Food Venture Financing News - Weekly Issue No. 137
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Elo Life Systems, a molecular farming startup, announced that it raised $24.5 million in its Series A round. The company plans to use the funds to develop its natural, plant-based sweetener products.
- According to a recent disclosure filed with the SEC, third Point LLC, an activist investor, purchased 2.3 million shares of International Flavors & Fragrances. The disclosure indicated that the shares are worth $240 million.
- International Flavors & Fragrances announced this week that it entered into an agreement with Exponent, a UK private equity firm, to sell its Flavor Specialty Ingredients business for $220 million in cash. IFF hopes to use the funds to strengthen its financial position and reduce its outstanding debt.
- Terraa, a B2B food distribution startup based in Morocco, announced that it raised $1.5 million in its pre-seed round. The company plans to use the funds to build collection centers in Morocco to store produce for farmers that will be distributed to customers.
CPG Corporate Venture and Private Equity Fund
This week's featured CPG Corporate Venture and Private Equity Fund is La Cocina.
- La Cocina is a kitchen incubator based in San Francisco. It supports businesses by providing an affordable commercial kitchen space, industry-specific technical assistance and access to market opportunities.
- La Cocina's incubator program focuses primarily on providing resources to women from communities of color and immigrant communities who are launching, growing and formalizing food businesses.
- Since 2005, La Cocina has focused, exclusively, on the project of small business incubation, with a vision to increase inclusivity in the food industry and offer equitable opportunity for living-wage work and asset generation.
- Here is the link to La Cocina's Incubator Program: How the Program Works — La Cocina (lacocinasf.org)
Links to Relevant Content and Events
- FDA Recommends Nutrient Statements For Milk Alternatives
- Danone North America Announces $65 Million Investment to Expand Key US Brands, Including Silk Coffee Creamers
- Sensus Launches Fava Protein Ingredient
- Vertical Farmer Plenty Announces $1 Billion Financing
- Wild Microbes Raises $3.3 Million in Pre-Seed Round to Generate Next Generation Microbial Hosts
- Soylent Acquired By Starco Brands As Nutrition Company Shifts Into Its 'Natural Next Stage'
- Elo Life Systems Closes Series A Round, Raising a Total of $24.5 Million. Achieves Strategic Milestones With its Natural Sweetener and Appoints Independent Board Member
- Activist Investor Third Point Takes $240 Million Stake in IFF
- IFF Announces the Sale of Flavor Specialty Ingredients Business to Exponent
- Morocco’s Food Tech Terraa Raises $1.5 Million Led by FoodLabs
Albertsons Innovation Launchpad 2023 at Expo West
Wednesday, March 8, 8:30 – 10:45 a.m. PT
Location: Natural Products Expo West
Brands compete before the show opens in a 10-minute fast pitch environment to one of our groups of judges. We will award 3 grand prize winners with prizes over $170K in cash and industry service value. The top 10 brands will also get a guaranteed appointment with the national team and a consultation package with SPINS (including data) to build their story. There will also be a lot of industry recognition to the winners.
Expo West Kick-Off Party
Wednesday, March 8
VIP Hour: 7:00 – 8:00 p.m. PT
General Admission: 8:00 – 10:00 p.m. PT
Location: Hilton Anaheim, West Convention Way 777, Anaheim, California, Pacific Ballroom
Join Naturally Network on March 8th for the Expo West Kick Off Party, presented by SPINS, in partnership with New Hope Network and Polsinelli. Get your Expo experience started right by connecting, networking, and mingling as a natural products community.
Expo West Minnesota Mingle
Thursday, March 9, 4:00 – 6:00 p.m. PT
Location: Anaheim Convention Center – North Hall
West Katella Ave. 800, Level 200 Balcony / Katella Terrace, Anaheim, CA
This is an opportunity to meet and connect with Minnesota's growing food startup and innovation community including founders, industry leaders, investors, retailers, and more. Minnesota “ex-pats” are encouraged to attend.