News for June 1, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

Granarolo acquires a majority stake in White & Seeds

Italian dairy manufacturer Granarolo has acquired a 51% stake in White & Seeds with the possibility of buying the remaining shares in the next few years. White & Seed sells dairy and snack products such as yogurt, bars, muesli, porridge and spreads. Granarolo has been focusing its attention on products that promote well-being and sustainability. White & Seeds founders are sports lovers and expert nutritionists who cater to an audience attentive to wellness but lacking in time and looking for natural ingredients and flavors.


Seed investment plants Heywell as the fastest-growing sparkling adaptogenic water brand

Female-founded Heywell received a seed investment from Masterfund, a venture capital investment firm based in Seattle, WA, that invests in women-led, revenue-positive startups. Spins data reports that the $5.2 billion natural energy and other functional beverages market is growing at 24.6%, powered by Gen Z and Millennial consumers’ quest for cleaner plant-based products. Heywell was an Expo West 2022 NEXTY Awards finalist.


Slutty Vegan to open 20 new locations with a $25M investment

Atlanta-based Slutty Vegan currently has five locations and will expand to another 20 fast-food chain locations thanks to a $25 million Series A funding round. The expertise of investors from New Voices Fund and Danny Meyer will help build a vegan comfort food empire. Locations are planned for Brooklyn and Baltimore. The funding will also be used to hire chief operations and marketing officers. The black female-founded startup has seen rapid growth and is also currently selling dips distributed in Atlanta grocery chains. It is important to Pinky Cole, Slutty Vegan’s founder, to promote BIPOC community health and food equity.


Investors have an appetite for mycelium

Mycelium continues to trend this year as more startups aim to bring the plant-based meat alternative to the shelf. The latest startup to receive funding is Bosque Foods, with a $3 million seed round. A challenge with mycelium that has given some investors pause is the difficulty with scaling production. What is different with Berlin-based Bosque foods is that they grow big slabs of mycelium in a bioreactor used for solid-state fermentation instead of fermentation in a liquid cell culture bioreactor tube. These slabs can be cut into something that closely resembles a pork or chicken cutlet. Producing alt-meat that resembles real cuts of meat and not ground meat is usually one of the biggest challenges when it comes to alt-meats texture.


Plant-based cheese startup sets its sights on new European markets

Dutch-based startup Willicroft has secured a €2 million seed investment led by Paulig’s venture arm PINC and Rockstart. The investment will bring Willicroft’s range of plant-based cheeses to the U.K., Germany and Nordic Markets. It will also help the brand bring on senior talent, fast-track its product evolution and continue to become the world’s first net-positive plant-based cheese company. Rockstart said of the brand, “Willicroft is taking plant-based dairy alternatives to the next level. Alongside making delicious products, they are helping farmers to transition to sustainable production by enabling a local supply chain without the need for monocropping or highly processed ingredients. They have spent the last years understanding their consumers and their footprint, and the next phase will be to put those learnings to scale.”


How do you like your eggs? Yo! Egg is helping restaurant patrons answer plant-based

Yo! Egg has announced that it plans to launch in U.S. restaurants this year with its plant-based sunny side up and poached eggs. Yo! Egg hopes to tackle the unsustainable amount of water required for producing eggs and the risk of diseases transferred from the animals to humans. The plant-based egg market is expected to grow steadily over the coming years to reach up to $800 million in value by 2027. Many other plant-based egg companies start by creating a liquid or powdered egg, but Yo! Egg is taking on producing the whole egg. The brand’s sunny side up egg and poached eggs have already been successful at restaurants in Israel. The brand is also working on hard-boiled, scrambled and baking varieties.


HUNGRY, the tech catering platforming, is adding NatureBox to its plate

HUNGRY is a technology platform that caters to and delivers different snack varieties. The platform is backed by Jay-Z’s Marcy Partners and has gained momentum as people return to the office. HUNGRY’S acquisition of NatureBox will allow it to add more snack varieties to its platform and revenue. CEO Jeff Gras said, “NatureBox had previously raised roughly $60 million in venture capital funding. We project that NatureBox will add at least 20% to HUNGRY’s overall revenue in 2022, and we expect our business to double in sales in 2023.”


