🏖️ Sending Cows on Vacation

It’s been a hot minute since we hosted the HackSummit, a powerful space of hope for the who’s who of Food and Climate.

Lausanne brought together the right people, conversations and bold thinking the climate movement needs. This 2 min video sums it up better than I can, with highlights including:

• Kokomodo’s first-of-a-kind Cacao Ceremony 

• A sustainable menu to taste the Future of Food 

• Future Biome crowned winner of the FoodTech World Cup

• DSM x Meala’s fireside chat ahead of Vertis PB Pea launch

• Meeting some of the Ambassadors behind FoodHack Meetups

Following a couple of weeks to rest and recover, it means we’re back today with a bumper edition of AgriFood headlines and milestones. Ready for it? Scroll on down

This week in FoodTech:

🍣 Wildtype’s FDA approval is making waves
🍚 100% of US rice samples contain arsenic
🍫 $75 million Series A for protein bar startup

The Digest

📈 What’s up? New data shows that extreme weather, rising temperatures, and climate-related pests threaten banana production in Latin America and the Caribbean, with up to 60% of prime growing areas at risk by 2080.

🍚 A new report by Healthy Babies Bright Futures found arsenic in 100% of 145 US rice samples, with over a quarter exceeding the FDA's safety limit for infant rice cereal.

📉 What’s down? Venture capital investment in restaurant tech plummeted to $1.3 billion in 2024, down from $14.5 billion in 2018, as the sector matures and investor interest shifts, according to data from PitchBook.

👎 Plant-based restaurant chain Planta and its affiliates have filed for Chapter 11 bankruptcy to restructure operations and cut costs amid declining US dining-out spending. Austrian startup Arkeon Biotechnologies has filed for insolvency. And same for Danish biotech startup FEAST Ingredients

🐽 Scientists at the University of Edinburgh have developed a stable pig fat cell line, dubbed FaTTy, that could revolutionise cultivated meat production by enabling scalable, non-GMO pork fat manufacturing—even for use in space.

🗝️ Big Idea Ventures acquired the assets of digital food tech investment platform Vevolution to strengthen its global support for startups and investors in future food, climate tech, and sustainable innovation sectors.

🔮 Is this the dinner plate of 2050? Green Queen shares what two experts predict the food of the future might look like – including clothes that grow crops and carbon-sucking foods.

🍞 Good read: How are Europe’s top 50 retailers responding to the Challenges of Food Waste?

New in Fundraising

🐶 Fresh pet food startup Butternut Box raised over €75 million in debt financing from Liquidity to support the development of a second manufacturing facility in Poland, as it expands its mission to deliver freshly prepared, human-quality meals to pets across Europe.

🍫 Protein bar brand David secured $75 million in a Series A funding round led by Greenoaks to fund its rapid growth and acquire Epogee, maker of low-calorie plant-based fat alternative EPG, thus securing a key ingredient for its high-protein, low-fat products. Update: Why they are being sued over ‘bait & switch’ scheme.

💰Nordic Foodtech VC announced the first close of its second fund at €40 million. It will use the funds to back early-stage B2B agrifoodtech startups across Europe, focusing on scalable, commercially viable technologies, especially in precision fermentation and biomanufacturing. 5 minute read with their Investment Director.

🦟 Finnish biotech firm Volare secured €26 million to build its Volare 01 insect protein plant and scale its zero-waste technology that upcycles food industry byproducts into sustainable protein, oil, and fertiliser.

🍄 Oslo-based NoMy raised €1.25 million, including backing from Nippon Beet Sugar, to scale its sustainable mycoprotein fermentation technology, which transforms food industry side streams into high-value protein ingredients.

➕ See all 29 latest fundraises totalling $350+ million including non-toxic crop protection solutions and repurposing a former Lego factory to scale production of its oat and mycelium protein.

New in Startups

🍣 San Francisco startup Wildtype has become the first company to receive FDA approval to sell cultivated seafood in the US, with its sushi-grade salmon now served at Portland’s Kann restaurant.

🍫 California Cultured has achieved a major industry milestone by transitioning to large-scale biomanufacturing of cell-based cocoa in partnership with Berkeley-based biomanufacturing firm Pow.Bio, validating the commercial viability of cellular agriculture for chocolate production.

📝 Singapore-based TurtleTree has become the first company to receive a ‘no questions’ letter from the FDA for precision-fermented lactoferrin, marking a key regulatory milestone for its animal-free protein and the broader precision fermentation industry.

