Nepra Foods

Nepra Foods is a food and ingredient company producing allergen-free flours intended to give food manufacturers access to nutritious food. Their breadth, depth, insights, facilities, and logistical expertise give them unparalleled capabilities to meet needs for food, beverages, health and wellness, and more.  The company's food products provide allergen-free ingredient food and other gluten-free protein ingredients to meet any taste and solve any kind of nutritional challenges faced, enabling the food industry to meet the nutritional needs in food, beverages, health, and wellness.

Headquartered in Colorado, Nepra Foods is a multi-category market leader in allergen-free and plant-based food ingredients and consumer products. The company is working toward producing foods free from allergens, animal products, and gluten without compromising flavor, texture, or nutrition. Its portfolio includes textured hemp proteins (THP), egg replacement powder, and specialty ingredients, amongst others, available through B2B and D2C channels under its CPG brands. Nepra products are available at major supermarket chains like Walmart, Costco, Target, and Safeway.

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

Nepra Foods is a vertically integrated plant-based food and ingredients company specializing in textured hemp protein (THP). Its portfolio includes dairy alternatives, egg replacement powder, bake mixes, ready meals, and specialty ingredients that are available through B2B and D2C channels under its CPG brands.

A booming food and beverage segment with a history as rich and varied as its present-day product offerings.

Plant-based Dairy & Egg

Headquartered in Colorado, Nepra Foods is a multi-category market leader in allergen-free and plant-based food ingredients and consumer products. The company is working toward producing foods free from allergens, animal products, and gluten without compromising flavor, texture, or nutrition. Its portfolio includes dairy alternatives, egg replacement powder, bake mixes, ready meals, and specialty ingredients that are available through B2B and D2C channels under its CPG brands. Nepra products are available at major supermarket chains like Walmart, Costco, Target, and Safeway.

Empowering sustainable food innovation through food engineering tech

Novel Foods

Headquartered in Colorado, Nepra Foods is a multi-category market leader in allergen-free and plant-based food ingredients and consumer products. The company is working toward producing foods free from allergens, animal products, and gluten without compromising flavor, texture, or nutrition. Its portfolio includes textured hemp proteins (THP), egg replacement powder, and specialty ingredients, amongst others, available through B2B and D2C channels under its CPG brands. Nepra products are available at major supermarket chains like Walmart, Costco, Target, and Safeway.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/17281">March 2023 </a>, Nepra Foods announced its partnership with global agribusiness company Scoular to manufacture and distribute plant-based ingredients. The agreement entails the partners using Nepra’s R&amp;D for new product development and specialty ingredients from both companies. Scoular has also agreed to offer Nepra products through its global supply chain network.Funding and financialsIn September 2021, the company was listed on the Canadian Stock Exchange (ticker: NPRA) and raised CAD 7.5 million (~USD 5.6 million) in an oversubscribed IPO. However, in October 2023, the British Columbia Securities Commission issued a cease trade order to the company for not filing its annual audited financial statements.In <a href="https://sp-edge.com/updates/28827">April 2024</a>, the company secured a loan of USD 950,000 from William Hogan at 6% per annum. The new funds were to support the growth of Nepra Ltd. and aid in increasing its enterprise value.

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 LIVEKINDLY Collective (formerly known as Food United) produces plant-based meat alternatives through its brands LikeMeat, Fry Family, and Oumph!. The group offers a wide range of plant-based alternatives to burgers, sausages, nuggets, pulled BBQ chicken, and kebabs, made primarily of soy protein and other plant-based ingredients. In 
 <a href="https://sp-edge.com/updates/3657">
 June 2021
 </a>
 , the company launched two flagship plant-based brands in China &ndash; Giggling Pig (Ge Ji Zhu) and Happy Chicken (Ha Pi Ji); the first brands to be created in-house by LIVEKINDLY Collective, which encompasses seven plant-based products including dumplings, mushroom-based dishes and a seasoned minced dish. In 
 <a href="https://sp-edge.com/updates/19881">
 July 2023
 </a>
 , the company launched the Oumph! Smash Burger. The product was targeted at food service and launched at over 80 Brodernas (a Swedish restaurant group) locations, with additional locations and retail expansion to follow.
 
 
 In June 2021, LIVEKINDLY Collective entered into an agreement to acquire The Dutch Weed Burger, a plant-based meat company based in the Netherlands. This acquisition was expected to expand LIVEKINDLY&rsquo;s brand portfolio and extend the company&rsquo;s international footprint into more than 40 countries including the US, Canada, Asia, Europe, and the UK.&nbsp;
 
 
 In 
 <a href="https://sp-edge.com/updates/20574">
 August 2023
 </a>
 , the company acquired Alpha Foods, a California-based plant-based frozen food producer. The acquisition supported Livekindly Collective&rsquo;s plans to expand its presence in the US market and venture into the ready-to-eat breakfast and burrito snacking category. Moreover, it was expected to strengthen Livekindly&rsquo;s position in the global plant-based market and enable further growth and innovation within the industry.
 
