t care for plant milks, to lead the shift to more sustainable foods across Asia by being incredibly delicious”. Describing itself as a full-stack oat milk …

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