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Food + Beverage

Food Venture Financing News - Weekly Issue No. 192

05.16.24
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In This Issue:

  • Food Venture Financing Trends
  • CPG Corporate Venture and Private Equity Funds
  • Links to Relevant Content and Events

Food Venture Financing Trends

  • Meati, an alternative meat emerging brand that uses mycelium, announced that it raised $100 million in its Series C-1 financing.
  • Voyage Foods, a cocoa-free chocolate foodtech startup, announced that it raised $52 million in funding.
  • Chowdeck, a Nigerian food delivery startup that is part of Y Combinator, announced that it raised $2.5 million in funding.
  • Hexis, an AI nutrition sports nutrition app, announced that it raised $2 million in pre-seed capital.

CPG Corporate Venture and Private Equity Fund

This week’s featured corporate venture and private equity fund is The Sustainable Local Food Investment Group.

  • The Sustainable Local Food Investment Group (SLoFIG) is a network of accredited independent investors who share the mission of using private investment to re-establish a robust and sustainable food system across the Chicago foodshed.  It provides capital, expertise, and a network of contacts to early-stage companies to help drive their success.
  • SLoFIG invests in early-stage companies along the entire food value chain:
    • production / farming / urban ag
    • processing / business services
    • aggregation / distribution
    • consumer packaged goods
    • grocery / other retail
    • food service / meal delivery
    • waste / compost
  • Some of SLoFIG’s portfolio companies include:
    • Soom
    • Canopy Farm Management
    • Fillo’s Americas Made
    • Village Farmstand
    • Pear Chef
    • Kitch FIX
    • Prairie Wind Family Farm
    • Phyter


Links to Relevant Content and Events

ARTICLES


  • Voyage Foods Raises $52 Million for Allergen-Free Foods
  • Our Home Acquires Cheese Snack Manufacturer Sonoma Creamery
  • Simply Good Foods to Buy Protein Shake Brand OWYN in $280 Million Deal
  • Meati Foods Raises $100 Million, Rolls Out at Kroger Nationwide
  • Danone Expands Portfolio With Acquisition of Functional Formularies
  • ArkeaBio Raises $26.5 Million in Series A Funding
  • Mycocycle Raises $3.6 Million to Transform Waste into Sustainable Raw Materials with Fungi

UPCOMING EVENTS


Naturally San Diego
Unveiling the Mysteries of Operational Accounting for CPG Companies

Monday, May 20 | 12:00 p.m. – 1:00 p.m. PT

Join Naturally San Diego for an introduction to CPG accounting, reporting, and auditing for start-up and small to mid-sized enterprises.

RSM will discuss the different basis of accounting (cash, tax, modified-cash, accrual, GAAP, etc.), dual entry system of debits and credits, journal entries/GL level accounting, and general types of audits (compilation, review, audit). There will be some time saved for Q&A at the end. Please send your questions prior to the event.

Register


Naturally New York
How AI Can Streamline Operations, Finance, and more

Tuesday, May 21 | 12:00 p.m. – 1:00 p.m. ET

Join Naturally New York for a panel discussion on the latest AI trends and tools in the food and beverage industry, and how this technology is revolutionizing how CPG brands operate.

This event features Akash Raju as the Keynote Speaker and AI Technologist running the roundtable. Akash is the Co-founder and CEO of Glimpse, a Y Combinator Startup that received $6+ million in funding and has built the first-ever AI-powered deductions service

Register


Naturally Chicago
Pitch Slam and Financing & Innovation Forum

Tuesday, May 21 | 1:00 p.m. – 7:00 p.m. CT
Location: Epiphany Center for the Arts, 201 South Ashland Ave., Chicago, IL

Here is the lineup for what promises to be a memorable event:

  • Not one but two Pitch Slams, one for businesses with $1-4 million annual revenue, the other for businesses with less than $1 million annual revenue. The prize package includes a combined total of nearly $200,000 in business services; Pitch Slam judges are industry-leading experts. Apply to pitch here.
  • The Financing & Innovation Forum will feature a discussion with leading retailers including: Mariano's, Fresh Thyme Market, Foxtrot/Dom's, and more.
  • Brands seeking capital will exhibit their products at the Innovation Showcase.

