Over $100M raised: Where the alt-meat haters at now? 🤷

Over $100M raised: Where the alt-meat haters at now? 🤷

By
Arman Anatürk
July 31, 2020

In This Week In Food, it's been another big week for alternative protein as collectively four companies in this space have raised over $100M this week for everything from replacing animal-derived ingredients to 3D printing plant-based patties.

This comes in the same week that Impossible Foods 50x their retail distribution footprint, China's alt-meat market shows 13%-15% annual growth and venture investors double their bets on faux meat startups (where the alt-meat haters at now?) 🤷‍♂️

Finally, for those who are currently building a business or plan to at some stage - read this thread about the founder of White Claw 🥤and what an 'overnight success' really looks like.
‍

‍

Spread it, sprinkle it, chew it

Meet the top 5 products featured on FoodHack Discovery this week:

1️⃣ This is not Parmesan, plant-based parmesan.
2️⃣ Nix & Kix, lightly sparkling drink with a subtle zing.
3️⃣ VAYO, organic, rich and creamy plant-based mayo.
4️⃣ Scrumbles, natural pet food: easy on tummies and the planet.
5️⃣ Mighty gum, immunity gums with adaptogens and vitamins.

Have a product you'd like to get featured? Fill out the form here🔍‍
‍

‍

Weekly Digest

‍

  • 💸 $4.8B in 6 months. According to new data from PitchBook and FoodTech VC Finistere Ventures, FoodTech and AgTech is on the rise despite the COVID crisis. Foodtech investment reached $4.8B during the first two quarters of 2020 compared to $7B for all of 2019.
    ‍
  • 🐜ŸnFrass No, it's not some hip new Swedish bar, instead, it's a natural fertilizer - derived from the insect waste of mealworms - which has just gained approval for use by ANSES, the French Agency for Food, Environmental and Occupational Health & Safety.
    ‍
  • 🍫 Pro tip: If you're going to launch a chocolate brand don't make it a square, otherwise these guys will have something to say about it.
    ‍
  • 🍺 Coca-Cola is entering the alcohol biz for the 1st time since 1983 with the launch of it's hard seltzer. This comes the same week they launch a coffee-flavored cola in the U.S. (after it flopped back in 2008).
    ‍
  • 🍔 Forget 10x'ing. Walmart now sells the Impossible Burger, which means the plant-based 'meat' is now in 50 times more grocery stores than it was in March - now that's scaling.
    ‍
  • 👨‍💻Who's hiring? The ongoing pandemic is great for businesses like Papa John’s and food-box business, Gusto who are hiring like hotcakes.
    ‍
  • 🖨 Brb printing your meal Israel-based, SavorEat has made headlines this week as they closed $3M funding for their 3D printed vegan patties. In a similar vein, check out our podcast episode with Redefine Meat, another Israel-based 3D printed meat company - set to launch their alt-steaks later this year.
    ‍
  • 🥫Carbon labels consumers want them, we need them. And they soon might be more widely used thanks to today's value-driven brands. Interested to know more? Dive deeper on carbon labeling here.
    ‍
  • 🇨🇳 Alternative protein innovation is heating up in China as plant-based meat sales continue to soar and 70% of Chinese consumers report an interest in cutting conventional meat consumption.
    ‍
  • 🍴Bucket list I know where I'm going on my next holiday (post-covid). A world tour of the top 50 restaurants in the world.
    ‍
  • 🍎 Ammonia This smart food container will estimate how much time you have before your food goes bad.
    ‍
  • ⏰ About time Marley Spoon announced their first profitable quarter with a recorded revenue of €73.3 million in the second quarter.
    ‍
  • 📈What's up: Investment in alternative protein, for the first half of 2020 is almost double what it was for the whole of 2019, according to a new report by investor network FAIRR.  
    ‍
  • 📉 Whats down: America's nuts. With fewer people on planes and out in bars dipping into a mix of cashews, peanuts, and more, some nut producers are seeing a 90% drop in business. Maybe it's time to pivot to nut butter instead?

‍

New in funding

  • Geltor - a startup producing collagen proteins via microbial fermentation (without animals) – has closed a $91.3m Series B round and says it plans to launch its first ingestible products next year.

  • Better Meat Co. raises $8.1M for Plant-Based Ingredient Enhancers.

  • Nice Tuan nets $80M for their fresh food group-buying platform.

  • New Age Meats raises $2M for Cell-Based Pork.

  • SavorEat raises $3M for their 3D Printing Meat Startup.

