NEW TECH FOODS

Keychain, a start-up in the consumer packaged goods (CPG) sector, has secured $30 million in Series B funding, in a round led by Wellington Management, with participation from existing investor BoxGroup. This funding brings Keychain's total capital raised to $68 million, aimed at enhancing its AI-powered platform that connects brands, retailers and manufacturers. The funding will primarily support the development of KeychainOS, a software suite designed to optimise supply chain operations and improve product development processes. With its engineering hub based in Gurugram, India, Keychain is focusing on expanding its presence in North America. Keychain's Series B funding follows a Series A round completed in November 2024, where the company raised $15 million at a post-money valuation of $260 million. Prior to that, in November 2023, Keychain secured $18 million in its seed round, led by Lightspeed Venture Partners. The total funding raised to date now stands at $68 million, indicating a robust interest from investors in Keychain’s potential to innovate within the CPG industry. The new capital will be directed toward several strategic priorities: Enhancement of KeychainOS: Further developing the platform to include modules for food safety compliance, purchasing, inventory management and production planning. Team expansion: Increasing the engineering and product teams in Gurugram to accelerate development efforts. Market growth: Strengthening Keychain's foothold in North America and exploring potential partnerships in Europe. AI integration: Using AI technologies to streamline data integration and improve supply chain efficiency. Since its establishment in 2023, Keychain has made significant strides, collaborating with eight of the top ten US retailers and several major CPG brands, including General Mills. In addition, customers like Rich Products and Aura Bora have praised the platform for streamlining supply chains. To date, the platform has facilitated over $1 billion in project submissions, reflecting its growing influence in the market. Keychain's AI-driven marketplace seeks to digitise a traditionally offline process, significantly reducing the time it takes for brands to connect with manufacturers. This approach has the potential to disrupt existing market dynamics, particularly for traditional intermediaries. As the CPG industry increasingly embraces digital transformation, Keychain is well-positioned to capitalise on trends favouring AI-driven solutions and the demand for private-label products. The company also plans to expand into European markets in the near future. Some of the product supply chains that Keychain currently works with include nuts, seeds, dried fruit, deli meats, gelato, spring and distilled water, protein bars and chocolate, to name just a few. CEO Oisin Hanrahan said: “It’s the talent, depth, availability and the speed with which you can access talent [in India] that makes it a compelling destination for product development. If we can take [the manufacturing partner search] from months down to days, we think we can unlock innovation in product development for this whole industry.” Kevin Spratt, regional president at Rich Products, added: “This partnership is a strategic move that will empower us to drive greater growth, foster enhanced innovation and deliver even more unique value for our customers”. With strong financial backing and a commitment to enhancing its platform, Keychain aims to play a significant role in the evolving landscape of CPG manufacturing.

Sustainable investment firm Collateral Good has been appointed to manage a €100 million Sustainable Food Fund, formerly known as Blue Horizon Venture I. Now rebranded as Collateral Good Food Innovation I , the fund comprises 14 portfolio companies working across plant-based, precision fermentation and cultivated meat sectors. Investments include Swiss plant-based meat producer Planted, precision fermentation companies Every, Geltor, Chromologics and Algama, and cultivated meat pioneer Mosa Meat. The transition follows a process led by Deloitte Luxembourg, with more than 85% of the fund’s Limited Partners selecting Collateral Good to take over management. The fund will be led by co-founders Mariana Gonzalez and Michael Kleindl, alongside partners Cyril Zimmermann and Jarne Elleholm, and supported by an advisory network including Maxence de Royer (Nestlé), Constantino Matouk (Bimbo Corporation) and Frank Alexander Kühne (Adalbert Raps Stiftung). Collateral Good said that while the alternative protein and food tech sectors have faced headwinds in recent years, the long-term outlook remains positive. The firm emphasised that continued innovation in these fields is key to building a climate-positive and resilient global food system. Top image: @ Planted Foods

