Image source: CNBC
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.
Shortly after Beyond Meat’s stunning IPO, Impossible Foods took the stage with a $300 million investment from investors including celebrities and athletes, bringing it to a new valuation of $2 billion. The plant-based meat maker also announced its launch of the Impossible Sausage atop Little Ceasars’ Pizza.
New reports have revealed that US organic sales rang up a record $52.5 billion in 2018, and that upcycled food waste is worth up to $46.7 billion.
More wins have been made for the war against single-use plastic with news that Whole Foods is banning all plastic straws from its 500 stores. In addition, the Loop initiative by Terracycle has arrived in the US, bringing on Kroger and Walgreens as partners.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
For the first time since introducing its meatless burger in 2016, Impossible Foods is launching a new product: The Impossible Sausage. It is making its debut as a topping on Little Caesars’ $12 Impossible Supreme Pizza.
Transparent and sustainable products from companies that embrace social activism, sales of organic food and non-food products shattered records and moved into mainstream markets in 2018, ringing up more than $50b in US sales.
The food delivery app has raised up to $1.53b to date. The new investment would offer restaurants new opportunities to grow and expand their businesses.
The beverage industry in both North America and Europe are poised to see the most lucrative growth from new diversion techniques and interest in rejected fruits. Bakery is the second ripest segment.
Ford is teaming up with Agility Robotics to explore a brand-new frontier in the world of autonomy with Digit, a lightweight robot capable of lifting up to 40 pounds and folding itself up to fit in the back of a self-driving vehicle.
Despite concern at its high losses and little chance of near-term profitability, Luckin seems to have been greeted positively by investors.
The brand is launching Frozen Creamy Almond Bars exclusively at Wal-Mart. It does not contain artificial sweeteners, sugar alcohols or genetically engineered ingredients.
The retailer will stop offering plastic straws across all 500 stores in the US, UK and Canada. It will instead offer paper straws beginning in July.
The round, led by PivotNorth Capital, brings the company’s total raised to $125m. Its latest infusion of capital will be used to expand their offerings to include personalized breakfast, lunch and dinner.
The plant-based meal kit maker was acquired by Oisix ra daichi last month. The deal includes an upfront payment of $12.8m, and a potential for an additional $17m by 2021 if unspecified earnings goals are met.
The company’s ability to fundraise at a higher price signals investors’ confidence, despite Uber’s poor reception on Wall Street.
The company behind the conversational AI platform netted cash from Insight Partners, DFJ Growth, Drive Capital, Hyde Park Venture Partners and others. Clinc plans to reach 140 employees by the end of 2019.
Spark Capital, GV and Burst Capital led the round. The new funding will enable it to roll out in Phoenix, Las Vegas and Chicago this year.
Agrilyst – which has re-branded to Artemis – has closed Series A funding co-led by Astanor Ventures and Talis Capital. The round will be focused on helping the startup secure its foothold among large-scale growers.
In its decision to approve two drugs for orange and grapefruit trees, the EPA largely ignored objections from the CDC and the FDA, which fear that expanding their use in cash crops could fuel antibiotic resistance in humans.
The retailers have joined the Loop platform, a service that gives shoppers the opportunity to buy products in reusable packaging. It’s launching as a pilot program in New York, New Jersey, Pennsylvania, Maryland and Washington, DC.
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