Green Generation Fund is a venture capital firm. The company primarily invests in early-stage food technology and green technology companies. They support passionate, mission-driven founders who are building game-changing firms in the field of environmental sustainability, the single least pressing goal of humanity.

Green Generation Fund

SFO is a venture capital firm that supports entrepreneurs with a focus on cleantech, foodtech, mobility, digital transformation, and automation. We provide capital as well as strategic guidance and access to a robust network of industry experts, investors, and partners. SFO is dedicated to fostering sustainable growth by combining entrepreneurial expertise with reliable equity financing, offering long-term support without fixed investment timelines.

ProteinDistillery

ProteinDistillery is at the forefront of producing clean protein ingredients sourced from fermented biomass materials, such as brewer’s yeast. Using cutting-edge technology, the company creates Prew:tein™, a high-quality protein with superior nutritional and functional properties that can replace animal components and unwanted additives in a variety of products, including meat-, dairy-, and egg alternatives, as well as baked goods. Thereby, Prew:tein™ enables food companies to create authentic vegan alternatives to animal products, delivering nutritional value, taste, and texture to the end-product.

ProteinDistillery is a German biotechnology startup that develops functional, vegan, and non-novel food protein ingredients. The company’s flagship ingredient Prew:tein is claimed to be the first customizable <a href="https://sp-edge.com/updates/11065">vegan protein</a> and is manufactured using upcycled brewer’s yeast.

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

Plant-based Meat

ProteinDistillery Raises €15M in Seed Funding

NETZSCH

To enhance the production of the company's flagship ingredient Prew:tein.  This partnership marks the entry of NETZSCH into the alternative proteins sector and is expected to lead to the development of advanced purification methods, enabling innovation in the industry.

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

ProteinDistillery is a German biotechnology startup that develops functional, vegan, and non-novel food protein ingredients. The company’s flagship ingredient Prew:tein is claimed to be the first customizable <a href="https://sp-edge.com/updates/11065">vegan protein</a> and is manufactured using upcycled brewer’s yeast.According to ProteinDistilley, the production of Prew:tein is weather-proof, consumes 400 times less land area, 250 times less water, and emits 80x less greenhouse emissions compared with a kilogram of protein from beef. Due to the customizable nature of this protein, it offers various applications across the alternative protein sector and claims it can replace all functionalities of animal proteins.Key customers and partnershipsAs of June 2022, the company was working with its initial cohort of customers, using the B2B model while looking to expand its team.In <a href="https://sp-edge.com/updates/28664">April 2024</a>, ProteinDistillery partnered with machine manufacturer NETZSCH to enhance the production of the company's flagship ingredient Prew:tein.Funding and financialsIn <a href="https://sp-edge.com/updates/27385">March 2024</a>, the company raised EUR 15 million (~USD 16.4 million) in seed funding led by the Green Generation Fund, with participation from other investors. The funds were earmarked for expansion efforts and the launch of Europe's first protein-competence center in Germany. This center, slated to be fully operational by 2025, will manufacture Prew:tein.

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 – 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 <a href="https://sp-edge.com/updates/33291">September 2024</a>, Fry's Family Foods launched Shape &amp; Sizzle Mince, a new plant-based product, at Tesco stores across the UK.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’s brand portfolio and extend the company’s international footprint into more than 40 countries including the US, Canada, Asia, Europe, and the UK.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’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’s position in the global plant-based market and enable further growth and innovation within the industry.Key customers and partnershipsIn 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’s sustainability approach will result in a long-term achievement of cost parity with conventional animal meat.

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.&nbsp;

NotCo

<div>
 
 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;
 
 
 
</div>

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&nbsp;<a href="https://sp-edge.com/updates/32229">July 2024</a>, the company received the European Food Safety Authority’s (EFSA) provisional approval for the use of heme, followed by a positive safety opinion from a panel on the genetic modifications of the ingredient in&nbsp;<a href="https://sp-edge.com/updates/36222">November 2024</a>.&nbsp;In&nbsp;<a href="https://sp-edge.com/updates/32555">August 2024</a>, the company opened its first in-person foodservice concept called "Impossible Quality Meats" in Chicago, Illinois. This pop-up store offered a fully plant-based menu featuring items from its portfolio.&nbsp;Following this, in&nbsp;<a href="https://sp-edge.com/updates/34557">October 2024</a>, Impossible Foods launched three new retail products: Impossible Disney The Lion King Chicken Nuggets, Impossible Meal Makers, and Impossible Corn Dogs. The company claimed that these were healthier, cholesterol-free alternatives.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.

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 <a href="https://sp-edge.com/updates/30584">June 2024</a>, Planted products were available at over 6,100 restaurants and 8,700 retail outlets across Switzerland, Germany, Austria, France, Italy, the UK, Benelux, and UAE with plans to expand into the US 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

Producers of plant-based pork alternatives using plant proteins such as pea, soy, wheat, etc. Some startups also use unique ingredients such as mushroom mycelium (whole-cut bacon) and jack fruits (pulled pork) to produce pork alternatives. Products are manufactured mostly in sausage or pulled (pork) form

Producers of plant-based chicken, turkey, and duck alternatives using plant proteins such as peas, soy, wheat, etc. Products are manufactured mostly in nuggets or shredded form

Producers of plant-based seafood alternatives using plant proteins such as peas, soy, chickpeas, etc. Some startups use more unique ingredients such as algae, konjac (a Japanese yam root), tomatoes, and eggplants. Products are manufactured mostly in shredded form or as cuts (for sushi)

Producers of plant-based beef alternatives using plant proteins such as peas, soy, wheat, mung beans, etc. Products are manufactured mostly in a burger patty, sausage, meatball, or minced form

Utilizes 3D printing techniques to develop meat alternatives

Provides sustainable alternatives to animal meat

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 ProteinDistillery, a German biotech company focusing on alternative protein ingredients, has entered into a partnership with machine manufacturer NETZSCH. The goal of the partnership is to improve the production of ProteinDistillery's primary ingredient, Prew:tein.
 As part of the partnership, NETZSCH will supply equipment to extract Prew:tein from biomass and participate in joint developmental processes. This collaboration signifies NETZSCH's entrance into the alternative proteins market and is anticipated to result in the creation of highly sophisticated purification techniques, fostering innovation in this field. Additionally, the companies intend to boost production, widen their market presence and speed up ProteinDistillery's growth.&nbsp;
 
</div> Analyst QuickTake: 
 In <a href="https: 
//sp-edge.com/updates/27385"> March 2024 </a> , ProteinDistillery raised EUR 15 million (~USD 16.4 million) in seed funding to launch Europe's first protein-competence center in Germany. This new partnership will aid and enhance the production of Prew: 
tein at the new facility, slated to be operational by 2025.

ProteinDistillery

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