Image source: Green Queen

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.

China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, it has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in, paving the way for much-needed funding increases for the sector.

Vertical farming startup Plenty has raised a whopping $400 million dollars. Walmart, who invested in the latest round, will begin to carry its leafy greens in all California stores this year.

A new study has found that plant-based alternatives have the potential to represent 6% of meat consumption by 2030. The sector would need $27 billion investments in infrastructure in order to supply the demand.

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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. China’s 5-Year Agricultural Plan to Include Cultivated Meat and ‘Future Foods’ for the First Time – Green Queen

China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, the plan has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in.

2. Walmart Makes an Investment in Vertical Farming Startup Plenty – CNBC

The investment is part of a $400m round of funding. Walmart plans to carry its leafy greens in all California stores this year.

3. Plant-Based Ingredients Need $27B in Infrastructure Investments to Meet 2030 Demand – Food Dive

The Good Food Institute found that if the segment keeps growing at current rates, these alternatives will represent 6% of meat consumption in eight years.

4. Unovis Asset Management Closes $166M Fund, Warns Alt Protein Investors Should Avoid Ego Driven Valuations – Forbes

Alternative protein-focused VC, Unovis Asset Management, has closed an oversubscribed $166m fund II, but warns ego-driven valuations and the mentality of rushing to exits in the sector could damage founders’ well-intentioned impacts.

5. UK: Zapp Snaps Up $200M to Supersize Its Instant Grocery Play – TechCrunch

China’s Ministry of Agriculture and Rural Affairs has published its eagerly awaited national plan. Acting as a blueprint for future developments, innovations and national economic strength, the plan has specifically included cultivated meat and ‘future foods’ as sectors to actively participate in.

6. 3D-Printed Plant Steak Startup Raises Funds to Chase Carnivores – Bloomberg

Israeli startup Redefine Meat has raised $135m in new funding for its roll out of 3D-printed plant-based steaks across Europe. New funds will help build out a factory in the Netherlands.

7. Belgium: Deliverect Raises $150M at a $1.4B+ Valuation to Streamline Online and Offline Food Orders – TechCrunch

The company works with independent and large chains to streamline ordering and delivery. It plans to expand beyond Europe and into the US soon. It has recently begun to offer its services to CPG companies as well.

8. Purely Elizabeth Raises $50M for Expansion – Food Dive

The company said it plans to expand its existing SKUs in nutrient-dense breakfast food categories, as well as launch into a yet-to-be-announced category.

9. Starship Technologies Picks Up €50M from the EU’s Investment Arm to Expand Its Fleet of Autonomous Delivery Robots – TechCrunch

Campus deployments make up a majority of Starship’s business, but signs are pointing to a shift towards grocery.

10. Kula Bio Closes $50M Series A to Further Develop Its Low Emission Biofertilizer – AFN

The startup says its alternative to traditional nitrogen fertilizer is crop-agnostic, non-GMO and cost-effective for farmers.

11. As Regulations Gets Closer, Upside Foods Acquires Cultivated Seafood Company Cultured Decadence – Green Queen

Cultured Decadence has developed cell lines and feed for the creation of high-end crustaceans. It will now adopt Upside’s brand name and bring seafood products to its portfolio.

12. Aavishkaar Capital to Launch $250M ESG Fund to Invest in Asia, Africa – Deal Street Asia

The firm has already made the first close at $55m and plans to raise the targeted capital over the next 2 years.

13. Investigators Probe Alleged Fraud Involving Over $240M in Federal Child Nutrition Dollars – The Counter

A Minnesota non-profit was paid to feed thousands of hungry children every day during the pandemic. Federal investigators allege that the meals never materialized.

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