Peter Rosholm plans to retain the US staff and invest a “substantial” sum to expand capacity, AgFunderNews has learned.
Plus: The “regenerative” versus “organic” debate rages on.
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.
Judge concludes that the FDA “acted arbitrarily and capriciously” in treating tagatose, a non-glycemic, non-cariogenic, rare sugar, differently to fellow sweetener allulose on US food labels.
Integrating smallholder farmers into digital ag can help meet the EUDR objectives while also making farming more inclusive and sustainable.
“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.”
Plus: Matt Crisp joins Alpine Bio, AgroSpheres gets EPA approval on pesticide.
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.”
Reaching sustainability targets could be a big driver for M&A deals in the dairy sector, according to RaboResearch.
Plus: Delivery Hero plans an IPO in the Middle East, Mycorena gets acquired.
ZBiotics will expand its retail footprint as well as bring more use cases for its genetically engineered probiotics to market.
New School Foods has also unveiled a pilot facility that will enable commercial-scale production of its whole-cut plant-based salmon.
Plus: High-protein foods maker David and a hand full of others announced new funding.
Plus… Impossible Foods opens a brick-and-mortar store while Florida’s cultivated meat battle rages on.
Existing single-cell suspension stir tank bioreactors “can’t be used to effectively produce non-GM, cultivated muscle and fat,” claims Mission Barns.
According to former COO Edward Smolyansky: “Under my sister Julie’s authority… there’s no clear strategic plan or vision for employees to rally behind, and many have expressed concerns.”
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