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beyond meat
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Beyond Meat Has Top IPO of 2019, 1M Species at Risk of Extinction + More (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=9005ebbd68&e=2715c96b29)
Our round-up of last week's top food innovation news.
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disrupt food summit
Disrupt Food Summit NYC
This is a pivotal time in the food industry, technology has transformed the way we approach & think about food. What are the newest technologies poised to shape the future of food?
Join an exceptional line-up of speakers as the future of food is discussed, enjoy lunch and a great opportunity to network with teams from Kroger, Landec Corporation and other companies. Discount code FT20,
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impossible foods
CPG
Impossible Foods Raises $300M with Investors Eager for Bite of Meatless Burgers (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5fec5cf160&e=2715c96b29) - Reuters
Investors included Khosla Ventures, Google Ventures, Horizons Ventures and more alongside celebrities and star athletes including Jay-Z, Jaden Smith, Katy Perry, Serena Williams and Kirk Cousins.
Padma Lakshmi and Stacy's Pita Chips Launch Funding and Mentorship Project for Female Food Founders (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=f33d7c5b0d&e=2715c96b29) - Forbes
Top Chef judge and food entrepreneur Padma Lakshmi is joining "Stacy's Rise Project," an initiative from Stacy's Pita Chips and Alice to provide funding and mentorship to underrepresented female food entrepreneurs.
Beyond Meat Stocks Dips Below First-Day Closing Price, but Analysts Are Still Bullish (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7f1ae612f4&e=2715c96b29) - MarketWatch
Stock has fallen for three straight days but is still 148% above its IPO price.
Chobani Yogurt Announces It Will Pay Off All of Rhode Island Warwick School District's Lunch Debt (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=cb73bf3009&e=2715c96b29) - Dailykos
The school had over $77k in school lunch debt. After news of apolicy that would only serve students sunflower seed butter and jelly sandwiches for lunch, Chobani announced it would cover expenses for these students.
What the Boston Beer-Dogfish Head Merger Means for the Future of Craft Beer (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=00d2bf9d52&e=2715c96b29) - Fortune
On Thursday, Dogfish Head announced it would merge with Sam Adams for $300m, combining two of the nation's top 15 craft brewers. The deal comes at a time when craft brewers have faced tough growing pains.
Hain Celestial to Sell Its Poultry Business for $80M (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5d6ae59190&e=2715c96b29) - Food Dive
Hain Celestial is selling Hain Pure Protein Corporation to private equity firm Aterian Investment Partners III LP for $80m.
Where Cannabis Investors See the Next Big Wave? In Precision Dosing (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=8cc4519953&e=2715c96b29) - TechCrunch
Women and seniors are joining the cannabis movement, and that's presenting new investing opportunities particularly in products that make it easier to consume small and controlled amounts of THC.
Kraft Heinz Launches Sale of Baby Food Unit (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=b9dfb43527&e=2715c96b29) - Reuters
Kraft Heinz has launched the sale of its baby food brand Plasmon. It is estimated to be worth about $783m. Plasmon is mainly based in Italy and Kraft intends to sell it to focus on its global brands.
Oatly Brought the Oat Milk Craze to America. Now They're Hustling Not to Lose Their Grip (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=92f8156e15&e=2715c96b29) - The Spoon
Oat milk sales grew by 50% from 2017 to 2018, while almond milk sales grew only 11%. It is now set to usurp almond milk as the top alternative milk in coffee shops around the US.
75% of CPG Companies Plan to Spend More on Packaging (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=38bfceed8f&e=2715c96b29) - Food Dive
Nearly all manufacturers believe it is crucial to their success, with 57% developing more packaging that is easier to open and 51% working on more single-serve sizes.
petco justfoodfordogs
RETAIL
A Wellness Kitchen for Dogs: Petco's Answer to Amazon and Chewy (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=e7ffd0945f&e=2715c96b29) - Fortune
Petco has partnered with home-cooked pet food maker JustFoodForDogs to launch kitchens and pantries selling fresh, human-grade pet food at its stores nationwide over the next four years.
Startups Disrupted Breast Pumps. Is Infant Formula Next? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=a0bca1a462&e=2715c96b29) - Fortune
Bobbie, a new infant formula startup, raised $2.4m led by Bolt Capital. The formula will be sold through a subscription service at $23 a box.
Raised Real Passes Half a Million Meals Mark, Adds Twilight Star Nikki Reed to Advisory Board (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=21ba4d5eb0&e=2715c96b29) - Food Navigator
The company makes pre-portioned, flash-frozen ready to steam meals in finger food form. It has raised over $7m to date, and counts Schwan's as its lead investor.
ShopRite to Open 'State of the Art' Store in CT (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5320b11679&e=2715c96b29) - Grocery Dive
The 67,000-square-foot store will include a community room and culinary center for cooking classes, a registered on-site dietitian and ShopRite's grocery pick-up and delivery e-commerce services.
Ready-to-Eat Meals Startup Thistle Plans to Open 250-Worker Plant in Solano County (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5cacda74c5&e=2715c96b29) - North Bay Business Journal
Over the next six months, Thistle plans to set up operations with over 250 employees initially to produce, package and distribute meals to customers.
Shelves of Shame: Are These the Worst Recycling Offenders in Supermarkets? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=6b1e45a204&e=2715c96b29) - The Guardian
A quick tour of the big stores shows they could do much more to cut out plastic.
chownow
RESTAURANTS
ChowNow Scores $21M for Its Commission-Free Restaurant Order Platform (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=ed1afd3d61&e=2715c96b29) - The Spoon
The round included 3L Capital and Catalyst Investors, and brings ChowNow's total funding to $60m.
