Atlast Food has raised $40 million in a Series A funding round, as it looks to expand the production of its plant-based bacon alternative made from mycelium. The US food tech company develops “whole cut” plant-based meats – as opposed to common extruded analogues – in partnership with mycelium tech firm Ecovative. Atlast aims to supply its vegan meat substitutes to partners around the globe through its own brand MyEats. With the capital, Atlast plans to further develop and scale its technology and team. This includes supporting the construction of what it claims will be the world’s largest aerial mycelium farm. The Series A round was led by Viking Global Investors with participation from Footprint Coalition Ventures – recently launched by Robert Downey Jr – 40 North, AiiM Partners, Senator Investment Group, Stray Dog Capital, as well as leaders of Whole Foods and Stonyfield. Atlast says the funding comes after a year of “immense growth”, following the launch of its first product – MyBacon strips in November 2020. The start-up is currently working with major brands to supply its plant-based bacon substitute at commercial scale. “This investment will allow us to meet the incredible demand we’ve felt for our product. We are building the largest mycelium production facility in the US to provide consumers nationwide with a tastier alternative to their favourite animal proteins,” said Stephen Lomnes, president of Atlast Food. Lisa Feria, CEO at Stray Dog Capital, said: “Atlast is creating a new category of plant-based foods by offering whole cut options. Mycelium, Atlast’s unique ingredient, is nutritious, versatile, and scalable – consumers should get ready to see a lot more mycelium in their stores and on their plates.” #AtlastFood #MyEats #plantbasedmeat #US

SunOpta has acquired plant-based beverage brands, Dream and WestSoy, from The Hain Celestial Group for $33 million. With distribution across the natural and grocery channels, the Dream brand offers a range of shelf-stable, plant-based milks. SunOpta currently produces around half of the brand’s product portfolio and has done so for over a decade. Available at many national retailers, the WestSoy range includes a variety of shelf-stable soy beverages, including a number with USDA organic certification and certification from the American Heart Association as a heart-healthy product. The entire WestSoy product portfolio is currently produced by SunOpta. With the acquisition, SunOpta aims to accelerate the growth of its plant-based foods and beverages segment. “These two brands are perfect examples of niche brands that complement, but do not directly compete with, our vitally important co-manufactured partners,” said SunOpta CEO, Joe Ennen. “Since SunOpta has been manufacturing these brands for years, when this opportunity presented itself it was an obvious fit for us to own these brands.” Mark Schiller, Hain Celestial president and CEO, said: “With today’s announcement and the strategic sale of our North America non-dairy beverages business to SunOpta, we provide the market with the latest example of what has been an ongoing transformation of our brand portfolio. “We considered this business to be non-core within our North American business, and as such, this divestiture fully aligns with both our portfolio simplification process and prioritisation efforts of our ‘get bigger’ brands.” Hain Celestial previously divested its WestSoy tofu, seitan and tempeh unit, as part of its efforts to streamline its portfolio of brands. #WestSoy #HainCelestial #Dairyalternatives #Dream #SunOpta #plantbased

New snacks brand Good & Honest has released a new range of popped crisps, as it aims to tap into the growing better-for-you snack market in the UK. Made using ‘all natural’ ingredients, the crisps are said to be lower in calories and saturated fat, as well as a good source of both fibre and protein. The brand was founded with the mission: good ingredients, honestly made. It does not use artificial preservatives, colours or flavours. The majority of Good & Honest’s snacks are suitable for vegan diets, while others are vegetarian. They feature core, protein and veggie varieties. The core popped crisps line comes in sweet BBQ, sea salt, sweet chilli and sweet & salty variants. Meanwhile, the protein line is currently available in sweet BBQ, cheese & onion, salt & black pepper flavours and contains at least 20g of protein per 100g. Good & Honest Popped Veggie Crisps feature vegetables such as chickpeas, sweet potato, pea, and beetroot and come in salted, sweet chilli, sour cream and salted varieties. Select flavours of Good & Honest popped crisps have launched in Morrison’s supermarkets nationwide and will be available on Ocado from May. #betterforyou #GoodampHonest #healthysnacks #UK