 
 Key customers and partnerships
 
 
 In February 2021, the group formed a partnership with the Dutch plant-based food company Rival Foods to develop whole-cut plant-based chicken products. Also in February, LIVEKINDLY Collective formed two joint ventures with US plant-based food company Puris Foods (undisclosed terms) to invest in regenerative agriculture and cost-effective plant-based food production. The companies claim this joint venture&rsquo;s sustainability approach will result in a long-term achievement of cost parity with conventional animal meat.&nbsp;
 
 
 Funding and financials
 
 
 In its latest funding round in March 2021, the startup raised USD 200 million led by Rise Fund with participation from existing investors Rabo Corporate Investments and S2G Ventures. The funds were earmarked for international expansions, new acquisitions and partnerships, and new product investments.
 
 
 
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LIVEKINDLY

NotCo is a Chilean startup that develops plant-based meat and dairy alternatives. Leveraging a patented AI algorithm named Giuseppe, NotCo develops plant-based products that match the taste, texture, and mouthfeel of animal products by studying infinite combinations of plants and using internal feedback from trained chefs.NotCo’s product portfolio includes NotChicken (patties, nuggets, and tenders) and NotBurger, which are available for retail and foodservice in the US, Canada, Brazil, Argentina, Chile, Mexico, Peru, <a href="https://sp-edge.com/updates/10672">Australia</a>, and Colombia.In <a href="https://sp-edge.com/updates/28580">April 2024</a>, NotCo developed a plant-based turtle soup called "NotTurtle Soup" in partnership with Chef Diego Oka. NotTurtle Soup claims to mimic the flavor and texture of authentic turtle soup to reduce the consumption of endangered green sea turtles.Key customers and partnershipsIn February 2022, NotCo<a href="https://sp-edge.com/updates/8673"> teamed up </a>with Kraft-Heinz to form a joint venture (JV) to leverage the strengths of both companies and develop a line of plant-based food. In <a href="https://sp-edge.com/updates/27345">March 2024</a>, the JV announced plans to launch NotHotDog and NotSausages in partnership with Oscar Mayer, a subsidiary of Kraft Heinz.In <a href="https://sp-edge.com/updates/23368">November 2023</a>, the company partnered with Yellowbird Sauce, a hot sauce producer, to launch NotChicken Spicy Patties at select Whole Foods Market locations across the US.Funding and financialsIn its most recent funding round in <a href="https://sp-edge.com/updates/15270">December 2022</a>, the company raised USD 70 million in a Series D1 funding at a valuation of USD 1.5 billion led by Princeville Capital, with participation from existing and new investors. The funding was earmarked for developing a B2B platform that will allow other producers to access the company’s patented AI platform Giuseppe. Further, it is expected to help with expansion and preparation before the company’s planned IPO in 2025.

NotCo

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 Improved Nature produces plant-based chicken alternatives from soy protein, replicating the flavor and texture of real chicken. The company sells its plant-based meat products under Nature's PRIME and Nature&rsquo;s Meat brands, which cover a large line of refrigerated and frozen products like slices, nuggets, filets, tenders, and more.
 
 
 Improved Nature's reliance on soy protein makes it more similar to the original wave of plant-based meat producers which relied almost exclusively on soy to produce products for vegetarians, with less interest in mimicking the texture, taste, and mouthfeel of real meat products.
 
 
 Key customers and partnerships
 
 
 I
 n 
 <a href="https://sp-edge.com/updates/23085">
 October 2023
 </a>
 , the company partnered with RMS Foods, a US food manufacturer, to provide soy protein-based clean-label alternatives to private-label brands at a value price. In addition, the company launched a new line of heat-and-serve meals, including options such as plant-based sausage patties, nuggets, and beefless Korean bulgogi.&nbsp;
 
 
 