Nestlé to expand its health portfolio in Brazil with the acquisition of Puravida

Nestlé Health Science reached an agreement to acquire Puravida, a Brazilian nutrition and health lifestyle brand. Puravida produces nutritional supplements, protein powders and ready to drink beverages under the belief that vitamins and minerals play a vital role in our health and wellness. This acquisition will expand Nestlé’s consumer health portfolio in Brazil. Nestlé Health Science Latam said of the acquisition that “Bringing together Puravida and Nestlé Health Science’s deep expertise in nutrition research and development will result in further innovation, expanding the breadth and depth of the portfolio in the consumer and healthcare professional channels. Our retail presence will open new opportunities for Puravida’s growth and our strong network with healthcare professionals will expand the brand’s presence.”


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 May 16, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

 
Sweet deals: Ferrero acquires Fulfil Nutrition

The international confectionery group Ferrero, of the Italian chocolate fame, has acquired the Irish vitamin and protein bar group Fulfill Nutrition via an all-cash transaction. Ferrero will take over the business outside of North America, where Hershey, who bought a minority stake in 2019, and Barry Connolly, Fulfil’s founder, will remain in control. Connolly is still the majority owner of the business, and the sale is estimated at 150 million euros.

 
Food-tech is here to create allergy free alternatives to your favorite pantry items

Voyage Foods raised $36 million in Series A financing, bringing its total funding to $41.7 million. Voyage Foods aims to reinvent pantry staples using sustainably and ethically sourced ingredients. Its products, including coffee without coffee beans, chocolate sans cacao and a peanut-free spread, are molecularly similar to the traditional pantry staples. These, though, are free from the top nine major allergens. Funding was co-led by UBS O’Connor and Level One Fund, with participation from Horizons Ventures, SOSV’s Indie Bio and Social Impact Capital.

Serena Williams helps more women score points by investing in WILE

WILE is a vegan menopause supplement brand created by women to help empower them and reduce the stigma around this natural hormonal process. WILE currently produces various plant powder supplements, tinctures and functional beverages that offer support women for in their 40s-60s having symptoms of hot flashes, stress and mood swings, as well as supporting overall wellness. Williams invested an undisclosed amount during the $3 million seed round.

 
Down to Cook Inc.’s Adda Veggie begins to add a lot of capital

As part of a $1.5 million seed round, Down to Cook received a $300,000 investment from the ICA Growth Fund. ICA assists women and BIPOC entrepreneurs via mentorship and capital in the Bay Area. With its Adda Veggie line of meal starter kits, the startup also raised more than $60,000 in an equity crowdfunding campaign.

Beyonce continues to make lemonade out of lemons

Two years ago, Beyonce posted a shot of her getting into a limo with a bottle of Lemon Perfect—an enhanced water drink—in the cupholder. Fans spotted the beverage, one of Beyonce’s favorites, and the image went viral. Beyonce is now a backer saying, “I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious. It was an easy decision to invest in something that not only tastes great and is healthy, but also, and most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.” The $31 million Series A funding also saw support from Beechwood Capital, Goat Rodeo Capital, Melitas Ventures, NNS Capital and Trousdale Ventures.

Leonardo DiCaprio joins Lewis Hamilton’s The NEAT Food Co as a strategic investor

DiCaprio has long been an environmental activist advocating for sustainable alternatives. NEAT is a vegan fast-food chain from the UK that focuses on alternative proteins as a means of reducing global emissions. NEAT will soon be opening more locations globally in addition to bringing its products to retailers in the U.S. NEAT’s most recent valuation is $100 million. It is starting a $30 million Series B funding round to help improve on versions of its products, introduce new ones and continue its global expansion.

Canada’s leading roasted bean snack receives a $6.2M investment

Three Farmers Foods Inc. received $3 million from District Ventures Capital and $3.2 million from existing investors to help grow its distribution across Canada and penetrate the U.S. market. Grown and manufactured in Canada using sustainable practices, Three Farmers Food believes in food production transparency and giving everyone equitable access to healthy food.

