Agrifoodtech investor PeakBridge has closed its Growth Fund II at $187m in partnership with Edmond de Rothschild Private Equity, bringing its total AUM (assets under management) to more than $250m.
The partnership gives New Culture access to “some of the largest and most sophisticated fermentation facilities on the planet.”
Beyond Meat posted a net loss of $54.4m on revenues down 18% to $75.6m in Q1, 2024. However, gross margins moved back into positive territory.
Fungi-fueled startup Meati Foods has raised $100m+ in a C-1 round led by Grosvenor Food & AgTech and rolled out its mycelium-based steaks and cutlets into 2,000 Kroger stores, taking its store count up to 6,000.
The latest in the ugly legal dispute between bioreactor supplier ABEC and foodtech co Eat Just and its GOOD Meat cultivated meat subsidiary…
“It’s difficult to find another company in the food space that has developed so fast in only two years,” says Nosh.bio cofounder Tim Fronzek.
US retail sales of plant-based meat fell 12% in 2023 with units down 19%, while plant-based milk sales were up 1% with units down 8%.
Omeat is operating with a skeleton crew to conserve cash following a turbulent few months during which the founder stepped down as CEO after being accused of creating a hostile working environment.
Dutch startup Rival Foods will start deploying shear cell technology—a novel approach to texturizing plant-based proteins that can create whole cuts—at a “commercially viable scale” this summer.
“A key part of the proposition to fine dining chefs was that they can serve something that no one else has and no one else can have, because we invented it,” says Vow’s CEO.
How will cultivated meat transition from a loss-making novelty served at a handful of restaurants to a viable alternative to animal ag?
Berkeley-based Orbillion reckons it can achieve economic production for cell-cultured Wagyu beef “at around 2,000 liters in scale,” says cofounder and CEO Dr. Patricia Bubner.
Shiok Meats, which had raised more than $30m since 2018, couldn’t see a clear path forward under its own steam.
“It is more likely than not that a CRISPR-enabled cell line will ultimately be necessary [for profitable production at scale],” says Eat Just CEO Josh Tetrick.
Umaro Foods’ seaweed-fueled bacon will make its retail debut on the west coast with a leading food retailer.
The Zurich-based startup’s ‘yeast cream’ can dramatically improve the mouthfeel and performance of alt dairy products, claims CCO Lucie Rein.
The zero-cholesterol, low-saturated fat eggs are made from a base of soy and chickpea protein plus sunflower oil, with ‘runny’ yolks sealed from the whites by an alginate film.
Spanish plant-based meat startup Heura posted a 22% increase in sales to €38.3m ($41.5m) in 2023 and says it’s on course to turn a profit next year.
Beyond Meat Jerky, the first product to emerge from the firm’s JV with PepsiCo, is being discontinued less than two years after launch.
“This strategy aligns with our commitment to scaling up responsibly,” says CEO Didier Toubia.
