In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
Food Venture Financing Trends
- Keurig Dr Pepper announced that it invested $50 million in Athletic Brewing, a nonalcoholic craft beer producer. The investment expands Keurig Dr Pepper's portfolio of emerging beverage brands.
- A recent report by PitchBook states that foodtech companies raised $2.7 billion in venture capital in Q3 of this year, representing a 76.9% decrease in investments year-over-year.
- Muncher, a startup that operates a chain of dark kitchens, announced that it raised $27 million in its Series B round. The company plans to use the funding to expand its dark kitchen operations in South America.
- Proper Good, a 90-second meal solutions startup, announced that it raised $3.5 million in seed funding.
CPG Corporate Venture and Private Equity Funds
This week's featured CPG Corporate Venture and Private Equity Fund is SnackFutures.
- SnackFutures is an early stage innovation and venture hub launched by Mondelēz International in 2018 to take advantage of changing consumer trends and preferences and to unlock growth opportunities in snacking around the world.
- SnackFutures aims to bring together talent, partnerships and funding across three integrated mandates:
- Invention of new brands and businesses in key strategic areas
- Reinvention of small-scale Mondelēz brands with large-scale potential
- Venturing with start-up entrepreneurs to seed new businesses
- SnackFutures has launched the following brands:
- CaPao (US)
- Ruckus and Co (US)
- NoCOé (France)
- CoLab is SnackFutures' signature start-up engagement program. The applications for CoLab are now open with link available at SnackFutures - Open Innovation Submission Form. The program begins in Spring 2023.
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