McDonald's McPlant question, Alt dairy firms to watch out for, food and beverage EFT spike-FFF's best of the web
By John Reynolds on Wednesday 4 May 2022
By John Reynolds on Wednesday 4 May 2022
Future Food Finance cherry-picks the stories we think should be on the radar of investors.
Beyond Meat’s shares soared 34 per cent, its biggest gain in more than a year, following a report that its McPlant burger would become a permanent menu item at McDonald’s. Morgan Flatley, McDonald’s global chief marketing officer reportedly said in a Fast Company panel discussion: “We are confident this product will stay in restaurants. This is not a fad. It’s a product that is going to continue to grow.” But the fast-food giant subsequently said it has no new plans to announce with Beyond Meat. While becoming a permanent fixture at McDonald’s would undoubtedly provide a fillip for Beyond Meat, Beyond Meat still has agreements with KFC, Pizza Hut and Taco Bell owner-Yum and also supplies Starbucks and Denny’s.
Indian AgTech darling DeHaat bags majority stake in FoodTech firm Y-Cook India
DeHaat, a platform that offers full-stack agricultural services to farmers in India, has acquired a majority stake in Y-Cook India, a food tech firm that offers ready-to-used steamed produce. It processes and exports sweet corn and lentils to nine countries. DeHaat is a big player in the Indian startup world and last year raised $115m in what as then the largest funding round for an agritech startup in India.
A nice primer on the current state of the global culture meat market, including regulator updates. The Reuters piece suggests the first cultivated meat products are expected to appear as early as 2023.
Breakfast: protein shake made from cow-milk brewed cell cultures, with insect powder for protein, blue-green algae for vitamins and lab-grown cloudberry slurry for taste. Lunch: a burger made from beef grown in a vat and for dinner a burrito made from scrambled cultured fungal protein.
Plant-based proponents say that getting price parity or being cheaper than animal proteins then watch sales boom. If so, then Seattle-based Rebellyous Foods, which has made restaurant-quality vegan chicken nuggets that are equal in price to animal proteins could be one to watch.
In light of the success of Oatly and Perfect Day, the alternative dairy sector is garnering a lot of attention. Here, Green Queen looks at some of the hottest startups to watch out for in the sector
An exchange-traded fund focused on food and beverages is seeing a spike in interest for the first time since it was set up amid concerns over a mounting global food crisis and rising prices. The First Trust Nasdaq Food & Beverage ETF (ticker FTXG) on Friday saw an inflow of $230 million, the most since it was set up in 2016, according to data compiled by Bloomberg
An entrepreneurial family investing a seven-figure sum to build a Scottish oat milk brand. George Mackintosh, 64, a software specialist, said the investment would cover the first phase of getting Mackintosh Oats operating. He is partnering with his nephew Gregor Mackintosh, 34, who created the Mackintosh of Glendaveny rapeseed oil brand, on the venture. A new oat milk processing facility is to be built adjacent to the Mackintosh family’s farm in Aberdeenshire where the rapeseed oil is produced. The first products should be available in the autumn.
Grubhub is to launch its first-ever virtual restaurant concept. The restaurant is being launched in partnership with the Fox cooking competition show, MasterChef, in which multiple MasterChef alums, will provide a couple of classic American dishes to curate a menu that customers will soon be able to order nationally.
Neat Burger- Undisclosed
Leonardo DiCaprio has invested in Neat Burger, a vegan fast-food chain co-founded by Formula One star Lewis Hamilton. The Oscar-winning actor and environmental activist, who has already invested in Mosa Meats and Aleph Farms, is taking on the role of strategic advisor as Neat Burger begin its international expansions.
Food Rocket- $25m
Californian zippy grocery delivery firm Food Rocket, which pledges to deliver within 10-15 minutes, has raised $25m in a Series A round. Food Rocket said it plans to use the funds to grow its services in Chicago and other US cities, as well as to bolster its team and technology.
Crafty-$10m
Chicago-based food management firm Crafty has raised $10m in a Series A funding round. It plans to use the funds to invest in growth with a focus on recruiting key hires for its technology, product, and sales teams.
Nature Fynd- $4.76m
Fermentation tech firm Nature Fynd has bagged a $4.76m grant from the Bill and Melinda Gates Foundation to make its products for low- and middle-income farming communities.
CoverCress-$26m
St. Louis-based AgTech startup CoverCress has raised $26m in a Series C-1 round. CoverCress has also struck a commercial tie-up with Bung, developing renewable fuels from processing grain from the startup.
Farmerline-$13m
Farmerline, a Ghanaian agribusiness marketplace now supporting more than 75,000 farmers, has raised $13m in capital and debt. The agribusiness, which uses software to streamline Ghana’s fragmented agrifood supply chain, will use the funds to build physical infrastructure, warehouses and distribution networks.
Tractor Junction-$5.7m
India’s Tractor Junction, an online marketplace for tractors and other farm vehicles, has raised $5.7 million in funding. The seed round was co-led by Indian firms Edge Ventures and Omnivore. Tractor Junction said it will use the funding to open several brick-and-mortar stores, adding a physical touchpoint for its users.
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