Monday, May 7, 2018

Food & Bev Startups Raised $1.08B in VC Capital in 2017, Bacon-Based Cryptocurrency + More 

Latest food tech and innovation news, jobs and events.
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investment report
FEATURED

2017 US Food & Beverage Startup Investment Report (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=81830c830b&e=2715c96b29)
Introducing our first annual Food & Bev Startup Investment Report by Ryan Williams. There were $1.08b in venture capital investments across 99 deals in 2017. Check out our report for a deep dive into the deals and trends.

2017 US Food & Beverage Startup Investment Report, Monogram Capital Closes $152M Debut Fund + More (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5a2c8309a7&e=2715c96b29)
Our round-up of last week's top food innovation news.

Snag Tix to FoodBytes! Montreal - Pitch During Open Mic + More [Sponsored] (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=575590037d&e=2715c96b29)
Rabobank's FoodBytes! is heading to Montreal on May 16.
SPONSORED EVENT

foodbytes

Discover the new ideas cataylzing food innovation on May 16!
From data-driven apiary management to seafood by-catch reduction tech and single origin pantry staples, see 20 cutting-edge entrepreneurs (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7df690aea8&e=2715c96b29) take the stage at FoodBytes! Montreal. As a member of the FTC Community, save 15% on tickets by clicking the button below (discount will auto-populate).
Save 15% (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=c2d5ed824b&e=2715c96b29)
rabobank

Attend F&A Next 2018
Be part of food and agriculture's foremost innovation summit of the year. F&A Next 2018 intersects some of food- & agritech's most promising verticals: robotics, genomics, ICT, food and agriculture. Mark May 30 & 31 in your diary today! www.fanext.com (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=3bc25cd036&e=2715c96b29) .

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LATEST JOB LISTINGS

Product Development Manager at Splendid Spoon (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=6aedba0cf4&e=2715c96b29) - Brooklyn, NY

iOS Engineer at Sweetgreen (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=96ac27b496&e=2715c96b29) - Los Angeles, CA

Value Chain Coordinator at Sweetgreen (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=a8b36549fd&e=2715c96b29) - Bay Area, CA

Sales Specialist at BentoBox (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=dc281807ad&e=2715c96b29) - New York, NY

Food Buyer - Purchasing Team at Eat Club (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7690b654bf&e=2715c96b29) - San Leandro, CA

Program Manager at Food Shift (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=892acd4931&e=2715c96b29) - Bay Area, CA

Pastry Assistant at Philo Ridge Farm (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=0923338479&e=2715c96b29) - Charlotte, VT

Front-end Developer at Ora Organic (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=9d80947c04&e=2715c96b29) - San Diego, CA

Affiliate Marketing Coordinator at Real Plans (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=58f2a75b28&e=2715c96b29) - Freelance

Operations Manager at Ark Foods (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=75b8b4dbde&e=2715c96b29) - Brooklyn, NY

NY Sales Manager at Devocion (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=ce92c037c4&e=2715c96b29) - Brooklyn, NY
SEARCH MORE JOBS! (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=befdc6c757&e=2715c96b29)

tate's cookies

CPG

Beloved Tate's Cookies Has Been Scooped Up by Oreo's Parent Company (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7196977254&e=2715c96b29) - Fast Company
Mondelez purchased Tate's Cookies for $500m. Tate's sales have quadrupled over the past five years. It plans to expand its distribution as a standalone business.

Nestle Bets $7B on Starbucks to Revive Coffee Sales (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=bf0613a587&e=2715c96b29) - Bloomberg
Nestle will pay $7.15b for the right to market Starbucks-branded products, marrying its international distribution network with the allure of the biggest name in coffee.

Mandatory GMO Labels Are Coming to Your Food (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=a6946331e3&e=2715c96b29) - The Washington Post
Food products may be exempted from labeling if they are made with some refined GM sugars and oils, or if it contains those ingredients in certain amounts. The term "bioengineered" will be used to label foods instead of "genetically modified".

IFF Joins M&A Rush in Flavorings With $7.1B Frutarom Deal (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=00fa03ddfe&e=2715c96b29) - Bloomberg
International Flavors & Fragrances jumped into a rush of dealmaking in the food-flavoring industry, agreeing to buy Israel's Frutarom. The company is tapping the fast-growing market for natural food ingredients.

How GV's Andy Wheeler Invests in the Food Companies of the Future (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=18d901251b&e=2715c96b29) - Forbes
Wheeler has led investments in companies like Impossible Foods, Ripple Foods and Farmers Business Network. His background in farming, manufacturing and supply chain management gives him a unique advantage to understanding the food and ag space.

Oscar Mayer Launches a Bacon-Based Cryptocurrency, and Obviously It's Called Bacoin (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=9beceb8ebd&e=2715c96b29) - AdWeek
The value of a Bacoin is based on the number of times it's been shared in social media, encouraging those who sign up for a Bacoin to give it a short-term boost to talk about it endlessly.

Bernardo Hees of Kraft Heinz: 'New Mistakes Are Welcome' (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=c4b50215fa&e=2715c96b29) - New York Times
A powerful force in the food business defends a famously frugal culture — and admits C.E.O.s don't have all the answers.

