April 12, 2023
Recent Transactions in the Nutrition and Health & Wellness Industry:
Aqua Cultured Foods raises $5.5M
Aqua Cultured Foods has raised $5.5 million in seed funding to develop a new seafood alternative based on fungi. Aqua Cultured Foods plans to use the funding to research further and develop its technology, which involves using fungi to create proteins that mimic the texture and taste of seafood. The company hopes to launch its first products in the next few years and become a major player in the alternative protein market.
L’Oreal to acquire Aesop
French cosmetics giant L’Oreal has agreed to buy Australian luxury skincare brand Aesop from Brazilian cosmetics group Natura & Co in a deal worth $1.7 billion. The acquisition is part of L’Oreal’s ongoing efforts to expand its luxury skincare portfolio, which has been a key growth area for the company in recent years. Aesop, founded in Melbourne in 1987, is known for its high-end skincare products made with natural ingredients and has a strong presence in Asia, Australia and North America. The deal is expected to close in the second half of 2023, pending regulatory approvals.
Big funding for pet brand Smalls
Smalls, a direct-to-consumer cat food company, has raised $19 million in a funding round led by Left Lane Capital and Mars-affiliated Companion Fund. The funding will expand the company’s product line and scale its business. Smalls is known for its high-quality, fresh cat food made with human-grade ingredients and delivered straight to the customer’s door.
Bundle and Joy coming together makes for happy pet owners
Bundle, an e-commerce platform specializing in personalized pet care products, has acquired Joy, a startup that offers on-demand pet care services such as dog walking and pet sitting. The acquisition will allow Bundle to expand its offerings beyond product sales and into the broader pet care market. Bundle and Joy will operate as separate brands but work together to develop new products and service offerings.
A clean-flowing acquisition
Source Global, a company that provides sustainable water solutions, has acquired Proud Source Water, a premium bottled water brand that uses 100% recycled and recyclable aluminum cans. The acquisition will allow Source Global to expand its portfolio of sustainable water solutions and offer its customers a wider range of products. Proud Source Water will continue to operate as a standalone brand, with its co-founder and CEO remaining in her leadership position
True Botanicals raises $30M
True Botanicals, a natural and non-toxic skincare brand, has raised $30 million in a Series B funding round led by NextWorld Evergreen. The funding will be used to expand the company’s product line and digital offerings and support its growth and expansion into new markets. True Botanicals is committed to sustainability and uses organic and sustainably sourced ingredients with eco-friendly and recyclable packaging
Loliware raises $15.4M
Loliware, a company that produces seaweed-based materials to replace single-use plastics, has raised $15.4 million in a funding round led by Material Impact. Loliware’s materials are edible, biodegradable, and can be used for items such as straws, cups and utensils. The funding will scale up production and expand the company’s product offerings. In addition, Loliware’s materials can be composted within 60 days.
Celebrities invest in Tally Health
Tally Health, a consumer longevity company, has raised $10 million in a seed funding round led by Forerunner Ventures. The funding round also included participation from celebrity investors, including Gwyneth Paltrow, Ashton Kutcher and Kevin Hart. Tally Health offers personalized longevity plans tailored to an individual’s lifestyle and health goals. The new funding will further develop its technology and expand its offerings. The company’s goal is to help people live healthier, happier and longer lives by providing actionable insights and guidance.
Seed funding sprouting for potato protein startup
Polipop, a food-tech startup that produces plant-based protein from potatoes, has raised $1.75 million in a seed funding round. Hong Kong-based early-stage venture capital firm New Enterprise Associates led the round. Polipop will use the investment to scale up production and expand the company’s product offerings. The company’s goal is to help reduce the food industry’s carbon footprint by providing a high-quality, plant-based protein source.
Cauldron brews $10.5M in new funding
Cauldron, a female-founded fermentation startup, has raised $10.5 million in a funding round led by For Good Ventures. The company uses microbial fermentation to create sustainable, plant-based materials for the food and textile industries. Cauldron’s technology can be used to produce a variety of products, including meat alternatives, leather substitutes and natural dyes. With the new funding, Cauldron plans to scale up production and expand its product offerings.
Jonas Brother’s popcorn brand pops up new funding
Rob’s Backstage Popcorn, a snack food company co-founded by the Jonas Brothers, has raised $7 million in a funding round led by Hollywood A-listers. The company specializes in gourmet popcorn and other savory snacks and has gained a following due to its unique flavors and high-quality ingredients. Rob’s Backstage Popcorn plans to use the new funding to expand its product offerings and grow its customer base.
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