News for March 6, 2024

Recent Transactions in the Nutrition and Health & Wellness Industry:

Investment in TWF Flours

Zerodha’s Rainmatter has invested Rs 12 crore ($1.4 million) in food tech startup TWF Flours, marking the company’s first institutional funding round since its establishment in 2019. TWF Flours, which focuses on enhancing flour nutrition and quality through innovative milling technology, plans to allocate the funds primarily for research and development. The investment aligns with Rainmatter’s focus on health and wellness startups, expanding its portfolio in fintech, health tech and storytelling sectors.

Ingrediome to scale

Ingrediome, an Israeli food tech startup, claims to have solved the taste problem in lab-grown protein by creating “hybrid meat, dairy and eggs” that combine animal proteins with plant-based ingredients. By manipulating genes and using microorganisms fed with carbon dioxide and sunlight, they aim to create proteins that replicate the taste and texture of traditional meat while significantly reducing production costs. With contracts signed and substantial funding, Ingrediome is poised to scale its operation, targeting the annual production of thousands of kilograms of meat by 2026.

Decarbonising food supply chains

Mondra, a London-based platform to decarbonize food industry supply chains, has secured £3.6m in pre-Series A funding, aiming to combat greenhouse gas emissions in the food industry. Founded in 2020, Mondra utilizes AI to create digital twins of food supply chains, encouraging collaboration among major supermarket chains like Tesco and café brands like Starbucks to reduce the carbon impact of high-priority items. With investments from prominent backers, including 7 Generation Ventures and AlbionVC, Mondra seeks to expedite the roll-out of its platform to UK grocers and establish itself as the market standard in emissions tracking and lifecycle assessments for the food supply chain.

Sugar-to-fiber enzyme innovation

UK startup Zya has unveiled a groundbreaking enzyme that converts sugar into dietary fiber within the digestive system, potentially mitigating health issues caused by excessive sugar consumption. Zya has raised £4.1M ($5.2M) across two funding rounds. With hopes to commercialize its product Convero by 2026, Zya’s innovation aims to address the rampant sugar intake in the US, offering a promising solution amidst rising concerns about obesity, diabetes and gut health. Despite its potential, experts warn that while such technologies offer benefits, they may face numerous regulatory hurdles.

Oishii Secures $134M Funding

US vertical farming company Oishii secures $134 million in Series B funding led by NTT and contributions from various investors specializing in food tech and sustainability. The funding will fuel Oishii’s expansion into new markets, establishing a solar-powered facility and the integration of advanced robotics. Oishii, renowned for its innovative approach to producing cultivation, aims to revolutionize agriculture while prioritizing taste and sustainability, as expressed by CEO Hiroki Koga and NTT’s president Akira Shimada.

Vegan Food Group acquires Tofutown

Vegan Food Group announced its acquisition of Tofutown, a prominent German tofu manufacturer generating €60 million in revenue. This acquisition marks Vegan Food Group’s first since rebranding from VFC Foods, founded by Veganuary co-founder Matthew Glover and chef Adam Lyons in 2020. With Tofutown’s established presence in Germany and the EU, the combined entity aims for profitability in 2024. It aims to expand revenues beyond €100 million, positioning Vegan Food Group as a major player in the plant-based food industry.

Willow secures Kalsec investment

Willow Biosciences Inc. secured a second strategic investment from Kalsec Inc., enabling further development of natural food ingredients. The investment, achieved through a non-brokered private placement, follows Willow’s milestone in developing a strain meeting specific performance criteria. The funds will support product commercialization, development and general corporate purposes within Willow’s sustainable, functional ingredients initiatives.



Disclaimer: NCN does not warrant the accuracy, reliability, or timeliness of any NCN news item. Before relying on any NCN News item the information should be independently verified.

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