Amsterdam-based venture capital fund Plantbase, which focuses on alt-protein, has added four new companies to its portfolio — JUST, Mighty Pea, Après, and Purezza. The investments mark a shift into new food categories for the fund.
Vegano, Canada’s first 100% plant-based meal-kit delivery service, announces it has closed a $4.2 million Series A round, more than doubling its original target of $2 million, bringing its total funding to $6 million and its post-money valuation to $14 million. Founder Conor Power says there are plans for the company to become publicly listed later in 2021, at which point there will be a further fundraise.
VMG Partners – a private equity firm based in San Francisco behind a large portfolio which includes Daily Harvest, Vega, Pretzel Crisps® and other vegan snacks – announced yesterday the closing of VMG Partners V, L.P. (“VMG Growth Fund V”) at its target and hard cap of $850 million. With the closing of VMG Growth Fund V, VMG’s assets under management increase to around $2.6 billion.
Business pitching show Shark Tank has produced another vegan business success story, as billionaire entrepreneur Mark Cuban invests in new plant-based meat brand Everything Legendary. We also hear from his previous investment, Mrs Goldfarb’s Unreal Deli, with news that its plantbased fine meats, including the famous vegan corned beef, are now available in retail and foodservice across the US, including Veggie Grill.
Following its recent regulatory approval for cultured meat, Singapore has rapidly become a leading centre of innovation for food-tech startups. One such company is Next Gen, which reveals today it has closed what it says is the largest seed round ever in the plant-based sector at $10 million, and also announces the launch of TiNDLE, its new plant-based chicken brand.
Leading alternative protein venture capital firm Unovis Asset Management has announced the closing of its investment in Indonesia-based startup, Green Butcher. Located in Jakarta, the company claims to be the first plant-based meat producer in the Southeast Asian country, developing chicken and beef alternatives using natural, whole-food ingredients.
Dutch cultured meat pioneer, Mosa Meat, the food tech company which developed the world’s first cultivated beef burger in 2013, has announced the closing of its Series B round. The funding represents further investment in the cell-based sphere, with various big players ramping up development globally.
Israel’s Redefine Meat today announces the completion of a $29 million USD to expand its alt meat portfolio and support its commercial launch and the large-scale production facility for its industrial 3D Alt-Meat printers, both set for later this year. The company’s patented technology produces sustainable plant-based meat products which reportedly offer a taste and mouthfeel indistinguishable from animal meat.