10 notable deals and things to know this week (2024 – week #13)

Startup news and deals

🇨🇭🥗 Techponics, a Swiss startup, raised CHF500k for its tech to automate hydroponic production in greenhouses.

🇩🇪 📱Cara Care, a Germany-based startup developing a digital platform to manage digestive health conditions such as IBS, was acquired by Mana Therapeutics, a US-based company.

🇮🇳   🍽️ Curefoods, an Indian startup, raised $36M for its virtual brands and cloud kitchens. Unlike most virtual restaurants, Curefoods operates its own network of 150 kitchens in 15 different cities in India.

🇺🇸 🍽️ Loop, an American startup, raised $6 million for its automated delivery intelligence platform for restaurants.

🇫🇷 🍇 W Platform, a French startup, raised €2M to capture and create value out of the CO2 emmited during winemaking.

🇦🇺🔬 Cauldron, an Australian startup, raised $9.5M for its “hyper-fermentation” technology (a way to scale precision fermentation processes) and the development of a large-scale production facility.

🇬🇧🍫 Nukoko, a British startup, raised over €1.3M to scale the production of its cocoa-free chocolate bar.

Regulation & public support

🇺🇸 🍬 Oobli, a US-based startup, received regulatory approval (GRAS status) for its sweet protein developed through precision fermentation. Oobli’s sugar alternative doesn’t impact blood glucose or gut health.

Industry news & trends

🇨🇭🏭 An investor group is pushing Nestlé to move away from unhealthy food products (notably ultra processed foods and the use of chocolate)

🇬🇧 🍦Unilever will sell its ice cream business (including brands such as Magnum and Ben&Jerry’s). The goal for Unilever is to focus on brands which have “complimentary operating  models” (same supply chain, point of sale, etc.). Beyond, the ice cream division was underperforming compared to Unilever’s other businesses. It’s another sign of an emerging trend of very large companies splitting or selling whole segments of their businesses to better focus on those with the highest potential for growth.

💥 Learnings from FoodTech bankruptcies
🍲 🖥️ The future of the restaurant

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