🍫 P-P-Put down the Penguin

The world of alternative dairy is in flux as this week we wrap up with a full cheese board:

• On one slice: Nutropy raised $8M for animal-free casein and building a “cheeseable milk” powder, set to launch in 2027.

• On another: Stockeld Dreamery is shutting down after six years amid slowing momentum for plant-based products and evaporating funds.

• And finally: Bel Group teamed up with Standing Ovation to turn whey waste into bio-identical casein at industrial scale.

The cheese world is being reshaped by new curd tech that stretches expectations, hurdles in plant-based adoption and legacy dairy companies reinventing their supply chain.

This week in FoodTech:

📈 547% surge for alt protein investment in Spain
🥄 $1.2 billion new plant in New York by Chobani
🍫 20% cocoa solids or less in ‘chocolate’ bars

The Digest

☝️ Coffee prices hit an all-time high meaning volatile and rising prices.

📈 What’s up? Research from GFI Europe reveals that investment in Spain’s alternative protein sector surged by 547% to €64.7 million in 2024, making it Europe’s second most attractive market after Denmark.

 🚀 Also up? Beyond Meat’s stock skyrocketed over 1,000% in a week, jumping from $0.50 to $7.69 amid meme stock frenzy, short-seller activity, and an expanded Walmart deal, despite ongoing sales declines, debt restructuring, and market exits.

📉 What’s down? A new patent analysis by Appleyard Lees shows innovation in plant-based and cultivated meat is slowing, with global patent filings down 20% and 10% respectively.

🤝 The APAC Society for Cellular Agriculture has partnered with Beyond Impact VC and Beyond Animal to boost investment in cellular agriculture and future food, launching the Beyond Biotech webinar series to connect investors with innovators driving sustainable food system transformation.

🕯️ The FoodTech community lost Irina Gerry, a dear friend and visionary, who was an inspiration for so many of us.

New in Funding

💸 Chobani raised $650 million to fund operations, expansion, and innovation, including a $1.2 billion new plant in New York, capable of processing 12 million lbs of milk per day, and a $500 million expansion of its Twin Falls, Idaho facility.

💶 Copenhagen-based Matr Foods raised €20 million Series A funding, in a round co-led by Novo Holdings and the Export and Investment Fund of Denmark, bringing its total funding to €40 million including EU-backed debt, to build a large-scale mycelium protein factory and scale production from 30 to 4,000 tonnes annually by 2027.

⛓️ UK climate tech company Mondra raised €11.8 million in a Series A funding round led by AlbionVC and Planet A Ventures, with participation from Swisscom, PeakBridge, Ponderosa Ventures, and Green Circle Foodtech Ventures. It will use the funds to expand its AI-powered supply chain intelligence platform for the food industry across Europe and enhance tools for emissions management, climate risk, and supply chain resilience.

🧀 French precision fermentation startup Nutropy secured €7 million in a funding round led by Big Pi Ventures and Zero Carbon Capital, with support from Bpifrance and other investors, to scale production of its casein-based “cheeseable milk” powder ahead of a planned 2027 launch.

🍓 Fragaria Fruits Pvt. Ltd. raised $2 million in a seed funding round led by WEH Ventures and Rainmatter, with participation from Spiral Ventures, Perpetual Capital, and angel investors, to scale its AI-driven indoor berry farming operations, expand to Bangalore, and launch its premium fruit brand Oh! Fruits in India.

🥦 British startup Upcycled Plant Power raised £1.5 million from Elbow Beach, bringing its total funding to £3.5 million to scale its AI-powered robotic harvesting and upcycling technology that converts broccoli waste into sustainable plant-protein and fibre ingredients.

🧫 Symrise has made a strategic equity investment in US biotech firm Cellibre to co-develop precision fermentation technologies for producing sustainable, high-value flavour and cosmetic ingredients.

New in Startups

🦆 French startup Gourmey has applied to Food Standards Australia New Zealand for approval to use its cultivated duck in products like foie gras and pâté, with the review expected to conclude by August 2026.

🧱 Precision fermentation companies Vivici and The EVERY Company have partnered with the Abu Dhabi Investment Office to explore building a 4-million-litre industrial-scale alternative protein facility in the UAE.

🌞 Solar Foods announced that its Factory 01 has reached full production capacity, enabling annual output of 160 tons of its air-based protein Solein, equivalent to the daily protein yield of a 300-cow dairy farm.

💦 New Zealand’s Nutrition from Water has partnered with SIG to develop algae-based protein beverages in aseptic packaging, aiming to deliver nutritious, shelf-stable products that address nutritional deficiencies in emerging markets.

🍄 UK-based Goodrays, one of the nation’s fastest-growing CBD brands, launched Re:Focus, its first non-CBD functional drink blending Lion’s Mane, magnesium, and electrolytes for cognitive and physical performance.

Plant Based

🧀 Vegan cheese startup, Stockeld Dreamery is shutting down after six years amid slowing momentum for plant-based products and evaporating funds. Founder and CEO, Sorosh Tavakoli shares the bittersweet reality.

🧑‍🍳 US plant-based pioneer Beyond Meat launched the Beyond Test Kitchen, a direct-to-consumer platform offering limited-release product “drops” like its new clean-label Beyond Ground and mycelium-based steak, as part of its strategy to boost sales and reduce debt.

🥛 Laird Superfood, formerly a fully plant-based brand, plans to introduce dairy and potentially other animal-based products to reach a broader consumer base.

Big Food

🍫 Big chocolate is being forced to change its name - because they contain less than 20% cocoa. Adam Bastock asks: why is this not being linked to climate change?

🧀 French dairy giant Bel Group and precision fermentation startup Standing Ovation have achieved a world first by producing recombinant casein from upcycled whey waste at industrial scale.

🌾 PepsiCo has partnered with Soil Capital to advance regenerative agriculture across 35,000 acres of rapeseed farmland in the UK, France, and Belgium, providing farmers with digital tools, financial incentives, and tailored support to improve soil health, reduce emissions, and build a more resilient European supply chain for brands like Lay’s and Walkers.

🤝 Major US food, agriculture, and consumer groups - including PepsiCo, Nestlé, General Mills, and the American Farm Bureau Federation - have formed Americans for Ingredient Transparency, a coalition advocating for federal legislation to create a single, science-based national standard for ingredient transparency and replace the growing patchwork of state-level regulations.

💡 Opinion: Danone’s CEO describes why the food industry is at a tipping point.

From the Community

Get a job in FoodTech

• Buhler (Switzerland) are hiring a Head of Innovation and Engineering

• Chunk Foods (USA) is looking for a VP of Marketing 

• Verley (France) is recruiting a Chief Operating Officer

• June Sunshine Brands (USA) are hiring an Innovation Manager

👋 Sign up for the next FoodHack Meetups in Lisbon (Oct 23rd), Barcelona (Nov 4th), Boston (Oct 28th), Vienna (Nov 6th).

🇯🇵 NextKitchen, Japan’s leading open innovation program for foodtech and circular economy, is calling for global startups and creators to join its 2026 program in Kobe, Japan. Apply now

 🍓 Would you go for an all-you-can-eat strawberry buffet?

📈 Where are the next billion mouths and how will they eat?

🌱 Interesting: Turning crops into living sensor networks.

🌭 Coincidence? Is THIS flattery or laziness by McDonald’s?

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Until next time - Stay Hungry