Wonder secures $700M funding

Wonder, a food hall business with 11 units, secured a massive $700 million in funding, including investments from various shareholders and new backers. The company, led by Marc Lore, plans to aggressively expand to 90 units by 2025, focusing on culinary innovation, technology enhancements and partnerships with renowned chefs to stand out in the competitive delivery-centric restaurant market.

Nutrition startup support

Chiyo, a food-as-medicine startup, has raised $3 million to support postpartum moms with nutrition. Chiyo offers meal delivery services, digital guides and health coaching. It aims to revolutionize women’s health with its holistic approach and research-backed nutrition programs, drawing inspiration from traditional Eastern food therapy.

Funding secured for sustainable substitutes

Clean Food Group has secured £2.5M in funding led by the Clean Growth Fund for its sustainable oil and fat substitutes, aiming for a commercial launch in 2025. By utilizing food waste and innovative fermentation technology, CFG’s products offer a 90% reduction in greenhouse gases compared to traditional palm oil, addressing critical environmental concerns in the food and cosmetics industries.

Revolutionizing dairy with AI

Under CEO Oliver Zahn’s leadership, Climax Foods has secured additional funding from Untapped Ventures, joining existing investors At One Ventures and Index Ventures in a seed round totaling $28 million. This significant investment underscores the growing confidence in Climax Foods’ innovative approach to dairy alternatives, leveraging AI technologies to create sustainable and cost-effective plant-based products. With this funding boost, Climax Foods aims to expand its product offerings beyond cheese, tapping into a broader market of dairy-free alternatives and paving the way for a more sustainable future in the food industry.

SEMCAP invests in ALOHA

SEMCAP Food & Nutrition has invested $68 million in ALOHA, acquiring a significant minority stake in the plant-based protein brand. This partnership aims to leverage SEMCAP’s expertise to further ALOHA’s growth in traditional retail and digital channels, solidifying its position in the plant-based protein market while maintaining ALOHA’s status as an independently operated entity under CEO Brad Charron.

Goli acquisition and growth

Goli Nutrition has been acquired by a group that includes Group KPS, Bastion Capital and one of Goli’s original founders. The group aims to strengthen its position for growth, expand into new markets, invest in innovation and enhance partnerships with global retailers. With over 5 million customers and a strong brand backed by well-capitalized sponsors, Goli is poised for sustained success in delivering high-quality, enjoyable nutrition products worldwide.

Clean Food Group raises £2.5M funding

Clean Food Group secures £2.5M in funding led by Clean Growth Fund for its sustainable oil and fat substitutes, aiming for a 2025 commercial launch. CFG’s innovative products, derived from food waste, promise a 90% reduction in greenhouse gases compared to traditional options, addressing climate concerns and fostering a more sustainable food system.

A rebranding campaign success

Lucky F*ck Energy now rebranded as Lucky Energy secured an $8 million investment and launched a new campaign, “Search at Your Own Risk,” featuring a comedy short series and innovative marketing strategies. The rebranding initiative, fueled by a vision for a cleaner energy drink without compromising taste or performance, aims to challenge industry norms while attracting a growing audience.

heywell announces lead investor

Chicago-based heywell, known for its functional sparkling waters aiding energy, immunity, focus, hydration and stress management, has received a significant boost with Alethia Venture Partners leading their first strategic funding round. This investment, spearheaded by serial entrepreneur Mike Warren, marks a pivotal moment for heywell, supporting their expansion into marketing and sales initiatives, including launching their newest flavor, energy + lift cherry limeade. The company’s partnership with Green Spoon and its presence in major retailers like Mariano’s and Central Market further solidify its position in the thriving wellness beverage market.

Funding secured for REDUCED

REDUCED, a Copenhagen-based startup specializing in natural ingredients extracted from food industry side streams, has secured €6 million in funding from investors, including Novo Holdings and Einar Willumsen. The investment will fuel REDUCED’s technology development, expand its product range and boost sales efforts, aiming to capitalize on the €31.5 billion global savory food ingredients market while reducing CO2 emissions through sustainable practices.

Onego Bio Series A

Onego Bio secures a $40 million Series A funding round led by NordicNinja. The company aims to launch its precision-fermented egg protein, Bioalbumen, in North America pending regulatory clearance. Using precision fermentation with a fungal strain, the company produces a bioidentical version of ovalbumin, promising nutritional completeness, environmental benefits and scalability while targeting various food applications and expansion into global markets.

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AI Palette secures $5.7M

Singapore-based startup AI Palette has secured $5.7 million in funding to expand its AI-powered platform for food innovation, with plans to broaden into beauty and personal care. The platform, already utilized by major players like Nestlé and Diageo, incorporates a chatbot named FoodGPT and aims to accelerate product development by analyzing vast data sets to identify trends and generate tailored concepts rapidly.

Dairy alternative funding

Cultivated Biosciences secures $5 million in funding to expand production and accelerate regulatory approvals for its yeast-derived cream, aiming to enter the US market next year and the EU by 2026. The Swiss startup focuses on delivering a creamy, functional and environmentally friendly alternative to traditional dairy products through its unique fermentation process.

Umaro Foods’ new financing

Umaro Foods, backed by $3.8 million in new financing, is set to launch its seaweed-based bacon in retail markets at half the cost of traditional bacon production. The company’s innovative continuous manufacturing process, patent-protected formula and plans for scaling up seaweed protein extraction highlight its commitment to cost efficiency and sustainability in the alternative meat industry.

