With cereal sales taking a dive over the last three years, according to Nielsen, and younger consumers, in particular, gravitating toward healthy, organic snacks or fresh fruits and vegetables, CPG giants are looking for ways to innovate and enter new product categories.
Back to the Roots, an Oakland, California startup pioneering how families reconnect with food, announced today that it has expanded its January crowdfunding campaign on CircleUp into a $10M Series A. The new investment was led by Acre Venture Partners, Campbell Soup’s venture capital fund for food startups, and also includes funding from S2G Ventures and Red Sea Ventures.
The rate of investment in food-tech startups has slowed a bit over the last year, but a new generation of health-conscious, choosier consumers and a more polished batch of entrepreneurs are keeping the venture capital spigot open, according to investors at an industry conference Wednesday.
Seed 2 Growth Ventures (S2G), a Chicago-based VC that has quickly become the leader in sustainable food and agriculture investments, has led an investment in Vancouver-based Terramera, Inc. Both companies are aligned in their focus to support sustainable agriculture while increasing farm yields.
The social media reaction was both swift and expected last year when news broke that Oreo-maker Mondelez International acquired Enjoy Life Foods, the Chicago-based manufacturer of health-conscious foods free of common allergens.