The Taylor Geospatial Institute (TGI) has launched a funding initiative offering up to $2 million for projects using geospatial technology to tackle global food security and sustainable agriculture challenges. The Geospatial Innovation for Food Security Challenge (GIFS) is open to collaborations between industry, non-profit organisations and academic researchers. Successful teams could receive up to $550,000 each to develop and implement solutions in areas such as: Advanced modelling for crop shifting in response to climate and market changes Measurement, monitoring, reporting and verification (MMRV) to improve nitrogen use efficiency and reduce environmental impact Supply chain modelling to boost resilience in the agri-food sector and address food insecurity Rachel Opitz, programme manager for the challenge, said: “Food security is one of the most pressing global challenges of our time, and geospatial technology is uniquely positioned to drive solutions. Through this challenge, we’re bringing together diverse expertise to accelerate innovations that can have a measurable impact – locally, nationally and globally.” Applications are open until 31 October. Proposals must demonstrate both technological innovation and real-world impact, and each team must include at least one academic partner alongside an industry or non-profit organisation. The initiative forms part of TGI’s broader mission to position the St Louis region as a global hub for geospatial research and innovation, with a focus on addressing critical societal needs.

Meatable has acquired UK start-up Uncommon Bio’s cultivated meat platform, along with its key technologies, patents, cell lines and several team members. The deal gives Meatable access to Uncommon Bio’s non-GMO mRNA reprogramming and saRNA differentiation technologies, which will be integrated with its existing patented Opti-ox system. According to the company, the combination creates a “multi-platform” approach designed to accelerate product development, adapt to different markets and speed up regulatory approvals in multiple regions. Uncommon Bio, formerly focused on cultivated pork and other meats, has shifted its focus to therapeutics. CEO Benjamina Bollag said Meatable was “the best home” for the company’s technology, adding that she looked forward to continued collaboration. Meatable said the acquisition strengthens its position in the cultivated meat sector by expanding into species such as chicken, lamb and other high-flavour breeds, alongside its existing pork and beef lines. It also adds to the company’s intellectual property portfolio with additional patents and proprietary assets. Jeff Tripician, CEO of Meatable, stated: “This acquisition is more than a strategic step – it sets a new standard for cultivated meat production. By combining two highly complementary platforms, Meatable is now equipped to reliably deliver high-quality cultivated meat at a global scale. This enables us to support the meat industry with a stable, secure, and future-proof supply of species like pork, beef, lamb and poultry, ensuring business continuity and resilience in the face of increasingly uncertain times.” Meatable aims to work with supply chain partners to complement traditional livestock production, citing efficiency, scalability and the elimination of livestock disease risks as potential benefits. Financial terms of the acquisition were not disclosed. Top image: © Meatable

The Good Food Institute (GFI) has announced that Nigel Sizer – a climate and public health expert and former head of the Rainforest Alliance – will be joining as its new chief executive on 26 August. GFI, a non-profit think tank dedicated to the global alternative protein industry, said Sizer will help lead its strategic programming and operations in the US and worldwide. He will work closely with GFI teams in Asia Pacific, Brazil, Europe, Japan, India and Israel. Based in New York, Sizer will lead all aspects of operations and administration in partnership with GFI president and founder Bruce Friedrich and the organisation’s regional leads around the globe. Prior to joining GFI, he served as president and CEO of the Rainforest Alliance and as global director of forests for World Resources Institute. During this time, he helped launch and grow the Global Forest Watch, the Global Restoration Initiative and the Forest Legality Alliance. Following the Covid-19 outbreak, Sizer also founded Preventing Pandemic at the Source, leading a 20-organisation coalition focused on upstream pandemic prevention policies. In addition to this, he has held positions at the United Nations Environment Programme, the Nature Conservancy, Rare, and other non-profit boards focusing on climate and public health. GFI’s work spans science, policy, industry and philanthropy to advance alternative proteins, such as those made from plants, via fermentation or cultivated from animal cells. By doing this, it aims to help meet the world’s climate, health, food security and biodiversity goals – diversifying protein production can significantly reduce greenhouse gas emissions from agriculture, land and water use, and the widespread use of antibiotics within our food system. Commenting on his appointment, Sizer said he is “honoured to be joining this team of change-makers”. “After years quantifying the land use, health and climate damage of commodity animal agriculture, I am convinced that alternative proteins are the single most powerful opportunity to curb deforestation, biodiversity loss, pandemic risk and greenhouse gas emissions,” he said. “How we feed humanity without destroying nature, and in ways that enable a greater diversity of life to thrive, deserves north star focus. GFI’s theory of change, its global network and its catalytic efforts across science, policy, industry and philanthropy are critical.” GFI founder and president Friedrich said: “Nigel Sizer has spent his career addressing the root causes of some of the biggest challenges of our time – a major motivation that drew him to GFI, our mission and our theory of change. With each disruption to our global food system, and demand for meat on the rise in virtually every economy in the world, the links between agriculture, climate, biodiversity, public health and malnutrition become ever more clear.”