Why Can You Buy Local Bread but Not Local Flour? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=b817708b8b&e=2715c96b29) - New Food Economy
Blame America's commodity grains infrastructure. A new generation of farmers, bakers, and millers are trying to build a market for what is currently unfeasible: flour with a backstory.

Elon Musk is 'Super, Super Serious' About Starting a Candy Company (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=1915ca67c7&e=2715c96b29) - CNN
The billionaire entrepreneur tweeted Saturday about starting his own confections enterprise.

This Entrepreneur Almost Quit Multiple Times, but After Appearing on 'Shark Tank' He Now Has a $100M Business (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=e3b61f6477&e=2715c96b29) - Entrepreneur
Joel Clark struggled to get his pancake business, Kodiak Cakes, off the ground. After years of strained efforts, the brand is now offered in 11.5k retailers.

blue apron
RETAIL

Meal Kit Maker Blue Apron Turns to Costco as Customer Growth Slows (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=e689016e6c&e=2715c96b29) - Wall Street Journal
Blue Apron is now selling its meal kits in select Costco stores at 30% off the normal price. The company has plans to expand distribution beyond San Francisco and the Pacific Northwest in the future.

Soft Robotics Raises $20M to Expand Operations (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=68c6c383f0&e=2715c96b29) - TechCrunch
Funding came from Scale Venture Partners, Calibrate Ventures, Honeywell Ventures and Tekfen Ventures, along with existing investors. The new round will help push Soft further into the F&B categories, along with larger presence in retail and logistics.

Tom Brady's Vegan Meal-Kit Maker Gets Del Monte Capital Infusion (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=3c2af7d457&e=2715c96b29) - Bloomberg
Purple Carrot has just received $4m from Del Monte, which gives it access to a national distribution network and supply chain.

Albertsons Plans to Double Its Private Label Releases This Year (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=df8a0afe7b&e=2715c96b29) - Food Dive
The grocer plans to introduce 1.4k new store brand products across all categories this year. Its impending merger with Rite Aid fueled the expansion.

India: Walmart Beats Amazon in $15B Flipkart Battle (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=f7b3ea481d&e=2715c96b29) - Bloomberg
The deal will give Walmart a leading position in the growing market of 1.3b people and a chance to rebuild its reputation online.

China: Coolhobo Brings Augmented Reality to Chinese Millennial Shoppers (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=b0daa2c916&e=2715c96b29) - The Spoon
The China-based startup offers a mobile app that provides shoppers with features like AR in-store navigation, a 3D shopping assistant and pre-suggested shoppings lists.

UK: Zeto Hopes for €20M to Build Food Safety Tech (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=fba32f9a20&e=2715c96b29) - The Times
The company expects to close by the end of next month to build a product that uses blockchain to provide better security for checks, allowing retailers to scan food products to see the full history of how they were transported.

All_ebt to Open Second Pop-Up Store, Has Amazon Go-Like Ambitions (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=f52ca41dc5&e=2715c96b29) - The Spoon
The Los Angeles startup that helps people on food stamps purchase groceries and other goods online is going bi-coastal with popups that provide a space where low-income families can get training on how to use its payment system.

Walmart Backs Potassium Salt Petition (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=75513caceb&e=2715c96b29) - Food Navigator
The petition asks the FDA to allow 'potassium salt' as an alternative name for potassium chloride on food labels. The name would demystify te ingredient and help the industry achieve goals of lowering sodium and increasing potassium intakes.

Can the Recovery Quench America's Food Deserts? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=cadb90aa15&e=2715c96b29) - US News
America's food desert issue is a complicated one, interweaving poverty, transportation and health concerns. Many grocers aren't particularly eager to expand operations in impoverished areas where it could be difficult to turn a profit.

Modern Grocery Shoppers Are Increasingly Omnichannel (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=6f5168e951&e=2715c96b29) - Food Dive
More parents, millennials and millennials with children were likely to buy groceries online and pick them up at the store. Retailers could benefit by providing coupons and discounts on frequently purchased items to those demographic groups.

starbucks

RESTAURANTS

Starbucks Brews a Tech-Infused Future, with Help from Microsoft (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=bc3f329e1e&e=2715c96b29) - Fast Company
When the biggest name in coffee sought to use tech to make its stores both more human and more efficient, it found a partner in another Seattle institution.

Shake Shack Is Ditching Its Cashless Store Format After Customer Complaints (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7859923019&e=2715c96b29) - Grubstreet
Despite promising few lines, less wait time and quicker speed service at the cashierless store, Shake Shack is abandoning the concept after a barrage of complaints from unhappy customers.

The James Beard Awards Might Be Getting More Diverse, but These Graphs Show There's a Long Way to Go (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=afa6d5054d&e=2715c96b29) - Mic
2018 will be the most inclusive year for women and the second-most inclusive for people of color in the history of the JBF Awards. Yet, women only represent 39.3% of the nominations and only five black chefs have been nominated for best chef overall.

UK: Deliveroo and Uber Eats List Restaurants with Low Health Scores (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=1e0485cc69&e=2715c96b29) - Bloomberg
At least 23 restaurants on the apps' combined platforms in London were found to have been awarded a zero food hygiene rating by the UK Food Standards Agency.

