Startup news and deals
🇩🇪 🧀 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.
🇪🇸🌱 Novameat, a Spanish startup, raised €17.4M 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 “3rd generation plant-based products” which bring better texture, better taste and a cleaner list of ingredients. With this fundings and others in the past year, we’ll see if that translates into a greater consumer willingness to buy alternatives.
🇦🇺🌾 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 “real” impact of such products on methane emissions, and even less evidence of how to finance them (who will pay as consumers don’t seem willing to do so?)
🇦🇺🌊 Algenie, an Australian startup, raised $730k for its carbon-positive plastics and biofuels made with algae.
🇬🇧🐝 Solasta Bio, a British startup, raised $14M for its bioinsecticides that selectively target pests while protecting beneficial pollinators.
🇺🇸🌱 Switch Bioworks, a US-based startup, raised $17M for its bio-based fertilizers that enhance soil health.
🇺🇸💪 Create Wellness, an American startup, raised $5M for its creatine-based products aimed at wellness and sports nutrition.
Industry news & trends
🇫🇮 💍 Oura, the Finnish startup known for its connected ring, is acquiring Veri , another Finland-based based startup developing a CGM (continuous glucose monitoring) platform.
🇺🇸 🤖 Interesting read (and pictures) from the behind the scenes of Hyphen, the US-based startup developing an automated makeline for food restaurants.
🇪🇺 🏷️ 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.
