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FoodTech Weekly #37 by Daniel S. Ruben
News on FoodTech, food, and society
Daniel S. Ruben
February 19, 2021 • Estimated Reading Time: 13 minutes
FoodTech Weekly #37
Hi there,
Looking at the explosion in startups, investors, incubators, academics, and corporates in the plant-based and cell-based alternative protein space from January 2018 to January 2021, I can't help but think there's a bubble brewing. While it's clear this ecosystem is here to stay, and that it will capture significant market share, I think some less sophisticated entrepreneurs and investors are entering this space, and that will not end well.
The ecosystem, January 2018 vs. January 2021. Source: The KET Maps / New Protein
...and on that happy note, cognizant of the irony that I might be part of the bubble problem:
Don’t miss the first virtual New Food Invest on March 18, the world’s first online conference focused exclusively on bringing international plant-based and cultivated food startups together with investors and venture capitalists. I'll be moderating a European investor panel during the conference with Eric Archambeau (co-founder, Astanor and Rosie Wardle (co-founder and partner, Synthesis Capital, formerly with CPT Capital). Since you'll likely spend that day on Zoom anyways (just like every other day), why not spend it with us? Use the code FOODTECHWEEKLY2021 for a 15% discount on your ticket.
Also, flagging that the application deadline for the Norrsken Impact Accelerator is coming up, on Feb 28. So far, we've had applications from 90+ countries, which feels absolutely amazing. We're looking for startups that can help solve some of the world's greatest challenges, and beyond the $100K investment, startups participating in the program will also get support from world-class founders (incl. several unicorn founders).
By the way, I'm @danielsruben on Clubhouse; feel free to add me, because I will be there every sometimes (and if you need an invite, LMK).
Enjoy your weekend!
Highlights
Conversations: Kerem Erikçi and Sibel Tunali (Biftek)
Noteworthy: Redefine Meat raises $29M for 3D-printed plant-based steaks; SunCulture of Nairobi secures $11M for solar-powered water pumps for irrigation; VeggieVictory of Nigeria closes pre-seed round; Bayer launches short-stature non-GMO corn hybrid with environmental upsides; MSC Cruises onboards Rob the robot bartender; Singapore establishes $45M AgTech fund to boost domestic food production
News from the FoodTech Weekly community
Random Stuff: Renaming underloved fish; the Food Planet Prize is now open for applications (again); LEGO First Dates; why confessing to murder to get your road cleared of snow is a bad idea. And more.
Conversations
Spoke with Kerem Erikçi (cofounder) and Sibel Tunali (strategic advisor) of Biftek. Cell-based meat (also called e.g. cultured or cultivated meat) is produced by taking a small sample of animal cells and replicating them in a culture media, outside of the animal. The goal of cell-based meat companies is to produce real animal meat, without having to harm or kill animals. A big ethical issue has been the necessary use of FBS (fetal bovine serum) in the production of cell-based meat. FBS is also very expensive. Biftek (which has R&D in Ankara, Turkey but is incorporated in the U.S.) produces a plant/microorganism-based, natural, and cost-effective growth medium supplement, that radically decreases production costs, for e.g. cow, chicken, and fish cells: 'These microorganisms have lived with us in our bodies for billions of years; we'll utilize the power of nature for the sake of meat production, as they have such beneficial structure for cell growth', says Kerem. Biftek believes they'll lower the production cost for the entire industry. Says Sibel: "I think that's why it's so exciting; instead of everyone reinventing the wheel, we can ensure quick and affordable go-to-market for all cell-based meat companies.' Biftek is currently raising a $2M round, to scale up R&D, and deepening contacts with potential partners and customers. The company is also interested in relevant collaborations with other startups in the ecosystem. Kerem can be contacted via LinkedIn and email.
The Biftek team. Left to right: Melim, Kerem, Can, Erden (not in picture: Sibel)
Noteworthy
Israeli 3D-printed plant-based whole-muscle startup Redefine Meat has secured a $29M investment, to support its commercial launch this year. The company, which has over 40 employees, will deploy industrial-sized 3D alt-meat printers with various meat distributors in Israel later this year. Redefine Meat has raised more than $35M to date.
Redefine Meat
Canadian cell-based meat company New Age Meats has raised another $2M in Seed extension; in total, the company has taken in $7M. New Age Meats claims that their first products, pork sausages, and dumplings, replicate the taste, aroma, and mouthfeel of conventional pork better than any product currently available.
VeggieVictory, Nigeria's first plant-based meat startup, has closed a pre-seed round from a number of European and American investors, including Måns Ullerstam's Kale United (Sweden), Michiel van Deursen's Capital V (the Netherlands), and Ryan Bethencourt and Mariliis Holm's Sustainable Food Ventures (U.S.). VeggieVictory's flagship product is a plant-based meat chunks alternative called Vchunks.
