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.
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.
The company’s IPO has left every other debut in the dust, including Uber Technologies’ highly anticipated foray into the public market.
VisVires New Protein led the round in the cultured meat company, with participation from Cargill, Strauss Group and other venture capitalists.
Terms of the deal were not disclosed.
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.
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.
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.
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.
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.
Agriculture Secretary Sonny Perdue announced the possible second round of trade aid to help offset losses from China’s latest retaliatory tariffs late Wednesday.
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.
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.
Lab-grown meat could end up replicating some of the existing problems with our industrial food system.
The investment will be used to scale the company and to compete with competitors by offering more affordable prices.
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