News for November 23, 2022

mdovbish

Recent Transactions in the Nutrition and Health & Wellness Industry:

Facing the dark side of chocolate

Mondelēz International, Barrel Ventures, Regba Group and Trendlines are investing in Celleste Bio to bring its cell-based chocolate to market. The Israeli food tech startup is combating traditional chocolate’s sustainability and labor issues by producing cocoa through conventional cell culture methods. The chocolate industry has been plagued by human rights violations and is threatened by severe climate change in the regions where cacao grows. Celleste Bio’s technology is similar to replicating animal cells for meat and dairy, and the company produces its cacao cells without genetic modification or manipulation.

 

Topicals raises $10M Series A round

The fastest-growing skincare brand at Sephora, Topicals, has received $10 million in new financing led by CAVU Consumer Partners. In the spirit of providing more than capital, Jenna Jackson, principal of growth at CAVU Consumer Partners, will join Topicals’ board of directors to bring expertise and guidance. Developed in 2020 by Olamide Olowe, Topicals helps treat skin flare-ups through products that have succeeded in third-party, peer-reviewed, clinical studies. The new funding will take Topicals’ omnichannel growth to the next level, expand its team, support channel expansion and grow brand marketing awareness.

 

Peace Out Skincare receives $20M investment

5th Century Partners has invested $20 million as Peace Out Skincare’s first outside investor. The new investment will be used to fund expansion domestically and internationally, create new products, increase the speed of operations, increase marketing efforts and hire key employees. The skincare brand and 5th Century Partners share a passion for inclusion and diversity.

 

Proper Good raises $3.5M in seed funding

Proper Good is here to take over the pantry aisle through its line of shelf-stable meals suitable for multiple diets. Products include oatmeal, soups, chilis and more that are ready to eat in a transparent, fully microwaveable pouch. YETI Capital led the seed round, and other investors included Doug Bouton, the founder of Halo Top and Gatsby Chocolate, who will join the board of Proper Good. The new funding will support the brand’s e-commerce and retail growth. Proper Good recently expanded into more than 2,000 Walmart Supercenter stores nationwide.

 

Keurig Dr Pepper sip on a minority stake in alcohol-free beer maker

Keurig Dr Pepper (KDP) has invested $50 million in Athletic Brewing Company, a zero-alcohol beer company, making KDP a minority equity stakeholder in the business. KDP’s investment is part of a Series D investment round that raised $75 million. Twenty-five existing investors also participated in the round. Some of those investors include TRB Advisors, Alliance Consumer Growth, NFL player J.J. Watt, restaurateur David Chang, tennis player Naomi Osaka and fashion model Karlie Kloss. The new funding will accelerate growth and push the company closer to profitability.

 

New Wave Foods sees rising funds for its seaweed-based snacks

New Wave Foods, a Scottish seaweed producer, has raised an undisclosed six-figure sum from its shareholders. The new funding will increase production capabilities and expand the company’s range of Shore-branded seaweed products, including chips and ramen broth. The global algae protein market is expected to be worth $1.1 billion by 2026. Algae and seaweed are growing in popularity due to their sustainability and high amounts of plant-based protein.

 

Vow’s cultured meat wows in $49.2M Series A round

Australian cell-based meat company Vow’s $49.2 million Series A round was co-led by Blackbird and Prosperity7 Ventures. As a result, Vow’s first product brand, Morsel, will be introduced to the Singapore market this year. In addition, the new funding will be used to expand manufacturing, increase product development and hire more employees across new divisions.

 

Lotus Herbals acquires 20% stake in Yogic Secrets

Indian beauty conglomerate Lotus Herbals has acquired a 20% stake in Yogic Secrets, a nutraceutical and health supplement brand. The new funding will scale up Yogic Secret’s operations in India and expand the brand into the United States, the United Kingdom and Australia. This acquisition marks Lotus Herbals’ fifth investment in an emerging beauty and wellness brand since 2020.