🧫 Dutch cultivated meat pioneer Mosa Meat filed for regulatory approval to sell its cultivated beef fat in the UK, marking a key step toward commercialisation as part of the country’s cultivated meat ‘sandbox’ programme.

🍯 FoodYoung Labs acquired plant-based honey pioneer MeliBio, aiming to scale its Mellody brand globally with integrated R&D and manufacturing now based in Switzerland.

🌼 New Zealand’s Daisy Lab has achieved a breakthrough in producing bovine lactoferrin via precision fermentation, developing a yeast-based system that far surpasses natural dairy yields.

💸 A techno-economic analysis has found that French cultivated meat startup Gourmey can achieve production costs of $3.43 per pound using its bioreactor system, marking significant progress toward price-competitive cultured meat.

🏭 Liberation Labs has rebranded to Liberation Bioindustries to reflect its shift to commercial-scale biomanufacturing, with its first large precision fermentation facility set to launch in Indiana by early 2026.

🔬 UK-based Meatly announced major technological breakthroughs—including a custom bioreactor and protein-free culture medium—that dramatically reduce its cultivated meat production costs and bring the company closer to price parity with conventional chicken.

Plant Based

🏖️ Italian plant-based cheese brand Dreamfarm launched a playful marketing campaign that involved “sending cows on vacation” to promote its dairy-free cheeses.

🫛 Meala FoodTech joined forces with DSM-Firmenich to launch Vertis PB Pea, a patented, multifunctional pea protein that enhances nutrition and clean-label appeal in meat alternatives by replacing synthetic binders with a single, high-performance ingredient.

🤝 Danone has agreed to acquire a majority stake in US plant-based nutrition brand Kate Farms, to expand its specialised nutrition portfolio and reach more consumers with organic, medically tailored products.

🥘 Chobani acquired plant-based frozen meal maker Daily Harvest, expanding its portfolio into the ready-to-make meal category.

🐟 EFISHient Protein launched a plant-based grouper fillet prototype designed for commercial use, marking a key milestone as it advances toward developing a cultivated version using real fish cells.

🇵🇭 Indonesian plant-based meat brand Green Rebel Foods launched two new products into 7-Eleven stores across the Philippines.

Big Food

🥤 PepsiCo acquired functional soda brand Poppi for $1.95 billion, strengthening its better-for-you beverage portfolio with a fast-growing, Gen Z–appreciated prebiotic soda.

💊 Nestlé announced a major R&D restructure to boost agility and innovation, with a new focus on biotechnology and deep tech to develop advanced nutritional solutions in areas like maternal health, longevity, and precision fermentation.

🍫 Ardent Mills debuted Cocoa Replace, a clean-label, wheat-based ingredient designed to substitute up to 25% of cocoa powder in baked goods to support supply chain resilience.

🌮 Marks & Spencer is trialling a first-to-market recyclable paper fibre ready meal tray, suitable for both oven and microwave use, to help reduce plastic and enhance convenience.

🥜 Ferrero is launching Nutella Peanut, blending cocoa, hazelnuts, and roasted peanuts to strengthen its foothold in the US market, marking its first major innovation in 61 years.

🧀 Bel Group announced plans to discontinue its plant-based cheese brand Nurishh by the end of the year due to ongoing profitability challenges, though the company says plant-based remains a core strategic focus.

From the Community

Get hired in FoodTech

• Centre for Feed Innovation (remote) is hiring for 2 roles Communications and Corporate Engagement Manager

• EarthKind Foods (India) are looking for a Head of R&D

• Givaudan (UAE) are recruiting a Regional Product Manager

👉 Apply today: The Climate Feed Fellowship by Green Queen Media, the first-ever program designed to empower the next generation of journalists to spotlight the critical link between food and climate. Submit your application to join the 12 week program.

👋 Join us at a FoodHack Meetup in Lisbon on 17th June. Sign up here.

🎧 Good listen: How to scale a plant-based seafood startup in the hardest fundraising market in a decade.

🤫 Good read: The quiet revolution happening in corporate venture capital.

🔍 The City of Amsterdam is taking purpose-led food Dutch start-ups over to the UK for Bread & Jam in July. Bread is Jam is a great entry point to the UK for Dutch FoodTech companies targeting specialty retail or food service. There are 3 spots left, find out more and apply here.

Food Miles x Climate

Has a jar of Nutella travelled further than you this year?

We’d love to hear from you. What did you think of today’s bumper edition?

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Until next time - Stay Hungry