Despite strong recessionary signals, consumer spending in the food and business sector remains stable, with some indication that trading down to private label products is underway.
In This Issue:
Food Venture Financing Trends
- Torr Foodtech, an innovative startup that uses ultrasonic energy to develop snack bars, announced that it raised $12 million in its Series A round.
- Bira 91, an Indian craft beer maker startup, announced that it raised $70 million in its latest fundraising round. The round was led by Japanese beer company Kirin Holdings.
- Post Holdings CEO announced in its latest quarterly earnings call that the company is seeking M&A opportunities to expand its portfolio. This signal is a positive sign for foodtech startups that are facing a challenging economic environment.
CPG Corporate Venture and Private Equity Funds
This week's featured CPG Corporate Venture and Private Equity Fund is BE8 VENTURES.
- Be8 Venture is a Berlin-based growth stage venture capital fund focusing on food and beverage chain with a strong commitment towards innovation throughout the entire food and beverage value chain (i.e. Innovative Food, E-Grocery, Retail & Gastro Tech, Packaging & Waste).
- Be8 Venture is funded by the Oetker group, the leading food producer in Europe.
- This VC fund invests in growing companies that shape tomorrow's food ecosystem located in Europe, Israel and North America.
- Portfolio companies include:
- New Culture
- Melt & Marble
- Blue Horizon Ventures
- Atlantic Food Labs
- Synthesis Capital