  • Grubbly Farms raises $2M for sustainable backyard chicken feed.

  • Protenga nets $1.6m for novel approach to Black Soldier Fly farming.

‍

Test tube meat: science fiction fantasy or food of the future? 🧪

In-vitro burgers might sound like something straight from a sci-fi novel but cultured meat is expected to be on the market in Europe as early as 2022.

With the global cultured meat market is already worth $72.6 million and and expected to grow to $291.4 million by 2027, a raft of start-ups in Europe, Asia and the USA are driving innovation and attracting attention-grabbing investments as they race to get their products on plates.


Trend Drivers


The landscape: As of end-2019, 55 cell-based meat and seafood start-ups have been established globally - from kangaroo meat (Vow food) to Foie Gras (GOURMEY) and more.

Just last week, we reported that Mosa Meat had achieved 80x reduction in the cost of the growth medium for their product and UK-based Higher Steaks unveiled their cell-based bacon and pork belly.

The cell-based meat industry appears to be on track to become a reality in supermarkets and restaurants, with prices going down, production going up, and investments going in. Read our full Trends report on lab-grown meat here.

‍

Written by
Arman Anatürk

Lived across North America, Europe and Asia, leading to my questionable cooking style. Jumped two feet forward into the startup world in 2013, and haven't looked back since. Always on the hunt for the next story or inside scoop to cover - email me or connect on LinkedIn.

Become a FoodHack+ member to get unlimited access

  • Read Unlimited Articles
  • Access Member Directory
  • Get Event Discounts

In This Week In Food, it's been another big week for alternative protein as collectively four companies in this space have raised over $100M this week for everything from replacing animal-derived ingredients to 3D printing plant-based patties.

This comes in the same week that Impossible Foods 50x their retail distribution footprint, China's alt-meat market shows 13%-15% annual growth and venture investors double their bets on faux meat startups (where the alt-meat haters at now?) 🤷‍♂️

Finally, for those who are currently building a business or plan to at some stage - read this thread about the founder of White Claw 🥤and what an 'overnight success' really looks like.
‍

‍

Spread it, sprinkle it, chew it

Meet the top 5 products featured on FoodHack Discovery this week:

1️⃣ This is not Parmesan, plant-based parmesan.
2️⃣ Nix & Kix, lightly sparkling drink with a subtle zing.
3️⃣ VAYO, organic, rich and creamy plant-based mayo.
4️⃣ Scrumbles, natural pet food: easy on tummies and the planet.
5️⃣ Mighty gum, immunity gums with adaptogens and vitamins.

Have a product you'd like to get featured? Fill out the form here🔍‍
‍

‍

Weekly Digest

‍

  • 💸 $4.8B in 6 months. According to new data from PitchBook and FoodTech VC Finistere Ventures, FoodTech and AgTech is on the rise despite the COVID crisis. Foodtech investment reached $4.8B during the first two quarters of 2020 compared to $7B for all of 2019.
    ‍
  • 🐜ŸnFrass No, it's not some hip new Swedish bar, instead, it's a natural fertilizer - derived from the insect waste of mealworms - which has just gained approval for use by ANSES, the French Agency for Food, Environmental and Occupational Health & Safety.
    ‍
  • 🍫 Pro tip: If you're going to launch a chocolate brand don't make it a square, otherwise these guys will have something to say about it.
    ‍
  • 🍺 Coca-Cola is entering the alcohol biz for the 1st time since 1983 with the launch of it's hard seltzer. This comes the same week they launch a coffee-flavored cola in the U.S. (after it flopped back in 2008).
    ‍
  • 🍔 Forget 10x'ing. Walmart now sells the Impossible Burger, which means the plant-based 'meat' is now in 50 times more grocery stores than it was in March - now that's scaling.
    ‍
  • 👨‍💻Who's hiring? The ongoing pandemic is great for businesses like Papa John’s and food-box business, Gusto who are hiring like hotcakes.
    ‍
  • 🖨 Brb printing your meal Israel-based, SavorEat has made headlines this week as they closed $3M funding for their 3D printed vegan patties. In a similar vein, check out our podcast episode with Redefine Meat, another Israel-based 3D printed meat company - set to launch their alt-steaks later this year.
    ‍
  • 🥫Carbon labels consumers want them, we need them. And they soon might be more widely used thanks to today's value-driven brands. Interested to know more? Dive deeper on carbon labeling here.
    ‍
  • 🇨🇳 Alternative protein innovation is heating up in China as plant-based meat sales continue to soar and 70% of Chinese consumers report an interest in cutting conventional meat consumption.
    ‍
  • 🍴Bucket list I know where I'm going on my next holiday (post-covid). A world tour of the top 50 restaurants in the world.
    ‍
  • 🍎 Ammonia This smart food container will estimate how much time you have before your food goes bad.
    ‍
  • ⏰ About time Marley Spoon announced their first profitable quarter with a recorded revenue of €73.3 million in the second quarter.
    ‍
  • 📈What's up: Investment in alternative protein, for the first half of 2020 is almost double what it was for the whole of 2019, according to a new report by investor network FAIRR.  
    ‍
  • 📉 Whats down: America's nuts. With fewer people on planes and out in bars dipping into a mix of cashews, peanuts, and more, some nut producers are seeing a 90% drop in business. Maybe it's time to pivot to nut butter instead?

