Connect with us

World News

This week in food tech: New fund shows food investments are still simmering on July 30, 2023 at 1:02 pm

Published

on

If you’re adventurous with your food, or just like to keep up with the fast-moving food tech industry, here’s a roundup of this week’s stories and some notable news we weren’t able to cover.

Supply Change Capital

The venture capital fund madness we’ve seen all year has made its way to the food sector. This week, I wrote about Supply Change Capital, which closed on $40 million in capital commitments for its first fund, targeting investments in the global food industry.

The female and Latina-owned firm is spearheaded by co-founders and managing partners Noramay Cadena and Shayna Harris, who met 14 years ago in business school.

Advertisement

The firm has already made 15 investments, including in allergen-free snack food company Partake Foods, ingredients startup Michroma and alternative seafood maker Aqua Cultured Foods.

Supply Change joins firms like Joyful Ventures, which debuted in June with $23 million, focused on investment in sustainable protein startups. Joyful was co-founded by Jennifer Stojkovic, Milo Runkle and Blaine Vess and has made two investments from the fund, including New School Foods and Orbillion Bio.

Global investment in food tech and agtech startups were 44% lower than in 2021, totaling $29.6 billion last year. Granted, 2021 had record-breaking investments into this space, but with all this dry powder on the sidelines, it looks promising for the next year.

As seen in TechCrunch

Brevel sprouts $18.5M to develop microalgae-based alternative proteins

Advertisement

Microalgae is everywhere, it seems. This week, Brevel announced a large seed round that will go toward developing microalgae into an alternative protein powder that can be used in foods.

What else I’m reading

Cultivated beef, it’s what’s for dinner in Europe: Israel’s Aleph Farms gears up to sell first cultivated beef cuts in Europe.

New to the aisles of Whole Foods Markets: Actual Veggies expands at the grocery chain amid over 300% growth in the past year. Meati Foods makes its national launch in 46 states (here’s more about them). And Konscious Foods debuts its frozen, plant-based sushi there.

Egg-citing growth: Yo! Egg makes its nationwide launch via a partnership with Veggie Grill. Read our coverage of the company, especially as it relates to the recent hike in traditional egg prices.

Advertisement

Smooth to the touch: MycoWorks unveils plastic-free leather alternative for luxury fashion brands. Read more about our coverage of this company making “leather” from mushrooms.

Gordon Ramsay likes ramen: Gordon Ramsay partners with vegan ramen brand. See who else has plant-based ramen.

Brewing up some M&A: RTD cold brew maker High Brew acquired by Beliv. Ready-to-drink is big; read more.

If you have a juicy tip or lead about happenings in the venture and food tech worlds, you can reach Christine Hall at chall.techcrunch@gmail.com or Signal at 832-862-1051. Anonymity requests will be respected. 

Advertisement

​ If you’re adventurous with your food, or just like to keep up with the fast-moving food tech industry, here’s a roundup of this week’s stories and some notable news we weren’t able to cover. Supply Change Capital The venture capital fund madness we’ve seen all year has made its way to the food sector. This 

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

TikTok Sues US Gov’t

Published

on

TikTok is suing the US government to stop the enforcement of a bill that seeks to force the app’s Chinese owner to sell the app or face a ban. The lawsuit argues that the bill violates constitutional protections of free speech and is an “unprecedented violation” of the First Amendment.

Visit of Shou Zi Chew, CEO of TikTok, to the European Commission

Background

  • The bill, the Protecting Americans from Foreign Adversary Controlled Applications Act, was passed last month.
  • The lawsuit was filed in the US Circuit Court of Appeals for Washington, DC.
  • TikTok argues that the bill is a permanent, nationwide ban on a single speech platform and restricts free speech without sufficient reason.

Consulting Firm for your Brand and Film

Government Response

  • The Department of Justice has not commented on the lawsuit.
  • A White House spokesperson directed a request for comment to the Justice Department.
  • John Moolenaar, chairman of the House Select Committee on the Chinese Communist Party, stated that TikTok poses a grave risk to national security and the American people.

Legal Proceedings

  • The lawsuit is expected to add to an already lengthy timeline for a potential ban or sale of the app.
  • ByteDance, TikTok’s Chinese owner, already had over a year to make a move, and legal proceedings will pause the timeline, meaning it could be years before a ban goes into effect.

TikTok’s Efforts

  • TikTok has made efforts to assure the public and US officials that it takes data security seriously.
  • In 2022, the company started “Project Texas,” a move meant to provide data security and transparency around the information the app collects about US users.

Conclusion

  • The lawsuit states that Congress has not offered any evidence suggesting that TikTok poses data security risks or foreign propaganda spread that could justify the law.
  • TikTok claims the law violates the right to due process under the Fifth Amendment and is an unconstitutional bill of attainder.

