News for December 14, 2022
Recent Transactions in the Nutrition and Health & Wellness Industry:
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.
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.
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