IFF’s Flavor Specialty Ingredients business to sell for $220M

IFF has announced the planned sale of its Flavor Specialty Ingredients business to Exponent, a UK-based private equity firm, for $220 million in cash proceeds. The transaction is expected to close by the end of Q3 2023, and the cash proceeds will be put toward reducing outstanding debt. Flavor Specialty Ingredients manufactures both synthetic and natural base aroma chemicals for the flavoring market and has a range of more than 1000 aroma chemicals and natural extracts. The business produces and distributes these in facilities across the globe.

Elo Life System closes $24.5M Series A round

Ingredient company Elo Life Systems has raised $24.5 million in new financing to accelerate the development of its zero-calorie sweetener made from watermelons. The new funding will aid Elo in advancing U.S. regulatory approvals, processing and market testing. Elo uses molecular farming to produce otherwise difficult ingredients to source and extract. Through this process, Elo says it can make ingredients more available, affordable and sustainable..

A $6M infusion to help Planetarians lift off

San Francisco-based company, Planetarians, creates whole cuts of plant-based protein using brewer’s yeast. A new $6 million venture capital infusion will take Planetarians into its next phase of commercial production. Planetarians was founded in 2013 and has worked on nutritional drinks, upcycled ingredients and byproducts. The new funding was considered as a second seed round led by Mindrock with participation from Traction Fund, Techstars, SOSV and A.B. InBev (its yeast provider).

Tofurky and its sister brand Moocho acquired for an undisclosed sum

Morinaga Nutritional Foods has acquired Tofurky and Moocho, both plant-based companies. Tofurky produces plant-based meat products, and Moocho produces dairy-free cheesecake and cream cheeses. Morinaga has actually been tofurky’s tofu supplier for 17 years. Morinaga Nutritional Foods is a subsidiary of dairy and soy manufacturer Morinaga Milk Industry.

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The Ugly Company closes $9M Series A round

Upcycled dry fruit snack producer, The Ugly Company, has raised $9 million in funding. Sun Valley Packing, a fruit grower and distributor, and Value Creation Strategies led the round. Other participation came from Justin Timberlake and investment firm Valley Ag Capital Holdings (VACH).

Lemon Perfect raises $36.8M in funding

Lemon Perfect’s founder and CEO has confirmed in an SEC filing that the company has raised $36.8 million in its equity deal led by Goat Rodeo Capital Management. Last year the company, which produces hydrating beverages, closed a $31 million Series A round with backing from Beyoncé Knowles-Carter. Her involvement brought on a lot of attention to the brand from investors and interested board members.

Roar Organic secures $6M in new funding

Another investment for a hydration beverage brand! Roar Organic recently announced that it raised $6 million in funding. Roar Organic’s beverages offer a blend of vitamins, antioxidants and electrolytes. The company will use the new funds to grow the brand’s product line, expand operations and business research.

Unilever invests in new hair care startup

Unilever Ventures has funded a $2 million pre-seed investment into Australian hair care startup Straand. Straand has created a line of prebiotic scalp and hair, microbiome-focused products that combat dryness, itching and dandruff. The new funding will support Straand’s expansion into the global market in the U.S., U.K., Europe and China.

A $2M seed round for sprayable caffeine

VAE Labs has announced a $2 million seed round to help bring its sprayable caffeine device to the commercial market. For just three spritz VAE Energy Spray can deliver the same amount of caffeine as a cup of coffee. The idea behind the spray is to help control your caffeine intake and replace coffee drinks with excess sugars and calories. Draper Associates led the investment, and other participants included Midnight Venture Partners and Cartograph Ventures.

Fable Foods announces Series A round

Australian startup Fable Foods has announced an $8.5 million Series A round led by Singaporean venture firm K3. Fable Foods uses mushrooms to create its plant-based meat and will next month launch its Fable mushroom burger slider patties at STK Steakhouse chain locations. Other participants in this funding round included Greg Creed, Peter Singer and SaladStop! founders Frantz Braha and Adrien Desbaillets. Existing investors Blackbird, AgFiunder, Aera VC, Osher Günsberg and Audrey Griffen also returned for the round.