 

Snack bar company This Saves Lives acquired by GOOD Worldwide

Kristen Bell and fellow actors Ravi Patel, Ryan Devlin and Todd Grinnell’s snack brand, This Saves Lives, was acquired by GOOD Worldwide for nearly $5 million. So far, This Saves Lives, on a mission to end world hunger, has donated more than 30 million packets of nutrient-dense Plumpy’Nut to children.

 

Athletes indulge in Clio Snacks

Clio Snacks, creator of protein-packed and chocolate-coated Greek yogurt bars, recently had a successful funding round led by Alliance Consumer Growth. Other investors include professional athletes Maria Sharapova, a retired No. 1 tennis player, and Jayson Tatum, who play for the NBA’s Boston Celtics. The new capital comes at a significant time of growth and expansion, with Clio Snacks expecting to reach profitability next year. Alliance Consumer Growth previously led an eight-million-dollar funding round. The new capital will expand distribution, improve manufacturing facilities and increase new product development.

 

Bio&Me raises £1.6M

Gut health food brand Bio&Me recently secured a £1.6 million investment to market and accelerate the brand’s growth. The lead investor of the gut-friendly yogurt and granola brand was food entrepreneur Giles Brook. The new funding will also support expanding the brand’s sales team and launching its latest innovations.

 

Bloomios acquires Infusionz for $23.5M

Bloomios, a hemp-derived nutraceutical, cosmetics and pet product manufacturer, has acquired CBD gummy company Infusionz. The acquisition includes Infusionz’s portfolio of CBD gummy brands and customers, associated order flow, product formulations, manufacturing operations, equipment and sales team. The newly added operations will double Bloomio’s current production capabilities while reducing costs. The total purchase of $23.5 million consisted of cash consideration of $5.5 million and $18 million of non-cash consideration.

 

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.

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News for November 9, 2022

mdovbish

Recent Transactions in the Nutrition and Health & Wellness Industry:

Young Mountain Tea using new funding for good

Young Mountain Tea has raised $1.1 million to construct a farmer-owned factory in India and produce zero-waste tea bags. The organic tea company will finance this project with a grant from USAID and Frontier Co-op and a pending equity investment. The company also completed a convertible note round led by SWAN and secured debt and lines of credit from Oregon Community Development Financial Institutions Funds and Vermont private foundations to launch its 100% compostable tea bags.

 

Suja Life acquires Vive Organic

Suja Life, a cold-pressed juice and juice shot manufacturer, has acquired the immunity-boosting juice shot brand Vive Organic, which was created by a group of holistic medical professionals. Together, the brands will be able to improve operational capabilities, enhance marketing/sales efforts and further innovate through research.

 

Unilever leads Series B funding for Youvit

Youvit, an Indonesian-based vitamin brand, recently raised $6 million in growth funding led by Unilever Ventures. Existing backers DSG Consumer Partners, as well as new investors, also joined the round. The new financing will grow Youvit’s product offerings and team. Additionally, the brand plans to increase distribution and availability across Southeast Asia and launch its entire product range in Malaysia.

 

CruzFoam leaves no room for plastic with $18M Series A funding

CruzFoam wants to make sure that plastic never enters the ecosystem in the first place. To do so, CruzFoam offers a naturally derived and compostable alternative made from chitin, shells from crustaceans such as lobsters and crabs. In addition, the brand can upcycle these shells that are left over from seafood shops. The new Series A funding will help the brand speed up production and test new prototypes.

 

Extending investments into plant-based hair

Nourie, a plant-based hair extension brand, has raised $2.5 million in seed funding to launch its alternative to synthetic hair extensions. Impact America Fund, Better Ventures and IndieBio led the seed round. The new funding will help prove product-market fit, grow the small team and increase brand awareness. Nourie will launch this month at a competitive price of $35 in the multi-billion-dollar wig and extensions industry.

