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News

Finistere Ventures Launches New Agrifood Fund in New Zealand

Food tech-focused firm Finistere Ventures announced today the launch of its Finistere Aotearoa Fund done in partnership with New Zealand Growth Capital Partners. The $40 million NZD (~$28.1 million USD) fund will support early-stage companies developing technologies for agriculture, alternative protein, supply chain, and other areas of food tech.

Source: Finistere Ventures Launches New Agrifood Fund in New Zealand

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Events News

New Food Invest – online – 18 March 2021

The New Food Invest is a 3-in-1 conference format, catering for three different time zones on a single day: it provides convenient access for the Asian/Australian market followed by the European/Middle Eastern region and closes with a focus on the North & South American continent. Each NFI ticket grants access to all sessions and leverages the value of the event, providing you with 12 hours of attractive programming.

Source: New Food Invest

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News

Spanish government invests €5.2 million in cultured meat project

The project was selected by the Spanish Centre for the Development of Industrial Technology (CDTI), which supports R&D projects of Spanish companies. San Sebastián-based BioTech Foods is a Spanish biotechnology company dedicated to the development of cultured meat from the cultivation of muscle cells previously extracted from animals.According to the company, cultivated meat is positioned as one of the greatest innovations of our century, integrating food safety, animal welfare and sustainability in a unique product aimed at all types of consumers.

Source: Spanish government invests €5.2 million in cultured meat project

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Compagnies and key players

Startup Secures China’s Largest Cultivated Meat Investment Yet

Joes Future Food, a leading Chinese cultivated meat startup previously known as Nanjing Zhouzi, has secured a CNY 20 million (around USD 3 million) investment from Matrix Partners China in their angel round. In November 2019, Prof. Zhou Guanghong and his team created China’s first cultivated pork at a research center on the campus of Nanjing Agricultural University (NAU).

Source: PROGRESS: Startup Secures China’s Largest Cultivated Meat Investment Yet | The Good Food Institute Asia-Pacific- Imagine a Better Way to Meat.

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Compagnies and key players

Agronomics raises £10m to fund lab-grown meat companies

Lab-grown meat investor Agronomics has raised £10m from a share placing to continue to fund companies in the alternative protein market. The Isle of Man-headquartered company has established a portfolio of 14 companies – including Livekindly, Mosa Meat, Meatable and VitroLabs – at various stages of growth in the rapidly advancing sector. The oversubscribed funding round will provide additional capital for Agronomics to make additional investments following previous raises of £5.5m in January and £7.7m in December 2019.

Source: Agronomics raises £10m to fund lab-grown meat companies | News | The Grocer

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Other alternatives to meat

A €50 Million Vegan Cheese Research Facility Is Opening in the Silicon Valley of Food

A €50 million facility dedicated to developing new vegan cheese, butter, and other dairy-free products is opening in Wageningen, the Netherlands. The city has been dubbed the “Silicon Valley” of food.The Upfield Group, parent company to Greek vegan cheese brand Violife and plant-based margarine brand Flora, announced the Upfield Food Science Centre last month. It hopes to open the facility before the end of 2021.

Source: A €50 Million Vegan Cheese Research Facility Is Opening in the Silicon Valley of Food | LIVEKINDLY

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Market

Memphis Meats raised $161 million to grow meat from cells

The five-year-old startup said Wednesday it raised another $161 million in a new round of financing. The latest round of fundraising is led by SoftBank Group, Norwest and Temasek. It also includes flashy investors like Bill Gates and Richard Branson, as well as meat companies Tyson (TSN) and Cargill.That brings the company’s total funding above $180 million.

Source: Memphis Meats raised $161 million to grow meat from cells – CNN

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Market

Tyson Foods CEO on the company’s plant-based meat strategy

After investing in alternative meat maker Beyond Meat, Tyson exited its 6.5% investment in late April 2019 ahead of Beyond Meat’s initial public offering. “We have all the resources available to us from a culinary standpoint, R&D standpoint, manufacturing, distribution,” Tyson Foods CEO Noel White told Yahoo Finance at the World Economic Forum in Davos, Switzerland. “We have solid customer contacts. So it’s a space that we want to fully compete in, use all the resources that are available to us, and be a strong competitor in the marketplace.”

Source: Tyson Foods CEO on the company’s plant-based meat strategy

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Market

Prince Khaled bin Alwaleed sees a big future for plant-based foods

Bin Alwaleed admitted that there are still a few years ahead before plant-based products reach the price point of traditional meat, but was confident that innovation and scale would bring costs down over time. “These companies are definitely working on solving these problems, but the issue is they’re going to take a little while to actually make that happen,” he said.

Source: Prince Khaled bin Alwaleed sees a big future for plant-based foods