![NotMilk plant-based milk](https://agfundernews.com/wp-content/uploads/2023/08/NotMilk_lifestyle-2-300x238.jpg)
NotCo exits refrigerated plant-based milk segment in US, switches focus to shelf-stable
NotCo has exited the refrigerated plant-based milk segment in the US and is now focused on building its presence in the shelf-stable category.
NotCo has exited the refrigerated plant-based milk segment in the US and is now focused on building its presence in the shelf-stable category.
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.
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.
Agrifoodtech investment in Europe fell 46% to $5.1bn in 2022, consistent with a 44% drop in global funding. But there were some bright spots…
Precision fermentation startup The EVERY Co has teamed up with Alpha Foods to explore the potential of meat alternatives featuring ‘animal-free’ egg whites made with microbes instead of chickens.
Armed with $15m in seed funding from Fall line capital, the MIT E14 fund, and FootPrint Coalition, Israeli startup Chunk Foods is building a factory for its plant-based whole cuts of meat.
From ‘designer fats’ made by microbes to oleogels, the race is on to find replacements for animal fats in meat alternatives, say the founders of California-based startup Lypid.
US retail sales of plant-based foods rose 6.6% to $8bn in 2022, with growth in creamers, eggs, and butter partially offset by declines in meat, ice cream, and cheese, according to new reports from the Plant Based Foods Association (PBFA) and the Good Food Institute (GFI). Unit sales fell 3%.
“Meat alternatives have to win on taste, price and health,” says the CEO of fungi-fueled Australian startup Fable Food. “And we think mushrooms are the best route to do it.”
Sponsored
Farmers ‘ready and willing to try’ biological crop solutions. Only ‘strong business models’ need apply