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Improved Nature

Impossible Foods produces plant-based meat products using plant protein and high-moisture extrusion cooking techniques to transform soy protein into a texture similar to that of meat. Its portfolio includes plant-based beef, sausage, chicken, pork, meatballs, and ready meals.The company has added several products to its portfolio since launching, including <a href="https://sp-edge.com/updates/12539">Impossible Chicken Patty</a>, a new range of <a href="https://sp-edge.com/updates/12760">frozen meals</a>, new <a href="https://sp-edge.com/updates/16551">plant-based chicken products</a> (Impossible Spicy Chicken Nuggets, Impossible Spicy Chicken Patties, and Impossible Chicken Tenders), the <a href="https://sp-edge.com/updates/19591">Impossible Indulgent Burger</a>, and the <a href="https://sp-edge.com/updates/24643">Impossible Beef Hot Dog</a>.In July 2019, Impossible Foods gained FDA approval to use “Heme”, allowing the company to sell uncooked plant-based burgers at retail outlets as opposed to only selling cooked burgers at foodservice outlets. Further, in<a href="https://sp-edge.com/updates/23732"> November 2023</a>, the company<a href="https://sp-edge.com/updates/23732"> received</a> the heart-check certification from the American Heart Association (AHA) for its Impossible Beef Lite.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/8934">March 2022</a>, Kroger announced a co-branding partnership with Impossible Foods to develop meat alternatives for Kroger’s private label business, thereby expanding its customer base to include more price sensitive customers. Impossible Foods <a href="https://sp-edge.com/updates/13931">partnered</a> with Dominos Pizza Australia in October 2022 to launch a new range of plant-based pizzas featuring Impossible Beef. In <a href="https://sp-edge.com/updates/22210">September 2023</a>, the company partnered with the American restaurant chain International House of Pancakes (IHOP) to introduce plant-based sausage patties and burgers to IHOP's menus nationwide. Further, in <a href="https://sp-edge.com/updates/26436">February 2024</a>, Impossible Foods inked a partnership with the US Army Central to serve plant-based meats at their dining facilities overseas.Funding and financialsIn its latest funding round in November 2021, the startup raised USD 500 million in a venture funding round led by Mirae Asset Global Investments, with participation from returning investors. The latest funding is expected to fuel continued retail expansion, growth across its supply chain, product portfolio, technology platforms, and international expansion.

Impossible Foods

Planted Foods is a plant-based spinoff of ETH Zurich- a public research university in Switzerland. Its portfolio includes Planted brand chicken, pulled, kebab, bratwurst, schnitzel, <a href="https://sp-edge.com/updates/22375">duck</a>, and <a href="https://sp-edge.com/updates/25317">ham</a>.In <a href="https://sp-edge.com/updates/27493">March 2024</a>, the company launched a new fermented steak alternative developed using its proprietary whole-muscle platform. This platform uses a proprietary fermentation process to develop clean-label alternatives with improved taste and texture. Planted Foods intends to use this platform to expand its product range with more product concepts later. Further, in <a href="https://sp-edge.com/updates/28147">April 2024</a>, Planted launched vegan Chicken Tikka Skewers in the UK.As of December 2023, Planted products were available at 6,100 restaurants and 8,700 retail outlets across Switzerland, Germany, Austria, France, Italy, the UK, and Benelux, with plans to expand into the US and UAE later.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/19434">June 2023</a>, the company partnered with French agrifood company Fleury Michon to launch the Eminces Vegetaux range into retail in France. The partnership leveraged Planted's expertise in plant-based foods and Fleury Michon's artisanal marinades, reach, and reputation to offer plant-based alternatives for Fleury Michon’s established consumer base.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates">September 2022</a>, the company raised ~USD 72 million (CHF 70 million) in Series B funding led by L Catterton, with participation from Vorwerk Ventures, Movendo, and Yann Summer. The funds were earmarked for launching a new whole-cut product range, further expansion into Europe, and increasing production capacity.

Planted Foods

Provides sustainable alternatives to animal meat

Suppliers of plant ingredients such as legume, mycelia and other proteins for the production of plant-based meat, fish, poultry and pork products; and suppliers of technology related to production of plant-based meat.

Nepra Foods is a vertically integrated plant-based food and ingredients company specializing in textured hemp protein (THP). Its portfolio includes dairy alternatives, egg replacement powder, bake mixes, ready meals, and specialty ingredients that are available through B2B and D2C channels under its CPG brands.In <a href="https://sp-edge.com/updates/8299">February 2022</a>, Nepra Foods invested USD 550,000 to expand its strategic partnership with a major Indian manufacturer, allowing the company to expand its capacity. This investment also enabled Nepra to expand the R&amp;D efforts of its proprietary plant-based egg replacement powder, which began commercial production and in-plant testing in <a href="https://sp-edge.com/updates/14854">November 2022</a>.Key PartnershipsIn <a href="https://sp-edge.com/updates/16248">February 2023</a>, Nepra Foods partnered with a national bread producer–marking its first commercial partnership–to use the company’s vegan egg substitute in bread production.In <a href="https://sp-edge.com/updates/17281">March 2023</a>, Nepra Foods announced its partnership with global agribusiness company Scoular to manufacture and distribute plant-based ingredients. The agreement entails the partners using Nepra’s R&amp;D for new product development and specialty ingredients from both companies. Scoular has also agreed to offer Nepra products through its global supply chain network.Funding and FinancialsIn September 2021, the company was listed on the Canadian Stock Exchange (ticker: NPRA) and raised CAD 7.5 million (~USD 5.6 million) in an oversubscribed IPO. However, in October 2023, the British Columbia Securities Commission issued a cease trade order to the company for not filing its annual audited financial statements.&nbsp;In <a href="https://sp-edge.com/updates/28828">April 2024</a>, the company secured a loan of USD 950,000 from William Hogan at 6% per annum. The new funds were to support the growth of Nepra Ltd. and aid in increasing its enterprise value.