Norwegian agtech company Saga Robotics has secured $11.2 million in equity funding to expand the commercial rollout of its autonomous agricultural platform, Thorvald, in the UK and US. Thorvald is currently used by 13 major strawberry growers in the UK, covering around 20% of the national market, with a goal to surpass 30% in 2026. The company also recorded its first commercial revenue from its yield prediction data tool this year. The funding round – completed in two tranches – included both new and existing investors. Luxembourg-based VC firm Praesidium Agri-FoodTech joined as a new backer, while returning investors included Aker, Nysnø Climate Investments, Blystad, Hatteland, Melesio, Sanden and MP Pensjon. The first tranche, worth $7.8 million, closed on 23 June 2025 and was oversubscribed, primarily involving existing investors. The second, valued at $3.4 million, closed on 8 July and targeted new investors and strategic partners. As part of the raise, Saga Robotics appointed new board members, including Dorn Wenninger as chair, alongside Atle Eide (Maringto) and Laila Danielsen (Elliptic Labs). Yvonne Silden Langlo (Nysnø) joined as a director and Praesidium’s Alice Laurora as an observer. In the US, the platform operates across more than 1,300 acres of vineyards and is part of California’s CORE incentive programme, which provides grants for robotic solutions. Saga plans to triple its US footprint by 2026. Alice Laurora, vice president at Praesidium Agri-FoodTech, said: “The Thorvald robot has moved from a prototype to a fully commercially deployed autonomous solution, already servicing thousands of acres in 2025. We’re investing in Saga Robotics because they have the right team, the right tech, proven technology and a clear path to scale in high-value, underserved agricultural sectors.” Dorn Wenninger commented: “Our solid commercial performance was an important enabler for us to close this funding round in what is a relatively demanding capital market. The continued backing of existing shareholders who know the company well, along with the addition of new investors such as Praesidium Agri-FoodTech is testament to the solid foundations of our core business and our pipeline of growth.” “We’ve proven Thorvald works, now we’re scaling it,” said founder Pål Johan From, who recently relocated to California to lead US operations. “This raise gives us the runway to accelerate adoption, improve efficiency in agriculture and reduce chemical use across two of the world’s most chemically dependent specialty crop markets.” Top image: © Saga Robotics

