One week in a post #35: Alt:Fats, Plant-Based Whole Cuts, Household Restocking, Scaling Facilities.
One week in a post #35: Alt:Fats, Plant-Based Whole Cuts, Household Restocking, Scaling Facilities.
3 Highlights of the Week
1/ Alt:Fat for Performance Gap
Consumer acceptance of novel/unfamiliar foods still poses something of a challenge. Acceptance of meat substitutes are still low or uncertain in several countries. Givaudan is focusing on bridging the taste gap. Plant BBQ brand Barvecue and protein innovator Arbiom announced a strategic partnership to improve the taste, texture and nutritional profile. DSM shared the mouthfeel challenge last year. Alternative Fats are increasingly popping up as a potential “fixer” for plant-based alternatives on the market.
2/ Structure building for Alt:Meat
There is an increasing number of headlines around scaling facilities being funded, designed, built. This past month, the Cultivated B emerged out of stealth mode to fix the lack of industrial bioprocessing capacity for cultivated meat.Sweden-based agricultural cooperative Lantmännen is investing $91 million to construct a new pea protein facility. Microalgae protein company Brevel reached an agreement with Kibbutz Yotvata, to build a fermentation facility in Israel. Cultivated meat company Ivy Farm just opened a pilot plant in the UK that can produce nearly three tons of cultivated meat per year. Mycoprotein producer ENOUGH has opened its flagship production facility in the Netherlands. Israel-based fermentation company NextFerm will soon begin construction on a new protein production facilityin the Balkan region. Cultivated meat company Vow Foods just opened a facility in Australia, capable of producing 30 tons of cultivated meat per year. Last but now least, an Israeli company called BioBetter believes the solution to cheaper growth factors lies in turning tobacco plants into “natural bioreactors”.
3/ Alt:Meat TAM?
According to a recent report by Deloitte, the portion of the US population open to trying (and repeat buying) it may already have reached a saturation point. Furthermore, with inflation, fewer people are willing to pay a price premium. Some assumed benefits are being questioned by consumers, as well. Last year, almost seven in 10 consumers (68%) who had purchased PBA meat believed it was healthier than animal meat. But some of these consumers are changing their minds, as this year, the number dropped by 8 percentage points. A similar but smaller drop occurred with environmental sustainability, down 5 percentage points.
Recently raised $
Partake Foods raises $11.5 million in Series B funding
The Rounds raises $38M Series A for its sustainable ‘household restocking’ service
Pizza robot truck startup Stellar snags $16.5M from Jay-Z
GreenBytes, the Icelandic green tech company for restaurants has announced a $1M pre-seed round led by Crowberry Capital
Tractor Zoom scoops up $5m to bring better data, transparency to farm equipment buying
Elevate Farms raises C$26 million in funding
Gene editing startup Inari bags $124m to ‘unlock the full potential’ of seeds
Climate Friendly Products of the Week
Shrimps, scallops and crab cakes made from plants. Highlights:
Multiple recipes: from coconut shrimps to crab cakes!
Female founders: check her out!
Business Model: both consumer that wholesale
2/ Chunk
Whole cuts made from plants. Highlights:
Fermentation-based
Ready to be served in restaurants
Hard product to make!
Founded in 1987, Vancouver-based Big Mountain Foods is a brand that prides itself on food “made 100% with vegetables”. Highlights:
Wide range: veggie grounds, mushrooms bites, veggie patty, smokes tofu, and more!
Veggies first: BMF is one of those brands that bets how cleaner labels and ingredients you can pronounce.
Family-owned