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Investors dash to new seltzer brand

Dash Water recently announced the completion of an £8.7 million funding round. The company makes zero-sugar, zero-calorie seltzer flavored with upcycled ‘wonky’ fruit and vegetables —as co-founder Alex Wright calls them. Private equity firm Beringea led the Series A round with participation from Irish rugby captain Johnny Sexton, Dash chairman David Milner and others. Seltzer drinks have seen great success in the U.S. Dash Water hopes to replicate that across the pond. The new funding will enter Dash into new European markets and increase its presence in Australia. The investment will also support growth, expansion, research and development

Riding the plant-based seafood wave

After raising $12 million in seed funding New School Foods is announcing the launch of its first product: a plant-based, whole-cut salmon fillet that closely mirrors the real thing. New School Foods has structured the plant fibers to resemble those of a raw salmon’s muscle to replicate that same bite and mouth feel. The investment for the company came from Lever VC, Blue Horizon, Hatch, Good Startup, Alwyn Capital, and Canadian government grants.

Meati Foods scales big

Meati Foods creates whole cuts of meat made from mycelium (structural fiber of mushrooms) and is making significant strides with the recent opening of its 100,000-square-foot production facility and a new $22 million extension round. This is an exciting new phase for Meati because, with the new facility, they can grow/harvest mycelium under the same roof that they produce products. The extension round was led by Revolution Growth with participation from Rockefeller Capital, bringing Meati Foods’ total funding to over $250 million..

Lots of love for this luxury chocolate brand

Venture capital investor Richard Koch has funded a $4.25 million investment into Love Cocoa. James Cadbury established the luxury chocolate brand (yes, of that Cadbury), including the vegan oat milk chocolate brand H!P Chocolate. The new funds will be used to grow Love Cocoa’s senior management team and open its first brick-and-mortar store. With the new support from Koch, Cadbury hopes to take Love Cocoa from a challenger brand to a chocolate industry powerhouse.

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Anne Hathaway invests in vegan eggs

Anne Hathaway has invested in the vegan egg food technology company The EVERY Co. The actress invested an undisclosed amount, but the company’s funding now totals more than $230 million to date. With the recent avian flu outbreak and resulting egg shortage, attention on future-proofing eggs is greater than ever. EVERY uses precision fermentation to create its proteins in partnership with ZX Venture’s BioBrew. Other investors besides Hathaway include McWin Food Systems Fund, Temasek, TO Ventures, Grosvenor, ZX Ventures and more.

Better for you food coloring

Michroma wants to bring more natural and plant-based options to food coloring by using precision fermentation of fungi. Its first product, Red+, will replace the red colorant Red 40 and is temperature resistant. Red+ will be an excellent option for adding color to cultivated meat. Michroma has secured $6.4 million in seed financing led by Supply Change Capital. The round also included participation from both existing and new investors giving the company a total of $7.4 million in venture capital.

Online grocer Diferente secures $3M investment

Diferente brings fresh organic produce to remote Brazilians whose journey to a traditional grocery store may have limited transportation options and long distances to travel. Diferente aims to make healthy food more accessible while cutting down on 30% of the imperfect food typically thrown away by grocery stores. The produce from Diferente is sourced directly from farmers. Diferente gives customers customizable delivery options and uses an algorithm to tailor ideal baskets. In turn, that data can also be shared with the farmers so they can plan their crops based on what’s popular. Caravela Capital led the latest round with participation from Collaborative Fund, South Ventures and Valor Siren Ventures. Diferente raised $4.4 million in seed funding last year, bringing its total capital to $7.4 million to date.

Funding for broccoli on the upp

A strong investment for strong brains

Parable has launched its first product, a brain health supplement called Daily, after raising $2.75 million in seed funding. M13 and Break Trail Ventures led the round. Brain health is becoming a number one priority for consumers who want to take care of their cognitive, neural and mental health with the same care they do for the rest of their physical body. Daily is a science-baked supplement packed with eight ingredients (curcumin, lemon balm, ginseng, phosphatidylserine, green tea extract, and B vitamins 6, 9, and 12) pinpointed by neuroscientists as significantly beneficial to the brain.

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.