Continue Reading

Business

Universal Music Group & TikTok Partner in New Licensing Agreement

Published

on

In a monumental move, Universal Music Group (UMG) and TikTok have announced a pioneering licensing agreement that will transform the music landscape. This historic deal unites UMG’s vast music catalog with TikTok’s massive user base, unlocking unprecedented opportunities for artists, songwriters, and fans worldwide.

Visit of Shou Zi Chew, CEO of TikTok, to the European Commission

A New Era for Music Consumption and Monetization

The agreement marks a significant milestone in the UMG-TikTok relationship, allowing users to once again create videos featuring music from global superstars and emerging talent. The deal also paves the way for innovative monetization opportunities, with TikTok investing in artist-centric tools and campaigns to support UMG artists across genres and territories globally.
A Shared Commitment to Valuing Music and Creativity
Sir Lucian Grainge, Chairman and CEO of UMG, and Shou Chew, CEO of TikTok, hailed the agreement as a “new chapter” in their partnership, built on a shared commitment to promoting the value of music, human artistry, and the welfare of the creative community.

Sir Lucian Grainge, Chairman and CEO of UMG on the left of the photo.

Addressing Generative AI Concerns
The deal also tackles concerns around generative AI, with TikTok committing to work with UMG to ensure that AI development in the music industry protects human creativity and the economics that flow to artists and songwriters.
Deeper Connections and Responsible AI Development
Ole Obermann, TikTok’s Global Head of Music Business Development, emphasized that the agreement will “create deeper connections between artists, creators, and fans” and ensure that AI tools are developed responsibly to enable a new era of musical creativity and fan engagement.
Transformational Partnerships and Advancements
Michael Nash, Chief Digital Officer and EVP of UMG, welcomed the renewed relationship with TikTok, citing the potential for “transformational partnerships” and “significant advancements” in commercial and marketing opportunities, as well as protections for UMG’s industry-leading roster.
A Win for the Music Industry
This groundbreakingagreement is a major victory for the music industry, which has long sought to strike a balance between promoting artistic creativity and protecting the rights of artists and songwriters in the digital age. With UMG and TikTok working together, the possibilities for innovation and growth are endless, and fans can look forward to enjoying music from their favorite artists in new and exciting ways.
Thanks for reading! If you’re interested in reaching an engaged audience and growing your brand, consider advertising with Bolanle Media. Our platform offers a range of opportunities to connect with our readers and promote your products or services. Contact us at Hello@bolanlemedia.com to learn more about our advertising options and how we can help you achieve your marketing goals.

Continue Reading

News

House of Lords to Host Nigerian Innovators

Published

on

Clean Cyclers, alongside Sustainability Unscripted and other sustainability partners, is gearing up to host the 3rd Edition of the Global Sustainability Summit in the United Kingdom. Scheduled for March 28 – 29, 2024, at the prestigious House of Lords in the Palace of Westminster, the summit aims to raise awareness, promote collaboration across disciplines, tackle global challenges with local solutions, and advocate for social equity.

Canon Otto, the organizer and founder of Clean Cyclers, emphasized the summit’s commitment to inclusivity, prioritizing climate action, environmental stewardship, and identifying policy pathways for sustainable development. Under the theme “Advancing Sustainability, a Journey Towards a Greener Future,” the summit will gather leading visionaries, experts, innovators, and change-makers from global corporations, organizations, and government agencies to brainstorm strategies for adopting the 2030 Sustainable Development Goals.

Sustainability Businessman Otton Canon

The summit will feature panel sessions addressing urgent topics such as climate action, circular economy, renewable energy revolution, sustainable cities, biodiversity conservation, green finance, sustainable agriculture, and climate justice. Additionally, it will recognize and celebrate companies, governments, organizations, and individuals demonstrating commitment to sustainability through practical initiatives and the realization of short-term objectives and long-term goals.

In a statement, the organizers highlighted the broad spectrum of sustainability practices, policies, and innovations aimed at mitigating climate change, conserving biodiversity, protecting natural resources, and promoting social equity. The theme “Advancing Sustainability” underscores the need for a shift from short-term exploitative approaches to long-term regenerative ones, reflecting humanity’s ability to learn, adapt, and innovate.

Advertisement

The summit aims to foster knowledge exchange, collaboration, and actionable solutions over two days of physical gathering at the House of Parliament in London. Participants will explore diverse perspectives, share knowledge, and work together to shape strategies that drive meaningful change and accelerate progress towards a sustainable future.

Continue Reading

Trending

0
    0
    Your Cart
    Your cart is emptyReturn to Shop