Singapore's Grain, a Profitable Food Delivery Startup, Pulls in $10M for Expansion (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=d048d37ffb&e=2715c96b29) - TechCrunch
Thailand's Singha Ventures led the round, with participation from Genesis Alternative Ventures, Sass Corp, K2 Global, FoodXervices and Majuven.
CEO of Failed Startup Munchery Gets Massive Payout for Selling Company HQ (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=1abd1afecd&e=2715c96b29) - Eater
The prepared meal delivery startup that filed for bankruptcy in March has sold its 70,000-square-foot South San Francisco headquarters to Gate Gourmet. CEO James Beriker plans to pay himself a $250k "success fee."
Postmates Teams Up with Square, Bringg (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=45779dc436&e=2715c96b29) - Restaurant Dive
Postmates has teamed up with Square to provide delivery capabilities to Square's small, local business partners, many of which are restaurants.
Don't Be Surprised by Uber's Low-Priced IPO—It's a Sign of Challenges to Come (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=3e4a36a8d5&e=2715c96b29) - Fortune
In the long run, the average IPO underperforms otherwise similar stocks by 7% to 8% per year. On average, entire industries see their values and profitability decline following the typical IPO.
Uber Exploring Nuro Partnership for Self-Driving Restaurant Food Delivery (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=a780af3778&e=2715c96b29) - The Spoon
Uber has been in talks with Nuro about a food delivery partnership. This would allow for Uber to lower driver costs and improve its margins.
Chick-fil-A Is Exploring Vegan Menu Items As Chains Like Burger King and Chipotle Double Down on Meat Substitutes (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=b0bec67325&e=2715c96b29) - Business Insider
Chick-fil-A is conducting research and development into vegan and vegetarian menu items.
blue revolution
AGRICULTURE
Fish Farming Could Be the Center of a Future Food System (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=8acf12f38d&e=2715c96b29) - Fast Company
A report entitled Towards a Blue Revolution recommends three things to create a successful and sustainable fish-farming industry in the US: land-based fish tanks, farming big fish like salmon in the sea, and rapidly expanding farming operations for shellfish and seaweed.
The Problem With Lab-Grown Meat (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=2b95cec343&e=2715c96b29) - Slate
Lab-grown meat could end up replicating some of the existing problems with our industrial food system.
In Missouri, Lawmakers Are Poised to Eliminate Local Regulation of CAFOs (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=8048783e1f&e=2715c96b29) - New Food Economy
Two new bills would remove local leverage over large-scale farms, often headquartered out-of-state.
India: Nabard Announces ₹700 Crore VC Fund for Agri, Rural Startups (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5419ed91d9&e=2715c96b29) - Livemint
The National Bank for Agriculture and Rural Development will be investing across startups engaged in agriculture, food and rural development space.
Washington Passed a Cage-Free Egg Bill in the Name of Animal Welfare. Why Are the Egg Industry's Fingerprints All Over It? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=5abcb966e9&e=2715c96b29) - New Food Economy
Major egg producers and the Humane Society both had a hand in crafting the law.
Why Some Wineries Are Becoming 'Certified B Corp' — And What That Means (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=4ca4e09423&e=2715c96b29) - NPR
To be certified, a business must operate according to three principles of sustainability: people, planet and profit. B Corp wineries are investing in farmworkers, but some stay it's still not enough.
Will Gene-Edited Food Be Government Regulated? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7c5bacf050&e=2715c96b29) - NPR
Crops that have had their DNA tweaked with new gene-editing tools are entering the food supply. But governments are struggling to figure out how — or even whether — to regulate them.
Pilgrim's Pride Lands in Front of SEC Over Its Chicken Claims (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=ac6262e1fe&e=2715c96b29) - Bloomberg
The Humane Society has tried to stop Pilgrim's Pride from calling its chicken "100% natural" and "humanely" raised, claiming it's neither. Now it's looking to securities regulators.
rocean
EATERS
Rocean Raises $6M for its Countertop Carbonated Water Dispenser (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=7442f48ceb&e=2715c96b29) - The Spoon
The round was led by Blue, with participation from high-profile investors like John Legend.
FDA to Test Frozen Berries for Viruses That Can Live in the Cold (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=10720a5775&e=2715c96b29) - New Food Economy
Because many people eat them raw, frozen berries are particularly prone to carrying pathogens that heat would otherwise kill.
Has Our Food Become Safer in the Last 10 Years? (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=578162460e&e=2715c96b29) - Civil Eats
From meat and eggs to leafy greens, four experts weigh in on the safety of the US food supply over the past decade and lay out strategies to improve it.
Study Shatters Preconceived Notions About Urban Vs Rural Obesity (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=0eff0380d9&e=2715c96b29) - NPR
Researchers found that more than 55% of the global rise in obesity comes from rural areas. With the exception of women in sub-Saharan Africa, BMI is rising in rural areas as fast as or faster than in cities.
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Sr. Sensory Science and Insights Manager at Land O' Lakes (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=2b3de452c7&e=2715c96b29) - Arden Mills, MN
Kitchen Staff @ Fast Growing Beverage Startup at Sweet a Little (https://foodtechconnect.us1.list-manage.com/track/click?u=5137626c88ab3a61c40112a42&id=a4cc47efdd&e=2715c96b29) - San Francisco, CA
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