Source: Plenty

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.

Plenty Unlimited has raised $140 million in new funding to build its vertical farms across the US. The funding comes after it solidified agreements with Driscoll’s and Albertsons.

Instacart has surpassed Target and Kroger in online grocery delivery. The online retailer recently raised $200 million from D1 Capital and Valiant Peregrine Fund to fuel its growth.

Panera Bread has become the first national chain to label its menu items as “Climate-Friendly,” a badge developed in partnership with the World Resources Institute.

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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.

1. Plenty Has Raised Over $500M to Grow Fruits and Veggies Indoors – TechCrunch

The company has raised $140m from SoftBank Vision Fund and Driscoll’s, among others. Funding comes as it has inked agreements with Driscoll’s and Albertsons. It plans to build a new farm in Compton, California.

2. Instacart Raises $200M More at a $17.7B Valuation – TechCrunch

D1 Capital and Valiant Peregrine Fund led the round. Funding will be used to focus on introducing new features and tools to improve the customer experience, and further support Instacart’s enterprise and ads businesses.

3. Livekindly Collective Receives Funding of $135M to Expand Its Portfolio Brands into USA – Vegconomist 

Blue Horizon Corporation led the round. Funding will be used to increase capacity and accelerate US distribution of its portfolio brands and the development of new products.

4. Sustainable Food SPAC Natural Order Acquisition Files for a $250M IPO – Nasdaq

The blank check company focuses on tech and products related to sustainable plant-based food and beverages.

5. Hong Kong: Omnipork Partners with McDonald’s in the Creation of Its First Ever Vegetarian Menu – Vegconomist

McDonald’s Hong Kong will incorporate OmniPork Luncheon into over 280 outlets of McDonald’s and 122 outlets of McCafé in Hong Kong and Macau.

6. Panera Bread Becomes First National Chain to Label Entrees As Climate Friendly – CNBC

Dishes that have a footprint of less than 5.38kg of carbon dioxide equivalent will carry a badge proclaiming the entree a “Cool Food Meal.”

7. Instacart Is Surpassing Target and Kroger in Online Grocery Delivery – Quartz

Even as many states have been easing lockdown measures, 32% of respondents indicated they had purchased groceries online, up from 18% the previous year.

8. Trump Funnels Record Subsidies to Farmers Ahead of Election Day – New York Times

Federal payments to farmers are projected to hit a record $46b this year. Debt in the farm sector is projected to increase by 4% to a record $434b this year and farm bankruptcies have continued to rise across the country.

9. Canada Will Ban Single-Use Plastic Items by the End of Next Year – CNN

The move is part of a larger effort by the nation to achieve zero plastic waste by 2030.

10. Dollar General to Open New Stores Targeting Wealthier Shoppers – CNN

The new stores feature a range of home and beauty goods, the majority of which will be priced around $5. It is launching its first two Popshelf stores in Nashville and plans to open another 30 by the end of next year.

11. World Food Program Awarded Nobel Peace Prize for Work During Pandemic – New York Times

The Nobel committee said the UN agency’s work to address hunger had laid the foundations for peace in nations ravaged by war.

12. McDonald’s, Chipotle and Domino’s Are Booming During Coronavirus While Your Neighborhood Restaurant Struggles – Wall Street Journal

A health crisis is creating a divide in the restaurant world. Big, well-capitalized chains are thriving while small independents struggle to keep their kitchens open.

13. Food & Ag Anti-Racism Resources + Black Food & Farm Businesses to Support

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.

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