US food brand Tattooed Chef is expanding its portfolio with the launch of five new plant-based cauliflower crust pizzas. The gluten-free offerings include a plant-based vegetable pizza, featuring a mix of vegetables and mozzarella-style shreds, and a plant-based white pizza, with spinach, creamy garlic sauce and mozzarella-style shreds. Meanwhile, Tattooed Chef’s new plant-based pepperoni and plant-based sausage & pepperoni pizzas combine the brand’s proprietary meat alternatives with mozzarella-style shreds. A plant-based two cheese offering featuring both mozzarella- and cheddar-style shreds completes the new cauliflower crust pizza line-up. Tattooed Chef founder, Sarah Galletti, said: “We are excited to officially launch our 100% plant-based pizzas. At Tattooed Chef, we are constantly looking at ways to put a plant-based twist on classic favourites – nostalgic innovation. “These 100% plant-based pizzas not only taste delicious, but also have a clean ingredient deck which more and more consumers are looking for in the alternative space. Relentlessly innovating is what we do at Tattooed Chef, and we are here to revolutionise plant-based eating.” The plant-based vegetable pizza, plant-based white pizza and plant-based pepperoni pizza are available now in the frozen section at all Meijer locations, and the full range will be launching in additional retailers in the coming months. #glutenfree #plantbasedcheese #TattooedChef #US

US agribusiness Bunge has invested AUD 45.7 million ($35.4 million approx.) in Australian Plant Proteins (APP), a supplier of plant protein isolates. APP produces and supplies protein isolate powders sourced from local Australian pulses – including faba beans, yellow peas, mung beans, chickpeas and red lentils – which can be used in a variety of plant-based applications such as beverages, yogurts, meat alternatives, protein bars, sauces and baked goods. The investment will enable APP to double the output of its plant protein isolates production by March 2022. Founded in 2016 by agricultural investment company Eat Group, APP launched its first commercial-scale processing plant facility in Horsham last year. Under the terms of the agreement, Bunge will acquire a minority stake in the company and become the exclusive distributor for APP in the Americas. Bunge will also have the option to license APP proprietary processing technology outside Australia. “Securing investment and distribution agreements with a major multinational such as Bunge, alongside our existing partnership with Scalzo Foods in Australia and New Zealand, is testament to the value and ongoing growth in demand for quality, plant-based protein options,” said Brendan McKeegan, APP co-founder and director. Through the partnership, the companies aim to meet the increasing demand for highly functional, non-genetically modified plant proteins from plant-based food and beverage manufacturers. “As soon as APP commenced commercial production in November 2020, we experienced soaring demand for our premium faba bean protein isolate in Australia and internationally, with customers impressed with the product’s high functionality and clean taste,” McKeegan added. According to APP, the high functionality of its faba bean protein isolate stems from its proprietary fractionation process that retains protein quality during production. Bunge entered the plant-protein segment with a portfolio of pea and canola proteins in 2020 and is now expanding with APP’s offerings. “By combining APP’s proprietary extraction technology with our application expertise and global sales and distribution networks, we provide a significant competitive advantage in making quality plant protein accessible to customers around the world,” said Kaleb Belzer, Bunge’s VP, protein business. #AustralianPlantProteins #fababean #Australia #plantprotein #Bunge

East Asian foods brand Tiger Tiger has released a new vegan range of free-from noodle kits in the UK, enabling consumers to recreate authentic meals at-home. Based on traditional recipes with a contemporary twist, the line comes in six flavours: Thai lemongrass & lime, Japanese-style teriyaki, Japanese-style yakisoba, Korean-style kimchi, Thai red curry and Japanese-style katsu curry. Suitable for ambient storage, the kits feature ready-cooked rice noodles, sauce and a garnish. Each variant is suitable for vegans and gluten, dairy and nut free. According to Tiger Tiger, consumers need to simply add vegetables or their protein of choice in a pan to create a meal for two in just a few minutes. “The rapid rise in consumer demand for taste adventure and free from, combined with the popularity of replicating restaurant-style meals at home, means that there is now a huge opportunity for retailers to capitalise on these growing trends,” said Tiger Tiger sales and marketing director, Debbie King. “Until now there has not been a range of Asian inspired, free from noodle meal kits available in the UK as they tend to have been only Thai-based, so we’re delighted to be bringing all these wonderful flavours to market while also meeting the needs of our health conscious free-from consumers.” The noodle kits have started rolling out in the free-from aisle in Sainsbury’s stores nationwide for an RRP of £2.99. #conveniencefood #TigerTiger #mealkits #freefrom #UK