From farm to food service: Tractor Beverage Co. plans $60M funding round

Tractor Beverage Co. claims to be one of North America’s fasting growing beverage brands, thanks to its Certified Organic full line beverage service solution for foodservice operators. Tractor has entered into a long-term, exclusive sales partnership with Keurig Dr Pepper. Keurig Dr Pepper will be a lead investor in this funding round and will support expanding infrastructure and marketing. Tractor gears its marketing towards younger and more health-conscious consumers.

 

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 April 30, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

Food is medicine for startup Season Health

Season Health is working with health systems to make accessible condition-specific foods that help patients improve. It has raised $34 million in a Series A round of funding led by Andreesen Horowitz . Season Health currently designs specialized meal plans for diabetes and chronic kidney disease patients and facilitates delivery. The company is working with investors to have their services covered by health insurance providers.

 

Gauge Capital is bringing hair care from the Land Down Under to North America

BondiBoost , the Australian haircare brand, has been acquired by Dallas-based private equity firm Gauge Capitol. Operations will remain in Australia, where the brand creates solutions to help solve people’s hair and scalp issues. The brand has seen great success already in the U.K., U.S. (sold at Ulta Beauty and Target) and online. Gauge Capital will support the Australian team as it expands into more global markets, especially as the hair care market is expected to grow and match the size of the makeup market by 2024.

 

Latin America food tech startup gains record funding

Brazilian startup Diferente is ensuring that different ” ugly” foods are not being discarded but instead rescued and brought straight to consumers at a lower price point. Diferente announced a record-setting seed round funding for early food tech startups in Latin America of BRL 24 million. Maya Capital led the funding round, which also saw investments from the likes of Misfits Market founder and CEO , whose brand rescues ” ugly ” produce in North America.

 

The lab is your oyster! Cult Food Science invests in Pearlita

Innovative food science sees whole new worlds of possibility and Cult Food Science is adding to its portfolio Pearlita , a cell-based mollusk company. Cellular agriculture and the incorporation of cultivated cell-based foods into the global food supply chain decrease our reliance on live animals as a source of food. Pearlita’s cultivated oysters from stem cells and bioreactors provide seafood lovers with healthy, nutritious, and richly flavorful oysters.

 

The Honest Kitchen secures $150M in funding to expand on its human-grade pet food

The Honest Kitchen cares about your pet’s health and wants to make sure man’s best friend is getting the same quality ingredients as are found in human food. The Honest Kitchen will use part of the funding towards environmental, social and governance initiatives. The investment will also help expand on innovating new dog and cat food products, manufacturing and marketing.

 

Athletes get a head start investing in Mikuna Protein Powder

Protein powder brand Mikuna Foods raised $5.6 million in seed funding . Among the backers of the seed round were a number of athletes, including professional snowboarder Sage Kotsenburg , professional skateboarder Leticia Bufoni and professional surfer Mick Fanning. Mikuna’splant- based protein comes from chocho , a lupin species native to the Andes Mountains. The new funding will be used to expand manufacturing and explore new products.

 

Series A funding goes swimmingly for lab-grown shrimp producer CellMEAT

CellMeat, a South Korean startup , has secured $8.1 million in Series A funding. Alternative seafood investments saw 92% growth last year, totaling $175 million globally. CellMEAT will use this new round of funding to continue cell-based lab-grown shrimp research and development. CellMEAT will also increase production and begin to cultivate other crustacean seafood such as lobsters and crabs. The aim is for the cultivated shrimps to be commercialized by 2023 for B2B and B2C in Asian countries and , subsequently, the U.S.

 

Move over Styrofoam, TemperPack receives $140M in financing

TemperPack Technology manufactures Cli maCell thermal liners , a nontoxic and recyclable alternative to Styrofoam and expanded polystyrene. These sustainable thermal shipping liners used to ship food, pharmaceutical and other products help reduce waste and carbon emissions. The new equity financing was led by Goldman Sachs and will allow TemperPack to expand manufacturing and become known to more customers.