Eat JUST (Hampton Creek prior to 2018) is a food technology company founded in 2011 that produces plant-based alternatives such as JUST Mayo (made from yellow peas), JUST Egg (made from mung beans and legumes), and GOOD Chicken (cell-cultured meat). Eat Just has large-scale facilities in Germany and North America and in <a href="https://sp-edge.com/updates/9243">March 2022 </a>, the company announced the groundbreaking on its new manufacturing facility in Singapore, the largest of its kind in the country post-completion, slated to be complete in 2 years at a cost of USD 120 million.JUST Egg, a plant-based substitute for making omelets and scrambled eggs, was commercialized by Eat JUST in 2018. In March 2020, Eat JUST reduced the price of JUST Eggs from USD 7.99 per 12 oz. bottle to USD 4.99. The company aims to make JUST Egg more affordable and as of January 2022, was available at Walmart online for USD 3.94 per 12 oz. bottle.In January 2020, the company announced a new folded plant-based egg along with an upgrade to its original liquid plant-based egg. The folded JUST Egg (priced at USD 3.88 for a box of four eggs in January 2022, down from USD 4.99 in January 2020), also made from mung beans and legumes, is ready to heat and eat. The Folded JUST Egg was available in more than 5,000 supermarkets such as Whole Foods Market, Albertsons Safeway, Gelson’s Markets, Stop &amp; Shop, Kings Food Markets, and Giant/Martin’s since April 2020. The upgraded liquid JUST Egg was launched in May 2020. By March 2021, the startup had sold a total of 100 million egg equivalents (up from 50 million in August 2020) of JUST Eggs in the US, Canada, and Asia (Singapore, Hong Kong, China, South Korea, and Thailand).Key customers and partnershipsIn August 2021, the company partnered with Infinite Foods to launch its plant-based egg in South Africa, its first entry into a sub-Saharan African country. <a href="https://sp-edge.com/updates/9599">In April 2022 </a>, Eat Just Inc. received regulatory approval for its mung bean protein in the EU and is planning to launch the product in the region in Q4 2022. Further, in <a href="https://sp-edge.com/updates/10634">May 2022 </a>, tennis pro Serena Williams and renowned actor Jake Gyllenhaal partnered with the company to appear in its national ad campaign ‘Really Good Eggs’ to promote JUST Egg. In <a href="https://sp-edge.com/updates/13770">October 2022 </a>, the company partnered with MingsBings to launch four new vegan breakfast items featuring JUST Egg. Also, during the same month, <a href="https://sp-edge.com/updates/13795">JUST Egg partnered with Starbucks </a>for a limited trial of new vegan menu items. In <a href="https://sp-edge.com/updates/20178">July 2023 </a>, the company partnered with Alpha Foods as a part of its brand portfolio renovation. Following this, JUST Egg <a href="https://sp-edge.com/updates/21095">partnered </a>with Korean alternative-meat company UNLIMEAT to develop Korean-style vegan products.Funding and FinancialsIn <a href="https://sp-edge.com/updates/12427">August 2022 </a>, the company bagged a USD 25 million investment along with a strategic partnership from Alibaba Group backed private equity firm, C2 Capital partners. Together, the companies are set to work towards expanding Eat Just’s footprint in the Chinese market. Later, in <a href="https://sp-edge.com/updates/21471">September 2023 </a>, the company raised an undisclosed amount in new funding led by VegInvest/Ahimsa Foundation. The funding was to be deployed towards improving the quality and profitability of Eat JUST's products.

Eat JUST

Zero Egg is an Israel-based developer of egg alternatives in powder form using plant-based ingredients such as soy, potatoes, peas, and chickpeas. The startup initially launched two main products, the EGG Basic, a replacement for scrambled eggs and omelets, and BAKE Basic, an egg replacement for baking. In <a href="https://sp-edge.com/updates/13217">September 2022 </a>, the company launched “Zero Egg Scoopable Scramble”, a ready-to-eat frozen plant-based scrambled egg product claimed to be the world’s first of its kind.The company initially only sold to foodservice customers and food manufacturers in 2 lb. bags of around 86 to 130 equivalent eggs. In October 2020, Zero Egg entered the US B2B market following a successful launch in the Netherlands and Israel. As of March 2024, the company’s products can also be purchased online in Patty and Liquid form.In 2021, the company announced that its product is co-manufactured in Cookeville, Tennessee, and would be distributed by Gordon Food Service in the US in 2021.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/18573">May 2023 </a>, Zero Egg partnered with NYC’s Plantega to become the latter’s exclusive plant-based egg supplier. Plantega, based on a deli-in-store concept, featured Zero Egg’s new Egg Patty in its bodega-style breakfast sandwiches, available via all its outlets and food delivery platforms. The following month, the company <a href="https://sp-edge.com/updates/19335">partnered with The Friendly Toast </a>, a US restaurant chain, to launch the Vegan Zero Egg Breakfast Sandwich at all of its ten locations.Funding and financialsIn November 2020, the company raised USD 5 million in a Series A funding round led by Powerplant Ventures. The funding was earmarked for new product launches and expanding the company’s US footprint.