Estonian automated kitchen garden startup Natufia Labs has announced a $3.5M raise (led by the King Abdullah University of Science and Technology Innovation Fund), and that the company is relocating to Saudi Arabia. In total, Natufia has raised $4.7M. The company makes a $13K automated home gardening appliance that uses seedpods that grow into leafy greens, herbs, and flowers, in a fairly automated way.
Pernod Ricard has picked a solution from Israeli Trellis for its operations in Australia and New Zealand. Trellis' system integrates live data from the supply chain to accurately predict things like quality, yield, timing of harvest. This helps lowering production costs for the customers.
Solar-powered irrigation system supplier SunCulture, based in Nairobi, Kenya, has obtained an $11M credit line to help expand its solution across Africa. Financing was secured from Triodos, the Nordic Development Fund, AlphaMundi, and the African Development Bank. SunCulture, which raised $14M just last year, distributes solar water pumps for irrigation. Over 80% of families in Africa depend on agriculture for their livelihoods, but only 4% use irrigation due to a lack of reliable electricity. SunCulture's water pump is equipped with 300W solar panel and a 440 Wh battery storage system. Each farmer pays between $500 and $1,000 to own a system (using pay-as-you-go, a system facilitated by mobile banking).
The Japanese National Agriculture and Food Research Organization (NARO), in collaboration with Ritsumeikan University and DENSO CROP, has developed a prototype of a fruit harvesting robot that can pick a fruit at the same speed as a person (11 seconds, including replacement of empty containers). The robot moves between the trees using an Unmanned Ground Vehicle (UGV), picking fruit with two robot arms, and collecting the harvested fruit into the automated fruit storage system on the UGV. The system can determine when a fruit is ripe for picking.
Screenshot: YouTube
Bayer has launched a short-stature, non-GMO corn hybrid in parts of Mexico. The Bayer plant breeders hope the new variety may result in environmental benefits (e.g. deeper roots).
Singapore is establishing a $45M fund (the Agri-Food Cluster Transformation Fund) which will help farmers in the city harness technology that can boost domestic food production. The city-state aims for 30% local food production by 2030, up from 10% today. Singapore's Finance Minister Heng Swee Keat says that 'technology is a game-changer and will open new possibilities. We harnessed technology to overcome our water and land constraints, and will do the same for climate change.'
MSC Cruises have announced that Rob the humanoid robot bartender will be reporting for duty, starting this spring. Rob can speak eight different languages (adjusting to the language a guest uses when placing an order), and can mix and serve a range of alcoholic and non-alcoholic drinks.
This article, 'How vertical farming is taking off', offers lots of data and some nice infographics on how and why the indoor vertical farming industry is currently growing at a high pace.
News from the FoodTech Weekly community
Melissa Ho of WWF-US has two positions open on Sustainable Protein Systems: Director, Sustainable Livestock Systems and Senior Program Officer, Animal Ag Systems. They seek candidates who ideally have private sector experience, especially directly in a commodity supply chain or with producer groups.
Robin Simsa, co-founder and CEO of Revo Foods, wants to share that his company is releasing the world's first 3D-printed plant-based seafood. Their salmon will be served on the 6th of March in Vienna, Austria in collaboration with “Budapest Bagels" Revo Foods is giving away 3 tickets to this event -- subscribe on their webpage or Instagram by March 1 for a chance to win.
Image: Revo Foods
Anna and Erik of Trellis Road VC have written this great landscaping of 18 corporates investing in FoodTech startups.
I really enjoyed Matthieu Vincent of Digital FoodLab's reflections on what remote robotic grocery warehouses connected to urban farms, autonomous vehicles delivering to cloud kitchens, dark stores, and consumers, and small meal and grocery delivery robots could mean for a somewhat fully automated food system.
Want to share some FoodTech news/project with other FoodTech Weekly subscribers? Hit reply.
Random Stuff
"Underloved fish" is being renamed to attract more British consumers. Judging from the discarded seafood names Slimehead, (aka orange roughy), Toothfish (Chilean sea bass), and 'Wh*re's eggs' (Maine sea urchins), this might work. Experts, meanwhile, are questioning whether there truly are any type of fish that you can eat sustainably (here and here).
The Food Planet Prize is open for applications; several initiatives will be awarded $1M each.
This LEGO First Dates 90 sec clip is true feel-good.
Screenshot: LEGO/IG
Researchers in Sweden have developed biosensors that make it possible to monitor sugar levels in real-time, deep in the plant tissues, something that was previously impossible. The scientists hope these sensors could make it possible to guide the production of new types of plant that can grow in non-optimal conditions.'
A Ukrainian man called the police, confessing to murder, hoping that the police would clear his snow-covered road when they came to arrest him. When they showed up (without clearing the road), he admitted he had made a fake call. He now faces a 119 hryvnias ($4.30) fine for reporting a false complaint.
I love you.
Daniel
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This issue was produced while listening to HEART ATTACK (feat. lau.ra) by BRONSON, ODESZA, Golden Features, and lau.ra. Follow me on LinkedIn and Twitter. Did your brilliant friend forward this to you? Subscribe here.