Food Venture Financing News - Weekly Issue No 198

Food Venture Financing Trends

• Onego Bio, a Finnish precision fermentation startup, raised $15.2 million of new funding from the European Innovation Council (EIC) Accelerator program and additional Series A investors. The company produces ovalbumin, a protein in egg white, from yeast strains. The company will use the proceeds to further expand its fermentation operations.
• The VERY Food Co., a French foodtech startup, closed an €850,000 financing. The company is developing functional non-animal food ingredients to replace egg products and dairy ingredients. The company will use the proceeds to move toward commercializing its products.
• Cartken, a California-based robotics delivery startup, raised $10 million in funding. The company has been able to scale its sidewalk delivery robotics business to profitability as it deploys low-cost cameras and sensors and cameras instead of LIDAR. The company will use the proceeds to, among other things, further develop its LIDAR-free technology.

CPG Corporate Venture and Private Equity Fund

This week's featured corporate venture and private equity fund is Ankur Capital.

• Ankur Capital is an India-based early-stage venture capital fund that focuses on sectors such as agritech, food, healthcare, financial, logistics, retail, and education, among others.
• The size of Ankur's investments range from $500K to $5 million.
• As an Ankur portfolio company, startups get access to Ankur's network of operational experts, who can help founders grow their businesses.
• Some of the portfolio companies include:
  • Krishify
  • Vegrow
  • Captain Fresh
  • String Bio
  • Cropin

Links to Relevant Content and Events

ARTICLES

• Roquette, Bonumose Partner to Boost Tagatose Production
• Cultivating Success – Will Meatly's Pet-Food Strategy Be a Winner?
• VC Firm Cultivation Capital Introduces $20 Million Agtech Fund Amid Dealflow Optimism
• Digestiva Closes $18.4 million Series A Financing
• DSM-Firmenich to Sell MEG-3 Fish Oil Business to KD Pharma Group
• Onego Bio Nets $15.2 Million to Advance Animal-Free Egg Protein Production
• Tate & Lyle Acquires CP Kelco for $1.8 Billion in Strategic Expansion for Sugar Reduction Ingredients and Stabilisers

UPCOMING EVENTS

Naturally New England
Rise & Thrive: Why You Need a Mission and Resilience to Succeed

Tuesday, July 23 | 8:30 a.m. – 10:00 a.m. ET
Location: Stonyfield Farm, 10 Burton Dr., Londonderry, NH

Join Naturally Boulder for a morning speakeasy and intimate networking with Gary Hirshberg, co-founder of Stonyfield Organic. Take a deep dive into mission and resilience in entrepreneurship. With only 40 tickets available, reserving your spot early is recommended.

REGISTER

Naturally New York
Restaurant + Retail

Thursday, July 25 | 6:00 p.m. – 9:00 p.m. ET
Location: Anchin, 3 Times Square, New York, NY

Join Naturally New York for an insightful Restaurant + Retail panel discussion featuring esteemed leaders who have successfully transitioned from the restaurant industry to launching their own CPG companies. Our panel includes Blythe Kaplowitz, Vice President of Tacombi, Kiernan Laughlin, General Manager of Deep Indian Kitchen, Marguerite Mariscal, CEO of Momofuku, and Teepoo Riaz, Of Counsel to Helbraun Levey. They will delve into the motivations behind launching CPG products, the impact of CPG on their brand and restaurant business, and their goals for the CPG venture. Gain valuable insights into their journey, challenges faced, and lessons learned.

Speakers:

• Blythe Kaplowitz, Vice President & General Manager at Tacombi & Vista Hermosa
• Kiernan Laughlin, General Manager at Deep Indian Kitchen
• Marguerite Zabar Mariscal, CEO of Momofuku
• Teepoo Riaz, Of Counsel at Helbraun & Levey LLP

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Naturally Bay Area
Naturally Bay Area Community Service Meetup

Friday, July 26 | 8:00 a.m. – 10:30 a.m. PT
Location: Marin Food Bank, 1050 Marin Street, San Francisco, CA

This is a free event, open to all, and a great opportunity to:

• Meet other members from the local natural products industry
• Expand your network and build new relationships
• Learn more about Naturally Bay Area and our mission
• Do good by giving your time to the SF-Marin Food Bank.

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Naturally Minnesota
July Community Day & Founders Forum

Wednesday, July 31 | 11:00 a.m. – 1:30 p.m. CT
Location: FINNOVATION Lab, Fifth Avenue South 817, Minneapolis, MN

TikTok Shop Strategies for Food & CPG Founders

Join Naturally Minnesota for an exciting and informative Community Day & Founders Forum at Finnovation Lab, designed specifically for founders in the food and consumer packaged goods (CPG) sectors.

This educational and networking session will dive deep into the world of TikTok Shop, the latest platform revolutionizing e-commerce and marketing.

Speakers:

• Cameron Gould-Saltman, Head of Food and Bev at TikTok Shop
• Ayub (Yubi) Hassan, Founder of BlueHorn Tea

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Naturally Boulder
Boulder Farmers Market Networking Collision

Wednesday, July 31 | 5:00 p.m. – 8:00 p.m. MT
Location: Boulder Farmers Market, 13th St., Boulder, CO

Naturally Boulder and the Boulder Farmers Market are joining up for a fun and educational event at the market on Wednesday, July 31st. The Boulder Farmers Market team will be offering tours and providing more information on how to participate as a vendor.

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