🧀 Fromage Fermentation Feat

What do Newland Syndicate, Generation-Re, Solvable Syndicate and Glass Wall Syndicate all have in common?

They’re all Angel Syndicates focused on backing the next rising stars of AgriFoodTech.

And they’re part of a much bigger nexus of Climate Angel Syndicates powered by 1,000s of angel investors writing checks for up-and-coming climate breakthroughs.

You can catch the full list here. And if you’re thinking about becoming an angel investor, here’s the jumpstart you need to get up to speed.

This week in FoodTech:
🥩 €17.4m for 3D printed meat
🌱 20 latest AgriFood funding rounds
🌰 3 countries selling plant-based Nutella

The Digest

📈 What’s up? A new report from the Atlantic Council places Brazil ‘at the top of the list’ of countries that could meet the rising global demand for food.

📉 What’s down? Data from Purdue University reveals that around 71% of consumers are unfamiliar with regenerative agriculture, and those who are aware may be unwilling to pay higher food prices to support it.

📉 Also down. More cultivated meat bans in the works: Nebraska governor Jim Pillen has been at it, as has Illinois House Representative Chris Miller.

🥫 The USDA is targeting greenwashing with updated labelling guidelines which ensure that claims like ‘climate-friendly’ and ‘humanely-raised’ on meat labels are backed up with third-party verification.

🇹🇭 Thailand’s Ministry of Commerce has developed a roadmap to transform the country into a hub for the global plant-based market, as it aims to become a world leader in producing high-protein plant-based ingredients.

💰 The Bezos Earth Fund announced the Bezos Centre for Sustainable Protein at the National University of Singapore. Backed by a $30 million grant, the centre marks its first initiative of this kind in Asia.

👀 Research published in Nature Microbiology explores the potential of filamentous fungus Neurospora intermedia to transform food and agricultural by-products into a nutritious and sustainable food source.

FoodTech Fundraising

🧀 Germany’s Formo secured $61 million Series B funding for its animal-free cheeses made via microbial fermentation, which it just launched into more than 2,000 Rewe, Billa and Metro stores across the country.

🥩 Barcelona-based Novameat closed its oversubscribed Series A funding round with €17.4 million. It will use the funds to further expand its 3D-printed product range, which includes a new, improved shredded plant-based beef.

🌾 US biotech Switch Bioworks raised $17 million seed funding for its low-cost and sustainable fertilisers, made by engineering symbiotic, nitrogen-fixing microbes that live on plant roots.

👨‍🌾 Belgian startup Soil Capital secured €15 million, in a Series B funding round led by Trill Impact Ventures, to help farmers improve soil health with its agronomic support for regenerative agriculture practices.

🪰 Scottish agritech Solasta Bio raised $14 million to further develop its “nature-inspired”, peptide-based insecticide, designed to meet industry efficacy standards whilst being more environmentally friendly than conventional options.

🏂 Catch up on all 20 funding rounds totalling $150+ million, including just out-of-stealth algae photobioreactors, an upcycled food ingredient tech platform and pre-alcohol probiotic drinks.

Startup Milestones

☀️ Finnish startup Solar Foods has obtained self-affirmed GRAS status in the US for its fermentation-derived Solein air protein, bringing it a step closer to commercialisation in the country.

✅ Denmark’s 21st.BIO also earned self-affirmed GRAS status in the US for its animal-free beta-lactoglobulin, made via precision fermentation, which has already garnered “significant interest” from producers due to its high nutritional quality.

🤖 US-based Grain Weevil is making grain bins less hazardous with its robots, which replace the need for farmers to enter their bins to break up clumps of grain.

👨‍⚖️ Impossible Foods has settled its legal dispute with Motif FoodWorks and is set to take over its heme business. Motif FoodWorks announced that it is shutting down its operations.

Plant Based

🧇 Dutch startup Stroop Club debuted what it describes as Europe’s first vegan, organic, and palm oil-free stroopwafel.

🤝 German startup Nosh.bio joined forces with Zur Mühlen Group, a subsidiary of meat giant Tönnies Group, to debut its fermentation-derived Koji Chunks, which are made from just one ingredient.

🍗 Beyond Meat unveiled plans to launch a mycoprotein-based whole-cut chicken fillet, as it works to respond to consumer demand for clean-label alternatives.

Big Food

💸 Amazon has expanded its private label grocery range with the launch of a new, “no frills” brand called Amazon Saver.

🌰 Ferrero is launching its long-awaited Nutella Plant-Based into supermarkets and hypermarkets in Italy, France, and Belgium.

🤔 Gil Horsky of FLORA Ventures highlights the latest trend amongst big food to focus on profit > purpose. Have your say here.

From the Community

Get a new job:

• Grey Silo Ventures are hiring an Investment Intern

• ProVeg are recruiting for multiple roles including Head of Finance, Head of Communications and Community Manager

• Impossible Foods are looking for a Corporate Development Manager

👋 Sign up and join us at the next FoodHack Meetup in 🇺🇸 New York City.

🌎🥊 12 rounds. 3 days. 1 fight for the planet. Join Round 9 of the Climate Ring: How Will We Eat in 100 Years? Taking place during Climate Week NYC, Swissnex presents a pop-up boxing arena for the ‘fight of the century’ - the one for planet Earth, on Sep 27, 10:45am - 12:30pm.

🔍 Are we really at the top of the food chain, or is this feeling of invincibility an illusion?

🐓 What’s the coolest thing you could do with an empty chicken farm? Hint it could this.

🚀 Startups developing innovative ingredients, foodtech, or digital solutions can pitch for free at Fi Europe in Frankfurt this November. Don’t miss your chance to win high-value prizes and connect with top industry players. Apply by EOD today.

🌟 Submit your application for a chance to be ranked among the best in FoodTech in the 2024 FoodTech 500 by Forward Fooding.

💦 Are you a FoodTech startup adding layers of AI to your product?

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Until next time - Stay Hungry