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Food Tech (Q2 2024): PBM cooking up a recovery; cultivated meat gets a regulatory grilling

This Insight covers quarterly updates on food technology and focuses on our coverage of Plant-based Meat (PBM), Plant-based Dairy & Egg (PBD&E), Cell-cultured Meat (CCM), Alternative Ingredients, and upcycled foods and beverages (covered under the Food Waste industry hub).

Table of Contents


Key takeaways

Regulations
  • New US laws put the CCM industry in a tough spot, with Alabama and Florida imposing state-wide bans and penalties on CCM production and sale as well as the REAL Meat Act of 2024 seeking to prohibit the use of federal funds for CCM-related activities. This poses additional challenges to cultured meat producers already struggling with high production costs, potentially pushing back commercialization. On a positive note, Singapore continues its commitment to food tech innovation with a new proposal to streamline approval for novel foods. 
Funding
  • Food tech funding increased for the fourth consecutive quarter, raising USD 409 million across 26 rounds, the highest since Q1 2023. Early- and growth-stage rounds were at the center of this recovery, accounting for ~75% of total funding, with ingredient and technology suppliers being the biggest beneficiaries. Funding was primarily allocated to commercialization, capacity scaling, and market expansion. Meati’s USD 100 million megadeal was the largest, followed by Prolific Machines (~USD 55 million) and Voyage Foods (USD 52 million).
Product updates
Partnerships
  • Incumbent activity spanned across the F&B value chain, with Unilever, Starbucks, Cargill, and Danone focusing on joint product, distribution, and process improvements. CCM startups focused on AI and robotics integrations to improve the precision and efficiency of production processes. PBD&E companies focused on cross-industry collaborations with alternative meat, coffee, and nutritional drink producers.
M&A
  • The Ahimsa Company's acquisition of the UK-based Wicked Kitchen was the only recorded M&A activity. The absence of distressed acquisitions compared with recent quarters resonated with PBM’s underlying recovery theme.
Outlook
  • PBM showed early signs of recovery: PBM has been on a downtrend since 2021 on account of higher prices and issues related to taste, texture, and quality. However, recent quarters have shown signs of a turnaround. Producers remain strong on the innovation front, developing more clean-label ingredients and launching improved products (Beyond IV, Marble 3.0) to tackle consumer concerns, duly backed by renewed investor interest. With new funds mainly allocated to commercialization, capacity scaling, and market expansion efforts, we expect product and market activity to gradually increase over the next 1–2 years. Additionally, the launch of innovation centers and pledges from industry and non-profit organizations (~USD 135 million from Protein Industries Canada, Bezos Earth Fund, and the University of Illinois ARCS) are likely to accelerate R&D in sustainable protein ingredients, supplementing PBM’s recovery.
  • CCM startups likely to target more conducive markets: CCM startups recorded their highest funding levels since Q4 2022 on the back of large deals from Mosa Meat and Prolific Machines. Product announcements also reached its highest since Q2 2023. On the flipside, Aleph Farms cut down its workforce by 30% due to scaling challenges and SCiFi Foods ceased operations citing financial difficulties. The regulatory environment has also been a mixed bag, with the recent headwinds overshadowing the FDA’s landmark decision last year to approve US CCM sales. Given the tumultuous situation in the US, companies may increasingly target the UK and Singapore markets for their product launches, where the regulators are taking steps to be more accommodating and streamline the approval processes for lab-grown meats.

Regulations: Alabama and Florida ban cultured meat

Analyst Take: Alabama and Florida have imposed state-wide bans and penalties for the production or sale of cultured meat. The two laws overshadowed the USDA’s landmark decision last year to approve the sale of cultivated meat in the US. Meanwhile, the newly-housed REAL Meat Act of 2024 aims to prohibit the use of federal funds for any activities related to cultivated meat, citing dangers to human health and the livelihood of traditional meat producers. Cultured meat producers, already struggling with high production costs, now face additional challenges in responding to these bans, potentially pushing back commercialization timelines.
  • The US tightened laws on alternative meats: Alabama and Florida have criminalized the sale and manufacture of lab-grown meats, imposing misdemeanor-level charges, fines, and even prison sentences (the latter only in Alabama). Iowa has also enforced stricter labeling regulations to prevent consumer confusion between alternative and animal meats. Additionally, the REAL Meat Act of 2024, introduced in June by Republican Party member Warren Davidson, seeks to prohibit the use of federal funds for any activities related to cultivated meat, including research, production, and marketing.

