Food Venture Financing News - Weekly Issue No. 69
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Foodtech and agritech companies continue to attract investment in 2021. Companies in the sectors of alternative proteins, functional beverages, vertical farming, alcohol tech, and food/beverage delivery companies have driven the investment interest in foodtech and agritech.
- Miyoko's Creamery announced that it closed its $52 million Series C financing, and plans to use the capital to expand its product distribution and create new plant-based dairy products.
- As the COVID-19 pandemic continues to accelerate again, Tyson Foods reported that it will require its U.S. workforce to be fully vaccinated this year and will provide $200 compensation to its frontline workers.
- PepsiCo announced that it will enter into a joint venture worth $3.3 billion with private equity firm PAI Partners for certain juice brands such as Tropicana and Naked.
- Beyond Meat expects a slight drop in its revenues in the third quarter of 2021 ($120-140 million) as compared to the second quarter of 2021 ($149.4 million) due to uncertainty of the delta variant and certain distribution reductions with Dunkin.
CPG Corporate Venture and Private Equity Funds
This week's featured corporate venture and private equity fund is Organic Food Incubator.
- Organic Food Incubator™ (O.F.I.) is a food manufacturer and incubator based in New York. It has over 25 years of experience assisting other startups, restaurants, entrepreneurs, and small businesses with gaining the resources they need to strive in this industry.
- O.F.I. offers unique manufacturing solutions to businesses and entrepreneurs. Their facility is available to rent for organic and conventional food companies that are in need of access to commercially licensed, certified organic, and kosher-certified kitchens to help grow their business.
- O.F.I. provides assistance with the following:
- Food & Beverage Manufacturer
- Coaching & Training
- First Production Run
- Kitchen Workspace & Storage
- Food Prep Team
- Product Certifications
- Business Growth Consultation
- BAO Cultured
- Jersey Barnfire
Links to Relevant Content and Events
- Beeflow Raises $8.3 Million to Save the Bees and Put Them to Work
- NovoNutrients Raises $4.7 Million to Complete Its Pilot Program for Alt-Protein Made From CO2 Inputs
- Meati Must Meet Manufacturing & Scale Challenges Head on After Its $50 Million Series B Coup
- ConverseNow Raises $15 Million for Restaurant AI Assistant Tech
- Next Gen Foods Announces $20 Million Extended Seed Round as It Brings ‘TiNDLE’ Plant-Based Chicken to the U.S.
- AppHarvest Secures $91 Million Financing to Fuel 2025 Indoor Farming Ambitions
- Farm Tech Investing Is Accelerating Faster Than Food Tech and General VC - New Report
- Inflation Is Changing Purchasing Behavior for Majority of Consumers, Numerator Reports
- Food Tech Pioneer NotCo Announces $235 Million Series D Round at $1.5 Billion Valuation
- Plant-based Cheese Maker Nobell Foods Raises $75 Million for Expansion
- Millennium Food-Tech Partnership Leads $3.5 Million Series A Round in Yofix
EVENTS AND OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series:
Sampling Is Back! Now What?
After 15+ months without demos and lifestyle events, brands now have opportunities to sample their products to shoppers in store and other venues. How should a natural brand evaluate opportunities? How does sampling fit in with the increase in digital marketing and e-commerce?
Naturally Bay Area's 2021 Quick Bites Series:
CPG Corporate Venture Funds: How Big Food Invests in Emerging Brands
Wednesday, September 15, 12:00 - 12:45 p.m. PST
Hear how the venture investment arms of leading global food companies are supporting emerging food brands with investment capital and both strategic and operations resources.
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.