If you’re going to make dairy proteins via precision fermentation, it makes sense to start with the highest value ones, says Sydney-based All G, which is aiming to launch bovine lactoferrin next year followed by human lactoferrin in 2026, with casein proteins to follow.
Plenty of commentators—and jaundiced investors—may query the economics of insect agriculture given the struggles of some high-profile players. But what about the touted environmental benefits? Is it a given that it is more sustainable to feed animals insect protein than, say, corn or soybean meal?
Barcelona-based Heura made its name selling alt meat but has since developed novel texturizing technology that can be applied to everything from cheese to pasta.
“We use side stream raw materials rather than dextrose as feedstocks, and our product doesn’t go through the cold chain,” says Enifer cofounder Simo Ellilä.
“For me, supply is the absolute constraint in this [mycoprotein] market right now,” says ENOUGH CEO Jim Laird.
The JackFruit Company is growing at a double digit pace at a time when many other players in the alt meat segment are struggling, says founder and CEO Annie Ryu.
At Mosa Meat, says VP global public affairs Robert Jones, “We tightened our belts, we went back to the drawing board on the long-term strategic plan and got more focused.”
Eventually, says Andrew Ive at Big Idea Ventures, “It all shakes out and the less smart money decides to go chase the next opportunity. So we had foodtech, we had crypto, and now we have AI…”
Global demand for seafood is set to soar in the coming years, yet in the first half of 2024 funding was down 40% compared to the first half of 2023.
Kinoko-Tech, an Israeli startup specializing in fungi-based fermentation, has struck a deal with Metaphor Foods, the innovation arm of Hela, to produce its minimally-processed fermented foods in APAC.
The firm started protein production in Amiens over the summer, but needs to secure more funding to get to a scale whereby it can “ensure profitability.”
Multiple startups can now make casein proteins without cows. But do the unit economics add up? Israeli startup DairyX weighs in….
The Slovenian startup is “on a path to become profitable by the end of this year,” says cofounder and CEO Tilen Travnik.
The capital injection will be used to support entry into new markets, expand the product portfolio, scale production, and accelerate R&D.
Berlin-based fermentation startup Formo has raised a $61 million Series B round and launched cheeses featuring koji protein at 2,000+ REWE, BILLA, and Metro stores across Germany and Austria.
“If you even mention the word algae, some investors start running for the exits, so we have to prove we’ve cracked it and that we can own it,” says founder and CEO Nick Hazell.
The firm, which raised a $226m series B round in 2021 when money was cheap and interest in alt proteins was sky-high, has since struggled to navigate a more challenging environment, with investor sentiment souring on meat alternatives amid declining retail sales.
“The product is fantastic,” says Phil Graves, who took the helm in February. “But it was clear when I joined that the business needed to make some strategic shifts and needed to make them quickly.”
Asked whether he would remain in the CEO role, founder Dr. Oliver Zahn said: “TBD. In line with the commercial trajectory, we will be on the lookout for a strong commercial lead at the exec level, so I can focus on science and vision.”
The warring foodtech firms have agreed to dismiss the case with “each party to bear its own costs, expenses, and attorneys’ fees.”