New US laws related to alternative meats (Q2 2024)

  • Singapore continued to be novel-food-positive: Exotic cultured meat producer Vow received approval from the Singapore Food Agency (SFA) to produce and sell the world's first cultured quail product, Quailia. Vow became the fourth cultivated meat company to receive regulatory approval, along with UPSIDE Foods, Eat JUST, and Aleph Farms. The SFA also drafted the Food Safety and Security Bill (FSSB), intending to improve and streamline Singapore’s current novel food application process for cultivated meats as well as fermentation-based and insect-derived proteins. 
  • France halted stricter labeling laws for plant-based products: The French Conseil d'Etat temporarily halted a decree that would prohibit plant-based products from being labeled with names typically associated with meat, such as steak or ham. The decree was originally set to take effect on May 1 but was suspended following multiple requests from plant-based companies.

Funding: Recovery continues for the fourth straight quarter

Analyst Take: Food tech funding continued its recovery, increasing for the fourth consecutive quarter and reaching its highest level since Q1 2023. This was led by several high-profile rounds, including Meati’s USD 100 million megadeal, Prolific Machines’ USD 55 million Series B, and Voyage Foods’ USD 52 million Series A. Early- and growth-stage funding accounted for 75% of total investments, the highest since 2022. These investments were mostly focused on companies producing ingredients for alternative meat and dairy applications, such as Solar Foods, Enifer, and MOA Foodtech. Funding was primarily allocated to commercialization, capacity scaling, and market expansion, potentially paving the way for increased product and market activity in the alternative meat, dairy, and ingredients sectors in the second half of the year.

Food Tech: Funding summary (Q2 2024)

  • Food Tech funding was at its highest since Q1 2023, reaching USD 409 million, up 5.5% QoQ and 120.9% YoY. Although the number of rounds (26) was lower than last quarter, the average funding round size was USD 15.7 million, surpassing the combined average for the last two years (USD 14.7 million).
  • Continuing its recovery from last quarter, PBM raised the most (USD 177 million across 12 rounds), followed by CCM (USD 117 million across six rounds). PBD&E and Alternative Ingredients, which had eight funding rounds each last quarter, witnessed a drop in activity, with only two and five rounds, respectively.
  • Early-stage funding accounted for ~45% of the total and was up for the fourth consecutive quarter. This was on the back of several funding rounds that raised USD 40 million or more (Meati, Prolific Machines, Voyage Foods). Growth-stage funding also maintained its positive momentum from late last year.

PBM and PBD&E

  • PBM funding continued its upward trajectory, reaching its highest since Q3 2022. PBM startups raised USD 177 million (+21.4% QoQ and +61.3% YoY) across 12 funding rounds. Funds were predominantly raised by ingredient and technology suppliers for market expansion and scaling production. Notably, the Series C rounds of Meati (USD 100 million) and THIS (USD 21.4 million) accounted for ~68% of total PBM funding, while Enifer and Tender Foods also had USD 10 million+ rounds. 
  • PBD&E funding was dominated by Onego Bio’s USD 40 million Series A round and accounted for ~98% of total PBD&E funding. These funds were earmarked for supporting its North American commercialization efforts, including scaling production capacity and increasing the headcount of its US commercial team.

CCM

  • CCM funding was also at its highest since 2022, raising USD 117 million (+462.5% QoQ and +74.7% YoY) across six funding rounds. Around 64% of the total investments went toward suppliers (predominantly ingredients and bioreactor technology suppliers), with the majority planning to deploy funds to enhance operational capabilities and commercialize technology. Notable rounds included Mosa Meat’s USD 42.5 million and Prolific Machine’s USD 55 million Series B.

Alternative Ingredients

  • Alternative Ingredients funding slowed from a banner Q1 but remained higher than the quarterly average for the past three years. Despite raising over USD 115 million in Q1 2024, alternative ingredients startups only aggregated USD 68 million (-40.9% QoQ) this quarter across five funding rounds. Voyage Food’s USD 52 million Series A round was the largest contributor, while the remaining rounds accounted for just ~23% of total funding.
Please refer to Appendix 1 for the complete list of new funding updates.