Van Heron Labs secures $1.1M

Van Heron Labs has secured $1.1 million in funding to enhance its precision nutrition strategies for optimizing cell growth in biomanufacturing. Using genetics, bioinformatics and AI, the company aims to revolutionize various industries like biopharma, foodtech and agriculture by improving cellular processes and scalability through tailored nutrient formulations and advanced technologies.

MALK secures funding, unveils new products

MALK Organics, a plant-based milk company, has received significant funding from investment firms Benvolio Group and Rotor Capital. The new capital enables the brand to expand its retail presence, enhance marketing efforts and innovate in product development. The company has also introduced three new products—almond-based milk, oat-based milk and cashew-based milk—with a focus on clean, organic ingredients. These developments align with MALK Organics’ mission to provide accessible and healthier alternatives to consumers, with plans for increased distribution in major retail chains like Whole Foods, Albertson’s, Stop N Shop, Kroger and Target.

ProteinDistillery raises €15M

ProteinDistillery has secured €15 million in seed funding, marking a significant step in its mission to innovate the food industry with plant-based proteins. The investment will support market entry, partnerships and launching Europe’s first protein-competence center, highlighting a shift towards sustainable and functional protein alternatives.

New chapter for Momentous

Momentous, a leading human performance company specializing in supplements and nutrition, has announced a strategic partnership with Humble Growth, a growth equity firm. The partnership involves Humble Growth acquiring a minority stake in Momentous, marking a significant milestone for the best-in-class supplement company as it aims to expand its reach and innovation in the health and wellness industry.

New Series A funding for Naturanic

Naturanic, a Brazilian startup specializing in healthy snacks, has secured $2 million in Series A funding led by Moriah Asset, a Brazilian investment firm focused on wellness and sustainability. This investment will fuel Naturanic’s expansion in the US market, allowing it to increase production capacity, introduce new product lines and strengthen partnerships with organic producers while adhering to its commitment to natural, organic and environmentally responsible snacks.

Tierra Biosciences secures $11M

Tierra Biosciences secures $11 million in funding to advance its AI-guided protein synthesis platform, enabling faster development of pharmaceuticals and industrial and agricultural proteins within weeks instead of months. The company’s cell-free technology offers a high-throughput approach, leveraging AI models to predict protein functionality and providing valuable data to customers, ultimately streamlining the protein development process and saving time and costs compared to traditional methods.

Liquid Death’s valuation soars

Los Angeles-based water brand Liquid Death has achieved a $1.4 billion valuation after securing $67 million in new financing, doubling its value from 2022. The company, known for its unique marketing and expanding product lines like iced tea and flavored waters, plans to use the funds for further product development and profitable growth strategies, emphasizing its commitment to building a valuable brand beyond functional differences.

A big investment in Tiny Health

Tiny Health, a pioneer in at-home baby gut microbiome testing, secures $13 million in funding to advance gut health innovation and combat pediatric chronic conditions affecting nearly half of US children. The company’s expansion aims to offer whole family testing and vaginal microbiome analysis, with a focus on early detection and correction of gut imbalances to improve long-term health outcomes.

Green Boy invests in Sigma

Green Boy has made a strategic investment in Sigma Oil Seeds B.V., a leading plant-based organic oil producer based in Rotterdam. Sigma Oil Seeds supplies high-quality oils like coconut, sesame and walnut oil to the plant-based food and cosmetic industries. With Green Boy’s support, Sigma Oil Seeds aims to expand globally. Green Boy’s investment is expected to accelerate Sigma Oil Seeds’ growth and market expansion, particularly in the U.S., Canada and Europe, aligning closely with both companies’ core values of organic ingredients, sustainability and transparency in the plant-based food industry.

Serenity Kids secures $52M

Serenity Kids, a leading shelf-stable baby and toddler food brand, has secured a $52 million Series B investment round led by Stride Consumer Partners to boost its growth, retail distribution and innovation efforts. Founded in 2018, Serenity Kids has quickly become a top-selling brand with nutrient-dense products. The company plans to use the funding to expand its reach and offerings while maintaining its commitment to providing healthy options for children.

LactaLogics secures $92M

LactaLogics, a Florida-based company specializing in human milk-based nutrition, secured $92 million in funding from various sources, including USDA, the US Department of Energy and private investors. Led by CEO Glenn Snow, the company plans to use the funds to expand its human milk processing technology at its Port St. Lucie facility, aiming to provide critical nutrition to at-risk infants and support breastfeeding goals.

Döhler invests in Vertosa

Döhler Ventures, the investment arm of ingredient manufacturer Döhler, invests in Vertosa, a company specializing in infusion technology for cannabis and hemp products. This investment aims to facilitate a partnership between Döhler and Vertosa to research and develop innovative life science products for the beverage sector, focusing on natural ingredients and infusion technologies for lifestyle beverages. Both companies are committed to setting a high standard for cannabis beverages through collaboration and co-created intellectual property.

Funding for algal protein

Poseidona, a female-led startup based in Spain, has secured €1.1 million in funding to develop its innovative algal protein ingredients further. Led by Faber and joined by other investors like Proveg International and WA4STEAM, Poseidona aims to use algal sidestreams and invasive seaweeds to produce sustainable proteins with lower environmental impact, contributing to marine ecosystem management while accelerating research and market entry.

Cocoa-free funding

UK-based Nukoko secured $1.5 million in funding to expand its cocoa-free chocolate made from fava beans. The company aims to address cocoa supply deficits due to climate change and reduce carbon emissions associated with traditional chocolate production. Nukoko’s innovative approach offers a sustainable, ethically sound, and nutritious alternative with 90% fewer carbon emissions and 40% less sugar than regular chocolate.

