US Company Impossible Foods Ranks 1st in Global Funding Survey
To no one’s surprise, the U.S. company Impossible Foods is the best-funded vegan company of 2021, a new study shows, with more than $1 billion in funding. Another U.S. company, Eat Just, came in fourth with $450 million in funding.
The study, conducted by professional kitchen suppliers Maxima Kitchen Equipment, analyzed funding available to more than 400 companies that specialize in the production of vegan and plant-based food.
Impossible Foods, founded in 2011 and based in California, takes top spotwith a whopping $1,591,537,000 of funding, coming from 54 investors. The company specializes in plant-based substitutes for meat, dairy and fish products.
The top five continues with three more American companies: LIVEKINDLY, based in Los Angeles and founded in 2017 is second with $535,000,000 from just eight investors; Chicago-based Nature’s Fynd is third with funding totaling $508,000,000 from 17 investors. In fourth comes Eat Just, founded in 2011 and based in San Francisco, with $450,435,000 in funding.
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“Plant-based is the future of nutrition, with more people switching to a vegan diet in order to preserve the planet and decrease their carbon footprint,” a Maxima Kitchen Equipment spokesperson said. “Our study shows how much effort there is behind this pledge, with plenty of investors – 134 among our top five alone – confident that making sure plant-based alternatives are available for everyone, everywhere is a lucrative business strategy.”
The research was carried out by Maxima Kitchen Equipment, which has more than 40 years of experience in the supply and maintenance of professional kitchen equipment.
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PlantPlus Acquires Plant-Based Food Makers Sol Cuisine, DEW
Chicago-based PlantPlus Foods, maker of plant-based foods with a joint venture between a leading global food solutions and nutrition company, ADM, and one of the leaders in the protein sector, Marfrig, announced its portfolio expansion in North America with the acquisition of Sol Cuisine following the recent acquisition of DEW Drink Eat Well, which has the Hilary’s brand.
These strategic acquisitions further position PlantPlus Foods as an industry enabler in the plant-based space as the company seeks to deliver more high-quality plant-protein choices for flexitarian, meat-eating and vegan consumers alike across the Americas, according to the company.
Sol Cuisine further expands the company’s portfolio to include plant-forward and meat analogue products in appetizers, entrees and meat analogue components to better meet the needs of consumers and their lifestyle choices across multiple categories. PlantPlus Foods is able to augment its scaled raw materials, high-capacity production and distribution capabilities from parent companies and strategic partners. These capabilities enable an end-to-end, vertically integrated ecosystem to support enriching plant-based protein choices.
The high demand for accessible and nutrition-forward products in the rapidly growing North American plant-based market provides the opportunity for PlantPlus Foods and its newly acquired partners to satisfy the needs of consumers while capitalizing on the potential of where the industry can grow. PlantPlus Foods looks to expand production and commercialization for plant-based protein products as it builds capabilities and infrastructures that will benefit the industry as a whole. PlantPlus Foods will continue to identify and address the industry’s white spaces while providing solutions to increase accessibility to more plant-based protein choices – enabling the industry to realize its enormous potential.
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Sol Cuisine is a fast-growing producer of branded and private label, consumer-preferred plant-based protein offerings across key center-of-plate and appetizer categories. The Company’s products are offered through an established omni-channel distribution platform in Canada, the United States and Mexico.
Hilary’s cooks craveable plant-based foods that are packed with whole veggies, grains, and beans that are always non-GMO and free from the top 12 common food allergens including wheat/gluten, soy, dairy, egg and nuts. The product portfolio consists of plant-based burgers and sausages and is distributed in the United States and Canada.
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Giant Food Encourages Employees to Get #HealthyAtWork
Giant Food, the leading greater Washington, D.C. regional grocery chain, concluded its annual companywide #HealthyAtWork associate challenge by rewarding 22 employees with free fruits and vegetables for a year.
Guided by Giant Food’s Healthy Living Team of licensed nutrition professionals and in-store Healthy Living Ambassadors, the four-week program that ran Sept. 20 to Oct. 17 incentivized store and warehouse associates to participate in healthy behaviors and learn more about programs and services available to support their wellness goals.
“Giant is committed to supporting the health and well-being of our associates,” said Lisa Coleman, MS, RD, and director of healthy living. “The pandemic has placed enormous pressure on our associates who have been on the frontlines every day in difficult circumstances supporting our communities. Through programs like these, it is our goal to build a culture of health and support for all associates.”
The #HealthyAtWork activities prompted associates with simple weekly goals, tied to Giant’s key healthy living pillars, that built on each other to create habits designed to support a healthier overall lifestyle:
- Movement: Try a new exercise!
- Emotional Health: Reconnect with a friend!
- Physical Health: Check your blood pressure at the pharmacy!
- Nutrition: Swap a sugary beverage for water!
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Activities also directed associates to Giant’s own healthy living programs including the Healthy Living By Giant podcast, blogs and classes as well as in-store shopping tools such as Guiding Stars, the nutrition rating system that identifies better-for-you options on the shelves.
Associates enrolled in Giant’s Flexible Rewards program also earned 5X Flex points on healthy food purchases throughout the program, which were identified by the Guiding Stars designation.
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