Food Venture Financing News - Weekly Issue No. 97
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- KoRo, a direct-to-consumer foodtech startup company, raised $55 million in its Series B round. The company plans to use the capital to expand its global presence and develop products.
- Resugar, a foodtech startup that produces an all-natural sugar substitute, raised $3 million in its Series A round.
- The National Confectioners Association reported that consumers spent a record $36.9 billion on candy in 2021. The association predicts that candy sales will increase to $44.9 billion by 2026.
CPG Corporate Venture and Private Equity Funds
This week's featured program is PINC Group.
- PINC is Paulig's (a Finnish family-owned food and beverage company) venture arm for early stage investments in the future of food. PINC's objective is to help Paulig renew itself and prosper as well as contribute to a tastier, healthier and more sustainable planet.
- PINC's primary investment focus includes the following:
- Pre-seed & seed
- Scalable to 10-50+ MEUR within 5-10 years
- Nordics but open to Europe
- High degree of innovation in Taste, Health, Sustainability or Availability
- Lead or co-invest
- PINC's portfolio includes the following:
- Melt & Marble - next generation of plant-based fat
- Carrot Kitche - mobile cooking buddy for kids
- Mirai Foods - second generation of cellular meat
Links to Relevant Content and Events
- Local Bounti to Acquire Indoor Farming Operator Pete's for $122.5 Million
- Berkeley's Umaro Foods Secures $3 Million for Seaweed Bacon
- MeliBio Secures $5.7 Million in Seed Funding to Disrupt Global Honey Industry
- Rasa Raises $3.25 Million in Crowdfunding Campaign
- Wanda Fish, Tufts Accelerate Production of Cell-Cultivated Fish
- Spot & Tango Raises Another $38.5 Million for Its Human-Grade Dog Food Subscription Service
- Sales of Chocolate and Candy Hit All-Time High
EVENTS & OPPORTUNITIES
Save the Dates for Hirschberg Entrepreneurship Institute 2022
Virtual Boot Camp | May 9-11, 2022
Wednesday, March 16, 12:00 - 12:45 p.m. PST
Join HEI online for three days of a highly interactive, intimate venue for networking, storytelling, and problem-solving.
- Day 1 is dedicated to Financing and Cash Flow
- Day 2 is dedicated to Telling your Brand Story and E-comm
- Day 3 is the popular Pitch Day for companies to pitch for capital with the esteemed panel of investors.
For details, visit www.hirshberginstitute.com.
Apply for Whole Foods Local and Emerging Accelerator Program by April 8th
Whole Foods Market has announced a business accelerator to help promising local and emerging producers grow their companies. It is accepting applications to its inaugural cohort through April 8. The program includes a 10-week curriculum taught by Whole Foods Market experts, a yearlong mentorship with a Whole Foods Local Forager, and access to other growth-related supplier benefits. Companies who aspire to be on Whole Foods Market shelves can click here to apply.
Naturally Network + Naturally Boulder + Naturally Chicago:
EARTHWEEK 2022: Building Resilience Through Community: Food waste, hunger, and climate impact
Thursday, April 14, 2022 | 12:30 - 1:45 p.m.
The pandemic made life hard for many entrepreneurs, but the hottest Good Food and Natural Products companies saw their growth curves continue to soar upwards. Four leaders will share the secrets of their companies' success.
For Other Events Hosted by Naturally Network Affiliates
Please See the Links Below
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.