Alternative protein news has been dropping in faster than fall leaves, and so we’ve gathered some of this week’s top stories, including Revo Foods’ product launch, Aquacultured and Daring Foods’ funding rounds, and Brave Robot’s new cake mix.
Revo Foods launches plant-based salmon in Austrian grocery stores
This week, plant-based seafood startup Revo Foods launched its alternative salmon product in the Austrian supermarket chain Billa Plus. The product now available on retailer shelves is Revo’s plant-based smoked salmon, made from a base of pea protein and algae oil. Additionally, Revo Foods recently appeared on the Austrian show “2 Minuten 2 Millionen” (similar to Shark Tank), where the company garnered interest from potential investors. In 2022, the company has plans to launch plant-based tuna, smoked salmon spread, and sashimi products.
Aquacultured raises $2.1 million in oversubscribed seed round
Alt-seafood startup Aqua Cultured has raised $2.1 million in pre-seed funding. Unlike many other alt-seafood startups using a straight plant-based or cell-cultured approach, Aqua Cultured uses microbial fermentation techniques to create whole-muscle cut seafood alternatives. The company has developed formulas for tuna, whitefish, squid, and shrimp that leverage its novel fungi as the primary ingredient. Investors include Supply Change Capital, Aera VC, Sustainable Food Ventures, Hanfield Venture Partners, Lifely VC, Conscience VC, Kingfisher Capital, Big Idea Ventures. $2.1 million, a nice pre-seed raise, is even more impressive considering the company only started last month.
Brave Robot releases cake mix
Brave Robot, the first consumer products spinout of precision fermentation platform company Perfect Day, unveiled a new product this week, the “Climate Hero Super Cake.” The yellow cake mix uses the same animal-free milk protein found in the company’s ice cream and replaces the equivalent of three eggs. The mix – which is packaged in a compostable bag – contains other standard ingredients like wheat flour and sugar and requires added oil and water to prepare. One bag of the mix makes two 8-inch round cakes and costs $18.
Daring raises $65 million, launches in Walmart
Daring Foods, a plant-based chicken brand, announced this week that it has closed a Series C round totaling $65 million, and that it will launch its products in Walmart. The round was led by Founders Fund, with D1 Capital Group, and celebrities such as Naomi Osaka, Cameron Newton, Steve Aoki and Chase Coleman participating. This brings the company’s total funding to $120 million. Daring’s plant-based chicken will be available in 3,000 Walmart locations nationwide.