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- FoodTech Weekly #32 by Daniel S. Ruben
FoodTech Weekly #32 by Daniel S. Ruben
News on FoodTech, food, and society
Daniel S. Ruben
January 15, 2021 • Estimated Reading Time: 11 minutes
FoodTech Weekly #32
Hi there,
Norrsken Foundation is launching the Norrsken Impact Accelerator, and I'm really proud to actively support it as one of a few venture partners. I'm joining an amazing group of co-founders, mentors, and advisors for this -- including e.g. Funda Sezgi (Norrsken), Ash Pournouri (Brilliant Minds,Aviciietc), Carl Manneh (Mojang/Minecraft), Ryan Bethencourt (FoodTech investor), Susanna Campbell, Eric Quidenus-Wahlforss (Soundcloud), and Björn Öste (Oatly), just to mention a few. Norrsken Impact Accelerator is a generalist accelerator but will have a special focus on FoodTech in 2021. The goal is to make the world a better place through technology, by creating impact unicorns that positively impact 1 billion people. The accelerator is alreadyaccepting applications; startups joining the cohort will receive $100k in exchange for 5% of equity. More in Sifted and The Spoon.
Norrsken House, Sweden
I was recently interviewed for an article called "Sweden’s foodtech sector is booming – this is what to expect from the tech hub in the north." The author also listed 11 promising Swedish FoodTech startups with global potential. (For an even more extensive list, see this mappingI did with Arman Anatürk from late last year).
I was also interviewed for the Swedish edition of The Economist's The World If magazine, for an article on the food system in 2029 (sorry, in Swedish only).
One final thing -- we just crossed 1,000 subscribers. I started this newsletter just 6 months ago, and I'm so grateful for each and every one of you. Thank you for reading, sharing, and commenting, every week.
Highlights
Conversations: David Kat (Wasteless)
Noteworthy: Vow Foods raises €6M for cell-based kangaroo meat; EFSA approves yellow mealworms for human consumption; Nick's raises $30M for its no-sugar-added ice cream; AcquaTap can pull water out of thin air
News from the FoodTech Weekly community
Random Stuff: Food marketing works. Printing a 3D steak. Keeping your husband on a tight leash. And more.
Conversations
Spoke with Netherlands-based David Kat of Wasteless this week. 'We need to show double-digit reductions in food waste if we want to reach the Paris goals. That means 11-12% reduction every year between now and 2030, to reduce food waste and loss by half', says David. Wasteless tries to help solve the food waste problem; in supermarkets, 8% of all perishable items (e.g. fruits and vegetables) are never sold. The company has developed an AI-driven markdown optimization engine. In practice, this means that fresh products are equipped with date enabled barcodes. The Wasteless AI engine then generates optimal pricing in real-time, and a shelf label (plus a consumer app) shows consumers the green discounts they can get. Wasteless helps supermarkets to reduce food waste and helps consumers save money and do something good for the environment. 'The food system is essentially trying to mop the floor while the tap is still running. If you went into a car factory and 30% of all engines were being discarded on the floor, we would be aghast. But food waste is invisible, to some degree. To stop waste, and to stop overproduction, we need data, to understand what's happening. Only then can we go from a supply-driven food system to a demand-driven food system', says David. Wasteless' aim is to help companies both upstream (farmers) and downstream (grocery retailers) understand why food waste is happening, and prevent it. The company, which is focused on the European market, is rolling out with the Metro grocery chain in Poland from April 2021. Wasteless has raised $6M to date and is currently raising a Series A round, where $3M is still available to investors. David would love introductions to food retailers that want to improve their bottom lines by optimizing markdowns based on expiry dates, to reduce food waste. And investors are very welcome to contact David, too. You can reach him here.
The Wasteless technology in action
Noteworthy
Australian cell-based meat startup Vow Food announced a $6M seed raise. The company builds a big library of cell lines from both domesticated and wild animal species (e.g. kangaroo, alpaca, and water buffalo) to produce cell-based meat. In related news, SuperMeat in Israel has disclosed that their production cost of a cell-based chicken burger is $35 -- in 2013, the first cell-based burger cost around $300,000 to produce.