 

BioVeritas raises $65M

BioVeritas uses fermentation to upcycle food and agriculture waste into ingredients and other uses. The new $65 million funding comes from the company’s majority shareholder Ara Partners. The company will use the new funds to upgrade its facilities, improve processes and deliver large-scale samples to potential customers in the first quarter of 2023.

 

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.

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News for October 26, 2022

mdovbish

Recent Transactions in the Nutrition and Health & Wellness Industry:

The Dumplings that took TikTok by storm receive $10M investment

Xiao Chi Jie, a frozen dumpling brand, went viral on TikTok this year and now has the funding to match its trending status. Caleb Wang and Jennifer Liao started Xiao Chi Jie four years ago in Bellevue, WA, as a restaurant. Then, Xiao Chi Jie pivoted to direct to consumer during the pandemic. Imaginary Ventures recently led a $10 million Series A funding. This investment will see the authentic Chinese dumplings and sauces arrive on shelves in retail. The brand also announced an upcoming rebrand and a new line of frozen noodles inspired by three different regions of China.

 

Sustainable wrap brand Peelo raises pre-seed round

Global early-stage investor and accelerator, Rockstart, announced that it recently invested in Peelo and led a pre-seed round alongside CB Investment management. Peelo makes an alternative to plastic wrap that is reusable/washable/compostable and keeps food fresh for longer. The startup will use the new funding to expand its team, develop new products and enter new markets in northern Europe.

 

Credo Beauty acquires a pioneering clean beauty brand

Credo Beauty, a pioneering clean beauty retailer, announced that it recently acquired Boston-based skincare and beauty brand Follain. Credo will absorb Follain’s online retail business and storefronts. Follain’s founder and CEO, Tara Foley, will support the transition as an advisor and will then begin consulting for purposeful beauty and CPG brands.

 

Soli Organic raises $125M Series D Round

CDPQ led a multi-million Series D fundraising for the indoor farming company Soli Organic with additional investment from Movendo Capital. This round brings Soli’s total funding to $487.5 million. Soli’s soil and precision fertilizer set Soli apart from other indoor farms that typically use hydroponics and vertical farming technology. The recent funding will build new indoor farming locations across the country.

 

A colorful acquisition

Sensient Technologies Corporation, a Wisconsin-based manufacturer of colors, flavors and other ingredients, acquired Endemix Doğal Maddeler A.Ş. Endemix is a vertically integrated natural color and extracts company for food and beverages. This acquisition will help Sensient to expand its natural colors portfolio and have operations closer to areas where key botanicals grow. Sensient did not disclose the amount of the deal.

 

Muddy Bites chews on a new investment

The bite-sized chocolate-filled waffle cone snack brand Muddy Bites recently raised $5 million to expand to more than 15,000 stores in 2023. Investors included Reformation Partners, RXBAR founder Peter Rahal, former RXBAR chief operating officer Sam McBride and barkThins founder Scott Semel. Muddy Bites also recently added new hires to its team from Hershey Co., Lily’s Sweets, Hippeas and barkThins.

 

Scout finds $4M in seed round

Craft canned seafood maker Scout’s four-million-dollar seed funding round was led by Semillero Partners, a seed and growth-stage responsible food and beverage investment firm, and Export Development Canada. Almanac Insights, an early-stage investor in CPGs with a positive impact on food systems, also participated. The new funding will accelerate Scout’s operational expansion and brand strategy.

 

Vincere Capital fuels Day One Beverages with investment

Day One Beverages is a CBD sparkling water brand on a mission to democratize CBD. At $2.99 a can, Day One makes adding CBD to one’s daily routine more accessible. The brand recently became the exclusive CBD partner of USA Pickleball. The recent investment from Vincere Capital, facilitated by Aspire Financial LLC and The J Square Investments, will give Day One the capital needed to compete in the CBD wellness market. The team at Day One, which consists of former Red Bull, Anheuser-Busch and other CPG brand executives, plans to rapidly increase retail distribution in California, Colorado, Illinois, Georgia and Florida.

