Bread & Butter
Two major news for FSV portfolio this month:
KoRo raised €20.8m in its Series B extension, a great milestone for one of the fastest growing business in Europe 🥜
Butternut Box expands its European presence by acquiring PsiBufet, Poland’s number one provider of fresh dog food, a big milestone to keep providing health and happiness to European dogs 🇪🇺🐶
In other news…
mammaly celebrated its 3rd birthday! 🎂
Vly launched its new product - VOLL - closer to cow milk, high in calcium but low in sugar.
Did you know ?
1/3 of consumers pay more for sustainable products (an average premium of ~25%)
The European Union plans to have an environmental label on food products.
1/3 of employees resigned because their companies’ value didn’t align with their own.
Big food retailers in Europe threaten to remove products that won't reduce emissions.
For all these reasons we held our second workshop, hosted by Gaetan Kerloc’h, on Carbon Accounting, with the goal of helping our portfolio companies track and reduce carbon emissions. 🌱
Read also Gaetan’s interview from ESG Connect by Greenly on how FoodTech and VC can address both health and climate issues.
Lucie Paté will attend Food4Future Summit in Bilbao on May 17th-18th.
Ivan Farneti will moderate a panel on consumer preferences at F&A Next on May 24th in Wageningen.
Gaetan Kerloc’h will be part of the Pitch Jury Selection at ChangeNOW on May 26th.
Giancarlo Addario will be attending the Food Tech Congress 2023 in Warsaw on May 31 - June 1.
DigitalFoodLabs released its European FoodTech TOP50 2023, including KoRo, AirUp & This.
Two of McKinsey reports and interviews:
State of grocery Europe 2023: Living with and responding to uncertainty, predicting a gradual normalisation of price and volume among 8 other trends in retail.
The interview of Yvon Chouinard (Patagonia’s CEO) on how companies can be responsible for the planet and its people while increasing growth and value.
FoodHack wrap-up of 30 leading Food and Climate investors views on future trends, sustainable packaging & regenerative agriculture at stake.
Our food system making people behave like alcoholics according to The Telegraph, ‘best to partake gingerly, for fear of one day having to renounce it altogether’.
The EU Parliament adopts a ban on imports driving deforestation, a step towards a more sustainable food system.
What is the banana index ? The Economist introduces a different way to measure the climate impact of food.
Looking for opportunities in our stellar portfolio? ⬇️
La Fourche - her1 - yfood Labs - air up - the nu company - mammaly - Just Legends -vly - THIS™ - Butternut Box - Tropic Biosciences - Cortilia - Barkyn - yamo - Koro