Impossible Foods Raises $300M, Amex Aquires Resy + More

Source: Impossible 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.

Things are certainly heating up in the plant-based and cellular meat space. Following on the heels of Beyond Meat’s blockbuster IPO, Impossible Foods Raised $300 million from a star studded group of investors, including Jay-Z, Jaden Smith, Katy Perry, Serena Williams and Kirk Cousins. Beyond Meat is still enjoying phenomenal success in the public markets, outpacing Uber’s IPO. Cargill is placing bets in cellular agriculture, investing in Israel-based Aleph Farms $12 million round. And Big Idea Ventures, a hybrid venture firm with a VC arm and accelerator program backed by Tyson Foods, has closed its first $50 million for its New Protein Fund, which will invest in plant-based and cellular agriculture startups.

In other news, the amount of smart capital supporting food innovation continues to grow. Kroger is launching a brand accelerator, Padma Lakshmi and Stacy’s Pita Chips are investing in and mentoring female founders and Mars and Jerusalem Venture Partners are building a Food Tech Research Hub in Israel.

Finally, Amex has acquired Resy for an undisclosed amount.

Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.

_______________

1. Impossible Foods Raises $300M with Investors Eager for Bite of Meatless Burgers – Reuters

Investors included Khosla Ventures, Google Ventures, Horizons Ventures and more alongside celebrities and star athletes including Jay-Z, Jaden Smith, Katy Perry, Serena Williams and Kirk Cousins.

2. Beyond Meat Shares Spike another 14%, Leaving Uber in the Dust After IPO – CNBC

The company’s IPO has left every other debut in the dust, including Uber Technologies’ highly anticipated foray into the public market.

3. Israel: Aleph Farms Raises $12M With Investment From Cargill – Food Dive

VisVires New Protein led the round in the cultured meat company, with participation from Cargill, Strauss Group and other venture capitalists.

4. American Express Buys Resy to Reclaim Its Place in the Hearts of Power Diners – Eater

Terms of the deal were not disclosed.

5. Kroger Launches Brand Accelerator – Grocery Dive

The new venture, which Kroger is undertaking in partnership with private equity firm Lindsay Goldberg, will become part of the grocer’s growing alternative investment portfolio and will utilize the chain’s data and merchandising expertise.

6. Padma Lakshmi and Stacy’s Pita Chips Launch Funding and Mentorship Project for Female Food Founders – Forbes

Top Chef judge and food entrepreneur Padma Lakshmi is joining “Stacy’s Rise Project,” an initiative from Stacy’s Pita Chips and Alice to provide funding and mentorship to underrepresented female food entrepreneurs.

7. Mars Will Build A Food Tech Research Hub In Israel With Jerusalem Venture Partners – Forbes

The research and development center will help startups scale and commercialize tech solutions that touch any aspect of the global food system, from farming to nutrition.

8. Hybrid VC Firm Big Idea Ventures Wants to Scale the Alternative Protein Revolution – The Spoon

Helmed by Andrew Ive, formerly of Food-X, Big Idea Ventures is a hybrid venture firm with a VC arm and accelerator program. Backed by the likes of Tyson Foods and Temasek, its first fund, the New Protein Fund, has made its first close of $50m.

9. Bayer Nears Seven-Year Low After $2B Award in Roundup Trial – Reuters

Bayer shares fell by as much as 5 percent on Tuesday after a California couple were awarded more than $2 billion in the largest U.S. jury penalty over allegations its Roundup weed killer causes cancer.

10. Trump Readies up to $20B More in Aid to Rescue Farmers From Trade War – Politico

Agriculture Secretary Sonny Perdue announced the possible second round of trade aid to help offset losses from China’s latest retaliatory tariffs late Wednesday.

11. ‘No End in Sight’ for Farmers Feeling Pain of Trump’s Trade War – Bloomberg

Among the hardest hit and most vulnerable to continuing tensions are soybean growers across the U.S. grain belt. Soybean futures on Monday skidded to their lowest prices in more than a decade and are down more than 20% from a year ago.

12. Oatly Brought the Oat Milk Craze to America. Now They’re Hustling Not to Lose Their Grip – The Spoon

Oat milk sales grew by 50% from 2017 to 2018, while almond milk sales grew only 11%. It is now set to usurp almond milk as the top alternative milk in coffee shops around the US.

13. The Problem With Lab-Grown Meat – Slate

Lab-grown meat could end up replicating some of the existing problems with our industrial food system.

14. India: SoftBank Leads $200M Investment in India’s Grofers – Reuters

The investment will be used to scale the company and to compete with competitors by offering more affordable prices.

15. Women, Women of Color & Gender Non-Conforming Innovator Database

We created this open-source list to increase representation, support and investment in women, women of color & gender-nonconforming innovators in food. Join the list & help us spread the word using #womxninfood

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!