Although I’d say that Mintel Associate Director, Alex Beckett’s words echo here too. In the UK for example, a survey by Mintel showed that 25 percent of people between the ages of 21 and 30 stated that Covid-19 has made them more interested in following a plant-based diet.Īs of the writing of this article there is no similar report corresponding to the Latam region. What’s more certain is there are consumers who are re-evaluating their eating habits. It’s still debated whether the novel coronavirus popped up in the wet markets of Wuhan. These more eco-friendly edibles can currently be found in retailers throughout Mexico. The foodtech has been working with ingredients like amaranth, quinoa, and peas to develop vegan dairy products like milk and cheese. Through the Zurich-based venture capital (VC) firm, Mexican Heartbest Foods recently raised its Series A for US$2 million. And it has found such a contender in Latin America. (Updates with chart, foodtech funding after fourth paragraph.Contxto – Blue Horizon Ventures is all about investing in startups that are disrupting the food market for a more sustainable future. “I can talk for hours about the cool companies we are seeing.” “The innovation we are seeing is truly amazing,” Kleindl said. The firm has plans to launch a second fund in the fourth quarter, which will be slightly larger than the first one, he said. “We really try to take the animal out of the equation,” Kleindl said. and lab-cultivated meat maker Mosa Meat BV. Other investors include the European Investment Fund, Mexican food manufacturers Grupo Bimbo SAB de CV and Sigma Alimentos SA de CV, Be8 Ventures Management GmbH and Givaudan SA.īlue Horizon Ventures, where about 90% of the staff are vegan or vegetarian, has so far backed startups such as plant-based meat producer The Livekindly Co. Venture-capital investors funneled $18.1 billion into foodtech startups in 2020, largely thanks to the appeal of food delivery apps or online grocers, according to researcher PitchBook.īlue Horizon drew interest from institutional investors, even obtaining money from two pension funds, Kleindl said, without giving further details. Much of the investment in food of the future is being handled by venture capital firms. – which has surged fivefold since its 2019 initial public offering – investors are tapping the drive to replace meat with environmentally friendly alternatives or tackle problems such as food waste. “Covid has accelerated the shift of capital toward more impactful, more sustainable investments.”Ĭlimate change, a growing population, and most recently the pandemic, have spurred a push for alternative food sources. “Due to the pandemic, the awareness of sustainability and the loopholes in the food system became so evident,” Kleindl said in an interview. The fund has attracted more than 100 investors and exceeded its initial target of raising 100 million euros, according to Managing Partner Michael Kleindl. Investors are piling into a vegan-focused venture capital fund as the coronavirus pandemic highlights growing stresses in global food production.īlue Horizon Ventures, a Zurich-based venture capital firm focused on making food more sustainable, has closed a 183 million-euro ($222 million) fund that will invest in startups from alternative proteins to smart packaging.
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