The amazing program concludes with a Networking Reception, where you can join industry leaders to enjoy fabulous cocktails, networking and more.

Register


Naturally North Bay
Human Resources Roundtable + Legal Updates
*NNB + NBA MEMBERS ONLY*

Tuesday, May 21 | 12:00 p.m. – 1:00 p.m. PT

Join Naturally North Bay's Human Resources Forum for a roundtable discussion focusing on the sharing of best practices, experiences and thoughtful pieces of advice to other professionals within the world of HR.

Register


Naturally Bay Area
Quick Bites: Minimizing Risk in Your Business

Tuesday, May 21 | 12:00 p.m. – 12:45 p.m. PT

Learn from three experts on how to anticipate and minimize risks in your business. We'll hear how to identify supply chain risks and how to protect against it; how to avoid litigation and protect IP and trademarks; and how to identify and protect against financial fraud.

Speakers:

  • Cheryl Cauley, Department Chair - Litigation at Baker Botts LLP
  • Monika Pelz, Managing Director of Moss Adams LLP
  • Pete Picetti, Senior Vice President at Heffernan Insurance Brokers

Register


Naturally New England
Pitch Slam

Tuesday, May 21 | 5:00 p.m. – 8:00 p.m. ET
Location: BevNet HQ, 65 Chapel Street MA, Newton, MA

Naturally New England is hosting its first annual Pitch Slam. This premier event of the year will celebrate the New England region’s up-and-coming brands with a community gathering, and countless opportunities to connect, showcase, and grow.

Register


Naturally San Diego
Trivia Night

Tuesday, May 21 | 6:00 p.m. – 8:00 p.m. PT
Location: Harland Brewing Bay Park, 4112 Napier St, San Diego, CA

Join NSD for trivia night at Harland Brewing Bay Park for delicious brews and prizes for the top teams.

Register


Naturally Los Angeles
Trivia Night

Tuesday, May 21 | 6:00 p.m. – 9:00 p.m. PT
Location: Sorry Not Sorry, West Pico Boulevard 11520, Los Angeles, CA

Put your knowledge to the test at Naturally LA’s upcoming CPG Trivia Night! Whether you're a CPG guru or just curious about the industry, gather your friends for an evening of challenging questions, networking, and fun.

Don't miss this chance to connect with fellow industry enthusiasts and professionals in a relaxed and lively setting.

Register


Naturally Minnesota
May Community Day & Founders Forum

Wednesday, May 22 | 9:00 a.m. – 2:00 p.m. CT
Location: FINNOVATION Lab, Fifth Avenue South 817, Minneapolis, MN

Many farm and food businesses are venturing beyond traditional grocery retail and embracing diversified revenue streams through foodservice. In this interactive Community Day, you'll get a broad overview of the various foodservice channels, from restaurants, hotels, and airlines to institutions such as schools, universities, military bases, and healthcare facilities.

Learn about the distinct needs and expectations of buyers in these sectors and hear from producers that have forged successful foodservice partnerships. We'll take a deeper dive on local farm- and CPG-to-school opportunities and requirements and hear about foodservice tradeshows supported by the Minnesota Department of Agriculture. You will gain valuable insights and connections to kickstart your business' journey into the dynamic world of foodservice.

Register


Naturally Bay Area
Bay Area Sales & Marketing Forum: Packaging Trends + Marketing to Gen Z
*Members Only*

Wednesday, May 22 | 9:00 a.m. – 11:00 a.m. PT
Location: BPM, One California Street, Suite 2500, San Francisco, CA

Join Naturally Bay Area at the BPM offices for an in-person meeting of their Sales & Marketing Forum for a two-part marketing discussion.

Register

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