Mondra, an AI-driven SaaS platform focused on food supply chain decarbonisation, has closed a £3.6 million pre-Series A funding round. The investment was led by backers including 7 Generation Ventures, AlbionVC, GC Foodtech Ventures, Foodsparks by Peakbridge, Ponderosa Ventures and Vala Capital. Spearheaded by founder Jason Barrett, Mondra's platform serves as a digital infrastructure aimed at supporting the transition of the UK grocery market towards net zero emissions. With 85% of the UK grocery market already onboard, Mondra is positioned to play a key role in enhancing environmental performance and reducing Scope 3 emissions within the food and beverage industry. The funds will primarily be used to accelerate Mondra's deployment across UK grocers, with plans for expansion beyond the UK market and into other retail and consumer packaged goods segments. Additionally, the investment will enable the development of new tools for retailer insights, agricultural data enhancement and carbon insetting. Mondra's platform helps companies across the supply chain to record, share and monitor environmental data using standardised tools, enabling the measurement and management of Scope 3 emissions. By conducting rapid Lifetime Cycle Assessments on thousands of products, Mondra enables brands and retailers to prioritise sustainability actions and engage suppliers, fostering a commercially viable pathway towards a net-zero food system. Mondra recently established the BRC Mondra Coalition, bringing together stakeholders from industry, government and NGOs to create a unified standard for measuring product-level environmental performance. Participating businesses include retailers such as Tesco, M&S, Co-op, Ocado Retail, ASDA, Lidl and Sainsbury’s, along with other brands and suppliers. Barrett said: “We’ve developed a technology platform to tackle one of the biggest environmental issues in the food supply chain, GHG emissions, of which food is estimated at around 30% globally. If the industry is going to achieve its net zero targets, they need to be able to consistently measure, reduce and report with accuracy their scope three emissions and decarbonise their supply chains.” He continued: “Following three years of R&D, we formally launched the platform in 2023. It's been a great start to our journey but there’s so much to achieve and this investment will supercharge our UK growth and support our entry into Europe.” Investors also expressed confidence in Mondra's ability to drive tangible impact and commercial outcomes. Chloe Payne from Ponderosa commented: “We believe that Mondra's footprinting solution can not only assist companies in meeting their Scope 3 emissions reductions targets but can also support product development teams in improving products to meet the demands of end-consumers. In this way, we expect Mondra to help customers drive both impact and commercial outcomes.”

The US Food and Drug Administration (FDA) has announced what it claims to be the “first-ever" qualified health claim for yogurt. The health claim – which came in response to a petition submitted by Danone North America, – recognised a potential link between the regular consumption of yogurt and a reduced risk of type-2 diabetes. Nearly five years in the making, during which time the FDA reviewed the existing research on yogurt and type-2 diabetes, the new claim found that regularly including yogurt in US diets could have a significant benefit to public health. The claim stated: “Eating yogurt regularly, at least two cups (three servings) per week, may reduce the risk of type-2 diabetes according to limited scientific evidence”. With diabetes impacting more than 37 million people in the US, and a further 1.4 million new cases diagnosed every year, this latest health claim is set to increase popularity within the yogurt category.

Mason Dixie Foods, a US-based clean label ‘comfort food’ brand, has introduced a new collection of single-serve frozen breakfast sandwiches inspired by ‘drive-through classics’. The launch aims to bring tasty, clean label and convenient comfort food to the frozen aisle, reimagining fast food favourites with simple ingredients and no preservatives. New products include the Croissant Sandwich, made with hand-laminated sheets of fresh dough with butter, melted cheese, fresh cracked whole egg and 100% natural pork. The Buttermilk Biscuit Sandwich aims to upgrade the classic breakfast sandwich with cheese, cracked whole egg and pork sausage. Meanwhile, pancakes are paired with maple syrup, pork sausage and fresh egg to create the Pancake Sandwich. Finally, the English Muffin Sandwich combines a toasted English muffin with cherrywood-smoked Canadian bacon, melted cheese and a whole egg. Ayeshah Abuelhiga, founder and CEO at Mason Dixie Foods, explained that while waffles, biscuits and croissants are made with a handful of ingredients in home kitchens, labels on these products in the frozen aisle are a “sea of long ingredient panels, artificial ingredients, unnecessary oils and ultra-processed options like powdered eggs”. She commented: “The growth of Mason Dixie Foods over the past year is a strong testament to consumer and retailer excitement around clean comfort food”. Mason Dixie was established in 2014 and scaled up from a small pop-up restaurant to a multi-million dollar nationally distributed brand. Abuelhiga added: “Our new breakfast sandwiches pay homage to our DC restaurant roots, where we handmade everything and only used fresh ingredients.” The range is available now nationwide at all Whole Foods Markets with a suggested MSRP of $4.49.

