Earth First Food Ventures’ Post

The plant-based boom isn’t over, it’s just in a ‘correction phase’! 💥🌱 You might have seen a lot of chatter about alternative proteins on the downturn recently, but fear not, the industry is navigating a necessary correction phase that will strengthen its long-term outlook and resilience, according to an exciting report from the ProVeg Incubator. 📝 In our latest article for the ProVeg New Food Hub, Gemma Tadman Ⓥ explains why the future is bright for the plant-based and alternative protein sector, and how brands and retailers can navigate the years ahead. Read the article ➡️ https://bit.ly/3Uyjm0u #ProVeg #ProVeg100Startups #AlternativeProteins

💥 MicroHarvest has confirmed its ability to scale its production process to 10 tons per day, representing a ten-fold increase over its current capacity. By the end of 2026, it will be able to produce up to 15,000 tons annually. 🆙 The launch of its pilot plant in Lisbon has allowed the German startup to accelerate this path to commercialization of its single-cell #protein ingredients and contribute to a more resilient and eco-friendly #food system. 👩💼 MicroHarvest CEO Katelijne Bekers: "While many #biotechnology startups struggle to scale their #production beyond small pilot volumes of just a few kilos, we have successfully run pilots with 50-100 kg of product." 🐟 🌱 The Biotech startup plans to conduct trials in #salmon and #shrimp with several global aqua feed producers, covering millions of metric tons of #feed. https://lnkd.in/duSG6iax

From the article: "Danone aims to ramp up its innovation cycle and drive down its emissions with the new Biotech Open Platform it announced earlier this month...the initiative looks to scale up fermentation technologies – particularly precision fermentation – to create bio-sourced materials and ingredients for multiple industries...By joining forces with top industry experts across categories, connecting with the food startup ecosystem as well as the academic world, we will be able to accelerate our innovation and decarbonisation projects, and drive competitive advantage with precision fermentation.” https://lnkd.in/ewms7uv5

USD 5 million for yeast-based dairy alternatives: Cultivated Biosciences raises funding to prepare its market launch. Congratulations to the foodtech innovators Tomas Turner, Dimitri Zogg, Lucie Rein and their amazing team! https://lnkd.in/depRc4rf Investors include Navus Ventures B.V., Founderful, HackCapital, Lukas Böni (co-founder of Planted), US-based Joyful VC, Mandi Ventures, and Zürcher Kantonalbank. About: Today dairy causes 4% of global greenhouse gas emissions. Plant-based alternatives, although gaining traction, do not appeal to many consumers as they lack a creaminess for which the fat component is key. Cultivated Biosciences wants to fix this. The startup is developing a fat-rich ingredient from GMO-free yeast which offers the creaminess needed for plant-based dairy. This ingredient has a clean label and a sustainable production process. Cultivated Biosciences is a 2022 alumnus of Venture Kick and two-time laureate of the TOP 100 Swiss Startup Award. #SwissStartups #FoodTech #VentureKick

💰🧬 INSEMPRA SECURES $20M FOR FERMENTED LIPID EXPANSION Led by EQT Ventures, the Series A round builds on Insempra’s 2021 seed funding to bring its total raised to over $35M. Other participants included returning investors BlueYard Capital, Possible Ventures, Taavet+Sten and Acequia Capital, and new investors such as Henkel dx Ventures, Bayern Kapital and Alante Capital. The German startup plans to use the capital to scale up its technology, scouting, development and manufacturing capabilities, with the goal of turning oil yeast into lipids on an industrial scale using precision fermentation. “New technology platforms such as Insempra’s have the potential to dramatically change the manufacturing processes of multiple multibillion-dollar industries, developing customised ingredients to fit market needs,” said Ted Persson partner at EQT Ventures. Founded in 2020 by Andreas Heyl and Jens Klein, Insempra leverages new technologies to make bio-based alternatives to problematic ingredients and products for multiple applications and industries. many companies currently rely on oils and materials sourced from petrochemicals, which have a harmful effect on the planet and deplete our already limited natural resources. Lipids are compounds that come in the form of fats and oils that are ever-present in beauty, fashion and food product formulations. But currently, they mostly come from petrochemicals. “Lipids typically are either extracted from nature – you harvest the plant – or you can produce them petrochemical,” Klein, who is Insempra’s CEO, told TechCrunch. There are a host of companies producing lipids from sustainable ingredients. In the food industry itself, Australia’s Nourish Ingredients and California’s Yali Bio also use precision fermentation to produce fats and lipids, while Germany’s Planet A Foods (maker of cocoa-free chocolate ChoViva) is focusing on plant-based lipids. Swiss startup Cultivated Biosciences, meanwhile, similarly leverages yeast fermentation to produce lipids as part of its alternative dairy fat. #GreenQueen #altprorein #futurefoods #foodtech #sustainability

