BlueNalu Signs MOU with Pulmuone, Announces Partnership Bringing Cell-Based Seafood to South Korea - BlueNalu, Inc.

#foodtech #cellularagriculture #cellular #startups #aquaculture

BlueNalu, a leading food technology company developing cell-based seafood products, announced today the signing of a Memorandum of Understanding (MOU) with Pulmuone Co. Ltd., a leader in healthy lifestyle and environmentally-friendly food products headquartered in South Korea. Pulmuone also participated in BlueNalu’s A round of financing, which was announced earlier this year.

Global demand for seafood is at an all-time high and continues to increase, particularly in Asia, where the two companies believe cell-based seafood can supplement the current supply of wild-caught and farm-raised fish. BlueNalu’s cellular aquaculture technology will allow it to produce a wide array of seafood products from a variety of species, without genetic modification, and will be free of microplastics, toxins, mercury and other environmental contaminants. The global pandemic has brought awareness to the vulnerability of our food supply. Cell-based seafood is a solution to food security and addresses the important issues of traceability, transparency and safety.

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BlueNalu Signs MOU with Pulmuone, Announces Partnership Bringing Cell-Based Seafood to South Korea - BlueNalu, Inc.

BlueNalu, a leading food technology company developing cell-based seafood products, announced today the signing of a Memorandum of Understanding (MOU) with Pulmuone Co. Ltd., a leader in healthy lifestyle and environmentally-friendly food products headquartered in South Korea. Pulmuone also particip

The Indian nutraceutical startup Power Gummies says a gummy bear a day can keep health issues at bay

#neutraceuticals #gummybears #foodtech #nutrition #dietsupplements #nutricosmetics

The Indian dietary supplement market is expected to grow at a CAGR of 20 percent between 2015 and 2023, according to a study by ResearchandMarkets. The report also says minerals and vitamins comprise over 40 percent of the market, the herbal segment takes around 30 percent, proteins account for 25 percent, and others make up the remaining five percent.

According to a Mintel report, nutricosmetics could be the “heart of market growth” in India's vitamins, minerals, and supplements market. An October 2019 Euromonitor report said “gummies and jellies offer opportunities for expanding the consumer base and establishing a greater connection with consumers in India”.

Launched in Delhi, under-based Aesthetics Nutrition, the nutraceutical startup Power Gummies, founded by Divij Bajaj in 2018, uses best-in-class ingredients and a vegan base to create over-the-counter, fast-acting gummies, containing a range of vitamin and mineral supplements.

The products are plant-based, and do not contain gelatin or other animal-derived elements. The base is made up of Pectin, which is 100 percent vegetarian, and gelatin, gluten, and cruelty-free. The gummies have a shelf life of 18 months.

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This nutraceutical startup says a gummy bear a day can keep health issues at bay

Sweet, gelatinous, and rainbow-hued, gummy bears are one of the world's most loved candies. In 2018, Divij Bajaj decided to use these sweet treats to retail a range of vitamin and mineral supplements: Power Gummies. Launched in Delhi, under-based Aesthetics Nutrition, the nutraceutical startup uses best-in-class ingredients and a vegan base to create over-the-counter, fast-acting gummies.

Startup Funding Alert: Food startup Samosa Party raises Pre-Series A round from Inflection Point Ventures

#fundingalert #startupfunding #cloudkitchen #darkkitchen #startupindia #postcovidworld #foodtech #samosa

Inflection Point Ventures has invested an undisclosed amount of funding in snacking startup Samosa Party, which the company says it will utilise to scale, and open cloud kitchens across Bengaluru and other Tier-I cities.

Founded by Amit Nanwani in 2017, Samosa Party’s USP is freshly fried samosa in 14 different varieties. The brand claims to have become the go-to snack solution in Bengaluru for personal consumption, and groups and gatherings alike, with more than 80 percent repeat customers.

The startup said that it has scaled to serving 1.5 lakh samosas per month.

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[Funding alert] Food startup Samosa Party raises Pre-Series A round from Inflection Point Ventures

Inflection Point Ventures has invested an undisclosed amount of funding in snacking startup Samosa Party, which the company says it will utilise to scale, and open cloud kitchens across Bengaluru and other Tier-I cities. Samosa Party said it will also use funds to improve its production technology.

Funding Alert - Grocery delivery startup Milkbasket raises $5.5 mn led by Inflection Point Ventures

#startupfunding #fundingalert #foodtech #startups #startupindia #ecommerce

Source: YourStory Media

Author: Sujata R Sangwan

Bengaluru-based grocery delivery startup Milkbasket has raised a fresh funding of $5.5 million led by Inflection Point Ventures with participation from existing investors.

With advanced and deep technology across the full-stack supply chain from sourcing to last-mile delivery, Milkbasket claims that it today serves over 130,000 households and fulfills an entire household needs with 9,000+ products across fruits and vegetables, dairy, bakery, and all other FMCG categories. Founded in 2015 by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, it is currently operating in Gurgaon, Noida, Dwarka, Ghaziabad, Hyderabad, and Bengaluru.

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[Funding alert] Grocery delivery startup Milkbasket raises $5.5M led by Inflection Point Ventures

Bengaluru-based grocery delivery startup Milkbasket has raised a fresh funding of $5.5 million led by Inflection Point Ventures with participation from existing investors. Inflection Point Ventures (IPV) claims to have emerged as the only angel platform in India to lead a Series B round in a startup.