A Conagra Brands subsidiary has entered into a definitive agreement to divest its 51.8% ownership stake in Agro Tech Foods. Agro Tech Foods is a Mumbai, India-based company that manufactures and sells a range of food products and edible oils, operating in the ready-to-cook snacks, ready-to-eat snacks, spreads and dips, breakfast cereals and chocolate confectionery markets. In 2011, Conagra became the majority owner of Agro Tech Foods when it increased its stake in the business through the purchase of existing shares from a third party. At the time, the purchase price of the additional shares was reported as around $110 million. In 2011, then-CEO of Conagra, Gary Rodkin, said: “Conagra has enjoyed a strong partnership with Agro Tech Foods, dating back to 1997...expanding our international business is a key part of our strategic plan, and India represents an attractive growth market for Conagra." The latest transaction is subject to customary closing conditions and is expected to be completed by the end of the calendar year 2024. Upon the close of this agreement, Conagra Brands will no longer consolidate the results of Agro Tech Foods in its financial statements. Terms of the deal were not disclosed. You may also be interested in these recent product launches from Conagra: Angie’s Boomchickapop and Cinnabon introduce cinnamon roll-flavoured popcorn Mrs. Butterworth’s and Dunkin’ release glazed doughnut-flavoured syrup Duncan Hines and Dolly Parton partner on new line of food items

Ingredients manufacturer Beneo has appointed Mike Eberle as the newest member of its executive board of directors, effective from 1 March 2024. Eberle is responsible for overseeing operations at the company. This includes production, technology, supply chain management, quality, raw material, health and safety, environmental protection and sustainability. His appointment comes at a “pivotal” time for the business, Beneo said in a press statement, with the company’s continued focus on developing its plant-based functional ingredients portfolio. Beneo is headquartered in Germany and active in over 80 countries. The company employs more than 1,000 staff and has six production sites in Belgium, Chile, Germany, Italy and the Netherlands. Prior to joining Beneo, Eberle was chief operations officer at Rotkäppchen, a sparkling wine producer based in Germany. He brings nearly three decades of experience within the international food and beverage industry, having started his career with positions at Unilever in Germany and the Netherlands. Following this, he held various leadership roles in food and beverage production, supply chain, logistics and operations. Commenting on his appointment, Eberle said: “My ambition is to grow Beneo’s operational excellence further and make sure we use our planet’s resources in a sustainable way. Both the experienced team and the production sites around the globe are well set to do so. Passion is a key driver to being successful and I am more than confident that we will succeed as a team.”

North American frozen seafood company High Liner Foods has committed to making a $5 million investment in Norcod. Norcod is a Trondheim, Norway-based aquaculture firm that produces sustainable and responsible cod. In exchange for the $5 million investment, High Liner Foods will receive a 10% share in Norcod. The all-cash investment forms part of a larger capital raise by Norcod that is expected to close this month. Norcod operates six farming sites with licenses secured to reach a 26,000 mt of production capacity. The company is geographically focused in central and northern Norway, with optimal biological conditions for aquaculture – this location means that Norcod can avoid seasonal dependency and deliver fresh products throughout the year. Paul Jewer, president and CEO at High Liner Foods, said: “Today's investment is a small but important step forward in our strategy to position High Liner Foods for the next chapter of leadership and growth. In a dynamic global seafood environment, we want to ensure that our company and its stakeholders can benefit from the opportunities across the full value chain in highly sought after species like cod." He continued: “We are impressed by Norcod's leadership team and their proven production record and expertise. In making this long-term investment, we welcome the opportunity to support, and help shape the bold, innovative work underway to lead the future of sustainable cod farming as a source of premium seafood for North America and markets around the world."