 

Investments grow upward for Vertical Harvest in Series A funding

Vertical Harvest secured $8.35 million in its Series A funding round led by Nicoya and Raiven Capital. The vertical farming company also saw investments from Mike Krupka, a partner at BainCapital Ventures , and Oatly co-founder Björn Öste . Vertical Harvest produces packaged salads of microgreens, lettuces, tomatoes and edible flowers. The goal of Vertical Harvest is to create a network of local , sustainable farms in urban environments while having an inclusive employment scheme.

 

Investors flocked to plant-based meats in April

Food tech companies inventing meat alternatives seem to be all the rage these days for both startups and venture capital. This makes sense given consumers growing interest in caring for the environment and nutrition. Planetary tapped into an $8 million cash infusion to construct an industrial-scale production facility. This facility will allow its customers to use fermentation technology to speed up the process of creating and scaling alternative proteins. Nowadays, a health-focused scalable plant-based chicken nugget company, closed a $7 million seed round. UPSIDE Foods , an “any species ” cultivated meat company, closed a $400 million Series C funding round. As more food tech companies ar e finishing the development stages , they are beginning to prepare for growth. Realistic plant-based chicken breast makers Umiami use proprietary techniques , and Hafood Scops creates their plant-based chicken from peanuts. The two French and Chinese startups have raised $30 million and $3.5 million, respectively.

 

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 March 31, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

MelBio is bringing a brand new buzz to the $10B global honey market

What happens when you take the bee out of the honey-making process? You save the bees. Bee-free honey aims to bring sustainability to an agriculture sector that has been prone to quality and supply issues. Keeping honeybees in hives has a devastating impact on local and wild bee populations. From the minds of a scientist, amateur chef, and former bee-honey industry executive, co-founders Darko Mandich and Aaron Schaller are using precision fermentation and plant science to make honey without bees. In doing so, they help preserve bee biodiversity. With $5.7 million in seed funding, led by Astanor Ventures, and 30 signed letters of intent from companies to do validation studies, MelBio’s product launches in April.


Investing in the next generation: The two companies raising funds for innovative infant formula

Investors are taking note of the importance of early childhood nutrition to lay the foundation for a healthy life. ByHeart recently raised $190 million in funding and Bobbie has secured $50 million in new financing. Both companies are looking to disrupt the US infant formula market by formulating new solutions for babies to come. The two use organic, grass-fed milk and aim to use only clean ingredients that closely resemble the nutritional composition of breast milk. Seeing the pressure new parents face with regard to breastfeeding, Bobbie will use its new funding to support its subscription-based service. This guarantees that parents will have monthly deliveries of formula in a $67.3 billion and growing industry that has been unable to meet demand and often falls victim to supply-chain issues. ByHeart will continue to use its funding to create innovative formulas using its patented protein blend and FDA-registered manufacturing.


Food tech company Mori raises $50M in Series B1 funding round

Mori’s technology, focused on creating more sustainable food supply chains, extends shelf life to reduce waste. Using a proprietary process of just salt, water and heat, natural silk proteins are extracted, protecting food and slowing spoilage. In a fragile food system—as proven by the labor shortages and shipping delays of the past two years—reduced food and packaging waste will lead to a lower carbon footprint and lesser impact on natural resources.


Seaweed sizzles with a $3M investment launch

Plant-based bacon takes to the sea at Umaro Foods Inc. The food technology at Umaro focuses on using a proprietary red protein from seaweed for its plant-based bacon that is rich in umami and closely resembles the real thing. Ocean-farmed seaweed is a sustainable source of high-quality and abundant protein. With the closing of a $3 million seed fundraise Umaro Foods will launch its plant-based bacon at select restaurants in Q2 of 2022. Co-founders Beth Zotter and Amanda Stiles will also appear on ABC’s Shark Tank on April 1, 2022.


Molecular dairy farming startup Miruku secures $2.4M in seed funding round

Venture capital fund Movac led funding for the New Zealand-based startup, with participation from Better Bite Ventures, Ahimsa Foundation, and NZ Growth Capital Partners’ Aspire fund. Miruku’s founders Amos Palfreyman, Ira Bing, Harjinder Singh, and Oded Shoseyov use their combined expertise in the dairy and science fields to create an animal-free dairy protein. The molecular farming process uses plants to manufacture proteins, fats, and sugars traditionally sourced from animals. Cutting out the need for animals to produce proteins allows the plants to create the same proteins directly while improving the food system’s energy and production efficiency.