Product updates: PBM innovations highlighted at the NRA show; CCM begins retail sales

Analyst Take: The National Restaurant Association (NRA) Show, the premier annual foodservice trade event held in May in Chicago, shined a light on PBM innovations from Chunk Foods, Oshi, and Tofurky, highlighting the potential of alternative meats in the foodservice space. PBM was a common theme at the NRA Show, with foodservice venues reporting improvements in their customer and sales figures, following the addition of plant-based products onto menus. Meanwhile, GOOD Meat, the pioneering company in the commercial sale of cultivated meat and the only one with regulatory approval in multiple countries, became the first ever to initiate retail sales of cultivated meat with the launch of its latest innovation, GOOD Meat 3, at Huber's Butchery in Singapore.

PBM and PBD&E

  • PBM product launches rose to a 2-year high with 39 new product launches. The plant-based pork segment recorded the highest level of activity (10 product launches), narrowly beating out plant-based beef (9) and poultry (8). However, the most significant surge was observed in the ingredients and technology segment (6 vs. 1 in the last quarter).
    • Tofurky unveiled new plant-based hot dog and deli slices at the NRA Show, along with Oshi (salmon filet) and Chunk Foods (Chunk slabs and cubes). Reports indicated there was a notable focus on plant-based meat alternatives at the NRA Show.
    • Beyond Meat’s release of the new Beyond Sausage as a part of its Beyond IV lineup and Juicy Marbles’ plant-based bone-in rib featuring a revamped recipe were among the major product launches.
    • In the ingredients space, Wamame Foods launched Outlier protein, a product claimed to offer higher protein content than other alternatives, while Nosh Biofoods unveiled its novel mycoprotein ingredient.
    • Notable technology developments included Clextral’s Galaxy Texturing Technology and DST’s Continuous High Shear technology. 
  • PBD&E observed an uptick in plant-based egg products, reaching a two-year high (five product launches), overshadowing traditional front runners like plant-based milk (4) and cheese (2), which showed somewhat subdued activity compared with the last quarter.
    • Notable plant-based egg-related activity during the quarter included Eat JUST’s launch of “JUST Egg v5,” the latest iteration of the world’s best-selling plant-based egg alternative. Spanish companies Revyve and AWEVO joined the mix, with Revyve launching its yeast-based egg replacement product and AWEVO debuting its first plant-based egg products into foodservice and retail.
    • In the meantime, NewMoo emerged from stealth with its liquid plant-based casein product for cheese production, while Armored Fresh introduced its Oat Milk Cheddar Dip at the NRA Show.

CCM

  • CCM product announcements increased despite regulatory headwinds, almost matching peak activity levels over a year ago. Geographically, announcements were spread over the US, the UK, Israel, Germany, and Singapore, with cell-cultured seafood (2) and ingredients (2) sharing the top spot.
    • GOOD Meat, the cell-cultured division of Eat JUST, added another notch in its belt by becoming the first company to begin retail sales of cell-cultured meat with the launch of GOOD Meat 3. It claims to offer the same taste, texture, and experience as conventional chicken but is on average 108% more expensive. The company, following its small-scale test at a restaurant in 2023, has not yet sold any cultivated chicken to US consumers but is reportedly focusing on process development at its plant in Alameda, California, working on new cell lines to enable more efficient large-scale production. 
    • Other notable developments included EFishient Protein completing its Tilapia cell line and Quest Meat’s launch of edible microcarrier replacements for the cultivated meat industry.

Alternative Ingredients

  • Alternative Ingredients product launches were concentrated on sugar reduction ingredients and technology. Sweegen launched Sweetensify, a sugar alternative range made from brazzein protein, and Better Juice expanded its sugar reduction technology to include sorbets and ice creams.
Please refer to Appendix 2 for the complete list of new product launches.

