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.
Big meat continues to place its bets on plant-based proteins with news this week of Kellogg launching a plant-based bleeding burger under its Morningstar line and Hormel launching plant-based ground beef. Tyson has invested an undisclosed sum into plant-based shrimp maker New Wave Foods. Cargill has poured $75 million into North America’s largest pea protein maker and Beyond Meat Supplier, Puris.
The leading US cultured meat companies – JUST, Memphis Meats, Finless Foods, BlueNalu, and Fork and Goode – have joined to form the Alliance for Meat, Poultry, and Seafood Innovation.
In retail news, Bellwether Coffee has raised $40 million to meet global demand for its electric coffee roasters. Meanwhile, Amazon is testing a fingerprint checkout technology called “Orville” that aims to roll out in Whole Foods early next year.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
Early next year, Kellogg’s Morningstar Farms will begin selling the “Incogmeato” burger: a plant-based, refrigerated patty made with non-GMO soy that is designed to mimic meat’s look and flavor.
After selling its stake in Beyond Meat in the spring, Tyson Foods’ next bet is on plant-based shellfish. Tyson Ventures is investing an undisclosed sum in New Wave Foods.
Hormel Foods is launching a non-GMO meat substitute made with soy protein that can be used in any recipe calling for ground meat under its new Happy Little Plants brand.
The new investment will allow Puris to more than double its pea protein production.
JUST, Memphis Meats, Finless Foods, BlueNalu, and Fork and Goode have joined to form the Alliance for Meat, Poultry, and Seafood Innovation. The group will lobby on behalf of cell-based meat interests and drive efforts to educate the public.
DBL Partners and Lyndon and Peter Rive led the round. The funds will accelerate the company’s efforts to boost incomes for coffee farmers, eliminate roast processes harmful to the planet and meet global demand for its electric roaster.
Ospraie Ag Science and S2G Ventures led the round. Funding will go towards advancing Actigate, its targeted crop protection technology.
The six-year-old startup added its first city outside North America on Wednesday, launching in Melbourne and announcing plans to grow its business in Australia over the next year.
Regenerative practitioners say that healthy soil eventually leads to reducing synthetic chemicals. But some advocates say those chemicals have damaging effects and should be addressed.
Newlight Partners led the round. In addition to fueling the completion of its first US facility in Maryland, the new capital will be used to help expand into other metropolitan areas.
Following on the heels of a partnership with FreshDirect, the round was led by Amerra Capital Management. The funds will lay the foundation for expanded processing capabilities and collaborative work with scientists to improve industry practices.
The tech and retail giant is currently testing a system called “Orville” that allows Amazon Prime users to scan their hands to ring up a purchase. It’s currently being tested at its New York Office.
The 80 topics that will be addressed exclude the health effects of consuming red and processed meat, ultraprocessed foods and sodium.
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Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams. Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.
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