Beyond Meat Jerky, the first product to emerge from the firm’s JV with PepsiCo, is being discontinued less than two years after launch.
Under new leadership, Meati Foods will “continue the work to right size the company’s workforce and accelerate the path to profitability” says the firm.
“My view of the market is that we had a bit of a hype cycle, but the underlying trends [driving alt protein] are there,” says ENOUGH CEO Jim Laird.
Funding for cultivated meat peaked at $989m in 2021, dipped slightly to $807m in 2022, then dropped sharply to just $177m in 2023.
Cultivated meat startup GOOD Meat has upped the ante in its increasingly ugly legal dispute with bioreactor specialist ABEC over alleged nonpayment of bills by filing a series of counterclaims.
At a time when many alt protein companies are struggling to raise funds, Infinite Roots (formerly Mushlabs) has netted $58m from investors including German food retail giant (REWE) and the holding company behind Haribo (HRH).
Mush Foods is launching its 50CUT mycelium blends in the US market following a successful launch of its b2b ‘meat-plus’ concept in Israel.
Bioreactor specialist ABEC claims it is owed $100m in cash and stock for work done on Eat Just’s GOOD Meat cultivated meat business.
With sales declining, gross margins in negative territory, and debts of $1.1bn, what’s next for Beyond Meat?
However, the number of High Risk companies decreased for the first time ever, according to the Coller FAIRR Protein Producer Index.
The plant-based protein market has been experiencing “destocking and consumer demand softness,” says ADM.
The binder will be available in the US in 2024 as part of a multi-year agreement between Plantible and ICL.
Moolec Science – a startup developing a molecular farming platform to produce plants that express animal proteins – has raised $30m from strategic investors via convertible notes.
When you’re on a tight budget, your execution must be “flawless,” says Juicy Marbles CEO Tilen Travnik. “If something is not as tight as it should be, it keeps me up at night because it immediately translates into cash flow.”
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.
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