Gramophone of Indora, India raised $3.4M for a mobile marketplace that connects India's farmers to inputs, equipment, climate information, and farm services. And Bangalore-based qZense Labs bagged $6.2M in fresh investment for connected sensors that monitor and track food quality, as food travels through the supply chain. Finally, micro-farm provider Aqgromalin of Chilkanagar, which equips farmers in southern India looking to expand into aquaculture and animal rearing, raised $2.7M.
EFSA, the European Food Safety Authority, just announced that yellow mealworms are safe to eat (except if you have prawn and dustmite allergies). Companies across Europe such as Micronutis and Protifarm in the Netherlands, Essento in Switzerland, and Entogourmet in Spain are now planning to ramp up their operations. And Ÿnsect in France, too.
Smile Robotics is making an autonomous table bussing robot. It's not very fast, nor cute, but it does its job.
David Yeung's Green Monday of Hong Kong is bringing its plant-based OmniPork product to the U.K. The product has seen huge success in Asia.
Swedish FoodTech startup Nick's has closed a $30M round (which was vastly oversubscribed). Investors included e.g. Gullspång Invest, Khosla Venturesand PeakBridge VC. The fresh funding will be used to fuel international expansion. Nick's develops snacks and icecreams with no added sugar, at a lower calorie count (up to 70% lower than other leading brands). Recently, the company launched an ice cream in the U.S. made with whey protein from Perfect Day Foods.
Stefan Lagerqvist, CEO of Nick's
'Food as medicine' shake startup Muniq has secured $8.2M in Series A funding. The company claims that its line of nutritional meal replacement shakes can improve blood sugar control, weight management, digestive health, and more.
Exaeris Water Innovations says its AcquaTap, a portable device, can pull clean water out of the air, producing up to 5 gallons (20 liters) of water per day. The device will weigh around 30 lbs (13.5 kg), and sell for less than $2,000. It can plug into any power supply, from a regular outlet to solar power to a battery.
Qualitas Health has secured $10M in funding from e.g. PeakBridge VC and Arancia Group. The company produces EPA omega-3 using algae grown in saltwater cultivation ponds, built on non-arable land in the deserts of Texas and New Mexico. The omega-3 is sold under the iwi brand. The company is now exploring expanding into alternative protein applications for its algae.
Qualitas Health ponds, in the U.S.
News from the FoodTech Weekly community
Haakan Guldkula has written a piece on why food traceability is needed to prevent future pandemics.
Adi Vagman of AgriNation VC has put together a great 4-pager on Israeli AgTech in 2020; last year, Israeli AgTech and FoodTech startups raised a record $400M, 50% of which for alternative protein.
Sarah Halevy at WWF-UK is looking for a consultancy to help develop a Sustainable Food Guide, to support their Eat4Change Initiative. Deadline Monday Jan 25. More info here.
Want to share some FoodTech news/project with other FoodTech Weekly subscribers? Hit reply.
Random Stuff
Food marketing works. This 2 minute video is really powerful. Watch it.
Speaking about England and junk food, the country is restricting promotions on foods high in fat, salt, and sugar from April 2021. "Buy one, get one free" offers on unhealthy products will in most cases no longer be allowed.
This 6 min Vice News mini-documentary of a high-end meat rancher in Spain, and 3D-printed steak startup Novameat, is worth watching. Be advised it contains 2-3 seconds of slaughterhouse imagery.
AgFunder News has listed their 20 most-read stories of 2020. The article on BIOMILQ's cultured breastmilk was #1 (full disclosure, I'm an advisor to BIOMILQ).
Who is a good boy, eh? A couple in Canada has been fined $1,200 each, after police found a woman walking her husband on a leash, despite Quebec's strict COVID curfew rules. The woman told police she was only out 'walking her dog', one of the few activities allowed during the 8 pm to 5 am curfew.
I love you.
Daniel
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This issue was produced while listening to Heart & Soul by Roseaux and Olle Nyman. Follow me on LinkedIn and Twitter. Did your brilliant friend forward this to you? Subscribe here.