OCOchem, a leader in CO2 electrolysis technology, has entered into a new partnership with ADM. The collaboration aims to establish an innovative CO2 conversion facility at ADM's corn processing complex in Decatur, Illinois, utilising OCOchem’s proprietary Carbon FluX Electrolyzer technology. The new facility will convert biogenic CO2 emissions from ADM’s ethanol production into formate molecules, which are versatile compounds applicable in various consumer and industrial products. The partnership is poised to meet the growing demand for carbon-negative, biogenic formate products, aligning with the increasing focus on sustainability. Todd Brix, co-founder and CEO of OCOchem, highlighted the importance of this partnership: "Working with ADM allows us to scale our CO2 electrolysis process commercially and fulfill early customer demand for sustainable formate products at competitive prices". This collaboration not only underscores OCOchem's innovative approach but also positions ADM as a leader in industrial carbon management. Kris Lutt, president of sustainable materials and strategic initiatives at ADM, added: "This collaboration represents a high-potential pathway for converting captured CO2 into valuable, carbon-negative molecules. OCOchem's impressive technology aligns seamlessly with our strategy to lead in sustainable molecule production, supporting lower-carbon supply chains and unlocking new value across the bio-based economy." Key details of the partnership Facility development: OCOchem will construct and operate modular Carbon FluX electrolyzer systems within ADM's existing facility, transforming water and CO2 captured from the bioethanol plant into carbon-negative formate molecules. Construction is expected to commence later this year, with completion targeted for the end of 2026. Product range and applications: The companies plan to develop a comprehensive value chain for formate molecules and their derivatives, including formic acid, potassium formate and ethyl formate. These products will cater to diverse applications such as crop protection, fertilisers, industrial solvents, active pharmaceutical ingredients, as well as flavours and fragrances. Innovative technology: OCOchem’s Carbon FluX Electrolyzer uses advanced gas diffusion electrode technology to efficiently convert CO2 and water into organic molecules. By employing biogenic CO2 as a feedstock, the facility aims to produce carbon-negative products, significantly reducing reliance on fossil fuels. Sustainability impact: This partnership is a testament to the growing trend of integrating sustainability into industrial processes. By converting CO2 emissions into valuable products, OCOchem and ADM are contributing to the development of a circular economy and addressing the urgent need for carbon reduction in manufacturing. Since its inception, OCOchem has rapidly scaled its technology, achieving a 1,500x increase in the performance of its CO2 electrolyzer cell. Its commitment to innovation has garnered support from key organisations, including the US Army Research Office and the US Department of Energy. The successful implementation of this facility could pave the way for broader adoption of CO2 conversion technologies across various sectors, further enhancing the sustainability of supply chains. About OCOchem OCOchem is a pioneering CO2 electrolysis company dedicated to converting CO2 into organic molecules through innovative technologies. Based in Richland, Washington, OCOchem focuses on decarbonising global supply chains and promoting a sustainable industrial future.

The Better Meat Co (BMC) has secured $31 million in an oversubscribed Series A funding round to expand its patented mycoprotein fermentation technology to commercial scale. The round was co-led by Future Ventures and Resilience Reserve, with participation from Hickman’s Family Farms CEO Glenn Hickman, Epic Ventures, Sigma Ventures and other new and existing investors. BMC produces Rhiza, a shelf-stable mycoprotein ingredient made from mycelium, which can be used by both conventional meat and alternative protein manufacturers. The company says the ingredient offers improved texture, yield, fibre content and lower saturated fat compared to plant protein extrudates, while requiring fewer ingredients. The company aims to begin selling commercial volumes of Rhiza at prices below US commodity ground beef by 2026. Future Ventures co-founder Steve Jurvetson and Glenn Hickman will join BMC’s board of directors. BMC CEO Paul Shapiro said: “We’ve invented and patented our tech, received regulatory approval, scaled to a demonstration plant, and proven demand exists for Rhiza mycoprotein. It’s now time to fully commercialize and introduce our new crop that will help the protein industry cut costs and improve nutritionals, all with a much lighter footprint. I’m so proud of our team that’s led us to this critical milestone.” Jurvetson added: “The world needs better ways to make protein, and The Better Meat Co has invented one of the most efficient – and delicious – ways to do it.” The company operates a 9,000-litre demonstration facility in West Sacramento, California, and plans to expand capacity roughly tenfold with the new investment.