Partnerships: Incumbent activity spans the value chain; CCM collaborations focus on AI and robotics

Analyst Take: Food tech incumbents Unilever, Starbucks, CJ CheilJedang, Pulmuone, Cargill, and Danone inked strategic partnerships across the F&B value chain, focusing on product innovations, distribution channels, and production process improvement. CCM startups focused on integrating advanced tech like AI and robotics to enhance production processes. The intentions behind these partnerships include improving the efficiency and precision of production while reducing the risk of cross-contamination, real-time data collection and analysis, and development of sustainable mass-production systems.
  • The PBM space recorded the most partnership activity this quarter, followed by PBD&E, Alternative Ingredients, and CCM. Continuing its trend from previous quarters, product development partnerships accounted for the majority of PBM and PBD&E partnerships. 
  • Incumbent collaborations spanned across the F&B value chain, focusing on product launches, establishment of nationwide and global distribution channels, and the production process improvement, mainly in the PBM and Alternative Ingredients sectors. Notable partnerships include ABB’s and Pulmuone's collaboration to enhance lab-grown seafood production and Cargill's partnership with Voyage Foods to globally distribute cocoa-free confectionery products.

Notable incumbent partnerships in Q2 2024

Food Tech Q2 24 incumbent partnerships

PBM and PBD&E

  • PBM partnerships centered on the development of new alternatives. Collaborations between companies using mushrooms as a main ingredient were a common sight, while Steakholder Foods was the most active in terms of partnerships, even inking a cross-border collaboration.
    • Mush Foods partnered with Pat LaFrieda Meat Purveyors to launch mushroom-beef blended burgers, while Fable Foods teamed up with UK-based Asian restaurant chain Wagamama to unveil menu options made with Fable’s Pulled Shiitake.
    • Steakholder Foods’ collaborations included a partnership with Taiwan's Industrial Technology Research Institute (ITRI) to develop high-quality plant-based meat alternatives for local consumption as well as with Sherry Herring to launch vegan fish salads made using Steakholder's proprietary "SHFish'' premix blends.
  • Cross-industry innovation was evident in several collaborative efforts. Several disruptors in the PBD&E space ventured beyond the borders of alternative dairy and eggs, integrating its products with meat alternatives, performance coffee, and sports nutrition beverages. 
    • The EVERY Company and Unilever subsidiary The Vegetarian Butcher entered an agreement to enhance the taste and texture of plant-based meat products using EVERY EggWhite.
    • KernTech partnered with Berger-Schinken to infuse dairy-free cheese in plant-based sausages.
    • Turtle Tree teamed up with Cadence Cold Brew and Strive Nutrition to develop performance espresso and sports supplement products mixed with LF+ lactoferrin, respectively.
  • Several disruptors secured supply agreements for nationwide expansion. These were indicative of partnership-led growth strategies to increase market presence and thereby democratize access to plant-based alternatives. 
    • The Plant Based Seafood Co. made strategic moves by collaborating with Wegmans Food Markets to increase its sales points by 80. 
    • Pleese Cheese partnered with Performance Food Group to further increase its already substantial foodservice presence and MyForest Foods inked a retail agreement with Good Eggs, bringing its US retail footprint to 550+ stores.
  • Foodservice collaborations took a back seat. We saw just three foodservice collaborations during the quarter (compared with seven during Q1 2024). 
    • UNLIMEAT partnered with Starbucks Hong Kong to launch a vegan pulled pork wrap.
    • THIS expanded its partnership with Pieminister to launch a new plant-based pie.
    • Tender Foods teamed up with Clover Food Labs to expand the number of foodservice outlets in the Boston Metro area.

CCM

  • Tech integrations to enhance production processes took prominence. Disruptors looked toward emerging technologies like AI and robotics to optimize their R&D processes. The intention behind these partnerships included improving the efficiency and precision of production while reducing the risk of cross-contamination, real-time data collection and analysis, and the development of sustainable mass-production systems. Notable collaborations included the following:

Alternative Ingredients

  • Collaborations concentrated on ingredient replacements. This was split between disruptors in the beanless coffee, cell-cultured and fermented protein ingredients, and cocoa-free chocolate segments. 
    • MycoTechnology partnered with Macalat to develop sugar-free dark chocolate bars.
    • Atomo Coffee inked supply agreements with Bluestone Lane to increase distribution of beanless espresso in the US.
Please refer to Appendix 3 for the complete list of partnerships.