 

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.

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News for October 12, 2022

mdovbish

Recent Transactions in the Nutrition and Health & Wellness Industry:

The Rounds raises $38M Series A funding

Sustainable household restocking service, The Rounds, is an online shopping and delivery service similar to Amazon Prime or Instacart in its timeliness, but boasting less of an environmental impact. Instead of disposable packaging, The Rounds uses a refill system when it drops off household goods. It also picks up customers’ empty containers to refill for next time. Redpoint Ventures and Andreessen Horowitz led the startup’s latest investment round.

 

Aura Bora brings total financing to $10M

The sparkling water brand recently closed a Series A funding round bringing its total funding to $10 million. Only last May, Aura Bora raised $2 million in seed funding for its canned beverages, naturally flavored with herbs, fruits and flowers. The latest funding round was led by Siddhi Capital, with participation from Consumer Ventures, Gaingels, Seaside Ventures and Simple Food Ventures. The new capital will increase operational capabilities, expand retail distribution and generate brand awareness.

 

Wicked Kitchen cooks up a $20M investment

Plant-based innovator Wicked Kitchen has had a busy year. Adding to it is this recent $20M investment, which included funding from actor and vegan advocate Woody Harrelson. Alongside announcing this latest funding, Wicked Kitchen reported that it has more than tripled its YOY sales growth. The company also recently expanded its portfolio by acquiring vegan seafood brand Good Catch. 

 

Gaia’s Farming Co. is shaking up the oat milk game by adding hemp

Launched in January 2022, Gaia’s is creating a sustainable hemp and oat milk beverage. The UK-based company recently raised £500,000 in seed funding, in addition to the £200,000 pre-seed round Gaia’s had last year. Investors were not disclosed, but Gaia’s says it will use the funding to expand its team and continue innovating in the hemp space. The company also recently partnered with Pledge 1%.

 

Pulp Culture raises $7M Series A funding

Pulp Culture, which creates functional beverages comprised of fermented juices, recently announced a new $7 million funding round led by The Kale Fund, Vibrant Ventures and Roger Lienhard. Marc Lustig, Kyle Vogt, Michael Mente and Raissa Gerona, Alexis Ohanian, Four Sigmatic, MUD\WTR and The Feed also participated. The new funds will be used to expand retail growth, grow in e-commerce and complete the construction of a new 13,000-square-foot facility. The company also recently opened a day club/juice bar with a 440-patron capacity called Siesta.

 

Investors are not swatting away this fly larvae protein powder

Livin Farms uses insect larvae as an alternative protein that it turns into a powder. Livin Farms recently announced a new $5.8 million in funding, in addition to its $3.8 seed funding. The startup currently has a 1,400 square meter farm in Austria, where it helps combat food waste by feeding it to the larvae. It takes about 11 days to turn the larvae into powder through proprietary technology, and what is left behind is used as fertilizer.

 

New capital is bringing vegan cheese to Spanish supermarkets

Mommus, a Spanish vegan cheesemaker, has partnered with Valencian Dasca Group to launch its vegan cheeses in Spanish stores. The new capital from Dasca will help Mommus increase production capacity and expand its distribution network. The company has an extensive vegan cheese portfolio and has won awards for its vegan camembert, which is created from 70% cashews and coated in camemberti penicillin (to replicate typical camembert’s white coating).

 

Maev announces $10M funding

Human-grade, unprocessed raw dog food brand Maev recently announced a successful $10 million funding round led by MG Partners with participation from BFG Partners, Willow Growth Partners, Springdale Ventures, DX Ventures, Contrary Capital, Good Friends and 1st Course Capital. Maev tripled its number of subscribers in 2022 alone, and has served up over 7 million pet meals since 2020. The new funding will support this rapid growth and product expansion, which is backed by veterinarian research.

 

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.

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