News for December 13, 2023

Fantuan raises $40M funding

Vancouver-based Fantuan, a Chinese food delivery experience replicator, secured $40 million in a Series C round led by Celtic House Asia and GrubMarket. The funds will aid Fantuan in expanding its authentic Asian food delivery globally and evolving into a comprehensive platform for leisure activities

Carbon Maps secures funding

French startup Carbon Maps, focusing on environmental accounting for the food industry, secured $7.6 million in funding. The platform helps food companies assess their products’ environmental footprint, considering factors like energy consumption and packaging, with standardized recommendations for eco-scores and sustainability objectives

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Farmless secures €4.8m funding

Farmless, a Dutch fermentation startup, secured €4.8 million in seed funding for its landless microbial protein. Using a biomass fermentation technique with liquid gases as feedstock, Farmless produces climate-friendly functional proteins locally, claiming to be carbon-negative and environmentally efficient compared to traditional protein sources

Clever Carnivore raises $7M

Chicago-based Clever Carnivore, a cultivated meat biotech startup, raised $7 million in a seed round led by Lever VC. Using cell biology technology, the company grows meat in food production facilities, and the funds will support expanding operations, scaling production and introducing the Clever Bratwurst in early 2024.

ROAR Organic secures $6M

Hydration brand ROAR Organic secured $6 million in fresh capital, bringing its total funding to approximately $26 million. With a 116% increase in gross revenue in 2022, ROAR Organic plans to accelerate innovation, sales and marketing, anticipating 2023 as its highest growth year

L’Oréal acquires Lactobio

L’Oréal has completed the acquisition of Copenhagen-based Lactobio, a probiotic and microbiome research company. The acquisition enhances L’Oréal’s expertise in microbiome research, aiming to develop safe and effective cosmetic solutions using live bacteria derived from a biobank of lactobacillus bacteria.

Framptons targets UK oat milk

Profura-acquired Framptons aims to lead the UK’s oat milk sector, focusing on carbon-conscious plant-based drinks. The 125-year-old company plans to sell off its egg business and emphasize plant-based alternatives using locally sourced materials, aligning with Profura’s strategy of investing in high-growth potential companies

Alchemy Foodtech bags investment

Singapore-based Alchemy Foodtech secured a strategic investment of over S$8 million from Ting Li Development. The deal aims to reduce sugar and carbohydrate content in Ting Hsin International’s F&B products, promoting healthier versions through increased dietary fiber and prebiotics.

Suntory invests in Atomo

Suntory Holdings invested multimillions in Atomo Coffee, a US startup known for its “beanless coffee.” Atomo provides a sustainable alternative to traditional coffee, using eco-friendly superfoods and upcycled ingredients. The investment aligns with Suntory’s strategy to support innovation and sustainability in the beverage industry

Pharmavite acquires Bonafide Health

Pharmavite LLC acquired Bonafide Health, a women’s health company specializing in menopause management, for $425 million. The acquisition expands Pharmavite’s women’s health business and positions the company as a leader in women’s health nutraceuticals.

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Ryp Labs raises $8.1M

Seattle startup Ryp Labs secured $8.1 million in a Series A round led by King Philanthropies. Ryp Labs aims to fight food waste with plant-based stickers extending the shelf life of fruits and vegetables, with successful pilots showing significant extensions in strawberry shelf life.

Spirited Brands raises $4.5M seed funding

Spirited Brands Holdings secured $4.5 million in seed funding for its low-alcohol beverage brands, Soké and Soula. The brands offer Asian-inspired sodas and Mexican-inspired margaritas, catering to consumers seeking premium, lower-calorie options in the beverage market.

Ripple Foods raises $49M

California-based Ripple Foods, a female-led pea milk maker, secured $49.2 million in funding. The funds will accelerate innovation, expand into new markets and contribute to the growth of the plant-based foods industry, capitalizing on the increased interest in the pea milk category.

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