Given the “fragility of its financial situation and the weak consumption patterns in the meat alternatives category,” Beyond Meat faces an “existential threat,” say analysts at TD Cowen.
UPSIDE Foods aims to break ground on a commercial-scale cultivated meat facility in Glenview, Illinois, later this year that will become operational in 2025.
Two or three years ago, investors were throwing bucketloads of cash at foodtech companies, particularly those in alt proteins. Not any more. So what’s changed?
Alt meat startup Meati Foods has embarked on its second round of layoffs in three months but says its confidence in its long-term prospects remains ‘unwavering.’
Like everything else, food is political. But becoming embroiled in the culture war isn’t good for alt meat, says the CEO of Impossible Foods.
Beyond Meat CEO Ethan Brown faced a grilling from analysts after posting a grim set of second quarter results and a reduced forecast for the full year.
San Francisco-based plant-based chicken startup Nowadays has ceased operations due to an inability to raise ventures funds in this market,” AgFunderNews has learned.
New York based LIVEKINDLY Collective (LKC) has expanded its plant-based portfolio with the acquisition of Glendale, California-based Alpha Foods.
Molecular farming startup IngredientWerks has genetically engineered corn crops to express high levels of bovine myoglobin in a process it claims can scale at a fraction of the cost of precision fermentation.
US retail sales of plant-based meat alternatives have continued to decline, falling 12.6% to $106.8m in the five weeks to July 2, with units down 19.8% year-over-year.
Tattooed Chef—best known for its plant-based bowls, zucchini spirals, and plant-based pizza—intends to file for bankruptcy protection.
Cultivated meat startup Omeat has emerged from stealth armed with $40m to fund a novel approach to making meat from animal cells.
UK-based alt meat brand VFC has acquired distressed meat-free brand Meatless Farm, which laid off most of its staff earlier this month after a key investor expected to provide a capital injection backed out.
The US Patent Trial and Appeal Board (PTAB) has agreed to review a patent granted to Impossible Foods following a petition by Motif FoodWorks, which is being sued by Impossible for patent infringement.
Loss-making UK-based plant-based meat startup Meatless Farm has laid off most of its staff after failing to secure additional funds to help it stay afloat.
MyForest Foods—a New York-based startup making whole cuts of meat from mushroom mycelium—has raised $15 million in Series A-2 funding and hired Greg Shewchuk as its new CEO.
Impossible Foods’ lawyers did not violate rules of professional conduct by hiring private investigators to pose as potential customers in order to obtain product information and samples from Motif FoodWorks as the companies clashed over IP, a court has ruled.
Fungi-fueled alt meat startup Meati Foods has laid off 17 of its 300 employees this week, three months after opening a new production facility in Thornton, Colorado, but says the move does not reflect weak demand for its products.
Motif FoodWorks has accused Impossible Foods of hiring private investigators to pose as potential customers to “covertly” obtain information about Motif’s business that could influence ongoing litigation between the warring foodtech companies and “circumvent the discovery process.”
Beyond Meat CEO Ethan Brown says he is confident of returning to growth and achieving cashflow positive status in the second half of this year, after posting a 17.7% decline in net revenues to $195.5m in the first quarter of 2023.
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