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Food + Beverage

Food Venture Financing News - Weekly Issue No. 79

10.26.21
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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

ARTICLES


  • 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.

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.

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