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.
Just three months after raising $400 million, DoorDash has closed another $600 million, valuing the company at a whopping $12.6 billion. The company only became a unicorn last year when it was valued at $1.6 billion.
In retail news, Kroger has announced it will be eliminating all plastic bags by 2025.
And finally, the FDA is scheduled to have a hearing with 140 testifying on whether companies can add CBD to food, beverages and dietary supplements.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
The delivery startup now has an extra $600m in firepower to continue gaining market share in the US and Canada. The company was valued at $1.4 billion just last year. New investors Darsana and Sands Capital participated in the round along with existing investors.
The retailer will phase out the use of plastic bags in its stores by 2025. The grocer orders about 6b bags each year.
The FDA is taking its first big step toward deciding whether companies can add CBD to food, beverages and dietary supplements.
Financial terms were not disclosed. The Panorama brand will join a growing list of sustainable premium meat companies within Perdue Farms.
Crowdfunding investment platform OurCrowd is joining forces with agri-food technology investor Finistere Ventures and two food and beverage companies to invest $100m in Israeli startups.
Europe’s agrifood tech ecosystem raised just 9% of the funding that went to foodtech and agtech startups globally in 2018.
Long known for stoner-hinting flavors such as Bonnaroo Buzz, Phish Food and Half Baked, the ice cream maker plans to add cannabidiol to its products as soon as it is legalized at the federal level.
Locations in Burger King’s Impossible Whopper test market, St. Louis, outperformed the chain’s national foot traffic average by 18.5% in April.
Dalus Capital led the round, which will help DecisionNext build out its sales team so that it can expand on its existing markets in North America, Asia Pacific and Europe.
JUST has launched in China, following rollouts in the North American and European markets.
The retailer gets in on the meatless meat hype with its latest product range, featuring sausage, burgers and more.
We’ll be tracking policy positions and public statements so you don’t have to.
Surplus processed foods, meat and dairy are slated for distribution to food banks, schools and other entities that serve low-income individuals. About $14.5b will be direct payments to producers of grain and oilseeds, dairy and tree nuts.
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