Investing in companies at the forefront of Foodtech

Foodlab Capital

Pitango VC is a venture capital firm focused on health-tech (Pitango Health-tech) and growth (Pitango Growth) investments in startups around the world in domains such as vertical SaaS, digital health, deep tech, fintech and insurance technology, devops, generative AI, Web3, and food tech. With two offices in Israel, Pitango currently manages several venture funds totaling over $2.8 billion in committed capital. It has invested in more than 250 companies.

Pitango VC

BlueRed Partners is a venture capital fund that invests in the e-commerce, finance, healthcare, agriculture, technology, and retail sectors. The firm was founded in 2017 and is based in Singapore.

BlueRed Partners

Rhodium is a private investment firm, we specialize in exceptional teams, fostering the growth of companies that are at the forefront of high-growth and cutting-edge industries. Our primary focus areas include Impact, Internet, Climate Tech, Food Tech, Space, and Deep Tech. We are dedicated to seeking out technologies that have the potential to make a profound difference in our world. We go beyond providing financial support. Rhodium is committed to supporting entrepreneurs and fortifying their ventures with our vast resources, encompassing funding, extensive management expertise, and a valuable global network of business contacts. Our vision at Rhodium is to collaborate closely with talented entrepreneurs, transforming their innovative ideas into industry-leading companies. We take an active role in our portfolio companies, strategically investing in promising startups each year, and creating the optimal environment for them to evolve into world-class business ventures. For more detailed information about us, please visit our website at www.rhodium.co.il.

Rhodium

DSM  the Life Sciences and Materials Sciences Company Royal DSM N.V. creates innovative products and services in Life Sciences and Materials Sciences that contribute to the quality of life. DSMs products and services are used globally in a wide range of markets and applications, supporting a healthier, more sustainable and more enjoyable way of life. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrical and electronics, life protection and housing. DSM has annual net sales of EUR 9.3 billion and employs some 23,500 people worldwide.   The company is headquartered in the Netherlands, with locations on five continents. DSM is listed on Euronext Amsterdam.

OurCrowd is a venture investing platform that enables institutions and individuals to invest and engage in emerging companies. OurCrowd was started in 2013, driven by the idea that the business of building startups grows bigger and better when the global 'crowd' gains access to VC-level investment opportunities.

OurCrowd

B2venture is a venture capital firm focused on early-stage investments in digital and industrial technology companies. B2venture invests EUR 100m+ per year in high-growth companies with ticket sizes from EUR 0.25m to 3.5m.

b2venture

Singha Ventures is a venture capital fund.

Singha Ventures

Südzucker AG is a German company, the largest sugar producer in Europe with an annual production of around 4.8 million tonnes.

Südzucker AG

La Maison ITF is the investment platform dedicated to Israeli technologies

La Maison ITF

Founded in 2001, DSM Venturing is the corporate venture capital arm of Royal DSM, based in Heerlen, Netherlands. The firm invests in companies developing innovative products and services in sectors of life sciences (animal and human health & nutrition) and biomedical.

DSM Venturing

Sienna Venture Capital is a venture capital investment firm.

Sienna Investment Managers

Teseo Capital is a venture capital investment firm.

Teseo Capital

Incredo

Incredo (formerly DouxMatok) is a global food-tech company. They have developed a proprietary technology that enhances the sweetness of sugars with no after taste - preserving the full ''sugar experience'' customers are looking for. The enhanced sweetness allows for a significant reduction in the consumption of sugar. The company was incorporated in 2014, and its R&D center is based in Petach-Tikva, Israel.

Incredo, formerly known as DouxMatok, is a company that specializes in sugar reduction technology. Their flagship product, Incredo Sugar, is a sugar-based sweetener that allows for a 30%–50% reduction in sugar content. Incredo Sugar is made using real cane or beet sugar that is structured differently by adding a carrier compound to ordinary sugar, creating clusters that linger on the tongue, optimizing flavor and ensuring consumers taste all of the sugar they consume. Incredo Sugar is FDA and EFSA (European Food Safety Agency) compliant and is suitable for most applications, except liquids. The company demonstrated the potential of its technology with a limited launch of Incredo Spreads in 2021, which included a low-sugar hazelnut cocoa spread akin to Nutella, but with about half the sugar and 7x the fiber.

Empowering sustainable food innovation through food engineering tech

Alternative Ingredients

Incredo Sugar: Redefining Sweetness, Delighting Taste Buds, and Nurturing Health

Incredo, formerly known as DouxMatok, is a company that specializes in sugar reduction technology. Their flagship product, Incredo Sugar, is a sugar-based sweetener that allows for a 30%–50% reduction in sugar content. Incredo Sugar is made using real cane or beet sugar that is structured differently by adding a carrier compound to ordinary sugar, creating clusters that linger on the tongue, optimizing flavor and ensuring consumers taste all of the sugar they consume. Incredo Sugar is FDA and EFSA (European Food Safety Agency) compliant and is suitable for most applications, except liquids. The company demonstrated the potential of its technology with a limited launch of Incredo Spreads in 2021, which included a low-sugar hazelnut cocoa spread akin to Nutella, but with about half the sugar and 7x the fiber.Key customers and partnershipsThe company notes that its current focus is on providing its Incredo Sugar as an ingredient to food manufacturers, rather than selling the loose product directly to consumers.Incredo has established partnerships with several leading food manufacturers and ingredient suppliers to bring its sugar reduction technology to market. In 2021, the company announced a collaboration with Blommer Chocolate Company, one of the largest cocoa processors and chocolate ingredient suppliers in North America. This partnership aims to develop and commercialize reduced-sugar chocolate and confectionery products using Incredo Sugar and the partnership was extended in 2024 to expand its reach to Canada. In May 2023, Incredo announced a joint development agreement with Ferrero to develop confectionery products incorporating Incredo Sugar, leveraging Ferrero's diverse portfolio that includes confectionery, cookies, and ice cream brands.Since 2018, Incredo has been working with Südzucker, Europe's largest sugar producer, to distribute and market Incredo Sugar in Europe. This strategic alliance allows Incredo to leverage Südzucker's extensive distribution network and customer relationships to expand its reach in the European market.

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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 2025 for the EU/UK markets as a B2B ingredients supplier. The company claims to produce 90% less carbon emission per kg than conventional chocolate&nbsp;and its chocolate alternatives contain 40% less sugar and higher protein, fiber, and antioxidants than traditional chocolate.&nbsp;

Nukoko

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 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.
 
 
 
</div>

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.
 
 
 
</div>

Planet A Foods

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 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&rsquo;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 partnerships
 
 
 In 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.
 
 
 Funding and financials
 
 
 In 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.
 
 
 
</div>

Atomo Coffee

Companies providing technology related to fortification, cell culture, and fermentation and those supplying equipment including bioreactors and fermenters for the production of novel foods

Companies offering salt substitutes to reduce sodium content in foods and beverages

Companies developing natural sweeteners and solutions to reduce sugar content in foods and beverages

Companies creating natural flavor, texture, and coloring ingredients from plant-based sources like seaweed and algae

Companies producing chocolate without cocoa using ingredients like oats, seeds, and cell-cultured cocoa

Companies making coffee substitutes from ingredients like barley, date seeds, and sunflower seeds

Companies offering plant-based alternatives to honey and nut spreads, addressing dietary restrictions and allergies

Companies producing cooking oils and fats through fermentation, cell-cultured and plant-based extraction processes

Companies developing protein ingredients via cell-culture or fermentation for dietary supplements and food production, excluding plant-based or cell-cultured meat

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

Incredo

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