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Meatless Burger King, Oatly Eyes Plant-Based Cheese, Bowery Raises $300M + More

Source: Vegconomist Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t…

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Source: Vegconomist

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

After its $13 billion debut on the stock market last week, Oatly has announced plans to create a lineup of plant-based cheeses in the long term. Burger King will be opening its first ever meat-free location in Germany.

In other news, indoor farming startup Bowery has raised a whopping $300 million after experiencing exponential growth through the pandemic.

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Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.


 

1. Newly Public Oatly Eyes Plant-Based Cheese as the Next Frontier – Bloomberg

The company is considering creating a lineup of different oat-based cheeses in the long term, with types tailored for local markets.

2. Indoor Farming Company Bowery Raises $300MTechCrunch

The funding comes as Bowery has experienced some impressive real-world growth, touting a 750% increase in availability since January of last year. Its produce is now available at 850 grocery stores.

 

3. Cell-Cultured Meat on Store Shelves This Year? It’s Unlikely – The Counter

Memphis Meats has rebranded as Upside Foods, and the company now predicts its lab-grown chicken will be ready for consumers in 2021. The US government suggests otherwise.

 

4. Burger King to Open Meat-Free Outlet in Germany’s Cologne This SummerGreen Queen

The fast food giant is set to open the world’s first meatless burger king outlet in Germany, which will offer plant-based meats created by Unilever-owned The Vegetarian Butcher.

 

5. SBA Will Close Restaurant Revitalization Fund on Monday – Just 3 Weeks After Opening – Restaurant Dive

More than $220m of the $500m set aside for businesses with less than $50k in pre-pandemic revenue is still available.

 

6. Oatly Debuts at $13B Valuation, but Execs Say Plant-Based Industry ‘Still Has Work to Do’ – AFN

Oatly appears to fit squarely into an ESG portfolio for public market investors, especially in comparison to many companies being touted as ESG bets.

 

7. Organic Food Sales Hit Record $56.4B in 2020Food Dive

Total sales of organic fruit and vegetables reached $20.4b in 2020, pushed by a more than 28% jump in frozen. Sales of organic meat, poultry and fish rose nearly 25% to reach $1.7b.

 

8. TikTok, the Fastest Way on Earth to Become a Food Star New York Times

The app offers explosive growth for content creators. Gen Z cooks are taking advantage.

 

9. Instacart Plans to Expand GloballyGrocery Dive

The e-commerce provider named a Facebook veteran to lead the company’s long-term global strategy and explore new markets.

 

10. Spain: Glovo Splurges $280M on Three Delivery Hero Brands in the BalkansTechCrunch

The acquisitions suggest Glovo sees a chance to eke out profitable potential in more of Central Europe.

 

11. Invaio Raises $89M to Accelerate Commercialization of Its Injectable Bio-InputsAFN

The startup is aiming to tackle a variety of crop health challenges for the perennial, row crop and vegetable industries by combining a variety of technologies and approaches.

 

12. The Yield Lab Europe Secures $61M for Sustainable Agrifoodtech Fund AFN

The fund will consider investments in a broad range of startups – though gene editing, genetically modified organisms,  cannabis and B2C segments such as branded consumer foods — are outside of its ambit.

 


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