Food Venture Financing News - Weekly Issue No. 85
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- The Every Company, an alternative-protein company, announced that it has raised $175 million in its Series C round. The company plans to use the funds to scale production and expand its products nationwide.
- McCain Foods announced a $55 million investment in Strong Roots, a plant-based frozen food company. The partnership between the two entities will allow Strong Roots to expand its products to meet high consumer demand for healthy products.
- A recent survey by Ingredient Communications and SurveyGoo reported that consumers will generally stop purchasing products if the original price has risen by 40%. Consumers are more likely to tolerate higher price increases by 60-65% for essential food items, such as milk, bread, and fresh vegetables.
- Post Holdings has announced that it will open a new manufacturing facility in Ohio, which is expected to create 200 new jobs in the next few years. The facility is expected to cost approximately $86 million.
CPG Corporate Venture and Private Equity Funds
This week's featured program is 1st Course Capital ("1CC").
- 1CC is an early-stage venture capital firm that invests in companies that change "how we grow, produce, and distribute food."
- 1CC's portfolio companies include:
- Bobbie - Infant formula produced using clean and transparent ingredients
- AgriDigital - Commodity trading platform remaking the supply chain for improved traceability and margins for farmers
- Dispatch Goods - Reverse logistics company offering re-usable packaging for restaurant delivery and takeout
Links to Relevant Content and Events
- Perfect Day Subsidiary to Acquire Coolhaus Ice Cream Brand
- Jet.com's Founder Launches Wonder, a Logistics-Driven Bet on The Future of Restaurants
- The Every Co. Raises $175 Million to Scale Production
- NadaMoo! Raises Nearly $10 Million in Series B Funding
- Hooray Foods Raises $2.7 Million in Additional Seed Funding
- After Going Public via SPAC, Controlled Environment Ag Specialist Local Bounti Looks to Disrupt the Produce Business
- Hain Celestial to Acquire Parmcrisps, Thinsters Brands
- Strong Roots and McCain Announce Partnership to Grow Plant-Based Product Range Globally
- Post Holdings, Inc. to Open 215,000 Square-Foot Manufacturing Facility in West Jefferson, Ohio
EVENTS & OPPORTUNITIES
Naturally Los Angeles Officially Launches
Naturally Los Angeles, a community organization dedicated to fostering sustainable business practices and conscious growth across the natural products industry in greater Los Angeles, has formally launched and is looking to bring in new members who will guide the future of the industry locally. Board members at the helm of the organization's inaugural year feature entrepreneurial luminaries including:
- Vanessa Dew, Co-Founder of Health-Ade Kombucha
- Eugene Kang, Co-Founder of Country Archer
- Natasha Case, CEO of Coolhaus
- Greg Fleishman, Investor and Co-Founder of Foodstirs Junk-Free Bakery
Naturally Boulder Programming Event: I Swam with the Sharks... and Survived!
Tuesday, December 14, 2021 | 5:30 - 7:30 p.m. PST
What is it like to swim in the Shark Tank? Join us to hear from Naturally Boulder members who have appeared on the hit TV show and lived to tell about it!
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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