News for August 31, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

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.

 

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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.

News for August 15, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

Moo-ving on up

Cloud-based dairy supply chain software, Milk Moovement, closed a $20 million Series A round led by VMG Catalyst. Milk Moovement helps to create full supply chain visibility for both dairy farmers and their distribution partners. Shipments can be tracked and routed in real-time and delivery schedules are optimized to create a significant decrease in food waste and lost profits.

 

Perfecting paleo bread

Flower Foods, the US baking company behind Dave’s Killer Bread and Wonder has invested an undisclosed amount in Base Culture. Base Culture creates all-natural snacks aligned with the founder’s Paleo lifestyle. From sliced bread to brownies many of Base Culture’s products are Paleo Certified, Certified Gluten-Free, Certified Grain-Free, dairy-free, soy-free, Non-GMO Project Verified and Keto Certified. The investment will help the brand grow in distribution, marketing and manufacturing.

 

Great Wrap gets a great investment

This stretch wrap startup has raised $11 million in a Series A round backed by investors from the United States, Australia and Singapore. The 100% compostable stretch wrap is created out of waste from a local potato processor. The wrap breaks down into carbon and water in less than 180 days. Great Wrap plans to expand internationally and prevent tons of waste in Australia and beyond.

 

Sustainable beauty brand raises $7M

Ogee creates USDA Organic skincare and makeup products from sustainable ingredients. This $7.07 million Series A Round was led by Birchview Capital LP and included previous investors FreshTracks Capital and Coastal Ventures. The new funding will allow Ogee to continue expanding its product line made from healthy, high-performing ingredients, and to reach more international markets.

 

OWYN secures growth investment from Purchase Capital

Purchase Capital, an affiliate of United Nutritional Brands, invested an undisclosed amount into OWYN, a plant-based protein brand and creator of ready-to-make pancake and waffle mixes. OWYN will use the new funding to distribute to more national retailers, grow in online retail and increase advertising and marketing efforts.

 

$4.7M raised for OB/GYN-founded women’s vitamin brand

Unilever Ventures led the seed round for Perelel, a personalized subscription-based vitamin regime and health community. Perelel supports women with vitamins during every stage of the reproduction cycle, from contraception to a third-trimester prenatal pack. The mission-driven brand also provides supplemental resources for every step of the pre- to post-natal journey.

 

Blossom Botanical Water acquired by EARI Beverage Group

EARI Beverage Group’s acquisition of Blossom Botanical Water expands the group’s portfolio into the functional and craft beverage market. Blossom creates plant-based waters using botanicals and has generated roughly $4 million in gross sales along the east coast and midwest since its inception.

 

Meati Foods meets a $150M investment

Meati Foods, the developer of the Eat Meati brand of mushroom root proteins, recently closed a $150 million Series C funding round. The closing of this round, led by Revolution Growth, brings the company’s total funding to $278.6 million. Using mycelium, Meati creates whole-cut meats made of 95% mushroom root. Meati has debuted in restaurants across Colorado and Arizona, as well through e-commerce. The new funding will allow the completion of its new facility and production efforts.

 

Blume is blooming

In just five weeks this Vancouver-based superfood latte brand has raised $2 million CAD. Blume makes its drink mixes locally out of all organic and natural ingredients such as functional favorites turmeric and reishi. This female-founded brand is now funded by a group of investors that is nearly 50% women—many of which are other CPG founders. Investors include Judy Brooks (SmartSweets & Blo Blow Dry Bar), Ethan Song (Frank & Oak), Jerin Mece (Nude Vodka), Mike Fata (Manitoba Harvest) and Th51. The new capital will help Blume expand into the US market, grow its team and host in-person events fostering community.

 

Blue Ocean Barns completes $20M Series A Round

Hawaii-based Blue Ocean Barns is an agricultural technology company. The investment round was led by Valor Siren Ventures. Blue Ocean Barns will use the new financing to expand its tank-based farming. It will also help to commercialize Brominata, the brand’s seaweed-based digestive aid for cattle, which helps to reduce GHG emissions from livestock throughout the supply chain.

 

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.