• Food Venture Financing Trends
• CPG Corporate Venture and Private Equity Funds

Food Venture Financing Trends

• NotCo, an AI foodtech company, announced that it raised $70 million in its Series D round. The company plans to use the funds to expand its B2B product services.
• Equinon, a high-tech optimized crop breeder, announced that it raised $35 million in its latest funding round. The company will use the funds to research and develop new plant-based proteins.
• Flower Foods announced that it will acquire Papa Pita Bakery, a manufacturer and distributor of baked goods, which will expect to close in the first quarter of 2023.
• B&G Foods announced that it plans to sell its Back to Nature brand to Barilla America for an undisclosed amount.

CPG Corporate Venture and Private Equity Fund

This week's featured CPG Corporate Venture and Private Equity Fund is 1st Course Capital.

• 1st Course Capital ("1CC") is an early stage venture capital firm that invests in innovative business models and technologies that change "how we grow, produce, and distribute food."
• 1CC works with a vision to create a noteworthy positive impact on human health and the health of our planet and communities. Some of the companies supported by 1CC include the following:
  • Bobbie - Infant formula produced using clean and transparent ingredients
  • AgriDigital - Commodity trading platform remaking the supply chain for improved traceability and margins for farmers
  • BlueCart – Powering B2B e-commerce solutions for the foodservice industry
  • Dispatch Goods - Reverse logistics company offering re-usable packaging for restaurant delivery and takeout
  • Maev - Building the future of dog care

[View source.]