News for February 28, 2024

2024

Recent Transactions in the Nutrition and Health & Wellness Industry:

AtmosZero closes $21M Series A

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

 

Beanless coffee startup expansion

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

 

Culture POP secures new funding

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

 

Spacegoods expands mushroom products

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

 

Cultivated pork fat funding

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

 

Cargill invests in ENOUGH

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

 

Skincare investment by Verlinvest

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

 

Sunday Natural secures investment

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

 

Fermentation for alternative seafood

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

 

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.

Upcoming Events

 
 
NCN Investor Kickoff & All-Start Pitch Showcase at Expo West 

March 10 | 10:00 a.m. – 12:00 p.m. PST | Grand Ballroom F | Anaheim Marriott

Learn More

 

Exclusive Cohort of Emerging Supplement Brand Founders 

March 26 | 1:00 p.m. – 4:00 p.m. EDT | Virtual

Pure Branding, a trusted mentor and sponsor in our NCN community, is assembling an exclusive group of emerging supplement brand founders for a special cohort on March 26, featuring their census-balanced 2024 U.S. Supplement Consumer PureSegmentation™ Research. This critical market data is designed to be a roadmap for attracting investors, winning new customers, and boosting retention, and it’s offered at a significant discount for early-stage supplement brands.

Learn More

 

NCN Spring Investor Meeting 

April 30 – May 1 | Current at Pier Sixty | New York, NY

Learn More

 
NCN Europe Investor Meeting 

May 14 | Geneva, Switzerland (in partnership with Vitafoods Europe)

Learn More

 

News for February 15, 2024

2024

Recent Transactions in the Nutrition and Health & Wellness Industry:

More mushroom money

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

 

A buzzy investment

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

 

Freja secures £2M

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

 

Timeline Nutrition closes successful Series D

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

 

Old McDonald had a robot

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

 

Food as medicine

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

 

Funding 15 years of plastic-alt research

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

 

$15.4M for cocoa-free chocolate

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

 

Alter Eco acquired

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

 

The Coconut Collaborative raises £1.5M

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

 

Brita acquires Larq

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

 

Odyssey secures $6M

Odyssey, a mushroom-based energy beverage startup, has secured an additional $6 million in funding, totaling $14 million since its inception two years ago. Their drinks, infused with Lion’s Mane and Cordyceps mushrooms, offer cognitive benefits alongside an energy boost, addressing the demand for healthier alternatives in the functional beverage industry. With expanding distribution and strategic investment, Odyssey aims to fuel its growth, emphasizing a broader movement towards healthier consumption habits.
 
 

The Zero Proof closes Series A

The Zero Proof, a leading online retailer of adult non-alcoholic beverages, has successfully closed its Series A funding round led by Asahi Group Beverages & Innovation, further solidifying its position in the $1.8 billion U.S. market. The company plans to use the funding to expand its distribution network, hire salespeople and broaden its non-alcoholic spirits and wine portfolio. With a 300% revenue growth in Q4 from 2022 to 2023, The Zero Proof anticipates continued success driven by the growing demand for adult non-alcoholic beverages, particularly among Millennials.
 
 

Creations Foods acquires Highkey

Creations Foods, a US-based company focusing on healthier snacks, has acquired Highkey, another US-based peer, in an undisclosed deal. This acquisition aligns with Creations’ strategy to expand its portfolio of better-for-you snack brands following its previous acquisition of Moon Cheese. Creations aim to strengthen both brands in the market and actively seek further acquisitions in the better-for-you snack segment.

 

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.

Upcoming Events

 
 
Investor Kickoff & All-Start Pitch Showcase at Expo West 

March 10, 2024 | 10:00 am – 12:00 pm PST | Anaheim, CA

Learn More

Spring Investor Meeting 

April 30 – May 1, 2024 | Current at Pier Sixty | New York, NY 

Learn More

 
Europe Investor Meeting 

May 14, 2024 | Geneva, Switzerland 

Learn More

 

News for January 24, 2024

2024

Recent Transactions in the Nutrition and Health & Wellness Industry:

Grupo Bimbo acquires Amaritta

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

 

Tata acquires Capital Foods, Organic India

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

 

Perfect Day secures $90M

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

 

Ingredion Ventures brings Better Juice to US

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

 

AI-powered fermentation for plant-based ingredients

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

 

Better Foods secures investment

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

 

Inspirit Capital acquires This Works

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

 

Fenwick acquires Alabama brand Wickles Pickles

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

 

WTHN Secures $5M funding

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

 

MPearlRock acquires Nutpods

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

 

Compass Diversified partners with Honey Pot

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

 

L’Oréal invests in Timeline

L’Oréal has invested in Swiss longevity skincare brand Timeline as part of an oversubscribed series D funding round that raised CHF 56 million (US $66 million). The investment, led by L’Oréal’s corporate venture capital fund, BOLD, aims to support Timeline’s business growth in the science division and expansion into new markets across food, beauty and health sectors. L’Oréal sees longevity as a new definition of beauty, aligning with its recent investments in technology and biotech companies, including acquiring probiotic and microbiome research firm Lactobio and water tech startup Gjosa to advance its environmental goals.
 

Hi!Papa secures funding

Chinese personal care company Hi!Papa has successfully concluded a Series A+ funding round led by L Catterton, a consumer-focused investment firm managing around $34 billion in equity capital. Founded in 2019, Hi!Papa focuses on skincare solutions for 3- to 12-year-old children in China. The funding, including support from eLong, Edge Ventures and Zhongyuan Capital, positions Hi!Papa to expand its presence in the growing kids’ personal care market in China and leverage L Catterton’s expertise to build its brand.

 

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.

Upcoming Events

 
 
Investor Kickoff & All-Start Pitch Showcase at Expo West 

March 10, 2024 | 10:00 am – 12:00 pm PST | Anaheim, CA

Learn More

Spring Investor Meeting 

April 30 – May 1, 2024 | Current at Pier Sixty, New York, NY 

Learn More

 
Europe Investor Meeting 

May 14, 2024 | Geneva, Switzerland 

Learn More

 

News for January 11, 2024

2024

Recent Transactions in the Nutrition and Health & Wellness Industry:

DayDayCook acquires Yai’s Thai

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

 

Two ingredient companies complete acquisitions

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

Mezcla secures $4M funding

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

 

Hello Bello’s bold move

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

Cat cash: KatKin secures active backing

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

Platinum Equity acquires two big names from Danone

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

Oakberry secures $67M funding

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

Voyage Foods is on a successful funding expedition

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

 

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.

Upcoming Events

 
 
Investor Kickoff & All-Start Pitch Showcase at Expo West 

March 10, 2024 | 10:00 am – 12:00 pm PST | Anaheim, CA

Learn More

 

Spring Investor Meeting 

April 30 – May 1, 2024 | Current at Pier Sixty, New York, NY | Hybrid Event

Learn More

 
Europe Investor Meeting 

May 14, 2024 | Geneva, Switzerland | Hybrid Event

Learn More