News for March 27, 2024

AI Palette secures $5.7M

Singapore-based startup AI Palette has secured $5.7 million in funding to expand its AI-powered platform for food innovation, with plans to broaden into beauty and personal care. The platform, already utilized by major players like Nestlé and Diageo, incorporates a chatbot named FoodGPT and aims to accelerate product development by analyzing vast data sets to identify trends and generate tailored concepts rapidly.

Dairy alternative funding

Cultivated Biosciences secures $5 million in funding to expand production and accelerate regulatory approvals for its yeast-derived cream, aiming to enter the US market next year and the EU by 2026. The Swiss startup focuses on delivering a creamy, functional and environmentally friendly alternative to traditional dairy products through its unique fermentation process.

Umaro Foods’ new financing

Umaro Foods, backed by $3.8 million in new financing, is set to launch its seaweed-based bacon in retail markets at half the cost of traditional bacon production. The company’s innovative continuous manufacturing process, patent-protected formula and plans for scaling up seaweed protein extraction highlight its commitment to cost efficiency and sustainability in the alternative meat industry.

Van Heron Labs secures $1.1M

Van Heron Labs has secured $1.1 million in funding to enhance its precision nutrition strategies for optimizing cell growth in biomanufacturing. Using genetics, bioinformatics and AI, the company aims to revolutionize various industries like biopharma, foodtech and agriculture by improving cellular processes and scalability through tailored nutrient formulations and advanced technologies.

MALK secures funding, unveils new products

MALK Organics, a plant-based milk company, has received significant funding from investment firms Benvolio Group and Rotor Capital. The new capital enables the brand to expand its retail presence, enhance marketing efforts and innovate in product development. The company has also introduced three new products—almond-based milk, oat-based milk and cashew-based milk—with a focus on clean, organic ingredients. These developments align with MALK Organics’ mission to provide accessible and healthier alternatives to consumers, with plans for increased distribution in major retail chains like Whole Foods, Albertson’s, Stop N Shop, Kroger and Target.

ProteinDistillery raises €15M

ProteinDistillery has secured €15 million in seed funding, marking a significant step in its mission to innovate the food industry with plant-based proteins. The investment will support market entry, partnerships and launching Europe’s first protein-competence center, highlighting a shift towards sustainable and functional protein alternatives.

New chapter for Momentous

Momentous, a leading human performance company specializing in supplements and nutrition, has announced a strategic partnership with Humble Growth, a growth equity firm. The partnership involves Humble Growth acquiring a minority stake in Momentous, marking a significant milestone for the best-in-class supplement company as it aims to expand its reach and innovation in the health and wellness industry.

New Series A funding for Naturanic

Naturanic, a Brazilian startup specializing in healthy snacks, has secured $2 million in Series A funding led by Moriah Asset, a Brazilian investment firm focused on wellness and sustainability. This investment will fuel Naturanic’s expansion in the US market, allowing it to increase production capacity, introduce new product lines and strengthen partnerships with organic producers while adhering to its commitment to natural, organic and environmentally responsible snacks.

Tierra Biosciences secures $11M

Tierra Biosciences secures $11 million in funding to advance its AI-guided protein synthesis platform, enabling faster development of pharmaceuticals and industrial and agricultural proteins within weeks instead of months. The company’s cell-free technology offers a high-throughput approach, leveraging AI models to predict protein functionality and providing valuable data to customers, ultimately streamlining the protein development process and saving time and costs compared to traditional methods.

Liquid Death’s valuation soars

Los Angeles-based water brand Liquid Death has achieved a $1.4 billion valuation after securing $67 million in new financing, doubling its value from 2022. The company, known for its unique marketing and expanding product lines like iced tea and flavored waters, plans to use the funds for further product development and profitable growth strategies, emphasizing its commitment to building a valuable brand beyond functional differences.

A big investment in Tiny Health

Tiny Health, a pioneer in at-home baby gut microbiome testing, secures $13 million in funding to advance gut health innovation and combat pediatric chronic conditions affecting nearly half of US children. The company’s expansion aims to offer whole family testing and vaginal microbiome analysis, with a focus on early detection and correction of gut imbalances to improve long-term health outcomes.