Zero Egg

Impossible Foods, a producer of plant-based meat products, demonstrated a prototype of its plant-based milk product in October 2020. The product has been under development by a five-member research and development (R&amp;D) team since 2015. The startup developed the milk alternative using plant-based ingredients, including a special de-flavored and deodorized soy protein. Impossible Foods claims its product tastes like cow’s milk and functions (froth, cook) like cow’s milk. Unlike soy or nut-based milk, the Impossible Foods milk alternative can be mixed with hot beverages without any precipitation.Funding and financialsIn its latest funding round in November 2021, the startup raised USD 500 million in a venture funding round led by Mirae Asset Global Investments, with participation from returning investors. The latest funding is expected to fuel continued retail expansion, growth across its supply chain, product portfolio, technology platforms, and international expansion of its plant based meat products. The company plans to use the USD 700 million funding it raised in its 2020 Series F and Series G funding rounds to double its research and development team, with a focus on launching plant-based milk, steak, bacon, and fish.

Perfect Day produces animal-free dairy products using fermentation techniques. The startup uses microflora (microorganisms such as bacteria, yeast, or in this case, fungi) to create the protein blocks of milk-casein and whey via fermentation, which is later combined with fat and water to produce genetically identical substitutes to animal milk. Perfect Day has developed the microflora to produce milk proteins with a similar genetic blueprint corresponding to casein and whey. The startup launched its first product in 2019, a limited line of animal-free ice cream. Perfect Day has also developed animal-free substitutes for cream cheese, feta, and cheese spreads, in addition to milk. Since its first funding round in December 2019, Perfect Day reported a doubling of production capacity while significantly reducing costs. In <a href="https://sp-edge.com/updates/14938">November 2022 </a>, the company launched its Very Dairy animal-free milk in Singapore which is claimed to be the first precision fermented milk to enter the Asian market. Following this, Perfect Day <a href="https://sp-edge.com/updates/14989">acquired India’s Sterling Biotech Limited </a>at a value of 638 crore rupees (~USD 7.81 million).In <a href="https://sp-edge.com/updates/20068">July 2023 </a>, Perfect Day exited its consumer-facing business, The Urgent Company (TUC), due to investor pressure and to shift its focus towards R&amp;D innovation, B2B partnerships, and its nth Bio precision fermentation consulting business. 15% of the workforce at TUC was laid off as a part of this move.Key customers and partnershipsThe startup will focus on ingredient supply and partnerships with food manufacturers, adapting a B2B model. In May 2020, Perfect Day announced a collaboration with Smitten Ice Cream to produce and launch an animal-free and dairy-free ice cream, which was later called “N’Ice Cream.” Smitten Ice Cream launched four flavors priced at USD 12 for a 16 oz. container, on par with the other animal-free ice cream products. Further, the company entered into partnerships with Tomorrow Farms in <a href="https://sp-edge.com/updates/10605">May 2022 </a>and Strive Nutrition in <a href="https://sp-edge.com/updates/10862">June 2022 </a>to supply fermented animal-free whey protein for the production of alternative milk. In <a href="https://sp-edge.com/updates/11970">July 2022 </a>, the company partnered with sports nutrition brand, Myprotein to launch a precision fermented Whey protein powder. The company partnered with global food and beverage leader, Nestle in <a href="https://sp-edge.com/updates/12953">September 2022 </a>to develop and trial an unnamed alternative milk beverage. Further, during the same month, the company unveiled its <a href="https://sp-edge.com/updates/13187">enterprise biology business, “nth Bio” </a>, offering precision fermentation expertise and technology to companies worldwide and announced Onego Bio as its first partner in this new venture.In <a href="https://sp-edge.com/updates/26920">February 2024</a>, Perfect Day partnered with Unilever-owned ice cream company Breyers, to supply precision-fermented whey protein for developing a lactose-free ice cream product.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/25248">January 2024 </a>, Perfect Day raised up to USD 90 million in pre-Series E funding led by its internal investors. The funding was earmarked for supporting Perfect Day's shift toward manufacturing on a larger scale and paving the path for the commercial release of its fermented whey protein product.

