Source: Impossible Foods

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.

Alpha Food Labs, our sister company, was commissioned by Beef + Lamb New Zealand and New Zealand Winegrowers to understand the current state and future market potential of regeneratively produced food and wine within the United States, Germany and the UK. The research reveals consumers may be willing to pay more for regeneratively-produced food, especially if science can show it tastes better, is better for people’s health and better for the environment.

Sweetgreen announced that it plans to go public by year-end. Despite repeatedly telling reporters it was profitable, the IPO filing reveals that the company lost $142 million on revenue of $220m in 2020 – double the $67m it reported for 2019.

In other news, Impossible Foods is raising a $500 million round, aiming for a whopping $7 billion valuation. Better-for-you ice cream Nick’s has raised $100 million, while plant-based chicken brand Daring Foods has raised $65 million.

Last but not least, a new house report has revealed that coronavirus infections at meatpacking plants were three times as worse as previously believed. An estimated 59,000 workers were infected, and 250 died.

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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. Regenerative Agriculture Market Scan & Consumer Insights Report

Alpha Food Labs, our sister company, was commissioned by Beef + Lamb New Zealand and New Zealand Winegrowers to understand the current state and future market potential of regeneratively produced food and wine within the United States, Germany and the UK. The research reveals consumers may be willing to pay more for regeneratively-produced food, especially if science can show it tastes better, is better for people’s health and better for the environment.

2. The Food IPO Boom Is Already Looking a Bit Spoiled. Is Sweetgreen Next? – Forbes

Sweetgreen plans to go public by year-end, and there is little to suggest it will outperform. Last year, it lost $142m on revenue of $220m in 2020 – double the $67m it reported for 2019.

3. Impossible Foods Eyes $7B Valuation in Fundraising – Bloomberg

The company is in talks to raise about $500m following its expansion into grocery stores including Walmart, Kroger, Albertsons and Trader Joe’s, as well as restaurants such as Jack in the Box and Burger King.

4. Sweden: Nick’s Closes $100M Funding Round – Food Dive

The Swedish company known for its better-for-you ice cream and snack bars plans to accelerate its US expansion and invest in more R&D.

5. Daring Foods’ Latest Funding Round Brings Its 12-Month Total to $120M for Vegan Chicken Expansion – Green Queen

The funding comes as the brand announced placement in 3k Walmart locations across the US. The brand’s product uses five ingredients compared to competing vegan chicken products on the market.

6. Food Companies Could See $3B in Monthly Sales Vanish, As Low-Income Households Get Squeezed – CNBC

Shoppers who are part of the SNAP program are feeling new pressure to stretch their dollars because of rising food prices and dwindling bank accounts.

7. Covid Cases and Deaths Grossly Underestimated Among Meatpackers – Washington Post

The coronavirus infected 59k workers at the country’s top meatpacking companies and killed more than 250 – three times as many cases as previously believed.

8. $8T Nature-Based Solutions Market Rises Up the Global Agenda with Launch of Policy and Investment Tracker – Forbes

Nature4Climate and Metabolic have launched the world’s largest nature policy tracker ahead of COP26, in order help governments and investors target billions of dollars towards natural climate solutions.

9. Kurly, the Korean Online Grocery Startup, Plans June IPO at Estimated $5.9B Valuation – TechCrunch

The company, which will continue to focus on its business in the home market, does not have an overseas expansion plan.

10. Some Fast Food Items Contain Plastics Linked to Serious Health Problems – Washington Post

Chemicals used to make things like rubber gloves, industrial tubing or food conveyor belts find their way into fast food menu items.

11. Farmer Marketplace DeHaat Scores $115M in India’s Biggest-Ever Agtech Round – AFN

DeHaat provides 650k smallholders with a variety of agribusiness-related services, and employs 3k rural micro-entrepreneurs to handle logistics.

12. UAE Indoor Farmer Pure Harvest Nets $65M to Fund Asia Expansion – AFN

Pure Harvest will add over 100 crops to its portfolio, as well as new CEA technologies, through its collaboration with PlanTFarm.

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