Keurig Dr Pepper (KDP) has announced that a subsidiary of JAB Holding Company will sell an aggregate of 86,956,522 KDP shares through a secondary offering. JAB also granted an option to the underwriter, Morgan Stanley, to purchase up to an additional 13,043,478 shares within the next 30 days. JAB is selling the block of shares for $29.10 to $29.25 each in a deal that could make the company up to $2.5 billion, according to Bloomberg. The media outlet said that this pricing represents a discount of 2.2% to 2.7% versus KDP’s closing price yesterday (29 February 2024), when shares of the beverage company closed at $29.91 each. CEO of JAB Joachim Creus said: "The proceeds from our sale of KDP shares allow us to maintain our leverage target in line with our financial policies, as we continue to build out our investment portfolio. KDP will continue to be one of our most important investments and we expect to continue to be a long-term anchor shareholder in KDP, at or above the 20% ownership level." Following the completion of the transaction, assuming full exercise of the underwriter's option to purchase additional shares, JAB will own around 21% of KDP's outstanding common stock, bringing KDP's public float to approximately 79%. KDP says that a number of its directors and officers have shown interest in purchasing the shares. Under the terms of the transaction, the remaining shares owned by JAB will be subject to a 180-day lock-up agreement with Morgan Stanley. A lock-up can limit the number of shares that can be sold over a designated period – in this case, 180 days. Lock-up periods typically apply to insiders such as a company's founders, owners, managers and employees, but may also include early investors such as venture capitalists. JAB will use the proceeds to finance its recent investments in pet insurance, according to a person familiar with the situation. The person also said that the KDP share sale is a one-off exercise, and JAB has no immediate plans to sell any further shares in KDP, or other public assets it holds.

Fairtrade chocolate maker Divine has unveiled its Easter 2024 collection, featuring a brand-new limited-edition hot cross bun-inspired bar and a range of ‘Flat Eggs’. Retaining the same shape and size as a classic Easter egg while using 40% less packaging, the Flat Egg range is available in two flavours: Smooth Dark Chocolate Raspberry, and Smooth Milk Chocolate Caramel & Crunch. The dark chocolate raspberry variant contains 70% dark chocolate topped with freeze-dried raspberry pieces, while the caramel and crunch flavour features creamy milk chocolate with a crunchy caramel topping. Each egg is made with Divine’s 100% Fairtrade chocolate. Also new for Easter 2024, the Joyful Hot Cross Bun Bar features milk chocolate studded with raisins and spiced biscuit pieces, designed to combine the classic flavours of Easter in a chocolate bar format. Sophie Loveday-Davies, group marketing director at Divine, commented: “Sustainability is at the heart of what we do, so we’re proud to be launching our range of Flat Eggs, which are both more environmentally friendly than a boxed Easter egg, as well as being the perfect solution to letterbox gifting”. She added: “Meanwhile, our limited-edition Hot Cross Bun Bar taps into consumer demand for nostalgic sweet treats, combining the classic flavours of Easter in one delicious bite, which is a true joy to devour”. The range is available now through selected UK retailers, including Waterstones, Oxfam and Amazon.

