Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
The USDA has officially nixed the organic checkoff program due to a lack of consensus within the industry for a national research and promotion program for certified organic products. The agency also announced the requirement for retailers to release the amount of money they get through SNAP.
Good Eggs has bounced back from nearly closing in 2015 with a recent infusion of $50 million to take on the Amazon-Whole Foods behemoth. Kroger has exclusively partnered with Ocado to bring its automated fulfillment capabilities to America. Whole Foods has announced a 10% discount to Prime members.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
1. USDA Nixes Organic Checkoff Program – Food Dive
The department said there wasn’t enough support to move forward on a plan that would have larger producers pay about $30m annually to fund a national research and marketing strategy.
2. How Good Eggs Came Back from the Brink – and Plans to Take on Amazon – Fast Company
The online delivery company came close to shutting down in 2015. Now it’s raised $50m and is planning to grow beyond San Francisco by offering an alternative to the Amazon-Whole Foods behemoth.
The retailer has signed an exclusive agreement with Ocado to bring its automated fulfillment capabilities to America. Ocado’s technology offers online ordering, automated warehouse fulfillment and delivery logistics.
4. Next Up at Amazon-Run Whole Foods: Half-Priced Halibut Steaks – New York Times
Whole Foods will give large discounts for some products, and 10% off hundreds of sale items in stores for Amazon Prime members.
5. USDA Must Release SNAP Payment Data, Court Rules – Food Dive
The amount of money grocery retailers get through SNAP now must be released. Industry groups voiced concerns over unfairly singling out stores serving a poorer customer base.
The San Francisco startup is cutting 30% of its staff and ceasing delivery in Los Angeles, New York and Seattle as it focuses on San Francisco.
For the first time, the World Health Organization wants to ban trans fats from the food supply by 2023. If successful, they say it could save more than 10m lives worldwide by reducing cardiovascular disease.
8. Let Them Eat Trump Steaks – New York Times
Some of the biggest victims of Trump’s obsession with cutting “welfare” will be the very people who put him in office.
9. Spacious Closes $9M Series A to Add 100 Locations + Retail Flagships – Think Outside the Office
The Series A funding was led by August Capital + Baseline, Redpoint, Lerer Hippeau and Box Group. The startup converts empty restaurants into workspaces during the day.
10. Cava Group Is Raising Tens of Millions of Dollars. Again. – Biz Journals
The fast casual restaurant chain raised a $35m equity offering from undisclosed investors. It has already raised $96m in the past few years to fuel its growth.
11. Hospitality Giant Buys Delivery Service Waitr for $308M – Skift Table
The Louisiana-based delivery company will be acquired by Landcadia. It currently has 540k active diners on its platform and partners with over 5k restaurants.
12. Hu Products Closes Round, 43 Investors Strong – Project Nosh
Maker of paleo-friendly, vegan, organic chocolate closed a round just under $10m led by Sonoma Brands. The new investment will allow Hu Kitchen to commercialize six new products already developed in its restaurant.
13. PetPlate Raises $4M in Seed Funding Round – Finsmes
The round was led by Dane Creek Capital with participation from Amity Supply, SWAT Equity, The Yard Ventures, Castor Ventures and BrandProject. PetPlate will use the funds to scale operations to meet demand of its subscription pet meal service.
The $5.1m investment came from LTFD, Fidentia Green Buildings, Finance.Brussels and ECF. The startup plans to build its first aquaponic farm on a site spanning 4k meters above a food hall in the center of the city.
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The post Good Eggs Raises $50M, Sayonara Organic Checkoff Program + More appeared first on Food+Tech Connect.
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