‍

New in funding

  • Geltor - a startup producing collagen proteins via microbial fermentation (without animals) – has closed a $91.3m Series B round and says it plans to launch its first ingestible products next year.

  • Better Meat Co. raises $8.1M for Plant-Based Ingredient Enhancers.

  • Nice Tuan nets $80M for their fresh food group-buying platform.

  • New Age Meats raises $2M for Cell-Based Pork.

  • SavorEat raises $3M for their 3D Printing Meat Startup.

  • Grubbly Farms raises $2M for sustainable backyard chicken feed.

  • Protenga nets $1.6m for novel approach to Black Soldier Fly farming.

‍

Test tube meat: science fiction fantasy or food of the future? 🧪

In-vitro burgers might sound like something straight from a sci-fi novel but cultured meat is expected to be on the market in Europe as early as 2022.

With the global cultured meat market is already worth $72.6 million and and expected to grow to $291.4 million by 2027, a raft of start-ups in Europe, Asia and the USA are driving innovation and attracting attention-grabbing investments as they race to get their products on plates.


Trend Drivers


The landscape: As of end-2019, 55 cell-based meat and seafood start-ups have been established globally - from kangaroo meat (Vow food) to Foie Gras (GOURMEY) and more.

Just last week, we reported that Mosa Meat had achieved 80x reduction in the cost of the growth medium for their product and UK-based Higher Steaks unveiled their cell-based bacon and pork belly.

The cell-based meat industry appears to be on track to become a reality in supermarkets and restaurants, with prices going down, production going up, and investments going in. Read our full Trends report on lab-grown meat here.

‍

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  • Read Unlimited Articles
  • Access Member Directory
  • Join a Global Community
UPGRADE NOW
Cancel anytime

In This Week In Food, it's been another big week for alternative protein as collectively four companies in this space have raised over $100M this week for everything from replacing animal-derived ingredients to 3D printing plant-based patties.

This comes in the same week that Impossible Foods 50x their retail distribution footprint, China's alt-meat market shows 13%-15% annual growth and venture investors double their bets on faux meat startups (where the alt-meat haters at now?) 🤷‍♂️

Finally, for those who are currently building a business or plan to at some stage - read this thread about the founder of White Claw 🥤and what an 'overnight success' really looks like.
‍

‍

Spread it, sprinkle it, chew it

Meet the top 5 products featured on FoodHack Discovery this week:

1️⃣ This is not Parmesan, plant-based parmesan.
2️⃣ Nix & Kix, lightly sparkling drink with a subtle zing.
3️⃣ VAYO, organic, rich and creamy plant-based mayo.
4️⃣ Scrumbles, natural pet food: easy on tummies and the planet.
5️⃣ Mighty gum, immunity gums with adaptogens and vitamins.