Personalized supplements from doctors straight to your door

OK Capsule, founded by CA-based Dr. Andrew Brandies, has raised $9.5 million in early funding. Dr. Brandies is an ND and personalization expert with 20+ years of experience in primary medical care and health technology startups. Using technology that allows for integration into multiple platforms such as API, Zapier and Shopify OK Capsule provides a safe, sustainable and supported way for companies to launch an any-size scale of personalized supplement packets to their consumers.


Investments are brewing: $5M funding round for Wandering Bear

Organic coffee company Wandering Bear has raised $5 million backed by existing investors. Wandering Bear Cold Brew Coffee On Tap was the first to package cold brew as a bag in a tapped box that, much like boxed wine, allows the coffee to stay fresh much longer after opening. They aim to keep their cold brew convenient and readily accessible for customers while being sustainable.


Local Bounti is taking more inside with $122.5M acquisition of indoor farming operator Pete’s

Expecting to close the transaction early in the second quarter indoor farming company is acquiring indoor farming competitor Hollandia Produce Group. A part of Hollandia Produce Group’s leafy greens sellers, Pete’s has three indoor growing facilities and distributes to 10,000 retailers including Kroger, Target, and Walmart. All of Pete’s 130 employees will join Local Bounti as it plans to install its Stack & Flow vertical farming technology. This is Local Bounti’s first acquisiton since the startup went public.


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 February 28, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

Got Chickpea milk? Global Food and Ingredients snags YoFiit

Touted for its high protein and omega-3 content, chickpea milk may be the latest alternative dairy product to get investors’ attention. Global Food and Ingredients (GFI) has acquired YoFiit, a Canadian snack, granola, and chickpea milk brand operated by Your Fitness Dish Inc. One of very few chickpea milk companies, YoFiit is conducting extensive R&D to expand its range with plant-based yogurts, egg replacements, and more milk alternatives.

Splendid Spoon secures $12M in Series B funding

Thanks to its unique take on the meal delivery service trend, investors are digging Splendid Spoon’s plant-based model. The company delivers to every state in the continental U.S. and offers more than has 50 plant-based items. One differentiator for the company is that customers can shop on-demand without signing up for a subscription. Splendid Spoon doubled its growth rate since 2020, has over 20,000 subscribers and recently secured $12 million in Series B funding. The round was led by Nicoya with participation from Danone Manifesto Ventures, Torch Capital, Reddit co-founder Alexis Ohanian, Rent the Runway co-founder Jennifer Fleiss and Ashok and Meera Vasudevan, founders of Tasty Bite.

Good Culture grows, secures $64M in Series C

(Irvine, Calif.) Good Culture, the clean-label cultured foods brand focused on cottage cheese, announced the completion of $64 million in Series C funding led by Manna Treet with participation from SEMCAP Food & Nutrition and celebrity investor Kristen Bell. The company has experienced 79% Compound Annual Growth Rate over the last five years, while increasing its distribution footprint to over 10,000 stores and is focused on securing funding from sources aligned with its mission to create foods that are healing for people and the planet.

Olipop quenches investors’ thirst for innovative functional beverages

Functional beverage brand Olipop, which makes flavored functional sodas with digestive health benefits, completed a $30M Series B funding round, led by Monogram Capital Partners. Other investors included former PepsiCo CEO Indra Nooyi and her husband Raj, Anjula Acharia, Rocana Venture Partners, and celebrities such as Gwyneth Paltrow, Joe Jonas and Mindy Kaling. “Our goal has always been to offer a product that can truly occupy the space that traditional soda has filled while also contributing to consumers’ overall wellbeing,” said Ben Goodwin, co-founder, CEO and formulator at Olipop.

Over the moon: Moon Juice Raises $7M Series C

A company representing the intersection of beauty and wellness has secured additional funding for its line of wellness supplements and topical beauty products. The brand, which launched in 2011, recently raised a $7M Series C led by emerging growth fund True Beauty Ventures. Prior to this, Moon Juice didn’t take on any outside capital since 2017 and has revenues reported in excess of $20M.

