November investments round-up: Significant funding in doing good

This November saw many investments in companies trying to do good for people and the planet.

Gianna Rosenbach, Content Creator, CPG and Digital

November 19, 2022

4 Min Read

Each month, New Hope Network rounds up the must-know investments in the natural products industry. Through Nutrition Capital Network, New Hope Network editors follow investment news to see what financial moves could significantly influence the industry and identify trends with funding support. Check back each month to see the latest investments that caught our eye.

Study: Consumers vote with their dollars

Many Gen Z consumers who were not yet of age to participate in the midterm election are using their dollars to make their voices heard. Consumers of all generations are becoming more aware of the influence they can have in their day-to-day life by being conscious of where they spend and on what. A new report by ARRIS Composites found that three in four Americans prefer to buy products from environmentally minded companies, and one in four Americans will buy products only from companies with sustainable missions or practices. Investors have also noticed the importance of using one’s dollar to support the earth and positively impact people. Check out these recent investments, which are putting money behind the right causes.

Young Mountain Tea using new funding for good

Young Mountain Tea has raised $1.1 million to construct a farmer-owned factory in India and produce zero-waste tea bags. The organic tea company will finance this project with a grant from USAID and Frontier Co-op and a pending equity investment. The company also completed a convertible note round led by SWAN and secured debt and lines of credit from Oregon Community Development Financial Institutions Funds and Vermont private foundations to launch its 100% compostable tea bags.

Related:Natural Products Business School: ESG Crash Course explains strategic importance

CruzFoam leaves no room for plastic with $18M Series A funding

CruzFoam wants to make sure that plastic never enters the ecosystem. To do so, CruzFoam offers a naturally derived and compostable alternative made from chitin, shells from crustaceans such as lobsters and crabs. In addition, the brand can upcycle these shells from seafood shops. The new Series A funding will help the brand speed up production and test new prototypes.

BioVeritas raises $65M

BioVeritas uses fermentation to upcycle food and agriculture waste into ingredients and other uses. The new $65 million funding comes from the company’s majority shareholder, Ara Partners. The company will use the new funds to upgrade its facilities, improve processes and deliver large-scale samples to potential customers in the first quarter of 2023.

Facing the dark side of chocolate

Related:A new era of ESG reporting is starting: What it means for your brand

Mondelēz International, Barrel Ventures, Regba Group and Trendlines are investing in Celleste Bio to bring its cell-based chocolate to market. The Israeli food tech startup is combating traditional chocolate’s sustainability and labor issues by producing cocoa through conventional cell culture methods. The chocolate industry has been plagued by human rights violations and is threatened by climate change in the regions where cacao grows. Celleste Bio’s technology is similar to replicating animal cells for meat and dairy, and the company produces its cacao cells without genetic modification or manipulation.

Peace Out Skincare receives $20M investment

5th Century Partners has invested $20 million as Peace Out Skincare’s first outside investor. The new investment will be used to fund expansion domestically and internationally, create new products, increase the speed of operations, increase marketing efforts and hire key employees. The skincare brand and 5th Century Partners share a passion for inclusion and diversity.

New Wave Foods seas rising funds for its seaweed-based snacks

New Wave Foods, a Scottish seaweed producer, has raised an undisclosed six-figure sum from its shareholders. The new funding will increase production capabilities and expand the company’s range of Shore-branded seaweed products, including chips and ramen broth. The global algae protein market is expected to be worth $1.1 billion by 2026. Algae and seaweed are growing in popularity due to their sustainability and high plant-based protein count.

Snack bar company This Saves Lives acquired by GOOD Worldwide

Kristen Bell and fellow actors Ravi Patel, Ryan Devlin and Todd Grinnell’s snack brand, was acquired by GOOD Worldwide for nearly $5 million. So far, This Saves Lives, on a mission to end world hunger, has donated more than 30 million packets of nutrient-dense Plumpy’Nut to children. In addition, GOOD Worldwide will bring the audience of its media brand, Upworthy, to spread the word about This Saves Lives line of bars and kid’s snacks.

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About the Author(s)

Gianna Rosenbach

Content Creator, CPG and Digital, New Hope Network

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