Unilever has joined forces with UK farms that cultivate mustard seeds and mint leaves for its Colman’s products, to introduce its first regenerative agriculture initiative in the country. This is the latest regenerative agriculture project from Unilever, building on its roadmap to invest in such practices on 1.5 million hectares of land and forests by 2030. The project will begin by testing the implementation of regenerative agriculture practices on mustard and mint farms around Norwich and Peterborough over four years. This includes mustard farms that have been supplying Colman’s products for more than two centuries. The first crop of the programme is scheduled to take place next month. The initiative brings together Unilever and two farming cooperatives – the English Mustard Growers and Norfolk Mint Growers – alongside technical and academic partners, such as Farmacy and the National Institute of Agricultural Botany (NIAB). It aims to tackle the challenges faced by these crops and landscapes by trialling new regenerative agriculture practices on these farms. These practices include using low-carbon fertilisers, crop nutrition strategies, planting of cover and companion crops to reduce pesticide use, new digital water irrigation scheduling systems and reduced cultivation. Unilever collaborated with the farms to collect and establish baseline data and create a framework that measures the impact of these new practices. This also includes collating information on soil health, fertiliser use, biodiversity, water efficiency and carbon reduction. Additionally, Unilever is supporting the development of new technologies to enhance on-farm data collection that will be able to measure carbon levels in soil in situ. “As with all farmers, we are facing the challenges of climate change directly on our land," explained mustard farmer Michael Sly. "Alongside our English Mustard Growers Group, we’re on the journey with Unilever and NIAB to integrate regenerative agriculture practices that include strong measurement processes, to improve our yield, improve the soil health, and maintain the flavour of a fantastic product alongside that.” Mint farmer David Bond added: “To increase our resilience and continue to produce high quality products, we need to work with our climate, which means adapting our practices. This new project with Unilever will enable us to implement regenerative agriculture practices on a wider scale, together with more measurement and analysis from our partnership with NIAB, so we can continue to learn and improve for the future.”

Global snacking company Pladis has expanded its Jacob's portfolio with a new limited-edition range of Mini Cheddars, named Cheesy Specials. The brand has unveiled two new flavours, the first, a new Smoked Cheddar variety and the second, a new Cheddar and Roasted Tomato flavour. Designed to attract younger shoppers, the latest additions build on the success of the brand’s previous flavour innovations, such as its street food-inspired snacks. Asli Akman, marketing director at Pladis UK&I, said: “We know from both our own research and the impressive, continued growth for Jacob’s Mini Cheddars, that cheddar-based flavours are some of the most popular among savoury snacking shoppers. The good news is, cheese is kind of our thing.” "We’ve also made these latest launches available in two distinct formats to drive penetration within a whole host of occasions, with a classic multipack of six and a single-serve.” Both flavours are available to purchase now in Tesco stores, with wider rollout from April.

Cell-based seafood company BlueNalu has become a member of the National Fisheries Institute (NFI), the US’s leading trade association representing the nation’s seafood industry. The announcement follows BlueNalu's recent participation at NFI’s annual Global Seafood Market Conference, where the company, alongside its industry partners Nutreco and Pulmuone, discussed how its approach to seafood production will work with the industry to contribute to the shared goal of feeding future generations with healthy and nutritious seafood. BlueNalu, which will also serve as a founding member of NFI’s inaugural Sushi Council, has developed a technology platform that enables the company to produce premium cell-cultured seafood products from a wide array of species including high-value and whole-muscle products, like bluefin tuna toro. Lou Cooperhouse, founder, president and CEO of BlueNalu, said: "Joining the National Fisheries Institute is a significant step for BlueNalu. We believe that collaboration across the seafood industry is crucial to meeting the growing demand for high-quality, sustainable seafood...BlueNalu is dedicated to working alongside our industry partners to ensure that our innovative approach contributes positively to the sustainable growth of the seafood sector." Lisa Wallenda Picard, president and CEO of NFI, commented: "The National Fisheries Institute is thrilled to welcome BlueNalu as its newest member. Its innovative cell-cultured seafood is a game-changer that aligns with our mission to have Americans eat more seafood by expanding the market with additional options.” She continued: “Traditional seafood sources are healthy, delicious and good management makes them sustainable, but volumetrically there are limits when feeding a growing planet. BlueNalu's innovation is a vital addition to our efforts to increase seafood consumption. We look forward to BlueNalu's impact in diversifying and securing our seafood supply, making a significant contribution to our goal of a broader, healthier seafood diet for Americans." As BlueNalu continues to advance its cell-cultured seafood technology, the company expects to to actively engage with the NFI and its members to foster collaboration, share knowledge and drive positive change within the seafood industry. More from BlueNalu: Agronomics announces BlueNalu Series B, extends strategic partnerships BlueNalu teams up with Mitsubishi and Thai Union to bring cell-cultured seafood to Asia BlueNalu partners with Pulmuone to gain access to Asian markets

