Startup news and deals
๐ฌ๐ง๐ฒ HungryPanda, a British food delivery startup, raised $55M to expand its services for the Asian diaspora across new regions. Already operating in 10 countries, it serves 6.5M customers and says it is profitable. Ethnic delivery marketplaces, notably those with a focus on Asian foods, are maybe one of the most overlooked aspects of the FoodTech delivery ecosystem. They can quickly reach impressive volumes amid limited competition.
๐ซ๐ท๐ฅ La Vie, a French plant-based pork meat startup, raised โฌ25M to scale across Europe. Known for its plant-based bacon and lardons, La Vie is also introducing new products. In an otherwise depressed plant-based ecosystem, this shows that a strong plant-based brand (and good products) can still create a high level of loyalty among consumers.
๐บ๐ธ๐ฆ Agrospheres, an American crop protection startup, increased its Series B to $37M. It will use the funds to expand its biopesticides production capabilities and bring them to the market.
๐จ๐ฆ๐ฆ Entosystem, a Canadian insect protein producer, raised $43M to expand its production capacity and build a new commercial plant. It targets both the animal feed and organic fertiliser markets.
๐ฉ๐ชย ๐ท The Raging Pig Company, a German alternative protein startup, raised an undisclosed seed round to expand its vegan pork products and develop new mycelium-based meat analogues.
๐ฉ๐ช๐ Foodforecast, a German AI startup, raised โฌ3M to optimise food supply chains with predictive technology. It should help food retailers to reduce waste and automate ordering processes.
๐ฎ๐นย ๐ซ Foreverland, an Italian foodtech startup, raised โฌ3.4M to expand the production of its carob-based alternative to chocolate.
๐ช๐ธย ๐ย Heura, the Spanish plant-based brand, is expanding into new categories like cheese and pasta, leveraging proprietary technology to combat the “ultra-processed” label and deliver cleaner-label options.
Industry news & trends
๐บ๐ธย ๐ฐPepsiCo will acquired Siete Foods for $1.2 billion, marking its first major food acquisition in five years, to boost its presence in health-focused and Hispanic food markets.
๐บ๐ธย ๐ขย GoPuff, the US quick-commerce startup, launched new in-app ad solutions and brand shops, offering food and beverage companies enhanced visibility and promotional tools within its delivery platform.
