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.
If we’re being brutally honest, most plant-based cheese brands are over-promising and under-delivering, says the founder and CEO of alt dairy startup Stockeld Dreamery.
The Swedish biotech company will take its mycelium-based protein ingredient from prototype stage to commercial-scale production by 2023.
The Stockholm-based startup claims its platform has tracked over 8,000 suppliers, 250,000 products, and goods worth more than $12 billion to date.
The Swedish startup plans to add spreadable and melt-friendly products to its range of cheeses fermented from fava bean and pea protein.
Under-fire Oatly had accused the UK’s Glebe Farm, which produces an oat-based milk called PureOaty, of infringing its trademark rights.
Glebe Farm owner Phillip Rayner said that “although Oatly are much bigger than us, we do not believe we have done anything wrong.”
It’s aiming to build “the world’s largest algae factory” to supply raw material for a feed supplement that can reduce livestock methane emissions by up to 80%.
Oatly appears to fit squarely into an ESG portfolio for public market investors, especially in comparison to many companies being touted as ESG bets.
Stockeld Chunk is made from peas and fava beans and is the result of more over two years of R&D, co-founder Sorosh Tavakoli told the Future Food podcast.
Oatly expects to raise at least $100 million through its NASDAQ float, but may seek a further listing in Hong Kong depending on geopolitical and business considerations.
The Swedish startup – which recently filed for an IPO in the US – is building its first production facility in Asia to target China’s lucrative dairy products market.
The Swedish company has retained investment banks Morgan Stanley, JPMorgan Chase, and Credit Suisse to manage the offering, according to sources familiar with the matter.
VEAT, which sells plant-based meals out of its vending machines, is rolling out across Stockholm – with other European cities in its sights.
Oatly’s new celebrity backers are becoming seasoned agrifood investors, with the Swedish alt-milk maker just the latest bet they’ve made in the space.
Bjorn Oste started working with his oat milk-inventing brother Rickard in the 1990s to build Oatly, Sweden’s widely-recognized plant-based milk company.
Interesting things are happening in the Nordics. MatHem (literally “Food Home”), the market leader in online groceries in Sweden, has teamed up with a local financial colossus and industrial enfant terrible to re-draw the food map, writes Johan Jorgensen.
Noquo has yet to settle its core ingredient(s), admitting it’s a hard problem to crack, but a list of heavyweight investors clearly thinks the team can go the distance.
LeadX Capital Partners, which is backed by German retailer Metro Group, led the round, joined by the likes of Ingka Group (IKEA), Northzone, D-Ax, and Norrsken.
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