Food Venture Financing News - Weekly Issue No. 79
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content
Food Venture Financing Trends
- Cometeer, a frozen coffee startup company, announced that it raised $35 million in its Series B round.
- BIOMILQ, a foodtech startup developing cell-cultured human milk, announced that it raised $21 million in its Series A round.
- As rising inflation continues to impact the supply chain, Unilever reported that it raised prices of its products by 4.1% in the third quarter of 2021. Unilever expects prices to continue to rise.
- CPG company Swift Prepared Foods announced that it will acquire Sunnyvalley Smoked Meats for $90 million.
- The Vita Coco Company announced that its IPO price has been set at $15 per share, which is lower than the target price per share of $18 to $21.
CPG Corporate Venture and Private Equity Funds
This week's featured program is Food Innovation Network.
- Food Innovation Network, a program of G2L (an SeaTac-based non-profit), aims to enhance the local food system, increase access to healthy foods, and provide support to local food businesses in the diverse communities of SeaTac/Tukwila and South King County. FIN uses a collective impact model to bring community perspective and organizational expertise together in collaboration. FIN's network includes organizations, educational institutions, local government, and community members.
- FIN's Food Business Incubator is a two-year incubator program that supports entrepreneurs from SeaTac/Tukwila and broader South King County (primarily low-income immigrant and refugee communities) in obtaining the required permits, licenses and insurance, and provides a basic business plan to start off with. Additionally, it offers a subsidized kitchen rent, and provides connections to market channels as well. The incubator currently supports 13 businesses.
Links to Relevant Content and Events
- BIOMILQ Raises $21 Million in Series A Funding With Focus on Mission-Aligned Partners
- Abbot's Butcher Secures $7 Million in Series A Funding
- Indianapolis Chocolate Business Lands $5.25 Million in Venture Funding
- Frozen Coffee Startup Snags $35 Million Investment
- Supplant Is Expanding Its Fiber-Based Sugar Throughout the U.S. Following $18 Million Raise
- New York-Based Blank Street Coffee Announces $25 Million Series A Funding
- C3 Partners With Reef Technology to Further Build Ghost Kitchen Network
- Unilever Hikes Prices 'Significantly,' Warns There Is More to Come Amid High Inflation, Supply Chain Challenges
- Swift Prepared Foods Agrees to Purchase Sunnyvalley Smoked Meats, Inc.
- Vita Coco Prices IPO Below Expected Range at $15 Per Share
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.
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