Source: Toast

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.

Retail news made headlines this week – Blue Apron is exploring strategic options including putting itself up for sale. Ahold Delhaize USA announced it is shutting down the Midwest division of its online grocery business, Peapod.

The valuation of Boston startup Toast has climbed to $4.9 billion with its $400 million Series F funding. The company plans to expand its offerings to include financial products to fund restaurant business growth.

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. Payments Tech Provider Toast Raises $400M at $4.9B Valuation – Wall Street Journal

The round was led by Bessemer Venture Partners and TPG, in addition to Tiger Global Management and Greenoaks Capital. The company plans to expand its offerings to include financial products to fund restaurant business growth.

2. Blue Apron Eyes Options Including a Sale – Wall Street Journal

The company is exploring strategic options including putting itself up for sale, after the meal kit maker reported more customer defections and another quarterly loss.

3. Peapod Shutting Down Online Grocery Shopping and Delivery in the Midwest – The Spoon

Ahold Delhaize USA announced this week that it is shutting down the Midwest division of its Peapod online grocery business. The operation accounted for $97m of the company’s overall $1.1b in revenue.

4. Liquid Death Raises $9M to Make Canned Water Cool – TechCrunch

Velvet Sea Ventures led the round. The startup is expanding its lineup with a sparkling water can.

5. China: HungryPanda, a Food Delivery App for Chinese Communities, Raises $20M – TechCrunch

83North and Felix Capital led the round. Funding will be used on hiring, product development and global expansion, particularly in the US.

6. Israeli Seed Breeder Equinom Closes $10M Series B – AgFunder

BASF Venture Capital led the round. The company will be releasing a high-protein pea variety in 2021.

7. Green Queen Releases First-Ever Asia Alternative Protein Report – Green Queen

From market trends to the latest “2.0” alternative protein startups, accelerators and potential areas for further innovation, the report is the most comprehensive look at the alternative protein industry in Asia to-date.

8. Singapore Budgets $215M to Support Deep-Tech Startups – E27

This will include emerging technologies such as biopharma, medtech, advanced manufacturing and agrifood tech and will help them gain better access to capital, expertise and industry networks.

9. Los Angeles-Based ‘Deep Tech’ Investment Firm Riot Ventures Is Raising a $75M Fund – TechCrunch

The fund invests in startups applying innovations in automation, artificial intelligence, computer vision, computational biology, material sciences and robotics to industrial products and processes.

10. This Bacon Looks Like the Real Thing As It Sizzles – but It’s Made from Fungus – Fast Company

Prime Roots has launched limited sales of its first product – a fungi-based bacon – online today.

11. Walmart to End Jetblack Shopping Service – Wall Street Journal

The retail giant is shutting down its personal shopping unit, which offers fast product delivery on orders placed through text message, and laying off most of its roughly 350 staffers after abandoning plans to find investors for the unprofitable operation.

12. Bayer, BASF Ordered to Pay $265M in Weedkiller Crop-Damage Suit – Wall Street Journal

A jury ruled against Bayer and BASF in a crop-damage case, awarding $265m to a Missouri peach farmer who claimed the companies encouraged farmers to irresponsibly spray a hard-to-control weedkiller.

13. US Watchdog to Investigate Trump’s Farm Bailout Program – New York Times

The Government Accountability Office will review how the $28b farm bailout aimed at cushioning trade-related losses was spent.

Our newsletter is the absolute easiest way to stay on top of the emerging sector, so sign up for it today and never miss the latest food tech and innovation news and trends, Already signed up? Share the love with your friends and colleagues!