News for April 10, 2024

Wonder secures $700M funding

Wonder, a food hall business with 11 units, secured a massive $700 million in funding, including investments from various shareholders and new backers. The company, led by Marc Lore, plans to aggressively expand to 90 units by 2025, focusing on culinary innovation, technology enhancements and partnerships with renowned chefs to stand out in the competitive delivery-centric restaurant market.

Nutrition startup support

Chiyo, a food-as-medicine startup, has raised $3 million to support postpartum moms with nutrition. Chiyo offers meal delivery services, digital guides and health coaching. It aims to revolutionize women’s health with its holistic approach and research-backed nutrition programs, drawing inspiration from traditional Eastern food therapy.

Funding secured for sustainable substitutes

Clean Food Group has secured £2.5M in funding led by the Clean Growth Fund for its sustainable oil and fat substitutes, aiming for a commercial launch in 2025. By utilizing food waste and innovative fermentation technology, CFG’s products offer a 90% reduction in greenhouse gases compared to traditional palm oil, addressing critical environmental concerns in the food and cosmetics industries.

Revolutionizing dairy with AI

Under CEO Oliver Zahn’s leadership, Climax Foods has secured additional funding from Untapped Ventures, joining existing investors At One Ventures and Index Ventures in a seed round totaling $28 million. This significant investment underscores the growing confidence in Climax Foods’ innovative approach to dairy alternatives, leveraging AI technologies to create sustainable and cost-effective plant-based products. With this funding boost, Climax Foods aims to expand its product offerings beyond cheese, tapping into a broader market of dairy-free alternatives and paving the way for a more sustainable future in the food industry.

SEMCAP invests in ALOHA

SEMCAP Food & Nutrition has invested $68 million in ALOHA, acquiring a significant minority stake in the plant-based protein brand. This partnership aims to leverage SEMCAP’s expertise to further ALOHA’s growth in traditional retail and digital channels, solidifying its position in the plant-based protein market while maintaining ALOHA’s status as an independently operated entity under CEO Brad Charron.

Goli acquisition and growth

Goli Nutrition has been acquired by a group that includes Group KPS, Bastion Capital and one of Goli’s original founders. The group aims to strengthen its position for growth, expand into new markets, invest in innovation and enhance partnerships with global retailers. With over 5 million customers and a strong brand backed by well-capitalized sponsors, Goli is poised for sustained success in delivering high-quality, enjoyable nutrition products worldwide.

Clean Food Group raises £2.5M funding

Clean Food Group secures £2.5M in funding led by Clean Growth Fund for its sustainable oil and fat substitutes, aiming for a 2025 commercial launch. CFG’s innovative products, derived from food waste, promise a 90% reduction in greenhouse gases compared to traditional options, addressing climate concerns and fostering a more sustainable food system.

A rebranding campaign success

Lucky F*ck Energy now rebranded as Lucky Energy secured an $8 million investment and launched a new campaign, “Search at Your Own Risk,” featuring a comedy short series and innovative marketing strategies. The rebranding initiative, fueled by a vision for a cleaner energy drink without compromising taste or performance, aims to challenge industry norms while attracting a growing audience.

heywell announces lead investor

Chicago-based heywell, known for its functional sparkling waters aiding energy, immunity, focus, hydration and stress management, has received a significant boost with Alethia Venture Partners leading their first strategic funding round. This investment, spearheaded by serial entrepreneur Mike Warren, marks a pivotal moment for heywell, supporting their expansion into marketing and sales initiatives, including launching their newest flavor, energy + lift cherry limeade. The company’s partnership with Green Spoon and its presence in major retailers like Mariano’s and Central Market further solidify its position in the thriving wellness beverage market.

Funding secured for REDUCED

REDUCED, a Copenhagen-based startup specializing in natural ingredients extracted from food industry side streams, has secured €6 million in funding from investors, including Novo Holdings and Einar Willumsen. The investment will fuel REDUCED’s technology development, expand its product range and boost sales efforts, aiming to capitalize on the €31.5 billion global savory food ingredients market while reducing CO2 emissions through sustainable practices.

Onego Bio Series A

Onego Bio secures a $40 million Series A funding round led by NordicNinja. The company aims to launch its precision-fermented egg protein, Bioalbumen, in North America pending regulatory clearance. Using precision fermentation with a fungal strain, the company produces a bioidentical version of ovalbumin, promising nutritional completeness, environmental benefits and scalability while targeting various food applications and expansion into global markets.

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