In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Olio, a prominent food-sharing app, recently announced that it raised $43 million in its Series B round. The company plans to use that funding to develop new features in its core product and expand the app internationally.
- Food delivery companies continue to grain traction and attract investment. CookUnity, a chef-prepared meal delivery startup, announced that it closed its $47 million Series B round.
- Kellogg announced plans to invest $45 million to restructure its North American supply chain and expand its cereal business as demand for cereal products increased during the pandemic.
- Royal DSM reported that it will acquire First Choice Ingredients, a dairy-based savory flavorings company, at a valuation of $453 million.
CPG Corporate Venture and Private Equity Funds
- This week's featured program is Food Centricity.
- Food Centricity, based in Southern California, is an accelerator that assists early- and growth-stage food and beverage companies in the pre-revenue to $5 million per year range.
- Food Centricity focuses on packaged goods companies targeting direct-to-consumer or wholesale channels, and is particularly interested in functional or plant-based products and technologies.
- Companies that have been assisted by Food Centricity include:
- Kevita
- Tea Botanics
- Tribali Foods
- Foodstirs
- Modern Bite
Links to Relevant Content and Events
ARTICLES
- Honey Mama's Closes $10.3 Million Series A With Follow on Investment From Amberstone
- Plant-Based Chicken Maker Raises $4.5 Million
- Wild Earth Launches Cell-Based Pet Food as It Raises a Fresh $23 Million
- Plantible Raises $21.5 Million to Scale Duckweed-Based Protein
- U.S.-Israeli Agtech Startup Fieldin Raises $30 Million in Series B Led by Fortissimo Capital
- The Week in Food Tech Funding: Olio Continues Food Waste's Hot Streak
- CookUnity Whips Up Nationwide Expansion Following $47 Million Round
- Kellogg Investing $45 Million to Revamp North American Supply Chain
- DSM to Acquire First Choice Ingredients to Accelerate Growth in Food and Beverage
EVENTS & OPPORTUNITIES
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
Meet the thought leaders that will be joining us next Wednesday for an overview of CPG corporate venture activity in the food and beverage sectors, and the work that leading CPG corporate venture funds are doing in these sectors.
Naturally Bay Area board member Don Buder, Partner at Davis Wright Tremaine LLP, will lead the conversations with the featured panelists:
- Tapan Shah, Director of Venture Capital, Snack Futures at Mondelēz Interational
- Simon Burton, CFA, Managing Director, eighteen94 Capital (Kellogg Company's venture arm)
Want to hear more from these incredible experts? Join us next Wednesday (9/15) from 12 - 12:45 p.m. PT by registering below.
Naturally Network: Harnessing the Power of Community
by Naturally Network
Friday, September 17, 1:00 - 2:00 p.m. PDT
Join us and these industry veterans as they share tips on how they tapped into their communities to gain success and how you can do the same.
- Ayeshah Abuelhiga of Mason Dixie Foods
- John Foraker of Once Upon A Farm
- Pete Speranza of Wicked Foods
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.