Purely Elizabeth closes $50M Series B

Purely Elizabeth, which has a product line of nutrient-dense breakfast foods, has closed a $50M Series B financing round, which was backed by the newly launched food and nutrition division of Seminal Capital (SEMCAP). The company’s portfolio includes pancake and waffle mix, granola and oatmeal, and the company says that it plans to introduce new products as well as launch into a new category. Purely Elizabeth will use the new funds to invest in marketing and product innovation, and to support its growth in the ecommerce channel.“Since 2016, SEMCAP’s John Haugen and Ryan Newcom have served on my board and played an instrumental role in helping scale the business,” said Elizabeth Stein, Purely Elizabeth founder and CEO.

A sea of opportunities for plant-based seafood company Mind Blown

Adding to the list of natural products brands receiving investment and endorsement from celebrity chefs, The Plant-Based Seafood Co., producers of award-winning Mind Blown seafood products, announces an investment of an undisclosed amount from celebrated chef Spike Mendelsohn. The Plant-Based Seafood Co. is a female-founded company whose best-selling Mind Blown line includes plant-based shrimp, scallops, oyster, lobster and crab cakes. The owners previously operated a traditional seafood company, and say their industry experience helps them create plant-based seafood with realistic tastes and textures.

Everything Legendary closes $6M Series A

The future is looking bright for the Maryland-based, black-owned alternative meat company that has closed a $6 million Series A funding round led by CircleUp Growth Partners with additional investments from General Mills’ 301 INC and “Shark Tank” star Mark Cuban. In less than a year since launching, it gained national distribution in 1,500 grocery stores, including Safeway and Target, and will be available in 5,600 grocery stores soon. “What has our investors excited about us is they can see that we aren’t just another plant-based product … we are looking to disrupt the multi-billion-dollar industry with unprecedented flavor, premium ingredients and high-energy marketing that sets our brand apart,” said Duane “Myko” Cheers, co-founder of Everything Legendary.

Plastic-free delivery service Zero Grocery on the way … to success

Zero Grocery’s model that strives to provide both the convenience and speed consumers are used to from their delivery services, as well as meet consumer demand for more sustainable options, is garnering investor attention. Zero Grocery is a plastic-free grocery, home and personal care delivery startup founded in 2019 by CEO Zuleyka Strasner, who started the company in 2019. Three years ago, it had raised just $4.7M in funding. Today, the company announced another $11.8 million in new seed funding, led by Sway Ventures, to give Zero $16.5M in funding to date.

 

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 January 31, 2022

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Recent Transactions in the Nutrition and Health & Wellness Industry:

Remilk raises $120M in a Series B round with precision fermentation that hits the mark

Holy cow! Remilk, an Israeli company that makes animal-free dairy proteins through precision fermentation, raised $120 million in a Series B round, increasing its financials 10-fold. The company will use this funding to scale commercial use of the ingredients in products including ice cream, cheese and yogurt and represents a growing body of companies focused on using unique processing and technologies to replicate animal-proteins sans animal.

 

Yolélé secures $1.98M in new funding for ancient grains

Investors are taking notice of Yolélé, a chef-driven brand bringing the West African ancient grain fonio to U.S. consumers. The company is part of an agro-processing operation called WAAG, which will build a supply chain connecting smallholder farmers with local and global markets for biodiverse, climate-resilient crops. A grant of $1.98 million for WAAG will support U.S. market development and promotion, supply chain development and the establishment of a new Mali-based processing center.

 

Investment heats up for cold-brew coffee startup Brewbike

Add a splash of college-minded entrepreneurship to your cuppa joe and you have a rich idea, according to investors. Evanston, Illinois-based Brewbike, which currently operates student-run coffee businesses on four U.S. college campuses, raised more than $3 million in its latest round of bridge funding to expand operations. “With this new funding, we’ve launched our direct-to-consumer product, built a new brand and website, are expanding from four to 11 campuses with more on the way. We are excited for the reach and impact this funding will allow us to have and are excited to partner with everyone who participated,” said Sierra Bloodgood, CEO of Brewbike. Investors include CEAS Investments, Connetic Ventures, Koto, Techra Investments, Mats Lederhausen’s Be-Cause Ventures, Westbrook Inc., Joe Mansueto and Venetia Kontogouris.