Perfect Day

Califia Farms uses almonds to produce a range of plant-based alternatives such as milk, cold-brew coffee, creamers, half-and-half, butter, and yogurt. In February 2019, the US-based startup launched Übermilk, a milk alternative made with oat milk, pea protein, sunflower oil and seeds, flaxseed oils, and other vitamins and minerals. Übermilk contains the same amount of calories, more protein (8 g), and less sugar (2 g) than a serving of cow’s milk.In May 2020, Califia Farms replaced Übermilk with the Protein Oat product line, made with oat milk and pea protein, for a price of USD 5.99 per 48 oz (1.4 L). As of December 2020, the 48 oz unsweetened almond milk was priced at USD 3.99, while the 25.4 oz almond milk creamer cost USD 4.99, and 8 oz plant butter went for USD 4.79.In <a href="https://sp-edge.com/updates/14325">November 2022 </a>, Califia Farms added plant-based whipping cream to its portfolio with the launch of Heavy Whip. During <a href="https://sp-edge.com/updates/15601">January 2023 </a>, the company added USDA-certified Organic Oatmilk and Almondmilk–made with only purified water, sea salt, and oats/almonds–to its range of alternative dairy products. Further, in <a href="https://sp-edge.com/updates/26576">February 2024 </a>, the company launched Califia Farms Complete, a plant-based milk claimed to be nutritionally comparable to dairy.Califia Farms products are available in the US at Whole Foods, Kroger, Sprouts, and Target outlets. In its latest funding round in January 2020, Califia Farms raised USD 225 million in Series D funding led by the Qatar Investment Authority. Califia Farms intends to use the funding to expand its production capacity, research and development (R&amp;D) efforts, and geographical expansion.

Califia Farms

Provides sustainable solutions for dairy products and egg farming

Producers of non-dairy (such as plant-based, microflora, cultured etc) protein bases that are supplied to dairy alternative manufacturers to produce milk, butter, cheese, ice cream and yoghurt alternatives.

Producers of plant-based egg alternatives for general consumption (used in baking and cooking) using pulses such as mung beans, peas, soy, chickpeas etc.

Headquartered in Colorado, Nepra Foods is a multi-category market leader in allergen-free and plant-based food ingredients and consumer products. The company is working toward producing foods free from allergens, animal products, and gluten without compromising flavor, texture, or nutrition. Its portfolio includes dairy alternatives, egg replacement powder, bake mixes, ready meals, and specialty ingredients that are available through B2B and D2C channels under its CPG brands. Nepra products are available at major supermarket chains like Walmart, Costco, Target, and Safeway.Key partnershipsIn <a href="https://finance.yahoo.com/news/nepra-foods-inc-announces-partnership-224000211.html">July 2023 </a>, Nepra Foods partnered with the Cloud Boys Bakery for the development and launch of a portfolio of gluten-free bread products under the brand name Bright Sky BakeHouse, with a 20-day shelf life, surpassing the standard shelf life of most gluten-free bread products available in the market. The launch was planned for Q3 2023, and it anticipated an initial annual production of 2.4 lbs of flour-blend, sourced from Nepra Foods.In <a href="https://vegconomist.com/company-news/nepra-scoular-plant-based-ingredients/">March 2023 </a>, Nepra Foods announced a partnership with global agribusiness company Scoular to manufacture and distribute allergen-friendly plant-based ingredients. The partnership involves both parties leveraging Nepra's R&amp;D capabilities for new product development and the use of specialty ingredients from each company. Scoular has also committed to making Nepra products available through its extensive global supply chain network.Funding and financialsDuring FY2021, Nepra Foods recorded its fifth consecutive year of revenue growth with a 150% YoY reported growth.In <a href="https://vegconomist.com/company-news/nepra-foods-maker-of-innovative-textured-hemp-protein-enters-us-securities-market/">September 2021 </a>, the company was listed on the Canadian Stock Exchange (ticker: NPRA) and raised CAD 7.5 million (~USD 5.6 million) in an oversubscribed IPO. However, in <a href="https://www.stocktitan.net/news/NPRFF/nepra-foods-announces-cease-trade-ond7z8en6zj5.html">October 2023 </a>, the British Columbia Securities Commission issued a cease trade order to the company for not filing its annual audited financial statements.In <a href="https://sp-edge.com/updates/28829">April 2024</a>, the company secured a loan of USD 950,000 from William Hogan at 6% per annum. The new funds were to support the growth of Nepra Ltd. and aid in increasing its enterprise value.

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 California Cultured is a producer of cocoa products such as cocoa powder, chocolate, cocoa butter, and flavanols using plant cell culture technology by taking biopsies from selected cacao plants. The company developed its research based on Criollo cacao varieties, fine-tuning cell lines for specific flavors. In August 2022, the company announced that it was working on the development of cell-cultured coffee.
 
