Category: Business of Food
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Precision medicine startup DayTwo announced over the weekend a $37 million fundraise for its app that provides users customized diet recommendations based on their gut bacteria. New investors participating include Poalim Capital Markets, La’maison Fund and Micron Ventures. They were joined by existing investors including the aMoon VC fund, 10D, and Cathay Innovation Ventures. To…
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Yum! Brands spinoff Yum China is investing in more digital education for underserved areas. The company today launched its Digital Classroom Initiative that gives children in rural parts of China access to online classes that will teach coding and other digital skills. The digital divide between China’s urban and rural populations has narrowed somewhat in…
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This is the web version of our newsletter. Sign up today to get updates on the rapidly changing nature of the food tech industry. Greetings from Eastern Kentucky, where I’m taking a quick breather from the restaurant world and am off to tour AppHarvest’s high-tech greenhouse. But first, a few quick thoughts on the recent Yum!…
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Yum! Brands has begun the process of acquiring Dragontail Systems, the two companies announced today. Under the agreement, the Louisville, Kentucky-based Yum! will pay $93.5 million in cash for all the share capital of Dragontail, which is publicly traded on the Australian Securities Exchange. Dragontail Systems had raised $8.8 million in funding. If successfully completed,…
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Australian cultivated meat company Magic Valley this week proclaimed itself “the world’s first cultured lamb company” and provided some details on what it’s been up to since its recent launch. The company is currently in prototype stage and in the process of raising seed funding. As a meat choice, lamb stands out in a world…
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Workforce management platform 7Shifts announced this week it has raised a $21.5 million Series B round. Enlightened Hospitality Investments, the growth equity fund affiliated with Danny Meyer’s Union Square Hospitality Group, led the round. Existing investors Ten Coves Capital, Relay Ventures, and Conexus Ventures also participated in the round. Saskatoon, Canada-based 7Shifts said it will…
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Finland’s iFarm announced a multi-year partnership today with Sadarah Partners to build out a commercial-scale indoor vertical farm in the State of Qatar, according to a press release sent to The Spoon. The goal of the partnership is to bring more local food production inside Qatar’s own borders and at the same time produce greens,…
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Depending on where you live, getting a dishwasher isn’t a given, hence the growing market for tiny dishwashers (like Tetra) that can live on a countertop and are also well-suited to smaller households. The latest comes from Scottish consumer electronics startup Loch Electronics, which today launched a campaign for its Capsule dishwasher on Kickstarter. The project…
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NYC-based vertical farming company Bowery announced today it has raised $300 million in Series C funding from a boatload of investors. Fidelity Management and Research Company led the round, which also saw participation from GV, General Catalyst, GGV Capital, Temasek, Groupe, Artémis, and Amplo and Gaingels. Additional investors included Lewis Hamilton, Chris Paul, Natalie Portman,…
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Payments company Square recently made its restaurant software stack a little more versatile when it launched its Square KDS back-of-house display system as a standalone item available via subscription. The company says doing so will make Square KDS available to restaurant and kitchen operations that don’t necessarily have a POS system, or even a front…
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By “in the future,” he didn’t mean next year. Anyone who keeps an eye on the cultivated meat industry knows there are many, many hurdles to leap before we’re eating cultivated Big Macs. For companies actually making the products and/or accompanying technologies, there’s still much to do around improving growth media, bioprocess design, and many…
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This is the web version of our newsletter. Sign up today to get updates on the rapidly changing nature of the food tech industry. Setting aside scalability, price parity, and regulatory approvals for a moment, one of the major challenges for cultivated meat makers will be getting people to actually buy their products en masse and on…
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