Leonsis’ AI startup nets $2.3M

Ted Leonsis-backed Proxy Foods Inc., an AI startup facilitating recipe creation for food and beverage companies, secured $2.3 million in funding, with Leonsis himself participating in the seed round. The fundraising campaign, which commenced in October, aims to bolster the company’s innovative approach to culinary AI solutions.

ANDFOODS raises $2.7M

New Zealand-based startup ANDFOODS, originating from Massey University and the Riddet Institute, secured $2.7 million in seed funding for its legume-based dairy alternatives, which include plant-based creams and milk powders. Using fermentation technology, ANDFOODS eliminates off-notes while maintaining nutritional benefits and functional properties, positioning itself as a top contender in the rapidly growing market of allergen-free dairy alternatives.

Sanzo attracts A-list investors

Sanzo, America’s pioneering Asian-inspired sparkling water brand, has welcomed Grammy-nominated music producer Steve Aoki and actor Simu Liu as investors. Both Aoki and Liu share Sanzo’s vision of celebrating the modern Asian diaspora and believe in the appeal of Asian-inspired products in the United States. With their support, Sanzo plans to expand into music, sports, fashion and food industries while continuing to promote Asian flavors through its innovative beverages.

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Investment in TWF Flours

Zerodha’s Rainmatter has invested Rs 12 crore ($1.4 million) in food tech startup TWF Flours, marking the company’s first institutional funding round since its establishment in 2019. TWF Flours, which focuses on enhancing flour nutrition and quality through innovative milling technology, plans to allocate the funds primarily for research and development. The investment aligns with Rainmatter’s focus on health and wellness startups, expanding its portfolio in fintech, health tech and storytelling sectors.

Ingrediome to scale

Decarbonising food supply chains

Sugar-to-fiber enzyme innovation

UK startup Zya has unveiled a groundbreaking enzyme that converts sugar into dietary fiber within the digestive system, potentially mitigating health issues caused by excessive sugar consumption. Zya has raised £4.1M ($5.2M) across two funding rounds. With hopes to commercialize its product Convero by 2026, Zya’s innovation aims to address the rampant sugar intake in the US, offering a promising solution amidst rising concerns about obesity, diabetes and gut health. Despite its potential, experts warn that while such technologies offer benefits, they may face numerous regulatory hurdles.

Oishii Secures $134M Funding

US vertical farming company Oishii secures $134 million in Series B funding led by NTT and contributions from various investors specializing in food tech and sustainability. The funding will fuel Oishii’s expansion into new markets, establishing a solar-powered facility and the integration of advanced robotics. Oishii, renowned for its innovative approach to producing cultivation, aims to revolutionize agriculture while prioritizing taste and sustainability, as expressed by CEO Hiroki Koga and NTT’s president Akira Shimada.

Vegan Food Group acquires Tofutown

Vegan Food Group announced its acquisition of Tofutown, a prominent German tofu manufacturer generating €60 million in revenue. This acquisition marks Vegan Food Group’s first since rebranding from VFC Foods, founded by Veganuary co-founder Matthew Glover and chef Adam Lyons in 2020. With Tofutown’s established presence in Germany and the EU, the combined entity aims for profitability in 2024. It aims to expand revenues beyond €100 million, positioning Vegan Food Group as a major player in the plant-based food industry.

Willow secures Kalsec investment

Willow Biosciences Inc. secured a second strategic investment from Kalsec Inc., enabling further development of natural food ingredients. The investment, achieved through a non-brokered private placement, follows Willow’s milestone in developing a strain meeting specific performance criteria. The funds will support product commercialization, development and general corporate purposes within Willow’s sustainable, functional ingredients initiatives.

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AtmosZero closes $21M Series A

AtmosZero has secured $21 million in Series A funding, co-led by Engine Ventures and 2150, to accelerate its Boiler 2.0 technology to decarbonize industrial steam production without emitting carbon. The round saw participation from key investors such as Constellation Technology Ventures and Energy Impact Partners. AtmosZero’s innovative approach targets diverse sectors such as food and chemical manufacturing, offering a scalable, drop-in replacement for fossil-fueled boilers crucial for achieving global emission reduction goals. CEO Addison Stark emphasizes the company’s vision to eliminate emissions from fossil-fueled boilers, receiving strong validation and support for their mission from leading US and European investors.

Beanless coffee startup expansion

Singaporean food tech startup Prefer has secured $2 million in seed funding to expand its production facility and reach in Asia. The company specializes in creating beanless coffee from surplus bread, soy pulp and spent grain, aiming to offer a sustainable and affordable alternative to traditional coffee while combating the environmental challenges facing coffee cultivation. With a focus on fermentation technology, Prefer addresses the climate impact of coffee production and plans to extend its range to include other flavors, envisioning a more sustainable future for various food products beyond coffee.

Culture POP secures new funding

Culture POP, the Massachusetts-based soft drink brand co-founded by Nantucket Nectars’ Tom First, has secured $21 million in new investment capital, mainly from new investors such as Enlightened Hospitality Investments and a private investment by Howard Schultz. The company capitalizes on growing consumer interest in gut-friendly sodas, reflecting a broader trend in the beverage market.

Spacegoods expands mushroom products

London-based e-commerce startup Spacegoods has secured £2.5 million in seed funding to expand its mushroom and nootropic product line, aiming to tap into the growing market for functional mushrooms and adaptogens. Spearheaded by serial entrepreneur Matthew Kelly, the company plans to use the investment to scale its operations, develop new products and expand its market presence across Europe. With a focus on wellness and energy, Spacegoods aims to carve a niche in the European market amidst the rising demand for clean energy and holistic wellness solutions.

