News for January 2, 2025
Recent Transactions in the Nutrition and Health & Wellness Industry:
ModifyHealth Secures $13.5M for food-as-medicine expansion
ModifyHealth, a leader in food-as-medicine solutions, raised $13.5 million in a Series C funding round led by the Dohmen Company Foundation (DCF) via its Dohmen Impact Investment Fund. Existing investors RC Capital and Nashville Capital Network also participated. The funding will support growth initiatives, technology enhancements and expanded operations aimed at increasing accessibility to ModifyHealth’s services. The company provides medically tailored meals and telenutrition to address chronic conditions like diabetes, hypertension and obesity. ModifyHealth’s customizable meal plans, including Low-FODMAP and Mediterranean options, are paired with live nutrition coaching and digital education, offering patients practical tools for sustainable health improvements. |
Rosy Soil secures $3.6M to revolutionize sustainable horticulture
Rosy Soil, a sustainable soil company founded in 2022, raised $3.6 million in a seed funding round led by Draper Associates, Superorganism, Climate Capital and Boost VC. Other notable backers include Seth Goldman (Honest Tea), Brandin Cohen (LiquidIV) and Ben Chesler (Imperfect Foods). The funding will drive product development, team growth and expanded retail partnerships with companies like Target and independent nurseries across the U.S. Rosy Soil develops biochar-based potting mixes, an eco-friendly alternative to traditional peat-based soils. Biochar, a carbon-negative material created through pyrolysis, enhances soil health and plant growth while sequestering CO2. This innovation mitigates the environmental damage caused by peat extraction, which contributes to climate change and habitat loss. |
Arla Foods expands whey business with Volac acquisition
Arla Foods Ingredients has acquired Volac Whey Nutrition and its processing facility in Wales, following UK Competition and Markets Authority approval in November. Financial terms were not disclosed. The Wales facility, focused on producing whey protein isolate, whey fat concentrate and lactose, will become a key hub for Arla’s global operations. Whey protein isolate is particularly important in health and sports nutrition markets, where demand is rising. Luis Cubel, group VP and managing director for Arla Foods Ingredients, highlighted the acquisition’s strategic benefits, including expanded market reach, a strengthened supply chain and access to Volac’s expertise and supply network. Both companies prioritize quality, sustainability and innovation. |
Sojourner partners with Hawaii Coffee Company, launches SoJoe Coffee platform
Sojourner Consumer Partners, a private investment firm specializing in consumer-packaged goods, has invested in Hawaii Coffee Company (HCC) and partnered with Anderson Holdings to form the SoJoe Coffee platform. Financial terms were not disclosed. HCC, Hawaii’s leading packaged coffee roaster and a pioneer in flavored coffee in Japan, will remain operational under its current name, retaining its facilities and cafes across Hawaii. The newly formed SoJoe Coffee platform aims to acquire and partner with high-potential North American packaged and ready-to-drink coffee companies. |
Gavan Technologies secures $8M to scale alternative fat solution
Food tech startup Gavan Technologies raised $8 million in a Series A funding round led by Israel’s MoreVC with participation from Lever VC, EIT Food and DarkBoot Group. The funds will establish a pilot production facility in Europe, set to open in April 2025, focusing on bakery and dairy applications. The facility will produce Fatrix, Gavan’s plant protein-based fat solution designed to replace butter and reduce total and saturated fat content in food. Fatrix, made from protein isolate, vegetable oil and water, forms a stable, flavorless gel without requiring novel foods regulatory approval. It’s suitable for both animal- and plant-based products, offering superior nutritional scores. |
Cradle Raises $73.6M to advance AI protein engineering
Swiss startup Cradle secured $73.6 million in Series B funding led by IVP, with Index Ventures and Kindred Capital also participating. This round brings total funding to $101 million and will support scaling operations, expanding its AI platform and growing its engineering team. Cradle’s generative AI technology streamlines protein engineering, reducing the time and cost associated with traditional methods. Its platform supports diverse applications, from pharmaceuticals to sustainable agriculture, with clients like Novo Nordisk and Johnson & Johnson. |
Culina Health raises $7.9M to expand nutrition counseling
Culina Health, co-founded by dietitians Vanessa Rissetto and Tamar Samuels in 2020, has secured $7.9 million in a Series A funding round led by Healthworx, the corporate venture arm of CareFirst. Other investors include Collab Capital, Cake Ventures and GW Ventures. The funding will enhance Culina’s nutrition counseling services, integrate AI platforms to improve care efficiency, and expand the leadership team. Culina connects patients with registered dietitians through virtual care for chronic disease prevention, wellness and weight loss. Its culturally affirming and personalized approach has reached over 10,000 patients, with 70% of the U.S. population currently able to access its platform via insurance and Medicare. |
Marine Biologics acquires Spoitz Enterprises to advance macroalgae innovation
Marine Biologics has acquired Spoitz Enterprises, a Canadian leader in macroalgae biochemical engineering, to expand its capabilities in developing macroalgae applications for food, cosmetics and materials. Financial terms were not disclosed. The acquisition strengthens Marine Biologics’ molecular data platform, enabling innovative product solutions and addressing supply chain bottlenecks. Spoitz’s advanced post-harvest technology and compositional data expertise will complement Marine Biologics’ resources, with a focus on improving taste and functionality in food and beverage applications. Spoitz will operate as a subsidiary, continuing its testing services and quality management solutions. Additionally, the newly established Berkeley Innovation Lab will accelerate molecular design informed by macroalgae’s unique properties. |
Yeastup raises $9.9M to repurpose brewer’s yeast into functional ingredients
Swiss food tech startup Yeastup secured $9.9 million in Series A funding, led by Beyond Impact, Gentian Investments, Newtree Impact and Angel House. Additional support includes $2.75 million in grants from Innosuisse and regional development funds. The capital will transform a former Cremo dairy factory into a facility producing proteins and functional ingredients from spent brewer’s yeast, upcycling 2,000 tonnes annually. Yeastup’s patented process extracts high-value ingredients like Yeastin proteins, beta-glucan and mannoprotein, reducing fermentation bitterness while recovering water for sustainability. Yeastin serves as an egg replacement in vegan mayo, baked goods and meat alternatives, boasting a protein digestibility score of 1 and 74% fewer emissions than pea protein. The facility, opening in 2025, supports rising demand for alternative proteins in food, nutraceuticals and cosmetics. |
One Bio raises $27M to tackle fiber deficiency with innovative tech
UC Davis spinoff One Bio secured $27 million in a Series A funding round led by AlphaEdison with participation from Leaps by Bayer, Mitsui E12, Morado Ventures, DSM and others. The funding supports the company’s proprietary technology to convert agricultural waste into odorless, tasteless and colorless fibers for use in food and beverages. Founded in 2019 as BCD Bioscience, One Bio uses a patented depolymerization process to transform polysaccharides from plants and microbes into soluble oligosaccharides. These fibers can be added to products at high levels without altering taste or texture, helping address the modern dietary fiber gap caused by food processing.
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News for January 2, 2025
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