Participated · Equity · Nov 2024

Loki Foods is developing a whole-cut plant-based cod fillet analog with a prototype built on a protein foundation containing vitamins and polyunsaturated fatty acids. The company aims to improve taste, cookability, texture and nutrition to attract consumers away from conventional seafood and grow the alt-seafood market. Loki received funding to support development of its cod analog prototype. Sustainable Food Ventures highlighted the company’s team, technology and Iceland location as enabling production of alternative proteins using renewable energy and pristine Icelandic water. CEO and co-founder Chris McClure emphasized the nutritional composition of the prototype and the company’s mission to accelerate removal of marine life from the supply chain. The business is based in Reykjavik, Iceland.

Participated · Seed · Jun 2023

Uncaged Innovations develops an animal-free leather alternative made from plant collagen using its proprietary BioFuze technology combined with roll-to-roll manufacturing. The company aims to mimic the texture and performance of traditional leather while reducing environmental impact: its product emits fewer greenhouse gases and uses less water and energy than conventional leather and is biodegradable. Uncaged focuses on scaling production to supply commercial customers and plans to support a commercial launch with the new funding. The company intends to expand its team, notably growing the manufacturing team to increase output. Founded by CEO Stephanie Downs and CTO Dr. Xiaokun Wang, Uncaged is positioning its solution as a sustainable replacement for animal leather. Uncaged Innovations develops a platform of biomimetic substitutes for animal hides, producing vegan leather alternatives that aim to match the luxury feel and durability of traditional leather. The company has built a formulation library based on composite plant-based proteins and polypeptides, leveraging grain proteins as the fundamental matrix to mimic the fibril structure of collagen. Its bioleather platform offers tunability to produce materials with varied mechanical and aesthetic properties for multiple end-use applications. Led by CEO Stephanie Downs, Uncaged positions its materials as sustainable replacements that mitigate environmentally harmful practices in the leather industry. The startup plans to use the recent funding to launch its vegan leather product. Financially, the company completed a $2M Pre-Seed raise.

Participated · Seed · Apr 2022

Nowadays produces a crispy plant-based riff on chicken nuggets made from seven ingredients, including pea protein, wheat flour, sunflower oil and yeast and mushroom extracts. The company uses a low-moisture extrusion process to create fibrous whole-cut products that are formed into nuggets now and intended for tenders and cutlets in the future. It partners with Standard Meat to access existing finishing lines and plans its own manufacturing facility capable of producing roughly six to 60 metric tons of meat per day when fully running. Commercial plans include a summer launch of cutlets direct-to-consumer and in select restaurants, expanded foodservice distribution, placement in certain Whole Foods Market stores later this year, and a gluten-free breading debuting this year. Elder would not disclose revenue, but Nowadays reports a repeat purchase rate of over 20% from early direct-to-consumer sales and has products in restaurants in New York and Los Angeles. The company is using recent funding to scale manufacturing, broaden distribution, and accelerate new product commercialization. Nowadays has launched a plant-based nugget positioned as a healthier alternative to conventional processed meat snacks, claiming the product contains just seven ingredients. The nuggets' key ingredients are yellow pea protein (non-GMO, grown in the US), wholewheat flour, sunflower oil, plant-based fibre, yeast extract, and mushroom extract. The company says the product delivers chicken-like flavour and texture, is high in protein, low in sodium, and free of saturated fat and sugar. Founders Max Elder and Dominik Grabinski bring roughly three and a half decades of combined food-industry experience; Grabinski previously worked for ingredient companies including Cargill and DSM, and Elder has advised Nestlé, General Mills and the Bill & Melinda Gates Foundation’s Nutrition Program. Nowadays is organized as a Public Benefit Corporation with social and environmental responsibilities written into its charter. The nuggets are available to order online in California with national shipping planned, retailing at $39.99 for a 2 lb box (about 50 nuggets) and a $29.99 introductory price for first purchasers. The company plans to launch a gluten-free version later this year and add plant-based "chicken" tenders to its lineup.

