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 …


Alvyn Severien. © Algama Foods

Seafood Giant Thai Union Invests in French Microalgae Producer Algama Foods

The corporate venture capital fund of global seafood company Thai Union has announced an investment in Paris-based microalgae producer Algama Foods. Through the investment, Thai Union is looking to grow its alternative proteins business, with the aim of becoming more sustainable. The company has been working towards this goal for some time, last year forming an alliance with Chicken of the Sea and The ISH Food Company to invest in sustainable seafood alternatives. Thai Union has also invested in another algae ingredients producer, Mara Renewables, and has signed a memorandum of understanding with Aleph Farms with the goal of bringing cultivated meat to the APAC region. Strong tech and commercial capabilities “At Thai Union, we are committed to ‘Healthy Living, Healthy Oceans’, and algae, as …


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 …


The founders turning carbon dioxide into protein

Arkeon founders. © Arkeon

Arkeon Biotechnologies Secures Over €‎10M to Convert CO2 Into Food

Vienna’s Arkeon Biotechnologies, a startup converting CO2 into functional, carbon-negative ingredients for food; raised seed funding of €‎6.5 million last March and now announces it has secured another four million euros. Arkeon’s technology uses gas fermentation to transform CO2 into proteins and the process, according to the company, generates all 20 essential amino acids using a microorganism that produces them in just one fermentation process. The resulting proteins require 99% less land and only 0.01% of the amount of water used by conventional agriculture. New investors include ICL, aws Gründerfonds, FoodHack and Tet Ventures, with the fresh funds going towards the expansion of its proprietary technology as well as the planning of a new R&D centre. “We are very pleased to have the support of …


Plant-based Hot Dogs/ Lunch

©Sensible Hot Dogs

Plant-Based Startup Sensible Hot Dogs Makes Public Debut on Canada’s NEO Exchange

Hot dog startup Sensible Hot Dogs announces it has launched its common shares on Canada’s NEO Exchange, and is now publicly trading under the symbol NEO: HOTD. Based in Canada, Sensible is described as an innovative hot dog company creating tastier and healthier versions of America’s favorite street food. By combining clean and sustainable ingredients with a functional price point, the company seeks to reinvent consumers’ experience with plant-based foods.  “Our debut on the NEO Exchange is a significant milestone for our company as we look to leverage the capital markets to fuel our growth with the support of a Tier 1 exchange,” commented Shawn Balaghi, CEO of Sensible Hot Dogs. He continued, “After thoroughly reviewing all of the potential options to list in Canada, …


Big Mountain Foods

©Big Mountain Foods

Protein Industries Canada: Canada’s Plant Protein Sector Gained Strong Momentum in 2022

As 2022 comes to a close, Protein Industries Canada (PIC), a consortium working to advance Canada’s plant-based foods sector, is celebrating a highly successful year. Now in its fourth year, the organization says Canada’s plant-based industry continues to gain strong momentum, and reflects on the significant milestones its group recently achieved. Earlier this year, PIC announced a $4.1M investment in a project to develop novel oat products and ingredients, including Canada’s first oat-based protein. PIC also joined with other Canadian investment firms to raise $200M in capital to finance the next generation of plant-based food processors. Investing $477M “Over the past four years, Protein Industries Canada and our industry partners have made tremendous progress, including investing more than $477 million into Canada’s plant-based food, feed …


Angelo Vegan Cheese

© One Good/Angelo

One Good Acquires Fellow Bengaluru-Based Brand Angelo Vegan Cheese

Indian alt dairy brand One Good has announced the acquisition of vegan cheese producer Angelo, which is based in the former’s home city of Bengaluru. Described by One Good as “the most delicious vegan cheese in India”, Angelo’s products are made with fresh, natural ingredients such as cashews, peanuts, and coconut oil. There are currently four cheeses in the range — Classic Vegan Mozzarella, Melty Vegan Mozzarella, Truffle Vegan Mozzarella, and Vegan Parmesan. Angelo’s products will now be manufactured and delivered by One Good, and will be listed on the latter’s website. Previously, the cheeses were only sold in Bengaluru, as founder Adi Fer made each batch at home. Despite demand from other cities, Fer lacked distribution and warehousing and was unable to get his …


four heura chorizos on a plate

© Heura

Spain’s Alternative Protein Sector Stands Out Among Food Tech Investments in 2022

In 2022, Spain remained prominent among the top ten European food tech countries according to Eatable Adventures’ report, The State of Foodtech in Spain 2022. Here we take a look at some top-ranking Spanish alt food brands in terms of investments including Heura, Cocuus, Innomy, Cubiq, and Novameat. This year, the total investment figure for food tech in Spain stands at 268 million euros, an increase of 9.38% compared to the previous year, not counting the investment round achieved by Glovo (450 million euros), says the report. Series A rounds saw an increase, growing by nearly 20%, 5 points more than in 2021. According to Eatable Adventures, the emergence of the alternative protein sector stands out among significant investments rounds in 2022, with three startups …


Damien Clarkson and Judy Nadel, The Pack founders

Damien Clarkson and Judy Nadel, founders of THE PACK

THE PACK Raises £835K for Nutritionally Complete Plant-Based Dog Food

UK plant-based dog food brand THE PACK has raised £835,000 in its seed funding round. The round took place both privately and through vegan investment platform Vevolution, which originally founded by THE PACK’s founders Damien Clarkson and Judy Nadel. Participants included Scelta Mycofriends B.V., Veg Capital, Kale United, and Akoleo, along with alt protein angel investors Simon Newstead, Alicia Robb, Simon Day, Victoria Betoski, and Leo Groenewegen. Additionally, an investment was made through Silicon Valley VC’s Accel early-stage scouting program. Investors from petcare accelerator Leap Ventures, including the Mars Petcare Companion Fund, also contributed. The funding will support THE PACK in launching its nutritionally-complete oven-baked dry food in early 2023. It follows the launch of the brand’s plant-based meat stew wet food, which was claimed …


© 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 …


Soy plants/ crops

© Equinom

Equinom Closes $35M in Funding to Scale Minimally Processed, Non-GMO Plant Protein

Israeli nutrition company Equinom announces the close of $35M in funding to bring its more optimized plant proteins to market. The round brings the company’s total funding to date to $71M.  Equinom will use the capital to accelerate the commercialization of its plant protein ingredients, which will be sold to food companies via established multinational suppliers.  Equinom specializes in breeding new non-GMO varieties of important proteins used by the plant-based industry, such as soy and pea, that are optimized for food production and require less processing. These improved proteins are said to offer better taste and nutrition while reducing production costs and complexities. According to Equinom, this thus enables food companies to develop tastier and more affordable alternatives to meat and dairy. “Today’s food system …


© Belong Capital

SPAC Belong Capital to Merge With Unnamed Plant-Based Food Company

Belong Capital — a special purpose acquisition company (SPAC) focused on high-potential tech-enabled businesses — is set to merge with a plant-based food company. As reported by Seeking Alpha, Belong said it had signed a non-binding letter of intent to combine with the unnamed company, which has an annual revenue of more than $50 million. A closing is expected in the second quarter of next year, with the plant-based company set to execute an agreement at some point over the next month. Further details will be published after the agreement. The news comes following Belong’s $150 million raise when it went public last year. Speculation While the identity of the plant-based company is unknown, Seeking Alpha appears to hint that it could be Impossible Foods, …


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 …