Cultivated pork fat funding

Brazilian startup Cellva Ingredients has secured R$6.5 million in funding to advance its development of cultivated animal ingredients, beginning with pork fat. Led by Seed4SCience from Fundepar, the funding round also saw participation from ProVeg Incubator and other investors. Cellva aims to revolutionize the food industry with its sustainable, healthier fats produced in just 21 days, while traditional methods take up to 24 months, with plans for product launches by late 2024 or early 2025, pending regulatory approvals from Anvisa.

Cargill invests in ENOUGH

Cargill has made an undisclosed investment in ENOUGH, a Glasgow-based alt protein startup, to bolster its mycoprotein production and signed agreements to market ENOUGH’s ‘ABUNDA’ mycoprotein. Co-located with a Cargill starch facility in the Netherlands, ENOUGH’s facility utilizes fungal biomass to produce mycoprotein, fostering a zero-waste process. The partnership aims to develop poultry-style products and leverage mycoprotein’s scalability and sustainability in the alt protein market.

Skincare investment by Verlinvest

Cible Skin, renowned for its research-backed skincare formulations and luxurious treatments, has secured a minority investment from Verlinvest. This investment aims to propel Cible Skin’s growth in key markets like Europe, China and the United States, facilitating the development of new products based on its patented immuno-cosmetic approach. Verlinvest’s support underscores Cible Skin’s commitment to scientific innovation and customer satisfaction, positioning the brand for global leadership in luxury, science-driven cosmetics.

Sunday Natural secures investment

Sunday Natural, a premium nutrition brand headquartered in Berlin, has received investment from CVC Fund VIII to bolster its international expansion. With a focus on quality and transparency, Sunday Natural’s True Clean Label philosophy has garnered a loyal customer base, generating approximately €100 million in revenue in 2022. Founder Jörg Schweikart will remain integral to the company’s strategic direction, emphasizing collaboration with CVC to leverage expertise and networks for global health and self-care market growth.

Fermentation for alternative seafood

Berlin-based Pacifico Biolabs has surfaced from stealth mode, introducing a novel fermentation method for crafting alternative seafood. Zac Austin, the CEO and co-founder, emphasizes the process’s revolutionary potential, highlighting its ability to produce whole muscle structures via fermentation, a technique distinct from traditional methods. Backed by a $3.3 million pre-seed funding round, the startup aims to scale its innovative approach, aiming for regulatory approval and eventual market launch in Europe, with aspirations for broader applications beyond seafood in the long term.

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More mushroom money

Organic mushroom provider M2 Ingredients secured investment from Meaningful Partners, alongside support from White Road Investments and InvestEco. The investment underscores the growing interest in sustainable food practices and highlights confidence in M2’s mission and potential for growth in the organic food market.

A buzzy investment

Nasekomo, a Bulgarian insect farming startup, secured €8 million in funding to pursue its franchise model for insect agriculture. By combining automated facilities and advanced breeding techniques, Nasekomo aims to tap into pet food and aquaculture markets, leveraging black soldier fly larvae to convert organic waste into valuable proteins and lipids.

Freja secures £2M

Freja, a bone broth brand, has secured £2 million in funding from industry leaders and sports personalities, including Paul Polman of Unilever and Harry Kane. Founded in 2020, the brand has experienced rapid growth at 400% per year and offers a range of natural, protein-rich broths addressing various health concerns like gut health and immune support. The investment aims to fuel U.K. growth and international expansion, positioning Freja as Europe’s leading bone broth brand.

Timeline Nutrition closes successful Series D

Swiss longevity supplement brand Timeline Nutrition secures $66M in Series D funding, led by Nestlé Health Science and L’Oréal’s V.C. arm BOLD, to expand its science-backed anti-aging technology, Mitopure, across new products and sectors, including food and beauty. With the anti-aging market offering substantial returns, biotech companies like Timeline are capitalizing on the opportunity to delay age-related deterioration, leveraging direct-to-consumer models to scale ingestible solutions.

Old McDonald had a robot

Saga Robotics, a Norwegian tech company, has secured $11.5 million in funding to expand its AI-powered agricultural robot, Thorvald, in the U.S. and U.K. Thorvald reduces plant diseases, promotes sustainable food production and reduces pesticides by 60-90%. The new capital will fuel growth in American vineyards, expand operations in British strawberry farms and develop new tools. Thorvald 3 will lead the way with enhanced capabilities like UV-C light treatment and data collection for crop prediction.

Food as medicine

Foodsmart, a food-as-medicine and telehealth startup, is expanding its “Foodscripts” program to reach 7.4 million patients across major healthcare systems, supported by a $10 million funding injection. The expansion aims to integrate nutrition into healthcare, offering a long-term, cost-effective alternative to managing chronic diseases compared to expensive GLP-1 drugs.

Funding 15 years of plastic-alt research

UK-based clean-tech startup Xampla secures $7m in funding, bringing total investment to $17.6m, to accelerate plastic elimination efforts. The funds will be used to expand the consumer brand Morro’s applications into new markets, leveraging biodegradable, plant-based materials developed over 15 years of research at the University of Cambridge. Xampla aims to support major brands in transitioning away from single-use plastics, with existing partnerships including Britvic, ELEMIS and Gousto, while exploring future applications for its innovative materials.

$15.4M for cocoa-free chocolate

Planet A Foods secures $15.4 million in Series A funding to expand globally with its cocoa-free chocolate, ChoViva, amid climate-related challenges in the cocoa industry. Founded by siblings Max and Sara Marquart, the Munich-based company aims to provide sustainable alternatives to cocoa, leveraging fermentation technology to create its product from natural ingredients like oats and sunflower seeds. With plans for international expansion starting in the U.K. and extending its fermentation platform to other plant-based ingredients, the company intends to use the funding to scale production and hire additional scientists.