Have a product you'd like to get featured? Fill out the form here🔍‍
‍

‍

Weekly Digest

‍

  • 💸 $4.8B in 6 months. According to new data from PitchBook and FoodTech VC Finistere Ventures, FoodTech and AgTech is on the rise despite the COVID crisis. Foodtech investment reached $4.8B during the first two quarters of 2020 compared to $7B for all of 2019.
    ‍
  • 🐜ŸnFrass No, it's not some hip new Swedish bar, instead, it's a natural fertilizer - derived from the insect waste of mealworms - which has just gained approval for use by ANSES, the French Agency for Food, Environmental and Occupational Health & Safety.
    ‍
  • 🍫 Pro tip: If you're going to launch a chocolate brand don't make it a square, otherwise these guys will have something to say about it.
    ‍
  • 🍺 Coca-Cola is entering the alcohol biz for the 1st time since 1983 with the launch of it's hard seltzer. This comes the same week they launch a coffee-flavored cola in the U.S. (after it flopped back in 2008).
    ‍
  • 🍔 Forget 10x'ing. Walmart now sells the Impossible Burger, which means the plant-based 'meat' is now in 50 times more grocery stores than it was in March - now that's scaling.
    ‍
  • 👨‍💻Who's hiring? The ongoing pandemic is great for businesses like Papa John’s and food-box business, Gusto who are hiring like hotcakes.
    ‍
  • 🖨 Brb printing your meal Israel-based, SavorEat has made headlines this week as they closed $3M funding for their 3D printed vegan patties. In a similar vein, check out our podcast episode with Redefine Meat, another Israel-based 3D printed meat company - set to launch their alt-steaks later this year.
    ‍
  • 🥫Carbon labels consumers want them, we need them. And they soon might be more widely used thanks to today's value-driven brands. Interested to know more? Dive deeper on carbon labeling here.
    ‍
  • 🇨🇳 Alternative protein innovation is heating up in China as plant-based meat sales continue to soar and 70% of Chinese consumers report an interest in cutting conventional meat consumption.
    ‍
  • 🍴Bucket list I know where I'm going on my next holiday (post-covid). A world tour of the top 50 restaurants in the world.
    ‍
  • 🍎 Ammonia This smart food container will estimate how much time you have before your food goes bad.
    ‍
  • ⏰ About time Marley Spoon announced their first profitable quarter with a recorded revenue of €73.3 million in the second quarter.
    ‍
  • 📈What's up: Investment in alternative protein, for the first half of 2020 is almost double what it was for the whole of 2019, according to a new report by investor network FAIRR.  
    ‍
  • 📉 Whats down: America's nuts. With fewer people on planes and out in bars dipping into a mix of cashews, peanuts, and more, some nut producers are seeing a 90% drop in business. Maybe it's time to pivot to nut butter instead?

‍

New in funding

  • Geltor - a startup producing collagen proteins via microbial fermentation (without animals) – has closed a $91.3m Series B round and says it plans to launch its first ingestible products next year.

  • Better Meat Co. raises $8.1M for Plant-Based Ingredient Enhancers.

  • Nice Tuan nets $80M for their fresh food group-buying platform.

  • New Age Meats raises $2M for Cell-Based Pork.

  • SavorEat raises $3M for their 3D Printing Meat Startup.

  • Grubbly Farms raises $2M for sustainable backyard chicken feed.

  • Protenga nets $1.6m for novel approach to Black Soldier Fly farming.

‍

Test tube meat: science fiction fantasy or food of the future? 🧪

In-vitro burgers might sound like something straight from a sci-fi novel but cultured meat is expected to be on the market in Europe as early as 2022.

With the global cultured meat market is already worth $72.6 million and and expected to grow to $291.4 million by 2027, a raft of start-ups in Europe, Asia and the USA are driving innovation and attracting attention-grabbing investments as they race to get their products on plates.


Trend Drivers


The landscape: As of end-2019, 55 cell-based meat and seafood start-ups have been established globally - from kangaroo meat (Vow food) to Foie Gras (GOURMEY) and more.

Just last week, we reported that Mosa Meat had achieved 80x reduction in the cost of the growth medium for their product and UK-based Higher Steaks unveiled their cell-based bacon and pork belly.

The cell-based meat industry appears to be on track to become a reality in supermarkets and restaurants, with prices going down, production going up, and investments going in. Read our full Trends report on lab-grown meat here.

‍

In This Week In Food, it's been another big week for alternative protein as collectively four companies in this space have raised over $100M this week for everything from replacing animal-derived ingredients to 3D printing plant-based patties.

This comes in the same week that Impossible Foods 50x their retail distribution footprint, China's alt-meat market shows 13%-15% annual growth and venture investors double their bets on faux meat startups (where the alt-meat haters at now?) 🤷‍♂️

Finally, for those who are currently building a business or plan to at some stage - read this thread about the founder of White Claw 🥤and what an 'overnight success' really looks like.
‍

‍

Spread it, sprinkle it, chew it

Meet the top 5 products featured on FoodHack Discovery this week:

1️⃣ This is not Parmesan, plant-based parmesan.
2️⃣ Nix & Kix, lightly sparkling drink with a subtle zing.
3️⃣ VAYO, organic, rich and creamy plant-based mayo.
4️⃣ Scrumbles, natural pet food: easy on tummies and the planet.
5️⃣ Mighty gum, immunity gums with adaptogens and vitamins.

