In This Issue:

• Food Venture Financing Trends
• CPG Corporate Venture and Private Equity Funds

Food Venture Financing Trends

• Ecorobotix, an ag robotics startup that has developed automated precision technology for row crops and pastures, announced that it raised $52 million in its Series B round. The company plans to expand its operations from Europe to the Americas.
• Post Holdings announced that it will unwind its SPAC (Post Holdings Partnering Corporation) that it formed two years ago after it was unable to find an acquisition target. Rob Vitale, Post’s CEO, noted that the company will lose the $10 million that it used to form and operate the SPAC.
• Hershey announced that it has entered into a licensing deal for an undisclosed amount with Ocean Spray to develop a product line of fruit dipped in chocolate.

CPG Corporate Venture and Private Equity Fund

This week's featured food business incubator and accelerator is Coca Cola’s Venturing & Emerging Brands (VEB).

• Founded in 2007, Venturing & Emerging Brands is the corporate venture capital arm of Coca-Cola based in Atlanta, Georgia. The firm seeks to invest in companies operating in the beverage sector, and generate future growth for the company.
• Portfolio companies include:
  • Honest Tea
  • Suja
  • Zico
  • Hansen's
• VEB is always on the lookout for disruptive innovation in the beverage world, particularly for brands that meet future consumer needs.

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