News for November 8, 2023
Recent Transactions in the Nutrition and Health & Wellness Industry:
AI-driven designer proteins
Cambrium, a Berlin-based company, has raised €11 million ($11.6 million) to expand its operations in designing sustainable and scalable structural proteins. The company’s initial product, NovaColl, is a modified collagen derivative that can stimulate collagen production better than natural collagen without sourcing from animals. Cambrium uses AI to design proteins, focusing on structural proteins for high-value, low-volume industries such as personal care, offering more sustainable options. Essential Capital led the funding round, and Cambrium is already shipping NovaColl to customers for testing in their products
Aquaculture investment boost
Pacifico Aquaculture, a leader in sustainable aquaculture, has secured project financing from Equilibrium Capital and a significant equity investment from a consortium led by Butterfly Equity and a U.S. public pension fund. The funding will support the development of Pacifico’s nursery facility in Baja, California, and increase its production capacity for ocean-raised striped bass. Pacifico, the world’s only commercial producer of this premium species, aims to meet the rising global demand for sustainably raised striped bass, offering a versatile product favored by chefs and retailers. The investment will enable Pacifico to expand its production capabilities and contribute to the growth of sustainable aquaculture in North America.
Triplebar raises $20M funding
Biotech startup Triplebar has secured $20 million in a funding round led by Synthesis Capital, bringing its total funding to $25 million. The California-based company employs a “hyper-throughput” screening platform using microfluidics, rapid testing and AI to optimize biomanufacturing platforms for microbial and animal cells. Triplebar’s technology allows for the rapid screening of millions of mutations, accelerating the evolution process and enabling the development of more efficient biomanufacturing for various applications, from low-cost animal proteins to therapeutic biologic drug candidates. The funding will support Triplebar in expanding its collaborations and partnerships with companies such as FrieslandCampina Ingredients and Umami Bioworks.
Flavrs adds AI-recommended takeout
Flavrs, an iOS shoppable video app for food enthusiasts, adds a takeout feature and AI-powered recommendations through a custom integration with OpenAI. The app, founded by former YouTube executive Alejandro Oropeza and ex-Google engineer François Chu, initially allowed users to discover recipes and shop for ingredients. With the new changes, Flavrs lets users shop for ingredients and order takeout directly from the app, linking with services such as Instacart and Uber Eats. Additionally, Flavrs utilizes AI to personalize video content across various food categories, making it a comprehensive platform for discovering, shopping and ordering food-related content.
PopUp Bagels’ successful Series A
PopUp Bagels, a New York City-based bagel startup, has successfully raised $8 million in Series A funding, with Stripes leading the round. Notable investors, including Tastemaker Capital and Habitat Partners, also participated. The funds will primarily be used to expand the company’s executive team. PopUp Bagels, launched during the pandemic in 2020, allows customers to order fresh bagels online in advance and pick them up at specified times and locations, promoting unique flavor experiences with weekly changes and collaborations with brands including Utz Cheese Ball Cream Cheese and Bowery Farms Basil Pesto Butter.
Better Bite invests in better startups
Better Bite Ventures has invested in three APAC food tech startups—Fattastic in Singapore, Pivot Eat in Australia, and Everything But in South Korea—as part of its First Bite initiative. The initiative provides early-stage investments ranging from $50,000 to $150,000. These startups focus on innovative solutions to enhance the taste and texture of meat and dairy alternatives, addressing the need for more sustainable ways of producing food to achieve net zero greenhouse gas emissions. Better Bite Ventures, launched in 2022, has already invested in over 20 food tech startups and is now open for applications for the next round of First Bite investments
Signos raises $20M Series B
Signos, a metabolic health platform, has secured $20 million in a Series B funding round led by Cheyenne Ventures and Google Ventures, with additional support from Dexcom Ventures and Samsung. The platform utilizes AI and continuous glucose monitoring to offer real-time data and personalized recommendations for healthy weight management. Signos aims to address the obesity and metabolic health crisis, particularly in the United States. The funding will expand the team, enhance the platform and conduct further research on metabolic health despite challenges such as hiring and the cost of CGM technology.
Daiz’s $47M funding boost
Japanese plant-based meat company Daiz has secured $47.44 million in its latest funding round, bringing the total amount raised to over $87 million—the largest sum ever in Japan’s food-tech industry. Daiz plans to use the funds to build a 40,000-square-meter factory in Kumamoto City, scheduled to begin operations in February 2025. The facility aims to produce 20,000 tons of Daiz’s plant-based Miracle Meat annually and create around 40 jobs. The company intends to accelerate growth in domestic and overseas markets with the new funding.
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November14-15, 2023 | San Francisco, CA | Hybrid Event