Have a product you'd like to get featured? Fill out the form here🔍‍
‍

‍

Weekly Digest

‍

  • 💸 $4.8B in 6 months. According to new data from PitchBook and FoodTech VC Finistere Ventures, FoodTech and AgTech is on the rise despite the COVID crisis. Foodtech investment reached $4.8B during the first two quarters of 2020 compared to $7B for all of 2019.
    ‍
  • 🐜ŸnFrass No, it's not some hip new Swedish bar, instead, it's a natural fertilizer - derived from the insect waste of mealworms - which has just gained approval for use by ANSES, the French Agency for Food, Environmental and Occupational Health & Safety.
    ‍
  • 🍫 Pro tip: If you're going to launch a chocolate brand don't make it a square, otherwise these guys will have something to say about it.
    ‍
  • 🍺 Coca-Cola is entering the alcohol biz for the 1st time since 1983 with the launch of it's hard seltzer. This comes the same week they launch a coffee-flavored cola in the U.S. (after it flopped back in 2008).
    ‍
  • 🍔 Forget 10x'ing. Walmart now sells the Impossible Burger, which means the plant-based 'meat' is now in 50 times more grocery stores than it was in March - now that's scaling.
    ‍
  • 👨‍💻Who's hiring? The ongoing pandemic is great for businesses like Papa John’s and food-box business, Gusto who are hiring like hotcakes.
    ‍
  • 🖨 Brb printing your meal Israel-based, SavorEat has made headlines this week as they closed $3M funding for their 3D printed vegan patties. In a similar vein, check out our podcast episode with Redefine Meat, another Israel-based 3D printed meat company - set to launch their alt-steaks later this year.
    ‍
  • 🥫Carbon labels consumers want them, we need them. And they soon might be more widely used thanks to today's value-driven brands. Interested to know more? Dive deeper on carbon labeling here.
    ‍
  • 🇨🇳 Alternative protein innovation is heating up in China as plant-based meat sales continue to soar and 70% of Chinese consumers report an interest in cutting conventional meat consumption.
    ‍
  • 🍴Bucket list I know where I'm going on my next holiday (post-covid). A world tour of the top 50 restaurants in the world.
    ‍
  • 🍎 Ammonia This smart food container will estimate how much time you have before your food goes bad.
    ‍
  • ⏰ About time Marley Spoon announced their first profitable quarter with a recorded revenue of €73.3 million in the second quarter.
    ‍
  • 📈What's up: Investment in alternative protein, for the first half of 2020 is almost double what it was for the whole of 2019, according to a new report by investor network FAIRR.  
    ‍
  • 📉 Whats down: America's nuts. With fewer people on planes and out in bars dipping into a mix of cashews, peanuts, and more, some nut producers are seeing a 90% drop in business. Maybe it's time to pivot to nut butter instead?

‍

New in funding

  • Geltor - a startup producing collagen proteins via microbial fermentation (without animals) – has closed a $91.3m Series B round and says it plans to launch its first ingestible products next year.

  • Better Meat Co. raises $8.1M for Plant-Based Ingredient Enhancers.

  • Nice Tuan nets $80M for their fresh food group-buying platform.

  • New Age Meats raises $2M for Cell-Based Pork.

  • SavorEat raises $3M for their 3D Printing Meat Startup.

  • Grubbly Farms raises $2M for sustainable backyard chicken feed.

  • Protenga nets $1.6m for novel approach to Black Soldier Fly farming.

‍

Test tube meat: science fiction fantasy or food of the future? 🧪

In-vitro burgers might sound like something straight from a sci-fi novel but cultured meat is expected to be on the market in Europe as early as 2022.

With the global cultured meat market is already worth $72.6 million and and expected to grow to $291.4 million by 2027, a raft of start-ups in Europe, Asia and the USA are driving innovation and attracting attention-grabbing investments as they race to get their products on plates.


Trend Drivers


The landscape: As of end-2019, 55 cell-based meat and seafood start-ups have been established globally - from kangaroo meat (Vow food) to Foie Gras (GOURMEY) and more.

Just last week, we reported that Mosa Meat had achieved 80x reduction in the cost of the growth medium for their product and UK-based Higher Steaks unveiled their cell-based bacon and pork belly.

The cell-based meat industry appears to be on track to become a reality in supermarkets and restaurants, with prices going down, production going up, and investments going in. Read our full Trends report on lab-grown meat here.

‍