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Food + Beverage

Food Venture Financing News - Weekly Issue No. 131

The UN Biodiversity Conference know as COP 15 ends this week in Montreal, Canada. Its goal is to extract commitments from governments to preserve 30 percent of global land by 2030, along with 21 other targets.
12.20.22
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In This Issue:

  • Food Venture Financing Trends
  • CPG Corporate Venture and Private Equity Funds
  • Links to Relevant Content and Events

Food Venture Financing Trends

  • NotCo, an AI foodtech company, announced that it raised $70 million in its Series D round. The company plans to use the funds to expand its B2B product services.
  • Equinon, a high-tech optimized crop breeder, announced that it raised $35 million in its latest funding round. The company will use the funds to research and develop new plant-based proteins.
  • Flower Foods announced that it will acquire Papa Pita Bakery, a manufacturer and distributor of baked goods, which will expect to close in the first quarter of 2023.
  • B&G Foods announced that it plans to sell its Back to Nature brand to Barilla America for an undisclosed amount.

CPG Corporate Venture and Private Equity Fund

This week's featured CPG Corporate Venture and Private Equity Fund is 1st Course Capital.

  • 1st Course Capital ("1CC") is an early stage venture capital firm that invests in innovative business models and technologies that change "how we grow, produce, and distribute food."
  • 1CC works with a vision to create a noteworthy positive impact on human health and the health of our planet and communities. Some of the companies supported by 1CC include the following:
    • Bobbie - Infant formula produced using clean and transparent ingredients
    • AgriDigital - Commodity trading platform remaking the supply chain for improved traceability and margins for farmers
    • BlueCart – Powering B2B e-commerce solutions for the foodservice industry
    • Dispatch Goods - Reverse logistics company offering re-usable packaging for restaurant delivery and takeout
    • Maev - Building the future of dog care


Links to Relevant Content and Events

ARTICLES


  • Industry Leaders Reveal Their 2023 Food Trend Predictions, Part 1
  • Industry Leaders Reveal Their 2023 Food Trend Predictions, Part 2
  • Ÿnsect Announces US and Mexico Insect Farm Expansion
  • Private Equity Firm Acquires Red's All Natural
  • Functional Soda Poppi Raises $25 Million
  • Plant-Based Lamb Maker Closes $12.3 Million Series A Round
  • Mad Capital Closes $4 Million Round, Aims to Shift 10m Acres to Regenerative Ag by 2032
  • Breakthrough Energy Ventures Leads $12 Million Seed Investment in ArkeaBio to Develop and Commercialize Technology Reducing On-Farm Methane Emissions
  • Global Food Tech Unicorn NotCo Closes $70 Million in Funding to Fuel New B2B Platform
  • Equinom raises $35 Million for New Non-GMO Plant Protein Ingredients
  • Flowers Foods to Acquire Papa Pita Bakery
  • B&G Foods to Sell Back to Nature to Barilla America

EVENTS & OPPORTUNITIES


  Naturally Bay Area logo

Naturally Bay Area

Quick Bites: Supply Chain as a Competitive Advantage - Opportunities in Upcycled Food

Wednesday, January 11, 12:00 – 12:45 p.m. PT

Learn about the Upcycled Food movement and how this unique supply chain can be the key to your competitive advantage.

Register


Naturally Bay Area

Networking with Investors

Thursday, January 19, 6:00 – 8:00 p.m. PT

Location: Davis Wright Tremaine, LLP, 50 California St., 23rd Floor, San Francisco, CA

Come for an evening of great conversations and connection. You'll meet CPG professionals and investors from our community. Enjoy drinks and nibbles with a stunning scenic bay view.

Register


Naturally Bay Area

Quick Bites: Generating Actionable Insights from Data Harmonization

Thursday, February 9, 12 – 12:45 p.m. PT

In this Quick Bites session, you'll hear from Bedrock Analytics along with several CPG sales & marketing leaders about how unifying multiple data streams can save time and improve outcomes. You'll learn how syndicated data, retail portal data, eCommerce, and distributor reports can be pulled together to get a clear picture of your performance and uncover insights that will help your business grow.

Register


Naturally Bay Area

Sales & Marketing Forum Kickoff Meeting

Thursday, February 9, 4:30 – 6:30 p.m. PT

Location: Bedrock Analytics, 350 Frank Ogawa Plaza, Suite 500, Oakland, CA, US, 94612

Naturally Bay Area is kicking off the first session of their new Sales & Marketing Forum with an in-person meetup at Bedrock Analytics in Oakland. This session will be a great opportunity to network with fellow sales and marketing professionals and learn about resources that can support your professional activities.

Register


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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©1996-2022 Davis Wright Tremaine LLP. ALL RIGHTS RESERVED. Attorney Advertising. Prior results do not guarantee a similar outcome.
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