Alter Eco acquired

Trek One Capital has finalized its acquisition of Alter Eco Foods, a prominent producer of premium organic dark chocolate bars, truffles, granola and quinoa. With Alter Eco’s commitment to eco-friendly practices and its leading position in the organic/natural retail sector, the acquisition marks a strategic move for both companies. Keith Bearden, the newly appointed CEO of Alter Eco, expresses anticipation for the partnership with Trek One to elevate the brand’s offerings further.

The Coconut Collaborative raises £1.5M

The Coconut Collaborative, a UK-based dairy-free yogurt producer, has successfully closed a £1.5 million Series B funding round with support from existing shareholders like Ground Force Capital. This investment will propel the company from its initial startup to a scaling phase, leveraging its momentum to drive growth in the coming years.

Brita acquires Larq

The German filtration giant Brita has acquired Larq, a Bay Area-based smart water bottle startup known for its U.V. light technology to reduce bacteria. The acquisition marks Brita’s entry into the North American market under an existing brand, leveraging Larq’s online sales expertise and innovative hydration tracking and app connectivity approach. Larq will maintain its product line while exploring synergies with Brita’s filtration technology for future offerings.

Odyssey secures $6M

The Zero Proof closes Series A

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Grupo Bimbo acquires Amaritta

Mexico’s Grupo Bimbo has acquired Spain-based, gluten-free bakery company Amaritta, marking an expansion into the gluten-free bread segment. The financial details of the deal were not disclosed. Grupo Bimbo, the world’s largest bakery company, expressed its commitment to adapting to the diverse needs of consumers. Amaritta, based in Córdoba, Spain, is described as having a leadership position in the gluten-free bakery category there, with a manufacturing space capable of producing 10 million units of gluten-free products.

Tata acquires Capital Foods, Organic India

Tata Consumer Products, the owner of Tetley Tea, has acquired two Indian food groups, Capital Foods and Organic India. The conglomerate spent approximately $614 million to purchase Capital Foods and $229 million for Organic India. With this move, Tata Consumer aims to expand its product portfolio in the fast-growing non-Indian cuisines segment and create a health-and-wellness platform, leveraging the strong brand recall of Ching’s Secret and Smith & Jones, as well as the robust supply chain and trusted brand of Organic India.

Perfect Day secures $90M

Perfect Day, a leader in animal-free dairy tech has secured up to $90 million in a pre-series E funding round and announced a new executive team. Co-founders Ryan Pandya and Perumal Gandhi are stepping down as the company focuses on B2B operations, particularly the manufacture of animal-free whey protein. The shift in strategy aims to scale up and demonstrate unit economics for the brand’s precision fermentation technology, with plans to announce a major consumer packaged goods partner launch in 2024.

Ingredion Ventures brings Better Juice to US

Better Juice and Ingredion Inc. have partnered to bring Better Juice’s sugar reduction solution to the United States. Ingredion Ventures, Ingredion’s venture investment arm, will lead a Series A funding round to support Better Juice’s expansion. Better Juice uses enzymatic technology to convert sugars in juice-based beverages into non-digestible compounds, such as dietary fiber and non-digestible sugars, while preserving the natural profile of vitamins, minerals and organic acids. The collaboration aims to offer healthier sugar-reduction solutions to North American food and beverage companies.

AI-powered fermentation for plant-based ingredients

Israeli startup Mediterranean Food Lab (MFL) has secured $17 million in a series A funding round led by Gullspång Re:food, with participation from PeakBridge, Arancia International and FoodBridge. MFL aims to scale up its artificial intelligence-powered, solid-state fermentation technology, combining it with a computational platform to produce clean-label savory ingredients for plant-based foods. The company uses AI to optimize fermentation, creating unique flavor profiles for ingredients like ‘fermented chickpeas.’ MFL plans to initially focus on the European market, targeting health-conscious consumers seeking clean-label and plant-based options.

Better Foods secures investment

Better Foods, a plant-based subsidiary of South Korea’s Shinsegae Food, has secured investment from Cleveland Avenue, a V.C. firm led by former McDonald’s CEO Don Thompson. The undisclosed deal includes financial investment and active collaboration for Better Foods’ global market entry, focusing on developing plant-based alternatives like milk and cheese. The investment is seen as a recognition of Better Foods’ growth potential in the U.S., a key market for plant-based products.

Inspirit Capital acquires This Works

Inspirit Capital has acquired This Works, a British sleep and skincare brand, from Canopy Growth Corporation in a deal valued at up to £9.3 million. The London-based firm paid an upfront cash amount of £2.7 million, with additional considerations including a loan note and a contingent earn-out. This Works, known for its sleep-promoting products like pillow sprays, was purchased by Canopy Growth for £43 million in May 2019. The sale allows Canopy Growth to concentrate on its North American cannabis operations, aiming for market leadership.

Fenwick acquires Alabama brand Wickles Pickles

Fenwick Food Group, a division of Fenwick Brands Inc., has recently acquired Wickles Pickles to strengthen its position in the consumer packaged goods industry. Wickles Pickles, founded in 1998, has gained significant market share with its unique flavor profile and robust product offering within the billion-dollar pickle category. The deal closed on Nov. 29, with both Wickles and Fenwick’s existing brand, Moore’s Marinades & Sauces, headquartered in Birmingham. Financial details of the transaction remain undisclosed.