Beneo sizzles a 14% stake in Grillido

Beneo recently announced that it is acquiring a 14% stake in meat replacement/alternative startup Grillido. The acquisition will give Beneo access to Grillido’s e-commerce platform for faster and direct access to consumer feedback. In addition, Beneo will use the data to faster develop ingredients and product solutions for the plant-based meat market.

New growth in food tech to start the new year

Microbiome company BIOHM recently raised $7.5 million to accelerate research, product development, and artificial intelligence capabilities. Middleland Capital’s VTC Ventures led the oversubscribed round with participation from Felton Group, LLC, Jobs Ohio Growth Capital Fund, Aztec Capital Management LLC, Cleveland Life Science Advisors, Valley Growth Ventures, LLC, JumpStart-UH (Healthcare Collaboration Fund) and more. The new funding will help BIOHM remain a leading microbiome innovation partner to food, beverage and dietary supplement companies.

Multus Biotechnology raises $9.5M Series A Round

Multus Biotechnology, a U.K.-based cellular agriculture startup, recently raised $9.5 million in funding in a Series A Round led by Mandi Ventures with participation from SOSV, Big Idea Ventures, SynBioVen and Asahi Kasei Corp. The new financing will accelerate product development in advanced growth media formulations and food-grade raw materials. The Series A Round also raised capital to build a new U.K. production facility for food-safe growth formulations and cultivated meat ingredients.

ModifyHealth announces $10M Series B Round

ModifyHealth is a food-as-medicine platform that provides medically tailored meals. The latest funding round was led by RC Capital with participation from existing investor Nashville Capital Network. The new $10 million funding will help accelerate growth and further expand its offerings nationwide.

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Solabia acquires majority stake in BioActor

French active ingredients maker has purchased a majority stake in nutraceuticals ingredients firm BioActor. BioActor develops polyphenols extracted from fruits and plants for use in supplements. This new investment will expand Solabia’s production capabilities and help support research and development.

Excitement for new sustainable protein ingredients startup

ICL Planet Startup Hub, an agrifood innovation and investment platform, invested €2.75 million in the startup Arkeon. Arkeon sustainably creates customizable protein ingredients by capturing greenhouse gas and converting it into the 20 proteinogenic amino acids vital to human nutrition. The alternative proteins are thus carbon negative and classified as clean-label functional ingredients. In addition, Arkeon will now have access to ICL’s premium research and development labs and production facilities.

Pronghorn says hello to Hella Cocktail Co

Pronghorn, an incubator initiative to expand diversity in the alcohol industry, has announced its recent capital investment in Hella Cocktail Co. The capital also will provide Hella with access to Pronghorn’s program with industry experts and consulting services to help accelerate growth. Hella’s CEO, Jomaree Pinkard, will also transition to Pronghorn’s new CEO and managing director.

From food waste to food containers

Singapore-based startup Alterpacks uses food waste—mainly spent grains, a byproduct of beer manufacturing—as raw materials to create food containers. These containers, which can be molded into different shapes, are microwavable, freezable and home compostable. The startup recently raised $1 million in pre-seed funding. The round was led by Plug and Play APAC and Seed Capital, with participation from Earth Venture Capital and Alice Foo. Alterpacks will use the new funding for commercialization and bring production and supply to new markets such as Asia, Australia and Europe.

Raining funds for The Rainforest Company

German food tech company The Rainforest Company has raised nearly €36 million in capital. The rapidly growing healthy and sustainable foods D2C company creates vegan products based on the açai berry. In addition, The Rainforest Company works with farmers to develop sustainable agriculture practices and protect the rainforest. The latest round was led by Kaltroco, with participation from Futury Capital, Corecam and Green Generation Fund.

No Meat Factory raises $42M

Plant-based alternative protein manufacturer, No Meat Factory, has recently closed a Series B round led by Tengelmann Growth Partners, with participation from existing investor Emil Capital Partners. The new $42 million funding will be used to expand production and manufacturing capacity across North America and into the global market. The company also plans to use its new BRC-certified facilities in British Columbia Plant-based alternative protein manufacturer, 

New functional tea brand raises $6.7M

The Ryl Company is launching a line of functional ready-to-drink canned teas across the Northeast in select Wegmans, Whole Foods Markets and Wakefern stores. The launch comes after raising $6.7 million in funding. The funds will be used for new product development. The brand is launching with four flavors to start and plans to be sold in Sprouts Farmers Markets nationwide by March.