 

Wellness Innovations BV’s fish-free positioning hooks investors, reels in €1.2M

(Almere, Netherlands) Wellness Innovations BV, whose consumer brands are Testa Omega-3 and Daily Supplements, announced a successful crowdfunding round, raising €1.2 million. Both Testa Omega-3 and Daily Supplements share a mission of eliminating all unnecessary fishing by 2035 and contain entirely plant-based portfolios. “We are already well on our way in this mission,” co-owner Martin de Vries said in a statement. But with the share of algal oil in the total omega-3 market only at around 5% “we still have a long way to go to realize our goal. Growth is therefore necessary and we are taking steps to the other continents. In addition, we are broadening our portfolio.”

 

Aw, smucks! JM Smucker sells off natural beverage and grains brands to Nexus Capital Management for $110M

Orrville, Ohio-based JM Smucker has agreed to sell its natural and organic beverage and grains businesses, including RW Knudsen and TruRoots brands, to Nexus Capital Management for $110 million. “This transaction supports our strategy to direct investments and resources toward core brands positioned for growth. By focusing resources on our core brands, including Uncrustables sandwiches, Jif and Smuckers, we are positioning ourselves to build on our market leadership while continuing to support the growth of the overall category,” said Tina Floyd, vice president and general manager of consumer foods at JM Smucker.

 

Wellbeam Consumer Health LLC bets on anti-aging’s longevity

(San Francisco) Wellbeam Consumer Health LLC recently announced the acquisition of BioTRUST Nutrition LLC., an eCommerce healthy living and nutrition brand, including protein, collagen, healthy living, anti-aging and digestive health products. “With the addition of BioTRUST to the portfolio, Wellbeam Consumer Health not only adds a fast-growing, differentiated brand and leader in the healthy aging space, but also offers a best-in-class data-driven DTC eCommerce competency on top of current deep expertise in eCommerce marketplace and brand management,” said Chris Marschall, CEO of Wellbeam Consumer Health. “The addition of BioTRUST is another significant step to building the leading eCommerce-focused consumer wellness company with a mission to help consumers live healthier lives.”

 

MycoWorks proves funghi fashion is in style, raises $125M in Series C financing

(Emeryville, California) First powder, then jerky, now textiles? That’s what MycoWorks believes is next for mushrooms, as it looks to replace leather with a fungal-based biomaterial. The company recently brought in $125 million in Series C financing, which it will use to fund a production plant for scaling the manufacture of its flagship product Reishi. “A lot is happening in this space,” said CEO Matt Scullin. “Mycelium is a tunable material, and a lot of folks are entering the space because they see opportunity for it.” MycoWorks aims to focus on high-quality, scalable practices with its latest round of funding.

 

Coffee talk: Dutch startup PectCof raises €2M

With a focus on transforming coffee pulp biomass into valuable bio compounds, Dutch startup PectCof has already proven the concept effective with its Dutch Gum, which has been successfully tested as an emulsifier, stabilizer and texturizer in candies, sauces and soft drinks. “We cut CO2 emissions and pollution by recognizing coffee pulp as a valuable resource while we also create an additional revenue stream for coffee farmers,” said Founder Rudi Dieleman.

 

Investors dance with Foxtrot’s reimagined convenience store concept

Consumers and investors are eating up this fresh, innovative take on the classic convenience store; since 2020, Chicago-based Foxtrot has added 16 retail locations across Dallas, Chicago and Washington D.C. and is now offering curated artisan products in addition to its core offerings of coffee, ready-to-eat cafe meals and wine. Its latest Series C round of $160 million was led by led D1 Capital Partners, which was joined by existing investors Monogram Capital, Imaginary, Almanac, Wittington, Fifth Wall, Beliade, Lerer Hippeau and Revolution.

 

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.