Participated · Series A · Sep 2021

Wild Earth produces plant-based and fungi-enhanced pet foods, including a koji-based superfood dry kibble and a Core Collection dry kibble line sold at US retailers such as Walmart and Amazon. The company has expanded distribution via a deal with Zeigler’s Distributor to reach the Mid-Atlantic US. Wild Earth has also developed a cell-based meat broth topper for dogs and is developing beef, chicken, and seafood cell-based meats for planned product launches. The company reported over 700% growth from 2020 to 2021 and says a more than $23 million investment accelerated product innovation and expanded its reach. Co-founder and CEO Ryan Bethencourt led publicity around the company after a 2019 Shark Tank deal with Mark Cuban. As of the latest update, there is no further public progress reported on the cell-based broth launch. Wild Earth is a Berkeley, Calif.-based startup advancing pet food with biotech by developing no-meat food for dogs made from a renewably sourced fungi that provides a complete protein with all ten essential amino acids. The company raised $11m in a Series A to accelerate development of its no-meat dog food, bringing total funding to $16m. The funding round was led by VegInvest with participation from several strategic and venture investors. Wild Earth expects its dry kibble formula to be available in the second half of 2019. Its treats are currently sold online at WildEarth.com, Amazon.com, PupJoy.com, in select brick-and-mortar stores, and wholesale to pet food retailers. The company is led by CEO Ryan Bethencourt, chief science officer Ron Shigeta, Ph.D., and Dr. Ernie Ward. Wild Earth develops fungi-based protein food products for cats and dogs and plans to commercialize a koji-based dog treat scheduled to reach the market at the end of August. The company aims to disrupt traditional petfood makers by promoting ethically sourced alternatives and is connected to the 'Vegan Mafia' network of former financiers and biotech investors. CEO Ryan Bethencourt is part of that investor network and has highlighted the large, growing global pet food market, citing a $94 billion market value last year and anticipated growth as countries like China adopt Western pet ownership trends. Wild Earth has described longer-term plans to create cultured meat cells from lab-grown meat using mouse cells. Financially, the company announced a $450,000 funding round and has now raised nearly $5 million in total.

Participated · Series A · Jun 2021

Tiny Organics is a NYC-based early childhood nutrition company founded by Betsy Fore and Sofia Laurell that launched nationwide just over a year ago. The company provides 100% organic meals for babies and toddlers with no added sugar or salt and never more than 5 grams of natural sugars per serving. Recipes are created in collaboration with Tufts School of Nutrition to suit baby and toddler developmental milestones. Tiny Organics has signed mission-aligned partnerships including Former First Lady Michelle Obama’s Partnership for A Healthier America (PHA) and the Plastic Pollution Coalition. The company closed an $11M Series A and intends to use the funds to expand operations, build brand and customer awareness, and develop new product categories and sales channels. Tiny Organics makes fresh-prepared, savory-forward organic plant-based meals for toddlers that are shipped frozen with dry ice and reheatable in the microwave or on the stovetop. The company packages meals in recyclable cardboard cups and ships in temperature-controlled boxes using compostable and biodegradable insulation. It beta-tested for a year with 100 founding families in New York, tested more than 100 recipes and delivered over 8,000 meals, and currently has a team of more than 10. Tiny Organics plans to scale production by moving from a New York commercial kitchen to a Midwest co-packer with a two-day shipping radius to the continental U.S., and aims to pursue retail distribution (a Tiny Organics freezer in the baby aisle) in 2021 and beyond. The founders are Betsy Fore and Sofia Laurell; an early key hire is COO Carolyn O'Hare and S2G Ventures co-founder Victor Friedberg is a key advisor. The company is targeting lower per-meal pricing (around $3.99 or below) and is hiring a CTO as a next major hire.