Food Venture Financing News - Weekly Issue No. 110
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Atomo Coffee, a reverse-engineer coffee startup, announced that it raised $40 million in its Series A round. The company plans to use the funds to expand its new product development and launch their consumer products, including its ready-to-drink cold brews.
- Current Foods, an alternative protein startup company based in California, announced that it raised $18 million in seed funding.
- Symbrosia, a sustainability startup that develops seaweed feed additives for livestock, announced that it closed its $7 million Series A round. The round was led by Danone's corporate venture arm – Manifesto Ventures.
- Eclipse Foods, a plant-based ice cream company, announced that it raised more than $40 million in its Series B round.
CPG Corporate Venture and Private Equity Funds
This week's featured CPG Corporate Venture and Private Equity Fund is 7-Ventures.
- 7-Ventures, LLC, is the 7-Eleven® corporate venturing arm focused on discovering, partnering and investing in startups that complement 7 Eleven's mission of convenience.
- Portfolio companies include:
- Belly
- KeyMe Locksmiths
- PayNearMe
- 7-Ventures invests in early-stage food and beverage businesses as well as convenient services to anticipate and respond to the ever-changing consumer. Its portfolio companies gain access to the 7-Eleven business system, offering guidance with commercial distribution, operations support, product development, marketing, insights, and analytics.
- This VC fund has established a successful track record investing in some of the most innovative and fastest-growing early stage food and beverage companies.
Links to Relevant Content and Events
ARTICLES
- Chocolate Works Announces Moonstruck Chocolate Acquisition
- Beyond Meat to Offer Sliced-Steak Product, CEO Ethan Brown Says
- A Taste of Microsoft's All-Electric Kitchen
- Pure Harvest Smart Farms Secures $180.5 Million in Funding Round
- Seaweed Biomaterials Startup AlgiKnit Nets $13 Million Series A Funding
- Coming Out of Stealth, Paleo Unveils Six Animal-Free, GMO-Free Varieties of Heme
EVENTS & OPPORTUNITIES
Naturally San Diego: Webinar: New Legislation Requires Food Manufacturers Donate Surplus Food
Thursday, July 14 | 10:00 -11:00 p.m. PT
New legislation SB 1383 requires food distributors and manufacturers to donate surplus edible food to food recovery organizations.
During this session, you will:
- 1. Understand how Feeding San Diego works with local and national food donors to rescue food and provide it to people facing hunger - including SB 1383 and what you need to do in order to reach compliance
- 2. Learn about the organization and establish understanding of Feeding San Diego's mission
- 3. Receive tangible actions on the timeline of enforcement and how you can comply with SB 1383
Naturally New York: Hot 2022 Compensation Trends
Tuesday, July 19 | 12:00 - 1:00 p.m. PT
Barbara Bevilacqua and Kristin Russum, Talent & Organizational Management Directors at TriNet, will lead a critical conversation where you'll hear about the impact of a shifting workforce on pay trends, and what you should consider as you re-evaluate compensation strategies for your business. Then, get your questions answered during Q&A.
Speakers:
- Barbara Bevilacqua, Director, Talent and Organizational Management of Trinet
- Kristin Russum, Director, Talent and Organization of Trinet
Naturally Bay Area: Survival Training Series for Emerging CPG Brands
Weathering the Gathering Storm: Part 2, Managing Cash (7/20, 12 p.m. PT)
Wednesday, July 20 | 12:00 - 12:45 p.m. CDT
Join this discussion of current economic considerations and how to plan during uncertain times, with a focus on managing your cash and increasing your runway.This is the second of a four-part series to help entrepreneurs prepare for and endure the financial uncertainties of the current market.
Part 1: Raising Capital (6/29/22)
Part 2: Managing Cash (7/20/22)
Part 3: Borrowing Money (October, details to come)
Part 4: Becoming Profitable (November, details to come)
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.