Startup Stories - These women entrepreneurs aim to transform the fresh food supply chain in India and tap into a market worth $2 Bn

An evolving technology, by QZense founders Rubal Chib and Dr Shristi Batra, aims to minimise and hopefully, eliminate this loss with its IoT solution that quickly and accurately grades fresh food. The technology employs a unique combination of near-infrared spectral sensors and olfactory sensors for analysis of internal spoilage, ripeness, sweetness, and shelf life. 

“The plan is to deploy the technology to the entire supply. However, currently, our immediate target is Indian fresh retailers. This includes the retail chains, e-retailers, and e-tailers since it is convenient and very optimal for them to deploy this technology. We are deploying our technology to the retailer’s warehouses, collection houses, and stores. Our solution will help the retailers and aggregators minimise inventory losses, and capture optimal margins by delivering the finest quality produce to the consumers,” Rubal tells HerStory.

QZense has filed its first patent and is beginning a pilot with Waycool for apples. Having shown the features of spoilage and Brix (sweetness), it also wants to deploy the device at the vendor end. Additionally, it is in conversation with Zomato Hyperpure and Mahindra Agri. It has received an investment from HAX, in addition to Entrepreneur First.

India is the second-largest producer of fruits (81.285 million tonnes) and vegetables (162.19 million tonnes) in the world, and the third-largest fresh retail market with over $500 billion in sales. On the other hand, 40 percent of the food produced in India is either lost or wasted. In 2019, India lost $14 billion in post-harvest food loss.

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These women entrepreneurs aim to transform the fresh food supply chain in India and tap into a market worth $2B

India is the second-largest producer of fruits (81.285 million tonnes) and vegetables (162.19 million tonnes) in the world, and the third-largest fresh retail market with over $500 billion in sales. On the other hand, 40 percent of the food produced in India is either lost or wasted.

The US International Development Finance Corporation (DFC) to invest $350 mn in India to support fintech, healthtech, energytech and foodtech ventures

The U.S. International Development Finance Corporation (DFC) is looking to invest $350 million in India to support multiple projects in the country’s financial services sector, health infrastructure, renewable energy and food security space.

The investments, mostly in the form of debt, made so far are as follows:

1. ReNew Power - $142 mn

2. Sitara Solar Energy - $50 mn

3. Northern Arc Capital - $50 mn

4. FreshToHome Foods Private Ltd - $20 mn (commitment)

5. South Asia Growth Fund II - $30 mn

6. Paryapat Solar Energy - $27.3 mn

7. Avanse Financial Services Ltd. - $14.6 mn

8. WayCool Foods & Products Pvt Ltd - $5.5 mn (Guarantee)

9. Milk Mantra Dairy Pvt Ltd - $10 mn

Read previous news on funding by U.S. International Development Finance Corporation on

America's DFC to invest $350 million in India

Kolkata: The US International Development Finance Corporation ( DFC) is looking to invest $350 million in India to support multiple projects in the country's financial services sector, health infrastructure, renewable energy and food security space.

Funding Alert: Dairy foods startup Milk Mantra raises $10M in debt from US International DFC

Source: YourStory Media

Author: Sujata R Sangwan

U.S. International Development Finance Corporation Corporation (DFC) has committed a $10 million loan to Milk Mantra Dairy Pvt Ltd, an Odisha-based new-age dairy food startup in India.

Milk Mantra Dairy Pvt Ltd was set up in 2009 by Srikumar Misra to solve the problem of trust deficit between consumers and food in the large $50 billion dairy industry in India. Over the last eight years, the startup said it has sustainably impacted over 60,000 farmer families, helping them increase productivity by 31 percent, and incomes by 70 percent.

The company’s revenues have scaled from $2 million in 2013 to $32 million in 2020, and it is reaching more than 300,000 households every day. Milk Mantra Dairy Pvt Ltd also has other marquee equity investors like Eight Roads (Fidelity), Aavishkaar Capital, and Neev Fund.

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[Funding alert] Dairy foods startup Milk Mantra raises $10M in debt from US International DFC

US International Development Finance Corporation (DFC) has committed a $10 million loan to Milk Mantra, an Odisha-based new-age dairy food startup in India. Ajay Rao, Director of DFC's Social Enterprise Finance Team, who led this transaction, said, "We have been very impressed by the Milk Mantra team and its efforts to build a socially responsible business that empowers smallholder farmers while strengthening food security."

Dubai-based startup MyMenu offers contactless ordering solutions for restaurants

Founded by Abhishek Bose, My Menu is a digital menu platform that offers a contactless self-ordering system and table service for customers to communicate with restaurant staff.

My Menu was globally launched in March 2019 and is now present in 1,000-plus restaurants across the US, the UAE, Saudi Arabia, Oman, India, Spain, Portugal, and Brazil. It is a self-managed solution available in over 142 languages, which makes it the ideal solution for a global rollout for bigger brands.

“We are an all-in-one solution – Tablet Menu, QR Menu, QR Ordering, and Online Ordering. All this on one platform that can take care of all your menu needs. Our platform has only one objective – to increase the average check value by up-selling, increase guests satisfaction and efficiency, and decrease costs,” Abhishek Bose, Founder and CEO at My Menu, tells YourStory.

The company has a monthly subscription fee starting at $31/$39 monthly if paid annually or monthly. The startup has been self-funded till now by the founders along with the CFO of the company, Prateek Dayal. The team adds that the company has always maintained an operational profit, which has helped fuel its growth.

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This Dubai-based startup offers contactless ordering solutions for restaurants amid coronavirus

Social distancing is the new normal due to the coronavirus outbreak. People and companies are coming up with strategies and techniques to ensure that a safe distance is maintained even on a regular day of business. Startups are coming up with solutions that reduce the need for physical contact.