🪱 Ynsect's Slimmed-Down Survival Plan

50+ plant cell culture active companies and the 138 y/o food brand filing for bankruptcy

July 04, 2025

They say you wait a while for a bus, then 2 come along at once.

Well, it turns out the same goes for job roles - except we have 3 open opportunities.

Here at Hack, we are now on the hunt for new teammates to help take our growth to the next level.

If your talents are building smart and strong relationships, fostering global and local communities (online and IRL) or creating streamlined systems that prioritise efficiency, head this way:

Know someone who would be a great fit? The job market is hard enough rn, so make their day and tag them here so they can apply.

This week in FoodTech:

🫘 US patent granted for Piggy Sooy™ tech
🍍 Del Monte Foods files for Chapter 11 bankruptcy
🇪🇺 €350M earmarked to support sustainable AgriFood

The Digest

Credit: CPI

📈  What’s up? In 2024, international banks cut funding for industrial animal agriculture by 46% to $1.23 billion, yet still invested five times more in factory farming than in sustainable livestock systems, which received just $244 million, according to a report by the Stop Financing Factory Farming coalition.

📉 What’s down? According to preliminary AgFunder data, agrifoodtech startups raised just $5.1 billion in H1 2025. This represents a 37% year-over-year drop and the sector’s lowest first-half funding total since 2015.

🍍 Del Monte Foods Corp. has filed for Chapter 11 bankruptcy and plans to pursue a court-supervised sale of its assets to support a financial turnaround. Opinion, did they miss these 4 warning signs?

💡 The European Commission launched a life sciences strategy aiming to make the EU a global leader by 2030, with €350 million earmarked to support sustainable food and agricultural innovations, particularly in fermentation technologies like biomass and precision fermentation.

🇩🇰 Denmark has established the Danish Plant-Based Diplomacy initiative, backed by major food and advocacy organisations, to promote similar plant-based policies across the EU for environmental, health, and economic benefits.

🗺️ A map of 50+ plant cell culture-active companies.

🎟️ HackSummit returns to NYC. Save the date (10-11th December) and lock in your pass today at the Super Early Bird rate.

New in Funding

Credit: Neutonic

🥤 UK-based Ferovinum, a FinTech startup focused on funding and supply chain solutions for the global drinks industry, secured €468 million from investors including Pollen Street Capital and global investment banks to support its international expansion across the US, EU, and Australia.

🇵🇱 Polish biotech startup Proteine Resources secured €9.5 million in blended financing from the European Innovation Council Accelerator, alongside support from SMOK Ventures, Bitspiration Booster VC, and participation in EIT Food and Labena Ventures programs, to scale its insect-based bioconversion platform that transforms mushroom waste into high-performance, sustainable proteins for pet nutrition.

🦟 French insect protein startup Ÿnsect secured €8.6 million in bridge funding from existing investors to remain operational through 2025, while laying off over half its workforce, pausing much of its Ÿnfarm facility, and testing a lower-cost farming model amid ongoing insolvency proceedings.

🤍 LA-based mayonnaise maker Ayoh Foods raised $4.5 million in a seed round led by Imaginary Ventures, with participation from Lerer Hippeau, Simple Food Ventures, Habitat Partners, and Great Circle Ventures, following its DTC launch and ahead of a nationwide Whole Foods rollout that includes a new miso mayo flavor.

🧃 UK-based nootropic drinks startup Neutonic raised $3.7 million in its first funding round - backed by investors including Codie Sanchez, Dan Martell, Mike Thurston, Jay Parker, JDI Investment, Kayla Itsines, and Alan Barratt - bringing its valuation to $20 million just 18 months after launching in November 2023.

🇮🇳 Indian biotech startup Loopworm raised $3.25 million in a pre-Series A funding round co-led by WaterBridge Ventures and ENRISSION INDIA CAPITAL, with previous support from Omnivore, to commercialise its sustainable, silkworm-based recombinant protein platform for use in diagnostics and animal vaccines.