WTHN Secures $5M funding

Holistic wellness brand WTHN has secured $5 million in Series A financing led by L Catterton, a consumer-focused investment firm. Launched in 2019 by Michelle Larivee, WTHN offers modern wellness rooted in Traditional Chinese Medicine, providing both in-person treatments and at-home products. With plans to expand its brick-and-mortar presence and product distribution, WTHN aims to capitalize on the growing global wellness market, which is projected to exceed $1.3 trillion by 2025.

MPearlRock acquires Nutpods

MPearlRock, a collaboration between PearlRock Partners and MidOcean Partners, has acquired Nutpods, a prominent plant-based creamer company. The strategic focus of MPearlRock is on high-growth, emerging consumer packaged goods brands. Nutpods, founded in 2013, is known for its non-dairy coffee creamer with diverse flavors and a wholesome ingredient profile, making it a leading brand in the plant-based, non-dairy creamer space. The acquisition aims to support Nutpods’ growth and expansion into new channels and product verticals, capitalizing on its loyal customer base and innovative product offerings.

Compass Diversified partners with Honey Pot

Compass Diversified partnered with holistic The Honey Pot Company in a $380 million deal to expand its feminine care products market offerings. Co-founder Beatrice Dixon will continue to lead the company as CEO and chief innovation officer, expressing excitement about the partnership with CODI, aligning with their values of destigmatizing feminine care through accessible products and promoting holistic wellness. The transaction is set to be finalized in February, marking a strategic collaboration in the growing demand for health-conscious feminine care options.

L’Oréal invests in Timeline

Hi!Papa secures funding

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DayDayCook acquires Yai’s Thai

The content-driven food brand DayDayCook will acquire Yai’s Thai, a Thai American food brand known for its pantry staples like curries and stir-fry sauces. The acquisition, financed through a mix of cash and stock, is expected to be finalized by the end of the year. Yai’s Thai, founded in 2014, will expand DayDayCook’s presence in key U.S. retailers, including Costco, Whole Foods Market, Safeway, Sprouts and Kroger. The move aligns with DayDayCook’s strategy to grow its Asian convenient meal solutions in the US market and is the company’s second acquisition in the country.

Two ingredient companies complete acquisitions

Global ingredient firms ADM and Doehler have completed acquisitions to strengthen their portfolios. ADM is set to acquire Wisconsin-based Revela Foods, a dairy flavor firm using enzyme technology for various applications. Doehler has acquired Serbian frozen fruits specialist Frikos, expanding its range of premium freeze-dried berries and enhancing the supply chain.

Mezcla secures $4M funding

Mezcla, a snacking company known for its innovative puff-crispy bars featuring quinoa, has successfully secured $4 million in a Series A funding round led by Dream Ventures and Santatera Capital. Forbes reports the brand has received a total funding of $7.5 million to date. Mezcla’s plant-based protein bars come in unique flavors and culturally inspired packaging. The funds will be used to scale distribution, refresh packaging and enhance the supply chain, aiming for 2x growth in 2024 and moving closer to profitability.

Hello Bello’s bold move

Hello Bello, a leading brand of affordable baby- and family-care products, has announced a strategic move toward long-term success. The company reached an agreement in principle to be acquired by Hildred Capital Management and has filed for Chapter 11 bankruptcy to facilitate the acquisition. Hello Bello aims to expedite the sale process, secure debtor-in-possession financing and continue its operations during the court-supervised sale, ensuring minimal impact on customers, employees and stakeholders.

Cat cash: KatKin secures active backing

KatKin, the European cat-centric brand founded in 2019, has secured investment from venture capital and private equity firm Active Partners, alongside existing investors V3 Ventures and Octopus Ventures. Active Partners cites a projected $40 billion value of the global cat food market by 2030, with over 40% of cat owners expressing interest in fresh food for their pets. KatKin, known for its commitment to cat well-being and its fresh, veterinarian-formulated meals, plans to use the funding to expand its direct-to-consumer channels, boost awareness of fresh cat food, grow its team and invest in product innovation.

Platinum Equity acquires two big names from Danone

Los Angeles-based investment firm Platinum Equity has acquired Horizon Organic and Wallaby from Danone in a deal whose financial details were not disclosed. The acquisition is pending customary closing conditions and regulatory approval. Horizon Organic is the world’s largest USDA-certified organic dairy brand, known for pioneering organic dairy beverages since 1991. Wallaby is an Australian-inspired Greek-style yogurt made with organic ingredients.

Oakberry secures $67M funding

Brazilian açaí brand Oakberry has secured $67 million in a Series C funding round led by BTG Pactual, the largest investment bank in Latin America. The partnership aims to boost Oakberry’s global expansion, particularly in the United States, where the company plans to open over 200 stores focusing on high-demand areas. With over 700 stores in 40 countries, Oakberry anticipates reaching $200 million in revenue and nearly 1,000 stores worldwide by the end of 2024.

Voyage Foods is on a successful funding expedition

Oakland, California-based startup Voyage Foods, specializing in alternative versions of common allergen ingredients and environmentally conscious foods, has secured nearly $22 million in new funding, potentially reaching $30 million in total. The company, known for products such as peanut-free nut spread and cocoa-free chocolate chips, aims to address allergenic and sustainability concerns while maintaining authentic flavors. Despite a recent decline in food tech investments, Voyage Foods’ funding follows a trend of increased activity in the sector, with 2023 witnessing record-high deals in terms of size and valuation.