M&A: Ahimsa Companies acquires Wicked Kitchen in cross-border deal

  • We observed only one acquisition during the quarter, compared with nine in Q4 2023 and four in Q1 2024. Moreover, unlike in recent quarters, there were no distressed acquisitions, hinting at a probable sector recovery.
  • UK-based Wicked Kitchen and its associated brands, Good Catch and Current Foods, were acquired by Ahimsa Companies, a US holding company owned by the Ahimas Foundation. The acquisition was strategic, with the aim of propelling the growth of plant-based consumer packaged goods (CPGs). The company has a significant presence in several countries, including the UK, US, Finland, and Thailand, and offers items like plant-based ready meals, pizzas, burgers, chorizo, meatballs, deli meats, katsu chicken, and sausages. Together with Ahimsa Companies, it plans to diversify its reach in the retail and foodservice spaces as well as continue investing in innovation to expand product variety. 

Summary of notable food tech startups added in Q2 2024


Appendices

Appendix 1: Funding rounds in Q2 2024 by industry


Appendix 2: New product launches in Q2 2024 by industry


Appendix 3: Partnerships in Q2 2024 by industry

Featured companies

Meati
Meati Foods is a consumer goods company that provides fungi-based meat alternatives to everyone. It focuses on using proprietary, clean technologies to provide nutrient-dense, plant-based meat alternatives...
HQ:
Boulder, CO
Funding:
USD 374.5 million
Prolific Machines
Prolific Machines is a biotech company developing cell technologies to redefine how cells are produced for a sustainable and healthy future. It combines cutting-edge technologies to enable cell production...
HQ:
San Francisco, CA
Funding:
USD 97.0 million
Voyage Foods
Voyage Foods is securing the future of our favorite foods. Many of the foods we love face uncertain futures due to a range of health, environmental and social reasons, and it will soon become harder to...
HQ:
Oakland, CA
Funding:
USD 117.3 million
Chunk Foods
Chunk Foods makes clean-label, plant-based whole-cut products. Chunk Foods uses cutting-edge technology to create delicious and nutritious food while also protecting the environment. Chunk Foods' products...
HQ:
Tel Aviv
Funding:
USD 24.5 million
Tofurky
Tofurky is a family-owned food company that produces kosher and vegan food items with organic soybeans and organic tofu. It offers two lines of products: Tofurky and tempeh. The company’s Tofurky products...
HQ:
Hood River, OR
Funding:
USD 7.0 million
Eat Just
Eat Just offers a plant-based egg substitute intended to provide healthy and nutritional food alternatives. It applies innovative science and technology to create healthier, more sustainable foods the...
HQ:
San Francisco, CA
Funding:
USD 465.0 million
Unilever
Unilever produces and supplies fast moving consumer goods in food, and home and personal care product categories in Europe, the Americas, Asia, and Africa. It offers soups, bouillons, sauces, snacks, mayonnaise,...
HQ:
London
Funding:
USD 20.9 million
Starbucks
Starbucks is an international chain of restaurants that retails handcrafted coffee, tea, and fresh food items. With 23,132 stores in 65 countries and territories, Starbucks serves hot and cold drinks,...
HQ:
Seattle, WA
Funding:
USD 900.0 million
Cargill
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....
HQ:
Minneapolis, MN
DANONE
Danone is a leading global food and beverage company operating in three health-focused, fast-growing, and on-trend Categories: Essential Dairy & Plant-Based products, Waters, and Specialized Nutrition....
HQ:
Paris
Funding:
USD 700.0 million
Beyond Meat
Beyond Meat is a food processing company that specializes in providing plant-based meat. The company aims to make a positive impact on four growing global issues such as human health, climate change, constraints...
HQ:
Manhattan Beach, CA
Funding:
USD 158.1 million
Juicy Marbles
Juicy marbles make thick juicy and marbled plant-based steaks. They are a food-tech company. They developed proprietary protein texturing technology that enables us to produce plant-based whole cuts. Our...
HQ:
Kamnik
Funding:
USD 4.5 million
Top Tier Foods
Top Tier Foods is a Canadian food company based that specializes in developing plant-based specialty foods including sushi fish....
HQ:
Vancouver, BC
Vow
