News for July 26, 2023

KDP and La Colombe Partnership

Keurig Dr Pepper Inc. (KDP) and La Colombe have announced a strategic partnership that includes a long-term sales and distribution agreement for La Colombe’s ready-to-drink coffee and a long-term licensing, manufacturing, and distribution agreement for La Colombe branded K-Cup® coffee pods. KDP will also make a $300 million cash investment in La Colombe, acquiring a 33% ownership stake. The partnership aims to expand KDP’s reach into the ready-to-drink and super-premium coffee segments while increasing La Colombe’s availability to consumers. The distribution transition and the launch of K-Cup® pods are expected in late 2023 and 2024, respectively.

Botinkit closes $13M Series A

Botinkit, a robotics company that automates and standardizes cooking for chain restaurants, has raised $13 million in a Series A round, with notable investors including Zexiang Li, known for his angel investment in drone giant DJI. Botinkit’s cooking robots, including a wok-shaped robot and a forthcoming deep-fry model, aim to reduce ingredient loss and energy consumption while facilitating cross-regional expansion for restaurants. The company plans to develop multimodal sensors and eventually leverage artificial general intelligence to improve its robots’ understanding of human preferences and refine cooking processes.

Clean-label cereal funding

Clean-label breakfast food company, Seven Sundays recently secured $6 million in growth capital during its latest funding round. The company, known for its gluten-free and grain-free breakfast cereals, granola, and muesli, has been a Certified B Corporation since 2019. Private investors led the funding, as well as Sidekick Partners, Clover Vitality, Bobby Parrish, GRT SHT Ventures, and existing angel investors. Seven Sundays intends to utilize the funds to further product development, enhance employee well-being, and promote sustainability, specifically focusing on regenerative agriculture and upcycled ingredients.

Coffee brand Minus adds new funds

Minus, a San Francisco-based company formerly known as Compound Foods, has secured a new round of funding from the Mexico City venture capital firm Amplifica Capital. The exact investment amount has not been disclosed, but Amplifica Capital typically funds projects with amounts ranging from $100,000 to $500,000. Minus specializes in producing beanless ready-to-drink (RTD) coffee made from a blend of recycled ingredients, brewed through batch fermentation, and caffeinated to imitate the taste of traditional coffee. The company claims to have a significantly reduced carbon footprint and lower water consumption than conventional coffee production.

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Döhler Acquires SVZ

Döhler Group has acquired SVZ, a premium vegetable and red berry ingredient producer. The purchase aims to strengthen Döhler’s global market position and expand its portfolio of natural ingredients and integrated solutions. With production sites in multiple countries, SVZ already has a strong presence in the food, beverage, and nutrition industries, and the acquisition will provide customers with access to a broader range of ingredients, including low-calorie and nutrient-dense options, meeting the growing demand for health and wellness products.

Gaia Tech Closes Pre-Seed Round

Gaia Tech, an ETH Zurich spin-off company, has successfully raised CHF 480,000 in a pre-seed funding round from SICTIC business angels, Venture Kick, and the Stiftung für technologische Innovation STI. The company specializes in extracting natural antioxidants from agricultural waste, particularly olive sidestreams, using a proprietary modular and scalable extraction technology. Gaia Tech aims to transform agrarian sidestreams into valuable products and has received positive market validation for its groundbreaking technology, particularly in the cosmetic ingredients market. The funding will support pilot production, product development, and business expansion, focusing on establishing partnerships with industry leaders.

LatAm beverage co. acquires US cold brew brand

Beliv, a prominent Latin American beverage company, has acquired a 78% stake in High Brew, a leading brand in the cold brew coffee ready-to-drink industry in the United States. High Brew’s cold extraction process results in a beverage with more antioxidants, less acidity, and 11 natural and low-sugar flavors. High Brew is a rapidly growing player in the US market, with a strong presence in over 15,000 locations, including major supermarket chains and e-commerce platforms. The acquisition is part of Beliv’s global expansion strategy and aims to strengthen its presence in the United States further.

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