Chickpea snack brand Hippeas has announced the appointment of Paul Nardone as the company’s new CEO, effective immediately. Nardone is said to have more than 30 years of industry experience, having held roles at a variety of food, beverage and consumer packaged goods companies. He has previously served as CEO of Annie’s Homegrown, Stirrings, Immaculate Baking and PopCorners. In his new role as Hippeas CEO, Nardone will focus on expanding the brand’s portfolio, increasing production and opening new channels of distribution. Hippeas launched in 2016 with a line of organic chickpea puffs and has since expanded its portfolio to include chickpea-based tortilla chips. Both lines are USDA organic, certified gluten-free and vegan. The brand’s products are available in the US and UK in retailers such as Kroger, Target, Whole Foods and Waitrose. “As we continue to build excitement and momentum around the Hippeas brand, Paul’s vast experience and perspective in building and scaling emerging brands will be invaluable,” said Livio Bisterzo, Hippeas founder and executive chairman. “I’m excited to see Hippeas reach its full potential and fulfil my original vision of the brand becoming a household name for American consumers.” Newly appointed Hippeas CEO, Nardone, added: “As plant-based diets and a strong focus on health and wellness continue to become more mainstream, Hippeas has tremendous growth potential in the better-for-you snack category. I’m looking forward to collaborating with Livio and the Hippeas team to take the brand to new heights.” Earlier this year, Hippeas announced that it had secured a $50 million investment from global investment fund The Craftory. #chickpeas #Hippeas #snacks #US

Global venture capital fund, Lever VC, has announced a $46m fourth close of its Lever VC Fund I, which focuses on the alternative protein space. The Lever VC Fund I’s third and fourth closes included the addition of three corporate investors from Europe and Asia, as well as capital from NFL and NBA athletes, British nobility and a range of family offices worldwide. Lever VC invests in early-stage plant-based and cell-cultivated meat and dairy companies, and has built a portfolio of 14 alternative protein start-ups from across the US, Europe, Asia and Latin America. TurtleTree Labs, Mission Barns, Bluu, Better Meat Co, Good Planet Foods and Grounded are all among the companies that have received investments from Lever VC. “We are pleased to have welcomed a variety of great, value-add corporate strategic and family office investors into the Lever VC Fund,” said Lever VC managing partner, Nick Cooney. “The Fund’s third and fourth closes included capital from NBA and NFL athletes, British nobility, alternative protein industry veterans, and leading European and Asian food corporates that will bring tremendous reach to our portfolio companies.” The Fund remains open to additional investors and plans to hold its final close in June. #alternativeproteins #cultivatedmeat #Dairyalternatives #LeverVC

UK female wellness brand Free Soul has received a seven-figure investment from Sonny Arora, an investor in European health and nutrition start-ups. Established in 2018, Free Soul offers a range of wellness products with a plant-based focus to meet the unique nutritional needs of women. The brand’s portfolio – which includes Protein Blends, Complete Meal Blends and a newly-released Vitamin Gummies range – looks to support female hormonal balance, bone density, energy and mood. The direct-to-consumer brand has reportedly seen triple digit growth year-on-year and successful international expansion. “We started Free Soul with the dream of supporting women across the globe with their nutritional and wellness needs, and are incredibly grateful that so many have already embraced the brand,” said Arjun Sofat, CEO and founder of Free Soul. “We have found with Sonny and his team, an experienced world-class partner, who believes in, and supports, our vision. We look forward to Free Soul becoming synonymous with female wellness more broadly as we continue to scale and launch the next raft of products.” Sonny Arora brings with him a background in food ingredients, after establishing Soya International, a non-GMO and natural emulsifiers business which trades in 40 markets globally. In 2019, AAK bought an 80% stake in Soya International. Following the investment, Arora will join Arjun on Free Soul’s board of directors. Arora said: “Free Soul is an exciting new brand which has the required product portfolio and management to drive growth to significant scale. Critically, it also recognises the importance of the science in nutrition. This is a central criteria for all our target investments in the health, nutrition and nutraceutical sector.” #healthandwellness #plantbasedprotein #SoyaInternational #FreeSoul #UK

