News for May 8, 2024
Recent Transactions in the Nutrition and Health & Wellness Industry:
Maia Farms to expand mycelium production with $1.7M in pre-seed round
The completion of a $1.7 million seed round by Maia Farms will allow the Vancouver, Canada company to scale up its production platform, delivering higher yields for its mycoprotein products. The company won the Canadian grand prize in the Deep Space Food Challenge with partner Ecoation in April. Joyful Ventures, PIC Group and Koan Capital led the round, which was also supported by angel investors within the Creative Destruction Lab. The company also received funding from the Canadian Food Innovation Network, the National Research Council of Canada, MITACS and the Canadian Space Agency. |
Simply Good Foods acquires Only What You Need for $280 million in cash
Nutritional foods and snacking products company Simply Good Foods in April purchased leading plant-based, RTD protein shake brand Only What You Need (OWYN) for $280 million in cash. The purchase of the fastest-growing RTD protein shake brand raises the Denver, Colorado-based company’s profile in the category, helps diversify its expanding portfolio and further elevates its position in the nutritional foods and snacking products marketplace. |
Swedish ag startup OlsAro raises $2.7M seed round
Future Food Fund and PINC, the venture arm of Paulig, led a seed round for OlsAro, a Swedish company developing wheat varieties that are resistant to environmental stressors. AgFunder, FLORA Ventures and Mudcake also participated in the round, along with current investors. OlsAro will use the capital to expand the team and bring to market OlsAro’s salt-tolerant wheat variety, which field trials have revealed as a variety that leads to significant yield increases and enables farming on land that otherwise was not farmable. |
Specialty egg company Pasture Brands Holdings buys Pillars Yogurt
Pasture Brand Holdings enters the dairy market with the acquisition of Pillars Yogurt, a clean-label drinkable yogurt brand sold at both conventional and natural retailers. By adding Pillars to the Pasture Brands portfolio, Pasture Brands, which is owned by Benford Capital Partners, helps bring better-for-you natural products, from eggs to yogurt, to the dairy case. Benford Capital Partners created Pasture Brands in 2021, when it purchased Farmers Hen House Group LLC, a leading specialty egg brand. |
Former Pepsi, Coke execs behind KEY functional beverage brand
A $4 million seed funding round led by AgFunder and backed by Alethia Ventura Partners and AgFunder SIJ Impact Fund is behind KEY, a startup formed by PepsiCo and Coca-Cola executives that aims to disrupt the functional beverage market. KEY will use the capital to support retail distribution, inventory and marketing efforts. KEY’s first product—which will launch direct-to-consumer and on Amazon, with a retail debut at Erewhon in Southern California—is a zero-sugar energy drink sweetened with stevia, caffeine from green tea and the amino acid l-theanine. It also will contain the branded ingredient Avela, an organic compound that will help the liver provide energy when the body is fasting or in ketosis. |
Underground delivery startup Pipedream raises $13M to build subterranean delivery network
A $13 million round of funding led by Starship Ventures, with participation from Cortado Ventures, will lead to development of underground delivery startup Pipedream’s “Instant Pickup” service and launch construction of the company’s subterranean middle-mile network. The goal of the network is to bring about quicker, more cost-effective urban deliveries. |
Chicken chip manufacturer Wilde Brands gets $20 million in funding
Wilde Brands, which makes chips out of chicken breast, egg whites and bone broth, closed on a $20 million round of funding led by KarpReilly with additional investments from American musicians Jack Harlow and MGK. The Family Fund, Grey Space Group and other existing investors also contributed to the round. Wilde Brands will use the capital to expand its retail presence, bolster marketing efforts and invest in innovation. |
Snacks family of brands Our Home buys historic Sonoma Creamery
With the recent purchase of 93-year-old Sonoma Creamery, snack company Our Home gains the ability to deliver across multiple categories, including cheese snacks. The purchase of Sonoma Creamery includes its production facility and warehouse in Sonoma, California. Sonoma Creamery’s snack brands include Cheese Crisps and Cheese O’s, which are high-protein, gluten-free snacks that come in different flavors. |
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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