 
 As of December 2022, the company was building its 12,100 sq m facility in West Sacramento and had begun building its pilot plant. As of July 2023, the company was finalizing production methods, with the aim of a commercial launch by 2025&ndash;2026, following FDA approval.
 
 
 Key customers and partnerships
 
 
 In 2022, California Cultured partnered with VTT, a Finnish national research institute, to develop cell lines for cell-cultured coffee. 
 &nbsp;In 
 <a href="https://sp-edge.com/updates">
 February 2023
 </a>
 , the company inked a 10-year commercial partnership with Japanese chocolate corporation Meiji to incorporate its cell-based cocoa into Meiji's products. This collaboration marked the first global use of cell-cultured chocolate.
 
 
 Funding and financials
 
 
 California Cultured received undisclosed investments from investment platforms focused on clean, lab-grown food such as CULT Food Science (February 2022) and Blue Horizon (March 2022). In October 2021, the company raised USD 4 million in seed funding led by Agronomics to expand its R&amp;D activities.
 
 
 
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California Cultured

Nukoko is a UK-based company that produces 100% cocoa-free chocolate peanuts made from locally sourced fava beans using a biotransformation and precision fermentation process. It also uses a microbial library of cocoa flavors to match chocolate in terms of flavor, thickness, and texture.As of October 2023, the company had opened a limited product launch and sold out the first batch of cocoa-free chocolate nuts, with a full launch planned for 2024. The company claims to produce 90% less carbon emission per kg than conventional chocolate.&nbsp;Key customers and partnershipsIn 2023, Nukoko secured a development agreement with Swiss retailer Coop Group.Funding and financialsIn <a href="https://sp-edge.com/updates/27836">March 2024</a>, Nukoko raised USD 1.5 million in seed funding led by Oyster Bay Venture Capital, with participation from SOSV and The Mills Fabrica, along with a grant from Innovate UK to advance its technology to manufacture cocoa-free chocolate from fava beans. In April 2023, the comapany secured GBP 525,000 (~USD 637,500) in a pre-seed round from IndieBio to support product development.&nbsp;&nbsp;

Nukoko

<div>
 
 Win-Win (WNWN Food Labs prior to 
 <a href="https://sp-edge.com/updates/27014">
 February 2024
 </a>
 ) is a London-based producer of cocoa-free chocolate using plant-based ingredients such as grains/cereals and legumes through a proprietary fermentation process. The company's cocoa-free chocolate can be used in candy bars, confectionery, cookies, chocolate coatings, ice cream, and beverages. It claims to use 90% less water and emit 80%&ndash;90% less greenhouse gases than regular chocolate.
 
 
 In May 2022, Win-Win was operating on a lab scale, capable of producing between 300kg and 600 kg (~661 and 1,323 lbs) of chocolate per month. In November 2022, the company began expanding its facility in Hackney Wick, increasing its production space 8x. In November 2023, the company expanded its plant-based milk chocolate to bakeries, foodservice, confectionery groups, and CPG/FMCG companies 
 <a href="https://sp-edge.com/updates/24144">
 worldwide
 </a>
 .
 
 
 The company had previously introduced limited-edition cocoa-free products via D2C channels: dark chocolate thins at GBP 10 (~USD 13) per box (May 2022) and the Waim! Bar priced at GBP 8 (~USD 9) for a pack of three bars (September 2022). In March 2023, the company finalized the recipe and process for a line of milk chocolate products that are cocoa- and dairy-free and contain both oats and tiger nuts. The company also experimented with an alternative chocolate ice cream bar at the H&auml;agen-Dazs Start-Up Innovation Challenge in June 2023.
 
 
 Key customers and partnerships
 
 
 In September 2023, Win-Win partnered with the UK department store Fortnum &amp; Mason to showcase its cocoa-free chocolate and technology, including a demonstration and tasting during Fortnum's Harvest Week. In December 2022, the company partnered with Milan-based luxury gift service DLISH to include its specialty chocolate hazelnut gianduja, a northern Italian confection, in DLISH's holiday gifts. In December 2023, the company completed the 
 <a href="https://sp-edge.com/updates/24805">
 CoLab Tech accelerator
 </a>
 with Mondelēz International and showcased its cocoa-free chocolate bars, truffles, and coated biscuits at Mondelēz's North American headquarters.
 
 
 Funding and financials
 
 
 In February 2023, Win-Win raised GBP 4.5 million (~USD 5.6 million) in Series A funding to scale up manufacturing and increase headcount in anticipation of its UK retail launch.
 
 
 
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Win-Win

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 Planet A Foods is a Germany-based startup that makes cocoa-free chocolate ChoViva (formerly NoCoa/QOA) via precision fermentation of oats and sunflower seeds. It then uses proprietary micro-bacteria and flavor formation processes to create a vegan product that mimics the texture and flavor of chocolate. In addition to Germany, ChoViva focuses on Austria and Switzerland, with expansion plans to the US in 2024.
 
