Twelve staff were let go with severance agreements at plant-based dairy co Miyoko’s Creamery this week, AgFunderNews has learned. The move follows a round of layoffs of a similar scope in February.
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.
Plantible Foods—a startup extracting a highly functional protein from the aquatic plant lemna—has opened a 140-acre lemna farm in Texas and launched its first product: a plant-based egg replacer it claims can “outperform eggs.”
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.
Jon Blair is stepping down as interim president at Miyoko’s Creamery at the end of the month, AFN has learned. A replacement has not been announced.
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.
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.
Miyoko Schinner and the board of the plant-based dairy company she founded have agreed to bury the hatchet, withdraw their respective lawsuits and end their very public spat.
Japanese dairy giant Megmilk Snow Brand Co is investing in plant-based proteins via a joint venture with Singapore-based Agrocorp International.
“Wood Milk started with a simple idea,” says actress Aubrey Plaza in a new spoof ad from MilkPEP, the dairy industry-backed body behind the iconic ‘Got Milk’ ads. “I saw a tree and I asked myself: Can I drink this?”
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.
Oatly is “ready to play offense in 2023” with a new CEO, a return to promotional activity, and sequential improvements in its gross margin, says the loss-making firm.
Burcon NutraScience says it is working with “additional industry participants” to acquire the assets of distressed plant protein processor Merit Functional Foods after the receiver rejected its initial bid.
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…
Court documents show Miyoko Schinner and the board of the plant-based dairy company she founded have agreed to go through an Alternative Dispute Resolution (ADR) process, although legal experts say it doesn’t necessarily mean that their very public dispute is simmering down.
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.
Better Bite Ventures, a fund focused on alt protein startups in APAC, has invested in four startups under its early-stage First Bite initative.
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