Category: Business of Food
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Five early-stage indoor agriculture companies will participate in the ninth cohort of the Wells Fargo Innovation Incubator (IN2), which works with cleantech companies and entrepreneurs across food and housing sectors. Chosen participants for this cohort will focus on tools and processes that can make indoor farming more environmentally and financially sustainable. The Wells Fargo Foundation…
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Instawork, an online marketplace that connects local businesses across the U.S. with available workers, announced today that it has raised a $60 million Series C round of funding. The round was led by Craft Ventures with participation from Grelock, Corner Ventures, Four River Group, WndrCo and Tilman Fertitta (owner of Landry’s and the Houston Rockets).…
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Beyond Meat announced today that it is launching its new Beyond Chicken Tenders at select restaurants across the country. The plant-based chicken tenders are made from faba beans and peas and have 14g of protein per serving. That Beyond Meat is expanding the availability of its chicken products is no surprise, since poultry is the…
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Cultivated meat company Aleph Farms announced today it has completed a $105 million Series B round of funding, bringing the company’s total funding to date to $118 million. The Series B round was led by L Catterton and DisruptAD with participation from Skyviews Life Science, Thai Union, BRF, and CJ CheilJedang. Existing investors VisVires New…
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Traeger Grills, best known for its wood-pellet grills, announced today that it has acquired wireless meat thermometer company MEATER. Terms of the deal were not disclosed, and according to the press announcement, MEATER will continue to operate as a standalone company within Traeger Grills and Joseph Cruz will continue as MEATER’s Chief Executive Officer. MEATER,…
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Virtual restaurant company C3 (Creating Culinary Communities) has raised an $80 million Series B funding round co-led by Brookfield Asset Management and REEF Technology. Egon Durban and Greg Mondre Managing Partners and Co-CEOs of Silver Lake Partners, along with Dean Adler, Co-Founder of real estate investment firm Lubert-Adler. C3’s business these days is as much…
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Israel-based alt-protein company MeaTech 3D has begun research and development activities around cultivated pork, the company announced today. Initial activities will focus largely on developing porcine cell lines, which the company says could expand its number of potential addressable markets since pork is the most widely consumed meat in the world. The porcine cell lines…
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Agriculture may have been slower to digitize than other parts of the food sector, but these days a lot of folks would agree artificial intelligence, automation, and other technologies have a role to play in the future of farming. The presence of such things means farming will soon require lots of new skills, which in…
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One place that gets a lot of attention these days when it comes to food tech initiatives is the United Arab Emirates. Like Singapore, the country is aggressively pursuing food and ag tech initiatives as a way to improve food security and quality within its own borders and in doing so become a more self-sufficient…
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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 we’re fond of saying lately, last year’s pandemic-induced chaos accelerated the restaurant industry’s adoption of technology so much that about a decade’s worth of changes happened in the span of a couple…
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One of the big questions companies face as more of the population gets vaccinated is if and how they will re-open their physical offices. As Bloomberg wrote last month, some workers are just quitting their jobs instead of returning to offices. As such, companies are looking for ways to entice employees back into the building…
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McDonald’s will cut technology fees for its U.S. franchisees by 62 percent following a third-party review of of billing, according to a report from Bloomberg. The original $68 million was announced in December of 2020, when corporate said it would charge franchisees a $423-per-month fee to cover a lag in outstanding technology fees. Outrage ensued…
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