This week in meals tech: New fund reveals meals investments are nonetheless simmering | TechCrunch
In the event you’re adventurous together with your meals, or similar to to maintain up with the fast-moving meals tech trade, right here’s a roundup of this week’s tales and a few notable information we weren’t capable of cowl.
Provide Change Capital
The enterprise capital fund insanity we’ve seen all 12 months has made its technique to the meals sector. This week, I wrote about Supply Change Capital, which closed on $40 million in capital commitments for its first fund, concentrating on investments within the world meals trade.
The feminine and Latina-owned agency is spearheaded by co-founders and managing companions Noramay Cadena and Shayna Harris, who met 14 years in the past in enterprise faculty.
The agency has already made 15 investments, together with in allergen-free snack meals firm Partake Foods, substances startup Michroma and different seafood maker Aqua Cultured Foods.
Provide Change joins companies like Joyful Ventures, which debuted in June with $23 million, targeted on funding in sustainable protein startups. Joyful was co-founded by Jennifer Stojkovic, Milo Runkle and Blaine Vess and has made two investments from the fund, together with New School Foods and Orbillion Bio.
Global investment in food tech and agtech startups had been 44% decrease than in 2021, totaling $29.6 billion final 12 months. Granted, 2021 had record-breaking investments into this house, however with all this dry powder on the sidelines, it appears promising for the following 12 months.
As seen in TechCrunch
Brevel sprouts $18.5M to develop microalgae-based alternative proteins
Microalgae is all over the place, it appears. This week, Brevel introduced a big seed spherical that may go towards growing microalgae into an alternate protein powder that can be utilized in meals.
What else I’m studying
Cultivated beef, it’s what’s for dinner in Europe: Israel’s Aleph Farms gears up to sell first cultivated beef cuts in Europe.
New to the aisles of Entire Meals Markets: Actual Veggies expands on the grocery chain amid over 300% progress up to now 12 months. Meati Foods makes its nationwide launch in 46 states (here’s more about them). And Konscious Foods debuts its frozen, plant-based sushi there.
Egg-citing progress: Yo! Egg makes its nationwide launch by way of a partnership with Veggie Grill. Learn our coverage of the company, particularly because it pertains to the latest hike in traditional egg prices.
Clean to the contact: MycoWorks unveils plastic-free leather alternative for luxury fashion brands. Learn extra about our coverage of this company making “leather-based” from mushrooms.
Gordon Ramsay likes ramen: Gordon Ramsay partners with vegan ramen brand. See who else has plant-based ramen.
Brewing up some M&A: RTD cold brew maker High Brew acquired by Beliv. Prepared-to-drink is massive; read more.
You probably have a juicy tip or lead about happenings within the enterprise and meals tech worlds, you may attain Christine Corridor at chall.techcrunch@gmail.com or Sign at 832-862-1051. Anonymity requests can be revered.