Hometown Food Company acquires Birch Benders

Hometown Food Company is expanding its portfolio of American baking brands with its acquisition of Birch Benders. Birch Benders creates keto, paleo and organic waffle/pancaking mixes and other baking products. Hometown Food Company is acquiring Birch Benders from Sovos Brands, Inc., and the transaction terms were not disclosed.

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.

RENEE Cosmetics raises $25M Series B round

RENEE is a D2C cruelty-free cosmetics startup in India. To date, the startup has raised $36 million in three rounds. Evolvence India led the latest Series B round that raised $25 million with participation from Edelweiss Group, Equanimity and 9Unicorns. Earlier in the year, Mensa Brands led a $10 million Series A round. Demand for the brand has grown, and it will begin exporting its beauty products to the UAE and other countries.

NotCo raises $70M Series D round

Food tech unicorn NotCo has raised $70 million to launch “Giuseppe,” its new B2B AI platform. NotCo designed the platform to foster innovation between CPG brands, ingredient suppliers and technology providers. Princeville Capital led the latest funding round, bringing NotCo’s total funding to $400 million. Previous investors have included Tiger Global Management, Union Square Hospitality Group, L Catterton, Trousdale Ventures and Jeff Bezos through Bezos Expeditions. In addition, the company has released a line of branded alt-meat/dairy products and is preparing for an IPO in 2025.

Mars acquires Trü Frü

Mars, a leading snack and confectionery manufacturer, is expanding its portfolio of better-for-you snacking brands with its latest acquisition of Trü Frü. Mars has previously successfully acquired KIND and Nature’s Bakery. Trü Frü creates both shelf-stable and frozen snacks made of fruit covered in premium chocolate. The deal is expected to close in the first quarter of 2023. The terms of the transaction were not disclosed.

Hain Celestial sells Westbrae Natural

Hain Celestial is simplifying its portfolio with the divestment of Westbrae Natural to Bush Brothers (the U.S. canned-food company). Hain Celestial acquired Westbrae Natural back in 1997. Some of Westbrae Natural’s product offerings included canned beans, soups, cookies and non-dairy beverages.

Arkeon Biotechnologies secures new €4M investment

Austrian startup Arkeon Biotechnologies brings its total investment to nearly €10 million after raising 6.5 million in seed funding in March and its last announcement of securing an additional four million. The startup uses technology to convert CO2 into proteins for food. Arkeon can generate all 20 essential amino acids by fermenting a specific microorganism while using significantly less land and water than traditional agriculture. Arkeon’s new investors were CL, aws Gründerfonds, FoodHack and Tet Ventures. The new funding will help expand its proprietary technology and create a new research and development center.

Oatbox bags C$7.1M investment

Canadian startup Oatbox recently closed a 7.1 million Canadian dollar financing round. Oatbox specializes in oat-based products and will use the new funding to finalize the construction of its manufacturing facility. The facility, located in Quebec, will expand Oatbox’s development of plant-based products and oat milk and introduce the opportunity to offer operation capabilities for other companies using oats as a base in their products.

EvodiaBio Brews up $6.4M

Danish startup EvodiaBio has raised $6.4 million (45 million Danish Kroner) for its sustainable beer aromas. The startup uses precision fermentation to give non-alcoholic beers a more traditional fragrance. Funding support comes from Nordic FoodTech VC, Danish accelerator BioInnovation Institute and Symrise, a German flavor house.

Big pop for Poppi

With its latest funding, the prebiotic soda brand Poppi is taking the functional beverage category to the next level. The brand has recently raised $25 million in funding led by CAVU. The new funding will be used to approach club retailers, start selling multipacks and develop new flavors.

Fresh capital for healthy fast-casual food joint Alfalfa

Alfalfa recently raised $2 million in seed funding to expand into new locations across southern California and the New York tri-state area. The company uses artificial intelligence to prep food and will also use the new funding to improve its efficiency. Blue Falcon Capital led the seed funding round with participation from Jake Kassan, Sean Johnson, and executives from Bain & Co., Algorand Crypto, Jefferies, Hightower and Piper Sandler.