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Next Level Burger is taking its investment to the next level

Next Level Burger, a vegan burger chain, announced that it raised $20 million in funding. The new funding will be used to accelerate its U.S. expansion, which will quadruple its store count to 1,000 by the end of 2025. The round was led by a strategic organic and natural foods partner, private mission-driven shareholders and early-stage vegan investors Alex Payne, formerly of Twitter and Simple Bank, and Nicole Brodeur.

True Food to launch a new brand with $100M investment

Health brand True Food Kitchen announced plans to launch a new fast-casual brand next year in Phoenix, Arizona. The new funding round was led by HumanCo and Manna Tree with support from existing investor Centerbridge Partners. This is the largest investment the 42-unit chain has received since it was founded in 2008.

Gotham Greens raises $310M

Gotham Greens received an investment of $310 million to expand its greenhouses nationwide. Since the brand’s 2009 launch, it has raised a total of $440 million. The new investment round was led by BMO Impact Investment Fund and Ares Management, with participation from Commonfund, RockCreek, Kimco Realty Corporation, Manna Tree Partners and The Silverman Group

Arizona Cardinals safety Budda Baker invests in RTD beverage

Budda Baker is now a shareholder in LIFEAID Beverage Co. and has invested a significant amount into the company’s new FITAID Energy launch. FITAID Energy is a better-for-you, clean beverage brand available in the United States and Europe. FITAID Energy is LIFEAID’s most successful brand launch to date (the brand launched in mid-2022) and accounts for 26% of the company’s sales.

Berlin, Germany-based personalized nutrition company raises 10 million euros

Lykon, a 4-year-old personalized nutrition and dietary supplements company, raised 10 million euros in a Series A round led by venture capital investor Zintinus. Bridge to Growth, another venture investor, and existing investors MA Ventures and Ippen Digital also participated. MA Ventures led a 6.4 million euros fundraising round in 2021, which allowed Lykon to acquire Gaia Nutrition.

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Oxwash cleans up in Series A Round

The U.K. eco laundry startup Oxwash has secured £10 million in funding led by Untitled VC, with existing backer Biz Stone (Twitter co-founder), Indeed founder Paul Forster, and Holly and Sam Branson. Oxwash is taking on conventional commercial laundry by offering a gentler wet cleaning technique to replace dry cleaning. Rather than harsh chemicals, Oxwash uses biodegradable detergents and reduces water consumption, saving nearly 4 liters of water per 1kg of clothes washed. Another sustainability effort Oxwash makes is using ozone as a disinfecting agent. Ozone allows fabrics to be sterilized and deodorized at lower temperatures. The new financing will allow for expansion across the U.K and add more e-bikes and electric vehicles to its fleet for pickups and drop-offs to minimize carbon emissions. The company also recently announced that it gained B Corporation Certification.

Instacart acquires Eversight

Oversight is an AI-powered pricing and promotions platform for CPG brands and retailers. The experimentation-based platform allows CPGs and retailers to test customizable prices and promotions to customers directly and at scale. Instacart’s investment in this pricing and promotions expertise will make it easier for more customers to save on groceries. Instacart also recently introduced new incentives to help customers save money: It now offers a 5% cash back on pickup orders, and a new Instacart Chase card gives a 5% statement credit on all purchases.

Funding goes swimmingly for Mermade Seafoods

Mermade Seafoods received $3.3 million in seed funding from OurCrowd, Fall Line and Sake Bosch. Founded in 2021, Mermade Seafood’s technology will streamline scallop production to offer an alternative protein at a lower price point. The food tech company uses circular cellular agriculture technology to produce cultivated scallops. Cell-cultured foods produce a significant amount of often-discarded biowaste. Mermade Seafoods uses that biowaste to feed the algae that feed the cultured cells. The company is working on patenting its version of aquaponics, which it will call cytoponics, to help lower costs. This funding will allow the company to employ more stem cell and algae researchers and plan to reach laboratory-scale production in 2023.

Motatos raises €38M Series D

Swedish startup Motatos announced a €38 million Series D Round, which brings its total funding to €130 million. Motatos is a discounted groceries startup in Sweden, Finland, Denmark, the U.K. and Germany. Motatos focuses on selling household goods with a long shelf life such as pantry items, beverages, personal care products and pet food. All products come from the surplus inventory of larger producers for a reduced price. By selling surplus food, the company helps prevent food waste from entering landfills. In 2021, Motatos’ sales were €68 million and are on track for €100 million this year. This Series D Round was led by Swedish bank SEB with U.K.-based VC Exor Capital.

Live Nation invests in high-tech reusable cups

As large crowds return to festivals, Live Nation is trying to prevent the return of seas of plastic cups left on the ground and sent to landfills. The concert promoter has invested $5 million into Turn Systems, a startup that helps venues eliminate single-use cups. Turn Systems provides reusable cups, collection bins and proprietary dishwashers that are said to be 700% faster than traditional dishwashers. Turn’s cups are handed out to fans at no extra cost, but each cup has a scannable code on the bottom that activates the opening of a collection bin for disposal. Other investors include ab InBev, Bjarke Ingels Group and Ashton Kutcher’s Sound Ventures.

Misfits Market to acquire Imperfect Foods

Misfits Market is acquiring fellow online grocery platform Imperfect Foods in an all-stock deal. Since its founding in 2018, Misfits Market has raised nearly $530 million. A $200 million Series C Round in 2021 put the company’s valuation at over $1 billion. Imperfect Foods, founded in 2015 to help rescue and redistribute ‘ugly’ produce, raised $110 million in a Series D Round last year, bringing its total to $229 million. While the Misfits Market CEO did not disclose the deal’s valuation, they did say that combining the online grocery platforms will drive sales to $1 billion in early 2024. Until online grocers reach that sales benchmark, profitability is difficult; scaling up will help drive-long term revenue.

