Source: New York Times
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.
To no surprise, the Trump administration has left behind small farmers in its multi-billion Covid relief package. The funding distribution is stark – the top 10% got over 60% of the pot, while the bottom 10% got just 0.26%. Meanwhile, Bayer and Temasek have partnered to form a new venture, Unfold, with $30 million in funding to begin selling seeds to vertical farms.
Joblessness in the hospitality industry remains at Depression-era levels, and Black, Asian, and Hispanic people are still having a harder time finding work than white people.
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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 uneven distribution of funds is stark. The top 10% got over 60% of the pot, while the bottom 10% got just 0.26%.
Unemployment in food and drinking places fell more slowly last month to 21.8%, while the overall jobless rate dropped to 10.2%.
It will focus on areas including seafood and alternative protein sources, aquaculture and supply chain innovation, ecosystem services, traceability and transparency, as well as algae and seaweed.
Unfold has raised $30m in an initial funding round and entering into an agreement for certain rights to germoplasm from Bayer’s vegetable portfolio.
This earnings season saw sales soar. But Uber and Grubhub lost $837m and $45.4m for the quarter, respectively. Delivery Hero is expected to lose more than $800m for the year.
The partnership is in a pilot phase in four markets across California and in Oklahoma.
The analysis gave Tyson 98% on its weighted environmental disclosure ratio. This looks at how much the company tells about its complete operational environmental impact and costs. Hormel got a 99% in this category. Beyond Meat scored a 0%.
A 2016 study reported that all startups raised on average $1.14m during their first funding round. Black startups only averaged $42k. The recent surge in interest and initiatives to support Black-owned businesses offers hope for the future.
The round was led by Viola Growth. New funds will go towards expanding into new markets, building more capabilities into its platform and growing the Thriver team.
Cleveland Ventures led the round. Good Planet Foods plans to use funding to accelerate product development, sales and marketing.
A proposed new rule would allow poultry plants to process diseased chickens. That’s the last thing Americans need.
Check out our list of resources to learn about systemic racism in the food and agriculture industries. We also highlight Black food and farm businesses and organizations to support.
The projects, groups, and organizations that are addressing food insecurity in light of COVID-19.
Six members of the BA Test Kitchen will no longer host videos following Condé Nast’s alleged failure to adequately address inequities.
Indie newsletters are booming, and they are home to some of the most exciting food writing today.