🥚💰 ONEGO BIO RAISES €14M FOR ANIMAL-FREE EGG PROTEIN Three months after raising $40M in its Series A round, Finnish precision fermentation player Onego Bio has brought in another €14M ($15.2M) to scale up production and fuel its EU plans. The latest capital injection comes from the European Innovation Council’s (EIC) Accelerator Programme and additional Series A investors, taking the total raised by the startup to $70.8M. It comes as Onego Bio gears up for a North American launch, expecting to achieve self-determined Generally Recognized as Safe (GRAS) status for its Bioalbumen protein in the US this year, with a ‘no further questions’ letter from the US FDA anticipated in 2025. The EIC financing will also be used to drive its launch strategy in the EU, where it plans to submit a dossier for novel food approval to the European Food Safety Authority (EFSA). Eventualy, it aims to enter the South American and Asian markets as well. Onego Bio was one of 68 companies that attracted investment from the EIC scheme. A total of 969 startups had initially submitted proposals, 347 of which were interviewed by juries of investors and entrepreneurs. Of the selected companies, only 21% were women-led – but one of these is Onego Bio. With egg prices regularly fluctuating due to an unstable supply chain, innovations like Onego Bio’s are crucial for a resilient food system. Currently, it is producing the Bioalbumen with co-manufacturers and finalising plans for its own manufacturing unit. Read the full article here: https://lnkd.in/eurivRRD #GreenQueen #futurefoods #foodtech #sustainability #innovation

🥩💰 FoodTech 500 alum Millow secures funding for its alt protein products. Millow.co, a Swedish startup specializing in minimally processed meat substitutes made from oats and mycelium, has secured a €2.4 million grant from the European Innovation Council (EIC) Accelerator. The company also stands to receive up to €15 million in equity funding from the EIC Fund as part of a blended finance scheme. These funds will be used to scale up Millow's alt protein production, which combines mycelium with a plant-based substrate, primarily oats, using a unique fermentation process. This method produces hybrid products with a roughly 50/50 ratio of fungi and plants, offering a meat-like texture and nutritional benefits such as reduced phytic acid content for better nutrient absorption. More information about Millow here: https://lnkd.in/dtFCEk3X Read the full AgFunder News article here: https://lnkd.in/eScuJhjz #ForwardFooding #FoodTech500 #foodtech #innovation #fermentation #altprotein #futurefood

💼🚀 This week's top stories in Funding, Acquisition, and Finance: 🌱 Day 8's Plant-Based Protein Innovation: Israeli startup secures $750K pre-seed funding for its novel upcycled proteins, spotlighting a sustainable future in food tech. 🥩 Cultivated Meat Advances in the UK: With a near £500,000 government grant, CPI, MarraBio, and Aelius Biotech push forward on cultivated meat, promising a leap towards sustainable meat production. 💵 Bluestein Ventures' Food Tech Vision: Closing its third fund at $45M, the firm sets its sights on nurturing early-stage food and beverage innovations, ensuring a healthier and sustainable food ecosystem. 🛒 VFG & TOFUTOWN's Strategic Union: Aiming to become Europe's plant-based powerhouse, VFG's acquisition of TOFUTOWN forecasts group revenues soaring over €100M, marking a significant shift in the plant-based industry landscape. #FutureOfFood #SustainableInnovation

💰 VC firm ready to invest in FoodTech startups with new fund raised. FoodTech venture capital firm PeakBridge has successfully closed its Growth Fund II after raising $187M. The firm, which focuses on early-stage growth companies in alternative proteins, ingredient innovation, nutrition and health, digital tools, and sustainable farming, has invested in companies such as: 🥩 Vow 🍫 Win-Win 🥛 Kern Tec PeakBridge is also investing in AI technologies to address supply chain and market challenges. Its investment in AI platforms like Tastewise, Delicious Data GmbH, and InsideTracker exemplifies its commitment to using technology to create sustainable and profitable solutions in the food industry. Despite PeakBridge's fundraising success, founder and managing director Nadav Berger acknowledged that many FoodTech VC firms face challenges in raising additional funds as investors shift their focus elsewhere. He warned that the pullback from the FoodTech space might be excessive, stressing the need for continued investment to address supply chain challenges. Learn more in the full FoodNavigator article here: https://lnkd.in/eippt3Tx #ForwardFooding #investment #funding #altprotein #foodtech #ai #foodindustry #sustainability #supplychain

𝐌𝐞𝐥𝐭&𝐌𝐚𝐫𝐛𝐥𝐞 𝐫𝐞𝐜𝐞𝐧𝐭𝐥𝐲 𝐡𝐢𝐭 𝐚 𝐦𝐚𝐣𝐨𝐫 𝐬𝐜𝐚𝐥𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐦𝐢𝐥𝐞𝐬𝐭𝐨𝐧𝐞 🚀—𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥𝐥𝐲 𝐬𝐜𝐚𝐥𝐢𝐧𝐠 𝐨𝐮𝐫 𝐩𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐟𝐞𝐫𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 𝐭𝐨 𝐭𝐞𝐧𝐬 𝐨𝐟 𝐭𝐡𝐨𝐮𝐬𝐚𝐧𝐝𝐬 𝐥𝐢𝐭𝐫𝐞𝐬! Here’s why demo scale is such an important milestone for biotech ingredient startups like ours: - 𝐒𝐡𝐨𝐰𝐢𝐧𝐠 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 : Larger-scale production means we’re one step closer to bringing our sustainable, precision-fermented fats to market, allowing us to meet growing global demand.    - 𝐒𝐚𝐦𝐩𝐥𝐞𝐬 & 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐓𝐞𝐬𝐭𝐢𝐧𝐠: With larger quantities of fat ingredient now available, we can provide more samples for real-world application pilots, allowing us to fine-tune our products for various industries. - 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬: This milestone opens up new partnership opportunities, enabling us to collaborate with food, personal care, and other companies to accelerate innovation and bring our solutions to market faster. 🌱 The future of sustainable fats is here—and we’re just getting started. 👉 #Scalability #BiotechInnovation #SustainableFood #PrecisionFermentation #FutureOfFood**