Food Venture Financing News - Weekly Issue No. 65
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Although consumers have started returning to grocery stores, demand has not reached pre-pandemic levels according to a recent report by Placer.ai.
- Better Juice, a foodtech company that naturally reduces sugars from fruit juices, raised $8 million in its recent funding round, a further indication of consumers' preferences for healthier diets and reduced sugar intake.
- The IPO market is becoming increasingly receptive to food and beverage companies. Chobani announced that it filed a confidential registration statement with the SEC in preparation for its public offering.
- Plant-based meat companies continue to expand their market share and financial reserves. Aleph Farms, a cell-based cultivated meat startup, closed its $105 million Series B round. Meati, a whole-cut meat alternative startup, raised $50 million in its Series B round.
CPG Corporate Venture and Private Equity Funds
This week's featured corporate venture and private equity fund is Chobani Incubator.
- Chobani Incubator gives startups investment capital and access to its network and expertise in order to scale operations and achieve significant growth.
- Chobani Incubator looks for:
- Companies creating delicious, nutritious, natural and accessible food
- Purpose-driven companies that want to deliver better food to more people
- Products that are accessible and affordable to all
- Representative companies include:
- A Dozen Cousins
- Sherpa Foods
- Bread SRSLY'
- Holmes Mouthwatering Applesauce
Links to Relevant Content and Events
- Better Juice Raises $8 Million to Cut Sugar in Orange Juice
- Meati Secures $50 Million to Scale Mycelium-Based Meats
- L Catterton Wraps Deal for Kodiak Cakes
- Califia Farms Secures $50 Million Investment
- C3 Partners With Reef Technology to Further Build Ghost Kitchen Network
- Russian Food Tech Startup Scoops $46 Million for U.S. Launch
- Agro.Club Raises $5 Million to Accelerate International Expansion of Its Cloud-Based Agriculture Solutions With Embedded Finance
- Foot Traffic at Whole Foods Rebounds, but Still Remains Lower Than Pre-Pandemic Levels
- Food Maker Chobani Files Confidential Registration Statement for Proposed Initial Public Offering
- Soda 2.0: Nostalgic Flavors, Low Sugar, and Functional Health Benefits… The Meteoric Rise of Olipop
EVENTS AND OPPORTUNITIES
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.
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.
Plant Futures Initiative
- Plant Futures Initiative (PFI) is a collaboration of UC Berkeley's Center for Responsible Business and Ideagarden Institute, a 501(c)(3) non-profit organization.
- Its mission is to educate, equip and empower the next generation of ethical leaders and entrepreneurs to accelerate transitions to healthy, regenerative and just food systems.
- PFI will provide the missing bridge between college education and rewarding jobs for the next generation of entrepreneurial leaders in the plant-based food sector.
- The next Plant Futures Symposium will be held online on January 14-15, 2022.
- PFI Challenge Lab industry partners are being recruited now for specific problem-solving projects that student teams can be deployed to run.
- Contact Will Rosenzweig at firstname.lastname@example.org for additional information.
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.
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.