🇬🇧 London-based Tonic Health secured £2.8 million in Series A funding round led by The SidebySide Partnership alongside investors Nigel Wray, Tom Singh, Brendon Street Investments, Rianta Capital, and Rubix Partners, to expand its clean-label supplement range, retail presence, and content-driven wellness platform

🧫 Israeli startup Algocell secured $2.8 million pre-seed funding, in a round led by Good Company VC with support from the Israel Innovation Authority and sector-specific angel investors. It will use the funds to advance its AI-powered Digital Twin platform for optimising bioprocesses in industries like cultivated meat, precision fermentation, biofuels, and cosmetics.

🔬 Opinion: 5 takeaways from analysing the cultivated meat funding landscape.

New in Food

Credit: Moolec Science

🫘 Molecular farming company Moolec Science has been granted a US patent for its Piggy Sooy™ technology, an engineered soybean that produces porcine hemeproteins.

🍣 German food ingredients specialist VAN HEES has entered a strategic partnership with cultivated fish pioneer BLUU Seafood to develop hybrid products combining plant-based ingredients with cell-based fish.

🍪 Planet A Foods has entered the Asian market through a partnership with Japan’s largest retailer, Aeon, which has launched a limited-edition Topvalu biscuit featuring ChoViva, the startup’s cocoa-free, sunflower seed-based chocolate alternative.

🥗 Israeli startup CarobWay launched CarobBiome, a natural, prebiotic fibre derived from upcycled carob fruit that supports gut and metabolic health without causing digestive discomfort.

Plant Based

Credit: Veganz Group

💸 Germany’s Veganz Group has established a new subsidiary, Mililk FoodTech, to ‘unlock hidden business value’ after a 34% sales drop last year, and has agreed to sell its OrbiFarm unit for €30 million as part of a broader restructuring and upcoming strategic investment plan.

🇵🇭 Two months after filing for bankruptcy, US-based Atlantic Natural Foods, maker of Loma Linda and Tuno, has signed an asset purchase agreement with Philippines-based Century Pacific Food, allowing the 135-year-old plant-based brand to continue operations amid rising costs and global supply chain challenges.

🏥 Four major hospitals in Lisbon will expand their plant-based meal offerings through a “groundbreaking” agreement between ProVeg Portugal and leading caterer ITAU, as part of the Sustainable Meals program, which includes staff training, awareness campaigns, and expert-developed recipes to promote healthier and more sustainable food choices.

🍄 US-based Prime Roots launched an upgraded range of mycelium-based deli meats, developed over seven years of R&D, to offer high-protein, nitrate-free, and environmentally sustainable alternatives to traditional cold cuts.

Next in AgTech

Credit: Lavie Bio

🌱 Flagship Pioneering launched Terrana Biosciences, a US-based agtech startup backed by an initial $50 million investment, to develop RNA-based crop protection and enhancement technologies that improve plant resilience, reduce reliance on chemical inputs, and help agriculture adapt to climate change.

🌾 Platform10, a global grower-led field trial network for speciality crop biologicals, signed a MOU with North America’s Biological Products Industry Alliance to enhance global collaboration, accelerate product testing, and boost grower adoption of biopesticides, biofertilisers, and biostimulants.

💡 Good read: When does corporate venture capital really work? Hadar Sutovsky at ICL shares shares the full journey from their investment in Lavie Bio to acquisition.

✏️ Infographic: Take a closer look at microplastics in crops.

💭 Opinion: What if regenerative agriculture doesn’t need a premium?

👀 Interesting: Could soil tech be the future of sustainable farming?

🚀 Applications close July 7 for the Accelerator Track in Biologics, Crop Innovation and Soil Health with Xpreneurs Incubator. Find out more here.

From the Community

Get hired in FoodTech

🇪🇸 FoodHack Barcelona are looking for new Ambassadors. Join in here.

👀 Good read: This new ProVeg report reveals that nutrient-rich, plant-based fish can help save ocean life.

👉 Apply now for the 6th edition of the Food Chain Accelerator. Over four months, you'll gain expert guidance, peer support, and access to funding opportunities to help you scale. Learn more and apply here.

🛒 Want to get listed in German retail? Join Oyster Bay Ventures in Berlin on July 22nd.

🚂 How it feels to run a FoodTech startup in 2025.

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Until next time - Stay Hungry