39 startups offering alternatives to food.
These startups are offering next-gen food replacement choices from gluten-free dumplings to lab-cultured meat to vegan milk and eggs.
Based on the investment portal InVenture
Nearly 20% of Americans eat gluten-free products, according to a 2015 Gallup poll. Also, about 25% have lactose intolerance, which reduces their consumption of staples. Moreover, up to 7% of Americans consider themselves vegetarian, and the market for meat substitutes will grow to over $1 billion by 2020, up from $850 m in 2014.
The growth in the market for gluten, meat, or dairy alternatives is driven by real or perceived health, environmental, and lifestyle benefits. But another more important trend is innovation that’s allowing food manufacturers to create the alternatives for animals and gluten products while still offering pleasing flavor and texture.
Based on the CB Insights data was compiled the infographics startups that offering alternatives for food. The companies have raised over $ 500m in aggregate. The company Impossible Foods attracted investment $183M from Khosla Ventures, Bill Gates, Horizons Ventures, Google Ventures, and others.
Generally, Food tech startups attracted $ 5,7B in 2015.
In the list of company also got a lot of startups of the Indie.Bio , including Muufri designing animal-free milk; Miraculex , working on plant-based sugar substitutes; Gelzen , creating animal-free gelatin; Willow Cup engineering plant-based dairy-free lattes.
The structural food sector startups food tech includes the following categories:
- Dairy-free milk and cheese – Companies producing a variety of vegan dairy products. Ripplе — recently launched in target nationwide — raised $44M and offers a pea-based dairy-free milk. Kite Hill – ($25M in funding) uses nut milk to make dairy-free cheeses, yogurts, and desserts, Melt Organic – ($2M) offers vegan butter, and Wayfare –provides dairy-free butter, cream cheeses, and sour cream.
- Egg substitutes – Hampton Creekleads the category with $120M in funding to make its vegan, gluten-free egg substitute. Clara Foods ($2M) hopes to develop a lab-cultured egg white.
- Meat substitutes –Companies offering animal-free meat products in various ways. Impossible Foods makes a plant-based burger it claims tastes, looks, and feels like meat, and which made its first market entry in Manhattan restaurant Momofuku. Beyond Meat ($17M) has a similar plant-based product, while Memphis Meats aims to create real meat without animals through lab culturing. New Wave Foods is working on plant-based shrimp.
- Insect protein – Companies using insects – mainly cricket flour – for snacks and protein bars Exo raised over $5M for its cricket-based protein bars, while Entomo Farms with $1M focuses on protein powder.
- Animal-free gelatin –Gelzen raised $200 thousands in seed funding aiming to engineer an animal-free gelatin, which would enable a wide range of products to become vegetarian.
- Flavoring substitutes –NuTek, with $14M in funding from Khosla Ventures, sells potassium-based salt with 75% less sodium than table salt. Miraculex ($200K seed funding) aims to create a healthy sugar substitute.
- Meal substitutes –Led by Soylent ($21.5M in funding, including from Andreessen Horowitz, Index Ventures, and Lerer Hippeau Ventures) these companies provide drinks they claim can fully replace the need for other food, if desired.
- Gluten-free baked goods – Companies providing foods like waffles (Surprisingly Vegan, with $40K), frozen dumplings and Asian meals (Feel Good Foods, with $350K), and tarts (Hail Merry, with $6M) that are gluten-free.
It should be remind that at the beginning of 2016 InVenture Investment Group and FRP Events held a competition of the best food tech projects in Ukraine.
The list of the most prospective startups in the field of food tech.
|Kite Hill||Khosla Ventures, 301 INC, CAVU Ventures, New Crop Capital||Dairy-free milk and cheese|
|Ripple||Google Ventures, Inventages Venture Capital, Collaborative Fund, Eagle Cliff Partners, Blueberry Ventures||Dairy-free milk and cheese|
|Melt Organic||Alliance of Angels, Highway 12 Ventures, Frontier Angel Fund, Boise Angel Alliance, Fargo-Moorehead Angel Investment Fund||Dairy-free milk and cheese|
|Wayfare||N / A||Dairy-free milk and cheese|
|Heidi Ho||Lori Greiner||Dairy-free milk and cheese|
|Willow Cup||Indie.Bio||Dairy-free milk and cheese|
|Muufri||Horizons Ventures, SOSventures, Indie.Bio||Dairy-free milk and cheese|
|Daiya||N / A||Dairy-free milk and cheese|
|Ruby’s Naturals||Mistral Equity Partners||Dairy-free milk and cheese|
|Hampton Creek||Bill Gates, Ash Patel, Collaborative Fund, AME Cloud Ventures, BlackPine Private Equity Partners||Egg substitutes|
|Clara Foods||Hadi Partovi, Ali Partovi, David Friedberg, Gary Hirshberg, Indie.Bio||Egg substitutes|
|Impossible Foods||Khosla Ventures, Bill Gates, Horizons Ventures, Google Ventures||Meat substitutes|
|Beyond Meat||Kleiner Perkins Caufield & Byers, Bill Gates, Collaborative Fund, DNS Capital, 301 INC||Meat substitutes|
|Memphis Meats||SOSventures, Indie.Bio, New Crop Capital||Meat substitutes|
|New Wave Foods||Indie.Bio, New Crop Capital, Efficient Capital||Meat substitutes|
|Exo||Collaborative Fund, Kickstarter, AccelFoods, Dentsu Ventures, Amelia Boone||Insect protein|
|Entomo Farms||Aqui-Invest, BPI France, Sowefund, Stephane Zittoun, Jean-Philippe Bour||Insect protein|
|Chirps (Six Foods)||MassChallenge||Insect protein|
|Bitty||Michael Staton, Arielle Zuckerberg, Morgan Chaney, Lisa Tessarowicz, Jonathan Wolter, Brian Haven, Schaeffer Arnold, Victoria Graham||Insect protein|
|Aspire Beverage Company||InnoVentures Capital Partners||Insect protein|
|Crik Nutrition||N / A||Insect protein|
|Chapul||Mark Cuban||Insect protein|
|Gelzen||Indie.Bio, New Crop Capital||Animal-free gelatin|
|NuTek||Khosla Ventures||Flavoring substitutes|
|Soylent||Аndreessen Horowitz, Index Ventures, Lerer Hippeau Ventures||Meal substitutes|
|Ample Foods||CJ Reim, 500 Startups||Meal substitutes|
|Mosaic Nutrition||N / A||Meal substitutes|
|Ambronite||Lifeline Ventures, Dan Bragiel||Meal substitutes|
|Kuma Snack||N / A||Meal substitutes|
|Surprisingly Vegan||N / A||Gluten-free baked goods|
|Feel Good Foods||N / A||Gluten-free baked goods|
|Hail Merry||HBC Investments, Powerplant Ventures||Gluten-free baked goods|
|Manini’s||N / A||Gluten-free baked goods|
|Kiki’s||N / A||Gluten-free baked goods|
|Tres||N / A||Gluten-free baked goods|
|TasteGuru||N / A||Gluten-free baked goods|
|FreeToEat||N / A||Gluten-free baked goods|
|Lucy’s||N / A||Gluten-free baked goods|
invites the developers of innovative products in the field of agtech and food tech and the representatives of agricultural sector in Odessa to take part in all-Ukrainian Hackathon on Agrarian Innovations, which will be held on 14-16 October.