Early-stage innovators from around the world are in the spotlight across the summit. See them in action during live cook-offs and topical panel discussions on the main stage, with pitches and booths in the Start-Up Arena, unlocking more innovator action than ever before. A whole floor dedicated to the hottest innovations, the Start-Up Arena is back for 2024 – and this time, it’s bigger than ever. Complete with its own stage and a packed two-day programme, stop by for themed pitching sessions, innovator cohorts, panels on everything from building strategic partnerships to IPO guidelines, and to meet the brains behind the operations at their booths. Here’s who you will meet: Scale-ups: Algama Foods creates plant-based food products made from microalgae. Fermbox Bio is a synthetic biology research and manufacturing company developing and delivering sustainable Synbio products with improved scalability and speed. Fermelanta makes beneficial plant-based chemicals through microbial fermentation by synthetic biology. H2Ok Innovations is an AI IoT platform pioneering precision automation, optimising industrial fluid and liquid systems, including water, for sustainable and efficient operations in manufacturing and supply chains. Pow.bio is building a next-generation biomanufacturing platform – unlocking price parity for the $500 billion biomanufacturing market.Start-ups: Alora’s solution is ocean agriculture, growing rice in oceans. Astreas creates next-generation, performance-enhancing products with great taste and nutrition. Cano-ela produces innovative clean-label ingredients from canola seeds, 0 waste, with a great nutritional profile. Circe is building a manufacturing platform that makes tailored ingredients from carbon dioxide, water and electricity. Cryptobiotix provides fast-track gut health product development with clinically validated, high-throughput preclinical technology and clear data translation for faster decision-making. Digestiva’stechnology platform, powered by AI, delivers acid-activated enzymes that amplify the power of protein for better nutrition, wellness and the planet. Eatch has developed an automated kitchen that cooks in the same way as you do at home, providing fresh meals and technology to food service and food retail channels. Econutri recycles CO2 for sustainable protein production. EQUII uses proprietary fermentation technology to enhance the nutritional content of everyday foods with high-quality protein. Ergo Bioscience is a biotech-based start-up focused on the production of complex animal proteins by plant cell precision fermentation. EV Biotech designs and optimises precision fermentation strains and processes, tailored for your success. Filtricine is a clinical-stage biotechnology company that develops food to treat cancer and metabolic diseases. Ingrediome creates seafood and meat made from nature-identical animal proteins using photosynthetic precision fermentation. Koralo harnesses co-fermentation of microalgae and mycelium to create New F!sh for thriving people & oceans. Meatologic is a next-generation, scalable, cell-agriculture production platform. Morus creates sustainable, nutritious and tasty (almost like Matcha!) silkworm-based food options. Numi recreates the magic of mammary glands in vitro, offering parents a natural choice when breastfeeding isn’t an option. Oceanium uses sustainably farmed seaweed to produce innovative and functional ingredients for food, wellness, cosmetics and materials. Perfat Technologies combines state-of-the-art material physics and food science to make healthy, plant-based fats for the food industry. ProFillet creates delicious, nutritious and scalable plant-based seafood. Reel Foods creates delicious, flaky, cultivated fish fillets. Sallea’s platform technology enables the manufacturing of edible scaffolds, providing the basis for cultivation of whole cuts and other highly structured types of meat and fish. Terra Bioindustries decarbonises supply chains with upcycled sugar and protein ingredients, enabling companies to use carbon-preventing inputs at competitive prices. Wonder Veggies is developing a platform technology and family of formulations for naturally growing vegetables enriched with healthy probiotics. Yali Bio creates climate-friendly fats that perform like animal fats but without the downsides. Inulox is pioneering a science-based ingredient to reduce sugar in foods without compromising on taste or texture.Innovator cohorts Meet leading accelerators and incubators from around the world on booths in the Start-Up Arena, as they introduce their start-up cohorts with fresh solutions and case studies: Eatable Adventures’ mission is building tomorrow’s food system by partnering with start-ups, corporations, governments and Investors. Meet