Hero to be acquired for $630M

Church & Dwight Co. has signed a definitive agreement to acquire Hero, the creator of acne patch brand Mighty Patch, for $630 million. The acquisition is expected to close in the fourth quarter. Hero’s net sales were approximately $115 million in the previous year. Hero joins Nair, Batiste, Viviscal, Flawless and Toppik to Church & Dwight’s Specialty Hair and Skin portfolio lineup. The total acne treatment market is approximately $700 million. Hero’s 2023 net sales are projected to increase 15% to $150 million.

Klim plants a $6.6M seed

Klim, a Berlin, Germany-based agri-tech startup, has raised $6.6 million in seed funding to help farmers quickly adapt to regenerative farming methods. Nearly 1,700 farmers have signed up to receive support. Klim’s app helps farmers set goals and determine the best ways to improve soil health, increase biodiversity and lower their carbon footprint. Farmers who document their transition and through Klim’s satellite data and monitoring can earn payouts for carbon sequestered at the farm. As farmers’ soil health improves, they can receive funds for undertaking other sustainable measures such as reforesting. The startup is also looking into loans for farmers. Founded in 2020, Klim has raised a total of nearly €8 million. Berlin-based food and green tech investor Green Generation Fund led the most recent seed funding. The investment will help Klim to look at expanding internationally.

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Eat Just raises $25M to grow business in China

Eat Just, the egg alternative brand, secured an investment of $25 million from private equity firm C2 Capital Partners which provides growth capital and support to companies seeking to scale their business in China. Eat Just’s Just Egg brand has been available on e-commerce platforms and street vendors in Shanghai since 2019. C2 Partner’s anchor investor is Alibaba Group and this transaction marks their first investment in the alternative protein sector.

Venus William’s Happy Viking wins a major investment round

Happy Viking, a plant-based superfood nutrition company created by Venus Williams, has recently closed an investment round led by fellow athletes. Serena Williams, Kevin Durant and Rich Kleiman’s 35V, Robin Arzón, Michelle Wie West, Megan Rapinoe, Reilly Opelka, Isaiah Hartenstein and Collin Sexton all financed the $2 million round. Venus Williams created Happy Viking after being diagnosed with Sjogren’s Syndrome, an autoimmune disease, in 2011. She experimented with creating great-tasting recipes with superfood ingredients and a plant-based diet to help aid her recovery and improve her health.

Ish receives €5M investment from Anora

Anora, a wine and spirits-based brand house, has now acquired a 26% stake in Ish with its recent investment. Ish is a Danish non-alcoholic beverage company with a portfolio of non-alcoholic spirits, wines and ready-to-drink beverages. The new partnership with Anora will see Ish’s products distributed in Norway, Sweden and Finland. On top of expanding international growth, Anora’s investment will help Ish expand its sales, marketing efforts and new product launches.

From YouTube to Coffee—a big investment

YouTube influencer Emma Chamberlain’s Chamberlin Coffee has closed a $7 million Series A Funding Round. The brand harnesses Chamberlain’s influencer status and online audience by being digital-driven and geared towards Gen Z when it comes to selling its USDA Organic-certified coffee and other products. The new funding round will help the successful e-commerce brand to create new products and expand retail efforts. Recently Chamberlain Coffee partnered with Swoon to create a co-branded Matcha Lemonade that was nominated for a NEXTY Award.

Positive Food Co. raises $7M

Positive Food Co. creates freshly prepared foods such as freshly packaged salads, heat-and-eat meals and vegan overnight oats. The fresh prepared foods market is a $34 billion industry. Co-founders Schuyler Deerman and James Chan began Positive Food by selling fresh, reasonably priced prepared meals out of a cooler in WeWork offices throughout Los Angeles. They then expanded into coffee shops but have pivoted to focus on Whole Foods and other new channels due to the pandemic. The new funding comes from BlueYard Capital, Western Tech, Y Combinator, Gaingels and a mix of entrepreneurs from Thrive Market, Fitbit, Instacart, WordPress and more.

Square Baby pulls in $1.8M

Square Baby is a science-based nutrition brand offering customizable meal services for babies. The brand is committed to providing veggie-forward, balanced meals that help with food allergy prevention. The new $1.8 million investment will help the brand to expand nationally and serve a rapidly growing waitlist of 10,000 families. The investment will also fuel DTC growth, create new eco-friendly packaging and expand the brand’s team.

More money in mycelium

Mycel, a South Korean startup, uses a root-like structure of mushrooms (mycelium) to create fungal-based biomaterials that are replacements for leather and meat. Mycel recently announced that it has raised $10 million in a pre-Series A round of funding. The startup will use the new funding to open a new production plant in South Korea that will scale up production and increase the number of employees. The brand has also been in talks with global cosmetic brands to co-develop mycelium-based leather fashion products and beauty ingredients. The brand is aiming to commercialize its mushroom leather in 2023.

Vividly raises $18M Series A

Vividly (formerly Cresicor), the leading modern trade promotion management solution, recently announced an $18 million Series A financing round. The round was led by led by 645 Ventures and Vertex Ventures US, with participation from existing investors Costanoa Partners and Torch Capital as well as Green Spoon Sales. The CPG industry spends at least 20% of its revenue on trade promotion management. Vividly provides cloud-based software that helps brands manage all aspects of their trade promotion management and data analytics. Vividly has raised $23 million to date and will use the new funding to scale its team and accelerate product development.

Disclaimer: NCN does not warrant the accuracy, reliability, or timeliness of any NCN news item. Before relying on any NCN News item the information should be independently verified.