In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Rebellyous Foods, a plant-based chicken startup, announced that it raised $9.5 million in its recent equity financing.
- JOKR, an instant grocery delivery startup, announced that it raised over $50 million in its Series C round. The company hit a new $1.3 billion valuation after the funding.
- Morinaga Nutritional Foods, a US manufacturer of tofu, acquired Tofurky and Moocho for an undisclosed sum.
- Post Holdings announced that it plans to acquire leading dog and cat food brands from The J.M. Smucker Co. for $1.2 billion.
CPG Corporate Venture and Private Equity Fund
This week's featured CPG Corporate Venture and Private Equity Fund is Eighteen94 Capital.
- Kellogg’s, the world's largest producer of branded packaged cereal and a leader in branded convenience foods, launched its venture capital arm called Eighteen94 (1894) Capital in 2016.
- 1894 Capital invests in food and food-related tech startups developing new packaging, ingredients, products and technology.
- Some of their portfolio companies include:
- Siren
- Kuli
- Ucan
- Cargo
- Myco Technology
- Taali
- Plantible
Links to Relevant Content and Events
ARTICLES
- New Kainos Capital Fund Eyeing Small Food Company Buy-ins
- Restaurants Are Now Using Generative AI to Create Menu Photos That Could Convince Customers to Order More
- Meala FoodTech Raises $1.9 Million for Multifunctional Alt Meat Proteins (Israel)
- The Ugly Co. Raises $9 Million to Scale Sustainable Snack
- Roar Organic Raises $6 Million
- Middleby Buys Flavor Technology Supplier
- Rebellyous Foods Raises $9.5 Million to Build its Plant-Based Chicken Tech
- Grocery Deliverer JOKR Doubles Down On Brazil As It Secures $50 Million On $1.3 Billion Valuation
- Tofurky and Moocho Acquired by Morinaga Nutritional Foods
- Post Holdings to Acquire Rachael Ray® Nutrish®, Nature’s Recipe® and Other Select Pet Food Brands from The J.M. Smucker Co.
UPCOMING EVENTS
Albertsons Innovation Launchpad 2023 at Expo West
Wednesday, March 8, 8:30 – 10:45 a.m. PT
Location: Natural Products Expo West
Brands compete before the show opens in a 10-minute fast pitch environment to one of our groups of judges. We will award 3 grand prize winners with prizes over $170K in cash and industry service value. The top 10 brands will also get a guaranteed appointment with the national team and a consultation package with SPINS (including data) to build their story. There will also be a lot of industry recognition to the winners.
Naturally Network
Expo West Kick-Off Party
Wednesday, March 8
VIP Hour: 7:00 – 8:00 p.m. PT
General Admission: 8:00 – 10:00 p.m. PT
Location: Hilton Anaheim, West Convention Way 777, Anaheim, California, Pacific Ballroom
Join Naturally Network on March 8th for the Expo West Kick Off Party, presented by SPINS, in partnership with New Hope Network and Polsinelli. Get your Expo experience started right by connecting, networking, and mingling as a natural products community.
The facts, laws, and regulations regarding COVID-19 are developing rapidly. Since the date of publication, there may be new or additional information not referenced in this advisory. Please consult with your legal counsel for guidance.
DWT will continue to provide up-to-date insights and virtual events regarding COVID-19 concerns. Our most recent insights, as well as information about recorded and upcoming virtual events, are available at www.dwt.com/COVID-19.