Image 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.
Russia’s invasion of Ukraine is threatening the global food supply, specifically for low-income countries that rely on wheat and fertilizer imports from that region already suffering from pandemic-related supply chain disruptions.
Last but not least, chefs and restaurants have hopped onto the NFT train, minting everything from recipes to exclusive dining clubs.
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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.
After only days of fighting, global commodity markets have been roiled. Shipping in the Sea of Azov was brought to a standstill last week. Wheat futures jumped 12% on the Chicago Board of Trade. This increase topped already inflated prices.
Chefs like Tom Colicchio are minting NFT pizzas, recipes and even limited-edition gin bottles. But is the rest of the food world along for the ride?
Coming off of a year where monthly active users grew 150% year over year, multicultural e-grocer Weee! secured $425m in funding, boosting its valuation to $4.1b.
Alt protein companies raised $5b worldwide, with $312m invested in APAC. Highlights included a 60% increase in funding into the sector on a global level, with fermentation and cultivated projects claiming more funding than ever before.
The company plans to expand its current footprint in the US and Europe, double down on more markets and exploring new form factors and a wider range of business models.
War in Ukraine, Europe’s breadbasket, may reverberate to an unlikely place: the American organic chicken refrigeration case.
A newly revamped store in Washington shows how thoroughly Amazon has woven itself into the grocery shopping experience.
Bbot makes order-and-pay software for restaurants and other hospitality venues. The acquisition is the first since DoorDash bought Wolt for $8b in November 2021.