California-based Kite Hill Foods, which makes nut milk and cheese products, has wrapped up a $15 million funding round on the heels of a separate funding round last fall, bringing its total funding so far to about $80 million, according to Crunchbase. The nine-year-old firm was cofounded by Patrick Brown, creator of Impossible Foods.
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Startups have increasingly secured venture capital rounds of $100 million or more, which sharply rose in 2014 and 2015, Crunchbase data show. Although these supergiant rounds are often associated with later-stage companies, the analysis shows the funding has occurred at all stages.
Pasadena, Calif.-based Kitchen X recently closed a $40 million Series B investment round led by RXR Realty, according to Crunchbase. The three-year-old startup offers commercial kitchen rental space to help foodservice providers expand into delivery and raised $10 million in a Series A round last year.
Startup FoodFul has been granted $50,000 from the National Science Foundation's Innovation Corps program to move forward with DairyX, its cloud-based dairy cow tracking system. In addition, FoodFul has been backed by the New York City-based Entrepreneurs Roundtable Accelerator and will work at its facility through October.
Impossible Foods will begin selling its "bleeding" plant-based Impossible Burgers at US grocery stores in 2019. The burgers were launched in restaurants, but home chefs have been increasingly requesting the opportunity to buy the products in retail, said CEO Patrick Brown.
Investors have pumped $108 million in new funding into Impossible Foods, a startup that is developing plant-based alternatives to meats and cheeses. The company, which was founded by former Stanford biochemistry professor Patrick Brown, is among the startups working on meatless substitutes for common foods.