Category: Business of Food
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Tokyo-based Next Meats Co. announced today their plan to start construction of their alternative protein “NEXT Factory” in Niigata, Japan. The new, large-scale facility will be dedicated to the development of alternative proteins, feature both and R&D lab as well as a production line, and is scheduled to be completed next summer. Next Meats makes…
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NovoNutrients, a company that creates protein from CO2 inputs, today announced a $4.7 million fundraise to complete its industrial pilot program that will capture CO2 emissions from from oil, gas, and cement-related plants. The round was led by Happiness Capital, a Hong Kong-based venture firm that has previously invested in Redefine Meat, Ynsect, and Beyond…
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DoorDash has launched a new location of its ghost kitchen operation, the company announced today via a press release sent to The Spoon. DoorDash Kitchens San Jose will house six different restaurant concepts from both nationally known restaurants and those from the San Francisco Bay Area. This is the second DoorDash Kitchens location. DoorDash launched…
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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. Of the three pillars of alternative protein, plant-based is getting the most mainstream attention and cultivated meat is the currernt darling of VC investors. But fermentation may be the most practical in terms…
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AppHarvest this week announced a $91 million financing arrangement with Equillibrium Capital, according to Food Navigator, who broke the news. The money will go towards AppHarvest’s previously stated goal of building out 12 high-tech indoor farming facilities by 2025. Equilibrium Capital’s $91 million figure is a construction loan that will support the building of AppHarvest’s…
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Delivery Hero today launched its Sustainable Packaging Program that gives restaurants on its platform more eco-friendly options for their to-go orders. The concept is currently piloting in Austria, Chile, Germany, Hong Kong, Hungary, Qatar, and Singapore. Delivery Hero said in today’s announcement that it will expand the program to other markets in the near future.…
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Canadian restaurant supply chain tech company Notch has closed a $10 million round of financing led by Accomplice and BDC, bringing its total funding to date to nearly $20 million. MATH Venture Partners, Golden Ventures, The Yield Lab, Garage Capital, and Plexo Capital also participated, as did several angel investors. The Toronto-based company wants to…
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InFarm is partnering with Sobeys, one of the largest food retailers in Canada, to sell its vertically grown greens in grocery stores across the country. The Berlin, Germany-based indoor agriculture company plans to be in an additional four of 10 Canadian provinces by 2023. The deal will place InFarm in over 1,000 retail locations across…
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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. As online ordering becomes more the norm, the next step in on the path to digitization is all about data. More specifically, it is about making sense of the mountains of customer data…
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For Domino’s, combatting the restaurant industry’s current labor shortage means adopting more tech to make operating procedures more efficient. Speaking on this week’s earnings call, CEO Ritch Allison said his company is “absolutely working on technologies and operating procedures to help us run our stores more efficiently, and with less labor.” One major development relates…
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Plant-based cheesemaker Nobell Foods announced a $75 million Series B fundraise and launched out of stealth mode this week. The round was led by investment group Breakthrough Energy Ventures and included participation from new investors Hillhouse Capital Group and Footprint Coalition. Existing investors AgFunder, Andreesen Horowitz, Mission Bay Capital, Fifty Years, New Crop Capital, Germin8…
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Restaurant ordering and payment processing platform Bbot announced today that it has raised a $15 million Series A round of funding. The round was led by CRV and follows a $4 million extension to its Seed round the company raised in January of this year. Bbot’s total amount of funding is now $22.3 million. Broadly…
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