Source: Siete Foods
Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
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Grain-free tortilla maker and Siete Family Foods has landed $90 million from Stripes Group, allowing the brand to expand into conventional grocery stores. Microbiome Testing startup Viome has acquired Habit from Campbell’s Soup Co for an undisclosed sum, promising to become the undisputed leader in personalized health.
In retail news, Finland-based Relex has closed a $200 million round to expand its retail technology platform into the US. UK-based snack box startup Graze has been acquired by Unilever to expand its better-for-you offerings.
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We interviewed 45+ CEOs, execs, farmers and investors about the role biodiversity plays in our food industry. Read this week’s published responses from FoodShot Global, Bowery Farms, rePlant Capital, Slow Food USA, Yolele Foods, Health Warrior and Farm.One.
Join us to hear how game-changing startups are creating a more biodiverse food system at our February Food+Tech Meetup. CEOs and COOs from Row 7, Alpha Food Labs, Kuli Kuli and Tender Greens will do a deep dive into their business models and supply chains.
Stripe Groups’ investment will expand Siete’s sales team, which currently consists of just three employees, in order to launch in more conventional supermarket chains. The company will also use funds to hire an R&D team.
Financial terms were undisclosed. Viome makes personalized food recommendations based on a person’s microbiome, while Habit develops nutritional recommendations based on biology, metabolism and personal goals.
The investment is the first public investment from TCV’s new $3b fund. It will be used to give the company’s sales a boost, especially in the US, and to develop more services on its current platform.
The retail giant bought the company from The Carlyle Group for $194m. Graze offers a variety of snacks with no artificial ingredients. The company started with a snack box delivery service and is now also available in retail stores, e-commerce and direct-to-consumer.
The Series B is led by Lisa Wu at Northwest Venture Partners. Ritual plans to launch two new products, a postnatal and post-menopausal vitamin, in 2019.
Funding was led by Vaultier7, with participation from the likes of Kairos, Tinder founds, Interplay Ventures the San Francisco 49ers and SoGal Ventures. New capital will be used to expand its line of baby meals.
Chicago-based Sustainable Bioproducts has raised $33m to accelerate its research into microbes in Yellowstone National Park. 1955 Capital led the round with participation from Breakthrough Energy Ventures.
MycoTechnology’s investment was led by S2G Ventures Fund II, with participation from Tyson Ventures, Kellogg’s and others. The company plans to further develop its second product, PureTaste, a plant-based protein made from fermented shiitake mycelium.
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