Category: Business of Food
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Astronauts onboard the International Space Station are aiming to grow the first-ever peppers in space via the Plant Habitat-04 (PH-04) experiment. PH-04 will grow “Espanola Improved” New Mexico Hatch Green Chiles. These are a medium-heat chile peppers NASA says have been suitable for use in controlled growing environments. The pepper seeds were planted in April…
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Next Gen Foods, which makes a plant-based chicken brand TiNDLE, announced yesterday that it has raised a $20 million extension of its seed round. This extension includes new investors such as Global Fund GGV Capital, Bits x Bites, Yeo Hiap Seng, as well as existing investors Temasek and K3 Ventures. This latest round follows Next…
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Nonprofit XPRIZE has announced 28 semifinalists teams that will move forward in the Feed the Next Billion competition. The multi-year competition will support companies developing compelling chicken and fish alternatives that replicate or outperform the real thing in terms of nutrition, environmental sustainability, animal welfare, and taste and texture. The competition, first announced at the…
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Comet Bio, which manufactures various ingredients through upcycling, announced today that it has completed its Series C with an initial close of $22 million. The round was led by Open Prairie, the Louis Dreyfus Company (LDC), BDC Capital, as well as existing investor Sofinnova Partners. With headquarters in London, Ontario and Schaumberg, Illinois Comet Bio…
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Finland’s Netled has signed a three-year investment agreement with herb grower Oh My Greens, the two companies announced today. The agreement is worth €15 million (~$17 million USD) over three years and will provide Sweden-based Oh My Greens with Netled’s turnkey vertical farm called Vera. Netled’s Vera system comes as a few different forms, the…
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CPG giant Nestlé intends to enter the cultured meat market via a partnership with Israel-based alt-protein company Future Meat, according to a report from Bloomberg. Unnamed sources familiar with the matter said Nestlé is working on various products that mix its own plant-based proteins with cultivated meat from Future Meat. More granular details on the…
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Restaurant tech company 86 Repairs has raised an additional $5.3 million, bringing its total funding for its seed round to $7.3 million, according to a press release sent to The Spoon. Investors in this latest raise include TDF Ventures, Gordon Food Service, MATH Venture Partners, Revolution, and Cleveland Avenue. To date, 86 Repairs has raised…
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Equilibrium Capital has closed its second fund dedicated to indoor agriculture. The Controlled Environment Foods Fund II (CEFF II) raised a total of $1.02 billion, exceeding its original goal of $500 million. Speaking in a company blog post, Equilibrium CEO David Chen said that the fundraising for CEFF II reflects a broader shift where larger…
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One year ago, Euromonitor International predicted the ghost kitchen market could be worth $1 trillion by 2030. The prediction, made by Euromonitor’s Global Lead for Food & Beverage Michael Schaefer, reverberated around a restaurant industry that was still deep in the midst of dining room shutdowns and restrictions related to a global pandemic. Little wonder…
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Nothing hits the spot quite like cold ice cream on a hot summer day. And if you want to throw in a little food tech futurism with your frozen treats, you can get free taste of Brave Robot as its ice cream truck continues its live taste tour on both coasts this weekend. Brave Robot’s…
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Canada’s P&P Optica (PPO) has raised an undisclosed amount of Series B funding for its food safety inspection technology, which uses hyperspectral imaging to gather quality metrics on the food inside of processing plants. The round was led by Ag Capital Canada, with new investor Synovus Family Office as well as existing investors Fulcrum Global…
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Grocery delivery company Instacart announced today that it is appointing Fidji Simo as its new CEO effective August 2. Simo has been on Instacart’s board since January of this year. She has spent the past decade at Facebook where she was most recently Vice President and Head of the Facebook app. Instacart Founder and soon-to-be-former…
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