 
 Planet A Foods produces cocoa-free chocolates by blending cocoa-free ingredients: a cocoa powder substitute (ChoViva Concentrate) and a cocoa butter substitute (ChoViva Butter). ChoViva represents Planet Foods' debut cocoa-free chocolate product, created using Planet A Foods' cocoa concentrate alternative. The chocolate is produced in-house at Planet A&rsquo;s facility in the Czech Republic. As of October 2023, the ChoViva range included 21 products with prices ranging from EUR 0.5 to EUR 9.95 (~USD 0.53 to USD 10.48).
 
 
 Additionally, the company was in the process of developing its cocoa butter alternative through precision fermentation technology, using single-cell oils and fermentation byproducts. As of October 2023, the company was shipping this fat to early customers for R&amp;D purposes.
 
 
 The company asserts that its chocolate product could be 10x more sustainable, 20% cheaper, and emit about 92% less than conventional chocolate while also using 30% less sugar and 94% less water.
 
 
 Key customers and partnerships
 
 
 In April 2023, the company partnered with German online retailer Confiserie Seidl to launch ChoViva, its first sustainable chocolate line. The brand sees itself as a B2B player, after partnering with oat cereal maker K&ouml;lln on a new line of vegan mueslis using the company's cocoa-free chocolate in September 2023. In December 2023, ChoViva teamed up with 
 <a href="https://sp-edge.com/updates/24997">
 Lindt
 </a>
 to launch a special edition chocolate bar for Veganuary, named &quot;Soft &amp; Creamy Hazelnut.
 
 
 In 
 <a href="https://sp-edge.com/updates/26955">
 February 2024
 </a>
 , Planet A Foods partnered with REWE Group, Germany&rsquo;s second-largest supermarket chain, to supply ChoViva for REWE Group&rsquo;s own-label cocoa-free products.
 
 
 Funding and financials
 
 
 In its latest funding round in 
 <a href="https://sp-edge.com/updates/26176">
 February 2024
 </a>
 , the company raised USD 15.4 million in Series A funding led by World Fund, with participation from Omnes Capital, Cherry Ventures, Nucleus Capital, and others. The funds were earmarked for additional scientist hires to bolster its 50-person team in Germany to increase the production of cocoa butter and palm oil alternatives on an industrial scale.
 
 
 
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Planet A Foods

Atomo Coffee is a developer of beanless coffee that comes in two flavors: 1) regular beanless coffee with 100 mg of caffeine per serving made from date seeds, ramon seeds, sunflower seed extract, pea protein, millet, lemon, guava, and defatted fenugreek seeds and 2) decaffeinated (decaf) beanless coffee. The company claims to be the world's first beanless coffee maker.The company’s products are available for retail purchase at <a href="https://sp-edge.com/updates/23234">Gumption Coffee </a>in New York. In addition, the company began taking pre-orders for wholesale at a price of USD 20.99 per pound (as of October 2023).The company also plans to open a facility in March 2024 that can annually produce four million lbs of ground coffee, made from upcycled date pits (~80 million cups).Atomo's brews reportedly use 94% less water and produce 93% less carbon emissions than traditional coffee.Key customers and partnershipsIn July 2022, the company partnered with Minor Figures, a vegan products company, to launch the 8-ounce canned Oat Milk Latte, a beanless cold brew, one of Atomo's first focus products.In <a href="https://sp-edge.com/updates/28665">April 2024</a>, Atomo Coffee partnered with specialty coffee chain Bluestone Lane to distribute its espresso at all 58 Bluestone Lane locations across the US.Funding and financialsIn June 2022, the company raised USD 40 million in a Series A funding round for product development and to scale up manufacturing. In November 2023, the company secured an undisclosed multi-million dollar investment from Japanese beverage leader <a href="https://sp-edge.com/updates/24577">Suntory Holdings </a>to strengthen its international distribution.

Atomo Coffee

Transforms raw materials into novel, sustainable food products with minimal environmental impact

Companies producing foods (excluding meat, dairy and eggs) that use alternative ingredients to mimic conventional products via technologies such as fermentation or cell culture. Also includes specific dietary and medical foods

Nepra Foods

Plant-based Meat

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EDGE Insights

Q2 2022 Plant based meat menu: Toward price parity

Recent Updates

Nepra Foods raises USD 950,000 in debt funding to support growth

Nepra Foods raises USD 950,000 in debt funding to support growth

Nepra Foods raises USD 950,000 in debt funding to support growth

Nepra Foods partners with Scoular to manufacture and distribute plant-based ingredients

Nepra Foods partners with national bakery for egg replacement

Nepra Foods begins commercial production of egg white replacement powder

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