Unilever India is investing in supplements

Unilever’s subsidiary in India (Hindustan Unilever) recently invested in Ozivia and Wellbeing Nutrition, both D2C vitamin/supplement manufacturers. Unilever did not disclose the financial terms, but the deals are expected to close in about one to three months. Hindustan Unilever will acquire a 51% stake in Ozivia and is buying a 19.8% interest in Wellbeing Nutrition.

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.

Arey raises $4.15M seed round

Functional beauty and e-commerce brand Arey uses a science-driven approach to protect aging hair and proactively prevent gray hairs. Arey’s hair care system of serums, supplements, shampoo and conditioner work together to restore hair health. The brand will use the new $4.15 million seed funding to increase research, development, distribution and expansion.

PeaTos closes an oversubscribed Series A3 round

PeaTos, a plant-based, crunchy snack brand, is launching into several hundred U.S. Walmart stores nationwide after closing an oversubscribed Series A3 round. The new funding will help the brand take on other snack brands it says are monopolizing the category with unhealthy ingredients.

Perfect Day acquires Sterling Biotech Limited

Precision fermentation brand Perfect Day has completed the acquisition of Indian firm Sterling Biotech Limited (SBL). SBL produces gelatin, dicalcium phosphate and pharmaceutical ingredients. The acquisition will double Perfect Day’s production capabilities and bring its animal-free dairy proteins to the Indian market.

Julienne Bruno raises £5M

Julienne Bruno is a food tech startup creating vegan cheese and dry-aged vegetables. The startup’s goal is to create delicious meat and dairy-free products that people who are not vegan will choose first over conventional products for their superb quality. Last year, Julienne Bruno raised £1 million in pre-seed funding led by Seedcamp. Lead investors in this round, including Seedcamp, were Cherry Ventures, Outsized Ventures and Nicoya.

MeliBio raises $2.2M

MeliBio is a food tech startup that creates plant-based honey without bees. Participation in the latest funding round included Collaborative Fund, Siddhi Capital, The Greenbaum Foundation and Seaspiracy. This round brings the company’s total funding to $9.4 million, and the new funding will be used to expand development efforts.

Got Malk?

Malk Organics, a creator of plant-based oat and almond milks, recently announced a new $9 million in funding. Benvolio Group and Rotor Capital led the campaign. The new funding will expand the brand’s retail presence, increase marketing efforts and increase new employees. The company plans to have its products available in all Publix locations in early 2023.

Black Sheep Foods stands out to investors

Black Sheep Foods is a San Francisco-based food tech company that creates plant-based meats that resemble animal meat flavors. The company uses patent-pending technology to isolate flavor molecules in meat and identify the same molecules in plants. The company secured $12.3 million in funding from a Series A round. This brings the total funding to $18 million since 2019. Unovis led the latest round with participation from Bessemer Venture Partners, AgFunder and KBW Ventures.

Soft Robotics raises $26M to combat staffing shortages

Soft Robotics, which creates soft robotic grippers with a touch delicate enough for handling food, recently announced a successful $26 million Series C round led by Tyson Ventures. New investors joining the round included Marel and Johnsonville. Last year among the surge of pandemic staffing shortages, the company raised a $23 million Series B with a $10 million extension last June.

Torr FoodTech completes $12M Series A round

Torr is an Israeli startup that comes through Strauss Group’s food-tech incubator, The Kitchen Hub. Torr uses technology that combines mechanical pressure and ultrasonic energy to press ingredients together for snack bars and other food products. The latest round secured the startup $12 million in funding and was led by Harel Insurance Investment and Financial Services. Additional participation in the round included existing investors Mondelēz International, The Kitchen Hub and Strauss Group.

Lumen metabolizes a $62M investment

Lumen, a metabolic health startup, has raised $62 million in funding from a Series B round led by Pitango Venture Capital. Lumen has created a handheld breathalyzer that measures metabolic fuel usage in real-time. This innovation will help bring more personalized nutrition options usually reserved for clinical settings.

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.

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.

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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.

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.

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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.