Green Boy invests in Sigma

Green Boy has made a strategic investment in Sigma Oil Seeds B.V., a leading plant-based organic oil producer based in Rotterdam. Sigma Oil Seeds supplies high-quality oils like coconut, sesame and walnut oil to the plant-based food and cosmetic industries. With Green Boy’s support, Sigma Oil Seeds aims to expand globally. Green Boy’s investment is expected to accelerate Sigma Oil Seeds’ growth and market expansion, particularly in the U.S., Canada and Europe, aligning closely with both companies’ core values of organic ingredients, sustainability and transparency in the plant-based food industry.

Serenity Kids secures $52M

Serenity Kids, a leading shelf-stable baby and toddler food brand, has secured a $52 million Series B investment round led by Stride Consumer Partners to boost its growth, retail distribution and innovation efforts. Founded in 2018, Serenity Kids has quickly become a top-selling brand with nutrient-dense products. The company plans to use the funding to expand its reach and offerings while maintaining its commitment to providing healthy options for children.

LactaLogics secures $92M

LactaLogics, a Florida-based company specializing in human milk-based nutrition, secured $92 million in funding from various sources, including USDA, the US Department of Energy and private investors. Led by CEO Glenn Snow, the company plans to use the funds to expand its human milk processing technology at its Port St. Lucie facility, aiming to provide critical nutrition to at-risk infants and support breastfeeding goals.

Döhler invests in Vertosa

Döhler Ventures, the investment arm of ingredient manufacturer Döhler, invests in Vertosa, a company specializing in infusion technology for cannabis and hemp products. This investment aims to facilitate a partnership between Döhler and Vertosa to research and develop innovative life science products for the beverage sector, focusing on natural ingredients and infusion technologies for lifestyle beverages. Both companies are committed to setting a high standard for cannabis beverages through collaboration and co-created intellectual property.

Funding for algal protein

Poseidona, a female-led startup based in Spain, has secured €1.1 million in funding to develop its innovative algal protein ingredients further. Led by Faber and joined by other investors like Proveg International and WA4STEAM, Poseidona aims to use algal sidestreams and invasive seaweeds to produce sustainable proteins with lower environmental impact, contributing to marine ecosystem management while accelerating research and market entry.

Cocoa-free funding

UK-based Nukoko secured $1.5 million in funding to expand its cocoa-free chocolate made from fava beans. The company aims to address cocoa supply deficits due to climate change and reduce carbon emissions associated with traditional chocolate production. Nukoko’s innovative approach offers a sustainable, ethically sound, and nutritious alternative with 90% fewer carbon emissions and 40% less sugar than regular chocolate.

Leonsis’ AI startup nets $2.3M

Ted Leonsis-backed Proxy Foods Inc., an AI startup facilitating recipe creation for food and beverage companies, secured $2.3 million in funding, with Leonsis himself participating in the seed round. The fundraising campaign, which commenced in October, aims to bolster the company’s innovative approach to culinary AI solutions.

ANDFOODS raises $2.7M

New Zealand-based startup ANDFOODS, originating from Massey University and the Riddet Institute, secured $2.7 million in seed funding for its legume-based dairy alternatives, which include plant-based creams and milk powders. Using fermentation technology, ANDFOODS eliminates off-notes while maintaining nutritional benefits and functional properties, positioning itself as a top contender in the rapidly growing market of allergen-free dairy alternatives.

Sanzo attracts A-list investors

Sanzo, America’s pioneering Asian-inspired sparkling water brand, has welcomed Grammy-nominated music producer Steve Aoki and actor Simu Liu as investors. Both Aoki and Liu share Sanzo’s vision of celebrating the modern Asian diaspora and believe in the appeal of Asian-inspired products in the United States. With their support, Sanzo plans to expand into music, sports, fashion and food industries while continuing to promote Asian flavors through its innovative beverages.

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