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
    • Planted
    • Glovo
    • Bluu
    • FoodTracks
    • Blue Horizon Ventures
    • Atlantic Food Labs
    • Synthesis Capital