its cohort in San Francisco: Cocuus develops industrial solutions for the production of mimetic food analogues (mimetic food) of plant or cell-based animal protein using 2D/3D laser printing, bioprinting and robotics. Maolac uses advanced AI and protein intelligence to introduce indication-specific functional proteins with a perfect fit for humans. Mmmico creates natural ingredients using microorganisms as small biofactories, combined with directed evolution and its natural intelligence tool: Biometheus. Fresh Start, a food-tech incubator investing in early-stage Israeli food-tech companies, introduces its cohort to San Francisco: Bountica develops food-safe and nature-based proteins that prevent the decay and spoilage of perishable foods and beverages, reducing food loss by extending their storage and shelf life. Eggmented Reality uses its bioinformatics and precision-fermentation technology platform to identify and produce improved protein functionality over industry alternatives. Medium Well’smedium recycling and optimisation system is set to transform cultivated meat production. Pigmentum has developed a molecular technology platform that enables external gene activation in plants that could be induced at a specific chosen timing in response to an external signal. Sea2Cell is developing ground-breaking GF technology and proprietary cell lines for the commercial-scale manufacturing of its cultivated fish products. Future Food Aotearoa is a founders movement, formed to accelerate the growth and impact of future food and climate technologies from Aotearoa, New Zealand. Meet its cohort: AndFoods’ solution is a novel fermentation process using a pulse crop new to dairy alternatives. Arepa has developed a range of 100% natural, clinically proven products that benefit the brain both in the short and the long term. Daisy Lab is a precision fermentation company rethinking dairy production by using microbes to produce dairy-identical proteins. Miruku is applying its molecular farming process to programme climate-resilient crops to be mini-factories for producing proteins and other molecules traditionally made by animals. NewFish is a pioneering New Zealand-USA natural nutrition from water technology company. Opo Bio partners with the cultivated meat industry, providing cells that enable large-scale cell culture. Mista is a global innovation platform and ecosystem designed to accelerate the transformation of the global food system. Joining Mista at the summit are: Circe is building a manufacturing platform that makes tailored ingredients from carbon dioxide, water and electricity. Checkerspot is a biotechnology company designing materials and ingredients at a molecular level to enable more sustainable and high-performing products. ImpacFat develops omega-3 rich cell-based fish fat as a novel ingredient to supplement plant-based products and improve the taste, texture, aroma and nutrition. Perfat Technologies combines state-of-the-art material physics and food science to make healthy, plant-based fats for the food industry. Natural Products Canada helps Canadian early-stage companies and researchers bring their sustainable solutions to life. Accompanying NPC to the summit are: Crush Dynamics is focused on the transformation of grape derivatives and other agricultural side streams using patent-pending targeted fermentation into high-performance food ingredients. Enhanced Medical Nutrition develops medical food products to help patients prepare better and recover faster. Grazy transforms oats into plant-based frozen desserts. Infusd Nutrition’s proprietary technology allows fat-soluble micronutrients like omega-3 and vitamin D to become valuable water-soluble ingredients with many applications. Knead Technologies’ platform works to reduce food waste and increase food redirection. New School Foods creates whole-cut seafood, made from plants. Nulife GreenTech solves the issue of high moisture, industrial waste disposal, while reducing the carbon footprint of food processors and creating renewable bio-oil for carbon removal. Renaissance BioScience evokes the full power of biology to design and build biofactories that produce the things we need in cleaner, smarter and more sustainable ways. Seawise Packaging helps you meet your environmental objectives, product freshness requirements, and profitability targets. Plug and Play connects entrepreneurs, corporations and investors worldwide on its global innovation platform. Meet the following start-ups from its cohort: Basetwo AI provides AI-generated recommendations on the next best action for your critical equipment and processes. Compound Foods creates coffee without coffee beans, using fermentation. Simple Planet utilises cellular agriculture technology to produce cell-based food.