Vow is defining a new category of food using cultured meat technology. Rather than breeding and slaughtering animals, Vow is a producer of meat aimed to make their product from meat cells. The company's...
HQ:
Sydney
Funding:
USD 55.9 million
Solar Foods
Solar Foods is a food-tech startup that specializes in testing a technology that uses electricity to produce hydrogen which is combined with carbon dioxide, water, vitamins, and minerals to feed and grow...
HQ:
Helsinki
Funding:
USD 66.2 million
MOA
MOA make healthy food for a sustainable world that solves growing global food demands. They are establishing a new industry of sustainable food that solves growing global food demands without the need...
HQ:
Pamplona
Funding:
USD 5.0 million
Enifer
Enifer is a mycoprotein company that produces fungal fermentation products to upcycle agrifood industry byproducts. The company's method enables the efficient production of a single-cell protein from fish...
HQ:
Espoo
Funding:
USD 52.4 million
THIS
THIS is a plant-based meat brand that provides alternative meat products for meat lovers. The company's products are made of plant-based ingredients that are fortified with vitamin B12 and iron, enabling...
HQ:
London
Funding:
USD 78.4 million
Tender Food
Tender Food is a food technology startup that specializes in creating plant-based and cultured meat products. The company was founded by researchers from Harvard University and has developed novel fiber...
HQ:
Somerville, MA
Funding:
USD 23.3 million
Onego Bio
Onego Bio is a food-based biotechnology company that produces animal-free egg white protein through precision fermentation. Their ingredient, Bioalbumen, sets a new standard for sustainable protein with...
HQ:
Helsinki
Funding:
USD 71.1 million
Mosa Meat
Mosa Meat produces slaughter-free hamburgers. The burger is harvested from cow cells, rather than raising and slaughtering a whole animal. By growing meat naturally from cells, Mosa Meat strives to accelerate...
HQ:
Maastricht
Funding:
USD 138.4 million
Liberation Labs
Liberation Labs is a biotech firm developing an industrial agricultural biotechnology system. It focuses on infrastructure that commercializes novel protein manufacturing at the scale. The company invests...
HQ:
New York, NY
Funding:
USD 90.4 million
Ever After Foods
Founded in 2022, Ever After Foods is a spin-off from Pluri Inc and is backed by the Tnuva Group. Ever After has developed a patented bioreactor platform which it claims to be highly scalable and cost effective....
HQ:
Haifa
Funding:
USD 10.0 million
Oshi
Oshi consists of culinary researchers on a quest to produce full, boneless fish slices made entirely of plants! Oshi are producing fish fillets that are delicious, nourishing, and sustainable thanks to...
HQ:
Rehovot
Funding:
USD 14.5 million
Nosh Biofoods
Nosh Biofoods is a developer of traditional meat.It produces technical-functional components and nutritional protein by utilising manufacturing technologies to explore natural microbial biodiversity....
HQ:
Berlin
Funding:
USD 3.6 million
Dutch Structuring Technologies
DST develops and produces the next generation plant-based meat and fish substitutes. Our patented novel technology is the game changing successor to existing production techniques outperforming in terms...
HQ:
Maastricht
Clextral
Clextral is a manufacturer and supplier of industrial pumps for chemical and energy sectors located in Tampa....
HQ:
Tampa, FL
Revyve
Revyve produces animal-free food ingredients from microorganisms. The company's premium ingredients include emulsifiers, heat-set gels, and foaming agents. It helps customers with special protein functionality...
HQ:
Wageningen
Funding:
USD 9.4 million
AWEVO FOODS
AWEVO FOODS is a Madrid-based food and beverage manufacturing company specializing in plant-based egg alternatives...
HQ:
Madrid
Newmoo
Newmoo makes plant-based cheeses and dairy alternatives....
HQ:
Tel Aviv
Funding:
USD 7.0 million
Armored Fresh
Armored Fresh is a food company that produces plant-based cheese from almond milk. It aims to create a more sustainable world by producing cheese that is better for people and animals. It also wanted to...
HQ:
Seoul
Funding:
USD 27.0 million
E-Fishient Protein
E-Fishient Protein was born out as joint venture between BioMeat FoodTech and the Volcani Institute of Israel. It develops cultivated fish meat to find a sustainable solution for the demand of fish meat...
HQ:
Petah Tiqva
Quest Meat
