Food Venture Financing News - Weekly Issue No. 63
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- According to a recent report by PitchBook, foodtech deals have accelerated in the first half of 2021. Foodtech companies have raised more than $16 billion globally, which equates to approximately 86% of the funds raised by foodtech startups in 2020.
- Along with increased venture financing activity, more food and beverage companies are going public. Zevia, a zero-calorie beverage product, announced that the company is preparing for an initial public offering after it filed its S-1 statement last week.
- A recent report by the Food Industry Association notes that 44% of consumers prioritize health and wellness when preparing meals, and 41% of consumers plan to cook more meals at home in the future, signaling the trend in health and wellness brands.
- The EPA announced that it will prioritize food waste reduction as part of the Biden administration's goals to reduce carbon emissions. The EPA has invested approximately $3 million to tackle food waste through anaerobic digestion and plans to invest an additional $2 million next year.
CPG Corporate Venture and Private Equity Funds
This week's featured corporate venture and private equity fund is Bread and Butter Ventures.
- Bread and Butter Ventures is a venture capital firm based in Minnesota. It focuses on early-stage companies while investing globally in the following sectors: Ag/Food Tech, Health Tech, and Enterprise Technologies.
- Portfolio companies include:
- ALCHEMY 365
- Bizzy Coffee
- EarthSense Agricultural Intelligence
- Bread and Butter Ventures' values include:
- Seek out and celebrate vision, look for bold ideas, and support those who want to change the world.
- Be direct — encourage transparency, act with decisiveness, and lead with an honest steadiness.
- Act with empathy and humility by calling on our own experiences, staying down-to-earth, and remaining accessible.
- Emphasize performance- and data-driven decision making and goals while maintaining a proactive, continuous improvement-based approach to business.
- Build and prioritize the many members of the Bread and Butter family. Celebrate teamwork, support quality of life, work with people we value, and have fun.
- Value and support community by consistently giving first, championing our home, and practicing gratitude.
Links to Relevant Content and Events
- Why OLIPOP Believes Soda Can Change the World's Digestive Health
- Microwave Popcorn Startup Opopop Raises $5 Million Ahead of Product Launch
- Aura Bora Raises $2 Million in Seed Funding
- Grocery E-Commerce Firm ShopHero Acquired by Dot Foods
- E-Grocer Hungryroot Raises $40 Million to Fuel Personalized Platform
- SIMULATE, Maker of NUGGS Plant-Based Chicken, Raises $50 Million
- TerraClear Raises $25 Million to Help Farmers Get Rocks Out of Their Fields
- Pensa Systems Raises $11 Million to Expand AI and Drone Retail Shelf Monitoring
- Hormel Finalizes Deal for Planters
- Frito-Lay to Create 160 Jobs With Rosenberg, Texas, Plant Expansion
- 'Delightful Yet Peculiar': $2 Million Seed Funding Is Positive Affirmation for Aura Bora's Unique Spot in Sparkling Water Set
EVENTS AND OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series
Leading Your Team Through the Transition Back to the Office
Wednesday, June 30, 12:00 - 12:45 p.m. PST
Anxious about how your team is going to navigate the transition to whatever form of in-person work your company is planning? You aren't alone. Join this discussion with industry leaders in a timely conversation about the return to the workplace.
As the state is opening up and companies are starting to head back into the office, business leaders are left to consider how to safely and legally keep their workforce happy, healthy, and productive. Panelists will share insights on adopting a hybrid remote/in-person model, how to ensure a smooth transition to the office, what employers can ask about vaccine status, and ideas for accommodating unvaccinated or high-risk individuals. Hear what other companies are doing, and things to consider for your own plan.
- Kimberley Fetzer, "Keeper of Culture," Human Resources & Office Manager, Guayakí
- Mark Berry, Senior Human Resources Specialist, Insperity
- Peter Zaretskiy, Safety Service Manager, Insperity
Project W – Emerging Food Brands Lab
June 10 – July 29, 2021
DWT is excited to announce that Project W is bringing its signature programming to female founders in the food and beverage sector through our first Emerging Food Brands Lab. Developed in collaboration with DWT's Food + Beverage practice, this multi-week program has been crafted to help female founders take their brand to the next level through workshops dedicated to scaling production, optimizing distribution networks, and raising capital.
CIA's Menus of Change Leadership Summit
June 22 - 24, 2021
Jeffrey Sachs, PhD, professor and director of the Center for Sustainable Development at Columbia University, will be joining the Menus of Change® Leadership Summit: Virtual Edition, June 22–24, to provide his insights on how building sustainability into your business benefits your guests, the planet, and most importantly, your bottom line. Twice named one of Time Magazine's most influential world leaders, ranked by readers of The Economist as one of the top three most influential living economists, and recipient of the 2015 Blue Planet Prize.
Barilla Seeks Participants for Accelerator Program
Barilla's venture unit Blu1877 and San Francisco-based incubator KitchenTown are seeking startups to take part in their Good Food Makers global accelerator program. The program will be focused around four challenges related to meal routines, the circular economy, nutrition guides, and food delivery.
Please check out DWT's newly re-launched Startup Law Blog
At DWT, we are proud to have one of the largest Food & Beverage legal practices in the country, with over 40 attorneys representing food innovators, entrepreneurs, and investors at every level of the food chain, from Farm to Label.
Please contact our Food and Beverage team if we can assist you in any way in these unprecedented times.
The facts, laws, and regulations regarding COVID-19 are developing rapidly. Since the date of publication, there may be new or additional information not referenced in this advisory. Please consult with your legal counsel for guidance.
DWT will continue to provide up-to-date insights and virtual events regarding COVID-19 concerns. Our most recent insights, as well as information about recorded and upcoming virtual events, are available at www.dwt.com/COVID-19.