Cargill is an international producer and marketer of food, agricultural, financial, and industrial products, and services. Founded in 1865, Cargill privately held company employs 155,000 people in 70 countries. The company helps customers succeed through collaboration and innovation, and is committed to sharing our global knowledge and experience to help meet economic, environmental, and social challenges.  Customers turn to Cargill for company scientific expertise when they need to improve an existing product, improve process efficiencies, or find a solution to help them launch a first-to-market innovation. The company's goal is to use Cargill's research and development capabilities to create distinct value through new, improved products, innovative cost-cutting methods, or both. The company's global team includes more than 1,300 research, development, applications, technical services, and intellectual property specialists working in more than 200 locations. Together, they provide a spectrum of services encompassing technical service, applications, development, research, intellectual asset management, and scientific and regulatory affairs.

Cargill

Puris

Puris is a family-owned company that cultivates plant-based foods and ingredients from organic and non-GMO sources, providing a sustainable alternative to GMOs and animal proteins. It provides products that are pure vegan, gluten-free, dairy-free, allergen-free, and mystery-free. Its model is grounded in 30 years of non-GMO natural breeding and sustained by an alliance of domestic growers and partners. Puris is the exclusive producer of PURIS Pea protein, starches, fibers, and other non-GMO ingredients from soy, pulses, lentils, and corn. It was founded in 1985 in Oskaloosa, Iowa, and is headquartered in Minneapolis, Minnesota.

<div>PURIS is a producer of plant-based ingredients specializing in organic pea protein and non-GMO soy ingredients.</div>

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

Plant-based Meat

PURIS

PURIS’ Continuation Vehicle Fund

Cargill announced it has signed a joint venture agreement with Minneapolis-based Puris, the largest North American producer of pea protein. The venture is aimed at accelerating the roll-out of new products as consumer demand for pea protein increases. Cargill didn’t disclose the amount of its investment in Puris.

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 the production of plant-based meat.

<div>
 
 PURIS is a producer of plant-based ingredients specializing in organic pea protein and non-GMO soy ingredients.
 
 
 PURIS produces clean-label, non-GMO, and organic ingredients. Its range of products includes pea proteins, upcycled starches, fibers, and sweeteners, which cater to diverse sectors. Its pea protein products are used in various applications, including plant-based meat alternatives, dairy-free products, and nutritional supplements.
 
 
 PURIS operates a vertically integrated supply chain, from seed to solution, enabling it to guarantee quality control and traceability. It operates the largest pea protein facility in North America, located in Dawson, MN. The company primarily operates as a B2B supplier, providing plant-based ingredients to food manufacturers and brands that incorporate these ingredients into their products.
 
 
 Key customers and partnerships
 
 
 PURIS Holdings and LIVEKINDLY Collective have formed joint ventures to solve food waste and accelerate the adoption of regenerative plant-based nutrition for a more sustainable food system.
 
 
 In July 2023, PURIS partnered with Palmer Holland to expand the distribution of PURIS' plant-based ingredients portfolio across North America, targeting food, beverage, pet food, and nutraceutical markets.
 
 
 Funding and financials
 
 
 In February 2020, PURIS raised USD 25 million in a venture round from an undisclosed investor.
 
 
 
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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 – 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.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

<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;
 
 
 
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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/32229">July 2024</a>, the European Food Safety Authority (EFSA) provisionally approved the use of heme, pending clearance from a panel on the genetic modifications of the ingredient. The deadline for this assessment was set for June 2025.In <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.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 <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 or 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

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

PURIS

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