80 Acres Farms and Soli Organic have announced a strategic merger aimed at establishing one of the largest and most advanced indoor farming networks globally. This union combines the complementary strengths of both companies, enhancing their technological capabilities, operational efficiencies and retail distribution networks to serve over 17,000 storefronts across the US. The newly formed entity, operating under the 80 Acres Farms name and headquartered in Hamilton, Ohio, is projected to generate nearly $200 million in its first year. This merger marks a pivotal moment in the evolution of vertical farming, with industry leaders noting the importance of execution, efficiency and results. Mike Zelkind, co-founder of 80 Acres Farms and CEO of the merged company, said: "Vertical farming is entering the next phase of business maturity. This merger unites two top operators that have the scale, economics, and teams necessary to deliver the results that the industry has been waiting for." Zelkind highlighted the companies' shared commitment to producing fresher, better-tasting produce that is pesticide-free, climate-resilient and designed for optimal shelf life. Walter Robb, former co-CEO of Whole Foods Market and co-chairman of Soli Organic, added: "Retailers today seek differentiated products, supply chain reliability, and compelling narratives. Given recent trade volatility, indoor agriculture is becoming increasingly vital. This merger enhances product quality, expands the product portfolio, and boosts supply chain resilience." Key highlights of the merger National scale and reach: Leveraging Soli Organic's established commercial presence, the combined company will enhance its capacity to serve more than 17,000 retail locations nationwide, supported by a robust farm and logistics network designed for regional redundancy and just-in-time delivery. Growth potential: With seven vertical farms strategically distributed across the country, the new entity has the capacity to produce 15-20 million pounds of fresh produce annually, aligning with current customer demand while allowing for future retail expansion. Diverse product portfolio: The merger will offer a comprehensive range of fresh, ready-to-eat products, including salad blends, salad kits, herbs, tomatoes and microgreens, catering to the needs of retail, convenience and foodservice sectors. Advanced technology integration: The integration of 80 Acres Farms' GroLoop platform – a sophisticated system for precision farming – with Soli Organic's extensive agronomic expertise positions the company at the forefront of agricultural innovation. This technology enhances yield, flavour and consistency while minimising costs, bolstered by AI-driven insights for improved crop optimisation and supply chain responsiveness. Operational expertise: The merger combines seasoned teams in engineering, plant science, operations and food safety, strengthening the company's technical foundation. This operational depth is expected to accelerate innovation and enhance customer engagement through proven branding and marketing strategies. Sustainability and efficiency: With vertically integrated operations and real-time visibility, the combined company aims to reduce food waste, improve freshness and ensure reliable service across the nation. The commitment to sustainability is reflected in its use of 100% renewable electricity and 95% less water per pound of produce. Tisha Livingston, co-founder of 80 Acres Farms, highlighted the adaptability of the GroLoop platform, commented: "By merging it with Soli's extensive reach and agronomic knowledge, we can operate more efficiently and deliver greater value throughout the supply chain".

Amsterdam-based sustainable ingredients producer, Corbion, has entered a strategic partnership with US biotech company Kuehnle AgroSystems (KAS) to develop and commercialise a natural astaxanthin product made from non-GMO heterotrophic algae. Astaxanthin, a red-orange carotenoid pigment, is a powerful antioxidant found in microalgae, salmon and shrimp. It is widely used in human nutrition as a dietary supplement and in aquaculture as a feed ingredient, particularly for salmon. Currently, most commercial astaxanthin is either chemically synthesised for aquaculture or extracted from the microalgae Haematococcus  grown under light conditions for human health applications. Corbion and KAS plan to offer an alternative produced through controlled fermentation of non-GMO, heterotrophic Haematococcus , which they say will provide greater scalability and consistency. The partners will focus on developing an esterified form of the compound, designed to deliver improved stability, fat solubility and bioavailability. The product will target both the nutraceutical and aquaculture sectors. Corbion will contribute its industrial production expertise and regulatory knowledge, while KAS brings its fermentation platform and proprietary algae strains. “This partnership reinforces our commitment to sustainable, science-based solutions,” said Robert Jan de Voogd, general manager of algae ingredients North America at Corbion. “KAS’ technology offers a strong foundation to deliver high-quality natural astaxanthin to customers looking for a clean-label alternative.” According to the company, development and technical transfer are already underway, with further updates expected as the project advances.