Are There Too Many Restaurants? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=dcd0cff9a0&e=2715c96b29) - Eater
People may eat out more, but customers can't sustain the explosion of growth we've seen across America. The labor just isn't there — unless owners are willing to pay more and rethink the restaurant business model.

CRISPR

AGRICULTURE

Scientists in China Race to Edit Crop Genes, Sowing Unease in US (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=4579c16804&e=2715c96b29) - Wall Street Journal
China is seeking a lead in editing plant genes, potentially shifting the epicenter of the emerging agricultural technology toward the East. Chinese seed and chemical giant Syngenta is building a Beijing hub for developing new gene-editing technologies.

This Former Steel Mill Will Soon Be a Tech-Filled Greenhouse (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=6fcf35ec08&e=2715c96b29) - Fast Company
The next Gotham Greens location will convert old industry in Baltimore into a hydroponic farm to provide local produce and jobs.

Why Farmers Only Get 7.8 Cents of Every Dollar Americans Spend on Food (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=77aabeed19&e=2715c96b29) - The Washington Post
A majority pays restaurants and other food service institutions. Growing consumer demand for convenient, ready-to-eat foods has caused a long-term erosion of farmers' shares.

We Wouldn't Need the Suicide Hotline If Dairy Farmers Were Getting Paid What They Deserve (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=71195a1cee&e=2715c96b29) - Mother Jones
Dairy farmers are getting $15 per hundred pounds of milk, but that "hundredweight" costs $22 to $25 to produce. Stress is coming to a head as a result of long-standing policies that have left small producers at their wit's end.

Clean Meat Can't Replace Traditional Meat Because There's No Such Thing As "Traditional" Food (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=c27293a9b4&e=2715c96b29) - Quartz
For the ranchers and individual farmers most worried about clean meat, a splintered industry means ideas they have about so-called "traditional" practices are even more exposed to change from high-tech innovation.

ICE Crackdowns Meets Reality: Half of NY's Farm Labor Is Here Illegally (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=566db4871f&e=2715c96b29) - Syracuse
Immigration raids on farms throughout New York are creating a labor crisis that could close hundreds of farms and keep food from making its way to grocery stores and kitchen tables.

Overuse of Farm Fertilizer Drives State's First Effort to Regulate It (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=df4c778b76&e=2715c96b29) - StarTribune
Farmers in Minnesota are using 15% more fertilizer than they need to maximize crop yields, one reason why statewide drinking water is increasingly contaminated with nitrogen. The state released its first ever proposal to regulate farmers' use of fertilizer.

The Water War That Will Decide the Fate of 1 in 8 Americans (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=58fb8cc6a2&e=2715c96b29) - Grist
The Colorado River sustains 40m people and millions of acres of farmland. Mandatory restrictions of water use is on the horizon as climate change and a rise in population threatens the country's biggest reservoir of water.

Farmers Increasingly Look to Supply Management to Steady US Agriculture (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=cf2f16ddf1&e=2715c96b29) - Fern's Ag Insider
Farmers are embracing a controversial set of farm policies that would manage the country's commodity production and stabilize crop prices.

Pesticide Bill Clears Final Hurdle (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=efa8453932&e=2715c96b29) - Hawaii Tribune Herald
A bill passed in the Hawaii state legislature would ban the pesticide chlorpyrifos by 2022. It would also restrict pesticides near schools and require annual reports of usage.

Jillian Hishaw Wants to Help Black Farmers Stay on Their Land (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=8745ef4e12&e=2715c96b29) - Civil Eats
Through her organization FARMS, this farmers' rights advocate is fighting for today's farmers as well as the next generation.

Indonesia's Public And Private Sectors Explore Uses For Blockchain (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=90eb440fbc&e=2715c96b29) - CCN
Government policymakers hope the technology can be used to improve accountability on things like estimates on harvest production and micro-loan programs.

calorie rule

EATERS

Obama's Calorie Rule Kicks in Thanks to Trump (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=bd9c034f70&e=2715c96b29) - Politico
One of Barack Obama's top food policy rules has escaped Trump's war on regulations. Starting Monday, calorie counts will have to be posted at thousands of restaurants, grocery stores and movie theaters.

Pablos Holman Sees a Future Where We Print French Bread & Strawberries (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=9fd7c4c3f0&e=2715c96b29) - The Spoon
Holman believes 3D printed meals could be optimized for each person's specific dietary requirements and taste profile. Ingredients could be stored in cartridges to print foods at the push of a button.

Are You Anti-GMO? Then You're Anti-Science, Too. (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5fdd017f4a&e=2715c96b29) - The Washington Post
There is no reputable scientific evidence that direct genetic modification has any health effects of any kind. So why has Europe essentially banned GMOs? Why do many American food companies treat them like toxins?

Could a Probiotic Strain Cure Peanut Allergy? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=ff229e7ca1&e=2715c96b29) - Food Dive
An oral treatment for peanut allergy based on a probiotic strain and modified peanut protein is set to enter an advanced phase of clinical trials.


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