If you need a break from COVID-19 and vaccine-related news, you’re in the right place. In this week’s Food Tech News, we rounded up pieces on a new technology that helps preserve potatoes, Zomato’s latest funding round, a holiday Pepsi flavor, and carbon-neutral oat milk.
Funding for potato preserving technology
Hazel Technologies received an undisclosed amount in grant money this week from the USDA for its new potato preserving technology. The technology is called Hazel Root, which looks like a small package and is placed in a bin of potatoes after harvesting. The small package emits an undisclosed active ingredient that prevents potatoes from prematurely sprouting. Prior to this new development, Hazel Technologies focused on preserving fresh fruits for longer and has received a total of $900,000 in grant money. Last year, the company also raised $13 million in funding in an oversubscribed series B round.
Zomato closes $660M series J funding round
Indian delivery service Zomato closed its series J funding round this week, totaling $660 million USD. The recent round saw participation from Kora, Tiger Global, Luxor, Fidelity, D1 Capital, Baillie Gifford, Mirae, and Steadview. Zomato is currently valued at $3.9 billion USD, and Deepinder Goyal, the CEO of Zomato, shared that the company may launch its IPO sometime in the first half of next year.
Cocoa Cola for Christmas
On Twitter this week, PepsiCo announced that a new flavor is in the works: “Cocoa Cola.” Pepsi said if its tweet reached 2,021 reposts, the company would begin production of the new flavor. As of now, that tweet has been reposted 4,400 times so far, so it’s safe to say the new drink will go into production. It will have tasting notes of chocolate, marshmallow, and the classic cola flavor, and is expected to reach stores sometime this winter. Near Thanksgiving this year, PepsiCo also released a holiday flavor: a limited batch of apple pie-flavored soda.
Carbon neutral oat milk
Minor Figures, a London-based company that produces oat milk, announced this week it has become carbon neutral. The company partnered with EcoFye, a firm that helps companies lower their carbon footprint and purchase carbon credit for carbon offsetting projects. Becoming carbon-neutral has been quite the buzzword this year, with major companies like Starbucks, Amazon, and Microsoft also making the pledge.