Bunge Global has acquired IFF's soy and lecithin business, a move that is poised to enhance Bunge's product portfolio and strengthen its position in the F&B sector. The agreement involves the purchase of nearly all assets related to IFF's lecithin, soy protein concentrate, and crush operations, which generated approximately $240 million in revenue in 2024. Bunge, a leader in agribusiness, is strategically expanding its capabilities in the food ingredients space. The acquisition includes operations that employ approximately 250 people globally and is expected to close by the end of 2025, pending regulatory approvals and customary closing conditions. Although financial terms of the deal have not been disclosed, this acquisition aligns with Bunge's recent growth trajectory, including its $8.2 billion merger with Viterra earlier this year. J Erik Fyrwald, CEO of IFF, highlighted during a conference call that the divested products were better suited for Bunge's operational expertise. “They’re highly commoditised and managed far more efficiently by Bunge than they were by us,” said Fyrwald. He noted that these products delivered only low single-digit EBITDA margins for IFF, and selling them will enable the company to focus on its more specialised isolated soy protein business – boosting both margins and innovation potential. This acquisition is expected to bolster Bunge's existing product lines, particularly in the growing sectors of plant-based proteins and clean label ingredients. Bunge's processing capabilities, particularly in soybeans, rapeseed, canola and sunflower, will allow for the development of new, innovative products that meet the increasing consumer demand for healthier, sustainable food options. With the global plant-based protein market projected to grow significantly, Bunge's enhanced product offerings will likely cater to food manufacturers looking to incorporate high-quality, plant-derived ingredients into their formulations. The integration of IFF's soy protein concentrate and lecithin products will enable Bunge to provide its customers with a broader range of ingredient solutions, enhancing their competitive edge in the food and beverage industry. The acquisition comes at a time when the food and beverage industry is increasingly focused on health and wellness trends, clean label products and sustainable sourcing. As companies navigate these evolving consumer preferences, Bunge's strategic acquisition positions it well to lead in the development of innovative food solutions. As Bunge continues to integrate IFF's assets, industry stakeholders will be watching closely to see how this move impacts product innovation and market dynamics within the food ingredients sector.

Merck has partnered with German company builder Mantro to establish EdiMembre, a Massachusetts-based spin-out focused on developing technology for the alternative protein sector. EdiMembre builds on Merck’s edible membrane platform, which enables the creation of complex tissue structures for structured cultivated meat. The technology, backed by a patent portfolio, has also been applied in other food uses such as high-protein plant-based pasta. The company will be led by CEO Timothy Ryan Olsen and CTO Ryan Sylvia, who previously directed Merck’s cultured meat and scaffold technology programmes. Mantro CEO Manfred Tropper has joined as a non-executive board member. Merck will continue to support the venture by supplying cell culture media and contributing intellectual property and expertise. EdiMembre aims to accelerate the commercialisation of structured cultivated meat products, seen as a key step toward scaling alternative proteins for sustainable food production. Laura Matz, group science and technology officer at Merck, said: “Cultivated meat, a core focus in the alternative protein market, offers a powerful solution for sustainability and global food security. To meet urgent market needs, the development of structured meat products that replicate the texture and complexity of conventional meat is essential." "Leveraging its pioneering technology and patent portfolio, Merck enabled the creation of a dedicated spin-out to develop a market-ready product, unlocking access to this breakthrough and empowering clients and investors to shape the future of food together." Tropper added: “The formation of EdiMembre represents a significant milestone in the alternative protein industry. By combining Merck’s cutting-edge technology with Mantro’s company building expertise and strong investor backing, we have created a powerhouse capable of driving real change in sustainable food production. I am thrilled to be part of this journey and confident in our ability to make a lasting impact."