Startup news and deals
๐ฉ๐ชย ๐ง Formo, a German startup, raised $61M, first to launch a range of plant-based cheeses and keep working on longer term goals around precision fermentation.
๐ช๐ธ๐ฑ Novameat, a Spanish startup, raised โฌ17.4M for launching its plant-based alternatives manufactured with 3D printing. This startup, with others, is showing the still strong appetite of investors for what we call โ3rd generation plant-based productsโ which bring better texture, better taste and a cleaner list of ingredients. With this fundings and others in the past year, weโll see if that translates into a greater consumer willingness to buy alternatives.
๐ฆ๐บ๐พ Number 8 Bio, an Australian startup, raised $7M for its feed additive for cows to reduce their methane emissions. Funding in this category are increasingly large, showing the great interest of large agrifood players to find solutions to mitigate their impact related to dairy. However, there is little hard data available on the โrealโ impact of such products on methane emissions, and even less evidence of how to finance them (who will pay as consumers donโt seem willing to do so?)
๐ฆ๐บ๐ Algenie, an Australian startup, raised $730k for its carbon-positive plastics and biofuels made with algae.
๐ฌ๐ง๐ Solasta Bio, a British startup, raised $14M for its bioinsecticides that selectively target pests while protecting beneficial pollinators.
๐บ๐ธ๐ฑ Switch Bioworks, a US-based startup, raised $17M for its bio-based fertilizers that enhance soil health.
๐บ๐ธ๐ช Create Wellness, an American startup, raised $5M for its creatine-based products aimed at wellness and sports nutrition.
Industry news & trends
๐ซ๐ฎย ๐ Oura, the Finnish startup known for its connected ring, is acquiring Veri , another Finland-based based startup developing a CGM (continuous glucose monitoring) platform.
๐บ๐ธย ๐คย Interesting read (and pictures) from the behind the scenes of Hyphen, the US-based startup developing an automated makeline for food restaurants.
๐ช๐บย ๐ท๏ธย Danone will stop using Nutriscore labels on its dairy and plant-based drinks in Europe. The label recentrly revised the way it categorised these products which led in many instanced to them being downgraded whereas Danone positions itself as a leader in healthy foods.