Quest Meat offers a range of healthy, nutritious, and economical products. They create guilt-free meats. They take small samples of tissue from an animal. after examination, they put them in to completely...
HQ:
Birmingham
Funding:
USD 324.5 thousand
Sweegen
Sweegen is led by CEO Steven Chen. Sweegen's zero-calorie high-intensity sweet protein is heat-stable and 500 to 200 times sweeter than regular sugar, making it very attractive to food and beverage manufacturers...
HQ:
Rancho Santa Margarita, CA
Better Juice
Better Juice was founded in 2017 by a team of prestigious food industry professionals: a biochemist and microbiology academician with extensive experience in product development. The company is supported...
HQ:
Ashdod
Funding:
USD 8.6 million
ABB
ABB is engaged in power and automation technologies. The company provides a range of products, systems, solutions, and services. Its power businesses focus on power transmission, distribution, and power-plant...
HQ:
Zürich
Funding:
USD 548.6 million
Pulmuone
Pulmuone manufactures and markets natural health food products....
HQ:
Seoul
CJ CheilJedang Corp.
CJ CheilJedang is a core subsidiary in charge of the food and bioengineering business Unit of the CJ Group. It has led the development of the Korean food industry for the past 60 years, and contributed...
HQ:
Seoul
The EVERY Company
The EVERY Company is the market leader in engineering, manufacturing and formulating animal-free, animal proteins as ingredients for the global food and beverage industry. Leveraging advanced fermentation...
HQ:
South San Francisco, CA
Funding:
USD 239.8 million
Mush Foods
Mush Foods is a NY-based food-tech company that grows edible mushroom mycelium. 50CUT, the first product line, is the only product in the world that seamlessly blends with real animal meat. This reduces...
HQ:
New York, NY
Funding:
USD 7.5 million
Fable Food
Fable Food Co is a meat alternative company known for its meaty food made from mushrooms, which are clean label, minimally processed and made with all natural plant-based ingredients. The products are...
HQ:
Sydney
Funding:
USD 14.9 million
Steakholder Foods
Steakholder ($STKH) is a publicly traded company on Nasdaq, 3D printing a new frontier in protein manufacturing. Our mission is to provide manufacturing solutions that craft sustainable, delicious alternative...
HQ:
Rehovot
Funding:
USD 31.6 million
Kern Tec
Kern Tec is a maker of fruit kernels used to create new food products from stone fruit pits. Their products, which are made from cherries, apricots, and plums, are expertly refined into high-quality raw...
HQ:
Herzogenburg
Funding:
USD 13.6 million
The Plant Based Seafood Co
Founded by mother-daughter duo Shelly Van Cleave and Monica Talbert, The Plant Based Seafood Co. leverages the founders' previous success in creating gourmet seafood delicacies to produce plant-based seafood...
HQ:
Gwynn, VA
Funding:
USD 75.0 thousand
Pleese Cheese
Pleese Foods is an allergen-friendly plant-based cheese company. It helps people transition from traditional dairy with Pleese, a plant-based cheese made from all-natural ingredients. Pleese offers boldly...
HQ:
New York, NY
Funding:
USD 200.0 thousand
Unlimeat
Unlimeat is a company that produces plant-based meat. Its plant-based meat can be used in a wide range of dishes, ensuring that its plant-based meats are ideal for both Eastern and Western cuisine. It...
HQ:
Seocho
Funding:
USD 45.3 million
Aleph Farms
Aleph Farms is an Israel-based food technology company designing new ways to grow quality animal products that improve sustainability, food security and animal welfare in our food systems. Founded in 2017,...
HQ:
Rehovot
Funding:
USD 119.4 million
MycoTechnology
MycoTechnology utilizes fungi-based food-processing platforms to transform the flavor and value of agricultural products. The platform can be used to solve a variety of challenges faced by the food, beverage,...
HQ:
Aurora, CO
Funding:
USD 207.6 million
Atomo Coffee
Atomo Coffee is a developer of molecular coffee. Atomo has reversed engineered the coffee bean to create a smooth cup of coffee, made of naturally derived ingredients, and more sustainable than current...
HQ:
Seattle, WA
Funding:
USD 53.2 million
Wicked Foods
Wicked Kitchen is a pioneering, chef-driven range of delicious plant-based foods that unleash the power of vegetables....
HQ:
Minneapolis, MN
Funding:
USD 34.0 million
Ahimsa Foundation
Ahimsa Foundation operates as an investment firm....
HQ:
Niwot, CO
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