Nestlé has announced the launch of a plant-based, ready-to-drink (RTD) version of its Milo cocoa beverage in Asia, along with two plant-based coffee RTDs. The new Milo Dairy Free recipe replaces the milk in the original formula with almond and soy, but the other two core ingredients – malt and cocoa – remain the same. The plant-based Milo drink will first be released in Malaysia in April, before being introduced in further markets. The release follows the launch of plant-based Milo powders in Australia last year. Nestlé claims that each bottle offers 6.5g of protein and is also low in sugar, with a combination of vitamins and minerals. Nestlé Malaysia is also releasing two other plant-based beverages alongside the Milo launch: Nescafé Dairy Free Almond Latte and Nescafé Dairy Free Oat Latte. Both drinks are blended with Nescafé coffee, but the almond latte drink fuses almond and pea, while oat and soy are the main ingredients for the oat latte. Nestlé claims that the release of the beverages aims to meet the rising demand for plant-based food and drink options from Asian consumers. According to figures provided by Nestlé, 40% of consumers in the region are ‘shifting to more plant-based diets’, with 11% following vegetarian and vegan diets. Mayank Trivedi, head of the dairy strategic business unit at Nestlé, said: “Milo is an iconic brand in Malaysia and across Asia, and much-loved across generations. “We want to provide consumers with on-trend alternatives in formats they want. That’s why we’re delighted to launch Milo Dairy Free to support people’s lifestyle choices.” #Nestlé #NestléMalaysia #Milo #plantbaseddairy #Malaysia

UK-based snack brand Real Handful has entered the savoury snacking category with new baked nut and trail mix lines. Craft Baked Nuts come in three varieties – sea salted peanuts, salt & vinegar peanuts, and smoky BBQ almonds – in 50g packs and 112g resealable pouches. The range features naturally seasoned hi-oleic Argentinian peanuts and Californian almonds which are oven baked in batches. Inspired by the brand’s sweet trail mixes, Real Handful’s Savoury Trail Mixes combine baked nuts and salted corn. The line is available in three flavours: super sweet & salty trail mix, salt & vinegar verve trail mix, and smokin’ BBQ trail mix. Both products are vegan, high in fibre and a natural source of plant protein. “From our roots in Fruit & Nut ‘Trail Mix’ snacking we recognise the incredible benefits that are inherent in snacking on nuts, veggies and pulses and are excited to be challenging some of the savoury snacking norms by creating and packaging these new ranges differently,” said Joe Taylor, founder of Real Handful. “Consumers are looking for every opportunity to make better choices and so by baking our nuts rather than frying or roasting, by using hi-oleic peanuts that are significantly higher in heart healthy monounsaturated fats and by rolling out widely recyclable packaging we’re giving them the choice that they deserve whilst also delivering incredible flavour.” The new products can be found in Ocado, Waitrose and Sainsbury’s, as well as independent stores across the UK. #healthysnacks #nuts #RealHandful #UK

US frozen pops producer, Chloe’s, is adding three new products to its range of oat milk varieties and introducing its first no-added-sugar pop. The brand’s new brownie batter, chocolate peanut butter and cookies & cream Oatmilk Pops are plant-based as well as kosher, and are free from gluten. “Oat milk’s popularity continues to surge and with such enthusiastic feedback from our customers, doubling down on our oat milk offerings with delicious, rich new varieties was the obvious choice,” said Chloe Epstein, co-founder and president of Chloe’s. “The better-for-you, plant-based ingredient profiles of our new Oatmilk Pops prove that it’s possible to make a decadent frozen treat while still being mindful of ingredients and being environmentally responsible – qualities that are meaningful to us and our customers.” The three new offerings join salted caramel, mint chip and raspberry chip variants as part of the brand’s oat milk-based range. At only 40 calories, the new Chloe’s No Sugar Added Strawberry Pop is also plant-based, gluten free and kosher, and uses allulose and monk fruit as natural sweeteners. Commenting on the launch of the pop, Epstein said: “With so many looking to limit sugar intake, we wanted to specifically respond to the need for a delicious, no-sugar-added option without the artificial substitutes.” The No Sugar Added Strawberry Pop will be available from this month at Big Y, Fresh Direct, Gelson’s, King Kullen and Market Basket, along with other retailers. The new brownie batter, chocolate peanut butter and cookies & cream Oatmilk Pop varieties will begin rolling out to retailers this month, including Big Y, Fresh Direct, Jewel Osco and Save Mart. #Chloes #Dairyalternatives #US