Food-tech’s methane moment is overshadowing its measurement problem—and capital is flowing to the wrong link in the chain.
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Instant-commerce platform delivering convenience goods, groceries, and prepared food from its own network of microfulfillment centers and ghost kitchens.
Produces animal-free egg proteins, including egg-white ovalbumin, via precision fermentation and sells them as B2B ingredients.
Mosa Meat is a Dutch cultivated-beef company founded by the team behind the world's first lab-grown burger, working to bring cell-cultured beef to market in Europe.
Marc Lore's multi-restaurant food-hall and delivery company that owns Grubhub and Blue Apron and aims to be a 'super app' for mealtime.
Travis Kalanick-controlled ghost-kitchen real-estate and software company that leases delivery-only commercial kitchens to restaurants.
Discount online grocer that rescues 'ugly' and surplus produce and groceries, delivering them direct-to-consumer below supermarket prices.
Impossible Foods makes plant-based beef, chicken, sausage and other meat analogues built around its soy-leghemoglobin 'heme' ingredient, sold across U.S. retail and foodservice.
NotCo is a Chilean food-tech company that uses an AI platform called Giuseppe to formulate plant-based milk, burgers, mayo and other products, and licenses the same AI to large food makers including via a Kraft Heinz joint venture.
Redefine Meat is an Israeli company that uses industrial 3D printing to produce whole-cut plant-based steaks, lamb and other 'New-Meat' products aimed at European fine-dining and foodservice.
Eat Just makes JUST Egg, a mung-bean-based liquid egg substitute that leads the U.S. plant-based egg category, and runs GOOD Meat, a cultivated-meat division that was first to market with cell-based chicken.
Aleph Farms is an Israeli cultivated-meat company growing whole-cut beef steaks from cow cells, and was the first to win regulatory approval for cultivated beef.
Brightseed is a San Francisco bioactives company whose Forager AI platform maps plant, fungi and microbe compounds to discover and commercialize gut-health fiber and other functional ingredients.
Upside Foods grows cultivated chicken from animal cells and was among the first companies cleared by US regulators to sell cell-cultured meat.
Voyage Foods is an Oakland, California company that recreates chocolate, coffee and nut spreads without cocoa, coffee beans or nuts, using upcycled and widely available ingredients to sidestep volatile commodity supply chains.
Nature's Fynd makes Fy, a complete fungal protein grown by fermentation from a Yellowstone-derived microbe, which it turns into dairy-free yogurt, meatless patties and protein products.
BlueNalu is a San Diego company developing cell-cultivated bluefin tuna toro for the US sushi market, advancing through late-stage FDA consultation.
Makes human-identical bioactive proteins, starting with lactoferrin, via precision fermentation for nutrition and early-life applications.
Finnish food-biotech making bioidentical egg-white protein (Bioalbumen) by fermenting Trichoderma reesei, without chickens.
AI-powered robotic arms that assemble high-mix prepared meals inside food-production facilities, sold as robotics-as-a-service.
Mission Barns makes cultivated pork fat as an ingredient for hybrid meat products and in 2025 became the first company cleared by the USDA for cultivated fat.
Vow is a Sydney cultivated-meat company selling cultured Japanese-quail products under its Forged brand, approved for sale in Australia and New Zealand.
MycoTechnology is an Aurora, Colorado ingredient company that uses mushroom-mycelium fermentation to make natural flavor modifiers (bitter-blocking, salt and sugar reduction), sweeteners and clean-label ingredients.
Australian deep-tech firm making animal-like fats (Tastilux, Creamilux) via precision fermentation for alternative meat and dairy.
Makes animal-free casein via precision fermentation to produce dairy-identical mozzarella without cows.
Tender Food is a Somerville, Massachusetts startup using a fiber-spinning process to turn plant proteins into whole-muscle cuts such as plant chicken, pulled pork and steak.
Wildtype is a San Francisco company making cultivated coho salmon and was the first to receive FDA clearance for a cultivated seafood product.
California Cultured is a West Sacramento company growing cocoa, and exploring coffee, from plant cell cultures in bioreactors to make chocolate without cacao farming.
Juicy Marbles is a Slovenian startup making soy-based whole-cut plant 'filet mignon,' ribs and other steaks sold direct-to-consumer and through European and U.S. retail.
Atomo Coffee is a Seattle company that makes 'beanless' coffee by molecularly recreating coffee's flavor from upcycled plant materials such as date seeds, chicory and grape skin.
Berlin food-biotech making animal-free cheese using koji protein and precision-fermented milk proteins for European retail.
Builder of an automated under-the-counter makeline that assembles bowls and salads from digital orders while staff work the top line.
AI-powered robotic chef that autonomously cooks multi-cuisine recipes, plus a line of automated fryer, sandwich, pizza, and dishwashing robots.
Oobli is a Davis, California company that uses precision fermentation to produce sweet proteins such as brazzein and monellin, used to cut sugar in foods and beverages without blood-sugar spikes.
Planted is a Swiss food-tech company that uses extrusion and a 'biostructuring' fermentation process to make whole-cut plant-based chicken, steak and other meat alternatives for European retail and foodservice.
Shiru is an Alameda, California protein-discovery company whose Flourish AI platform searches millions of natural proteins to design functional ingredients such as the OleoPro alternative-fat and its uPro protein.
Dutch B2B ingredient firm making animal-free whey and dairy proteins via precision fermentation; a dsm-firmenich and Fonterra venture.
Maker of Flippy, an autonomous fry-station and kitchen robot for quick-service restaurants such as White Castle and Jack in the Box.
Makes animal-free dairy whey protein (ProFerm) via precision fermentation and licenses it to consumer-goods makers.
App marketplace that lets stores and restaurants sell unsold surplus food at a discount through 'surprise bags' to cut waste.
Beyond Meat is a publicly traded maker of plant-based burgers, sausage and chicken that recently rebranded as 'Beyond The Plant Protein Company' and is restructuring amid steep revenue declines and going-concern pressure.
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Meati Foods, a Boulder mycelium-meat maker that had raised more than $450 million, collapsed as an independent operating company in 2025. In late February 2025 it breached a revenue-and-gross-profit covenant on its debt, and lender Trinity Capital swept roughly two-thirds of its available cash while the company was mid-way through an internal funding round meant to extend runway into 2026. The cash sweep forced WARN-notice layoffs across its workforce and pushed the company into an Assignment for the Benefit of Creditors process. Its business assets were sold for about $4 million, disclosed in May 2025 court filings; a new owner, Meati Holdings, subsequently took over and continued operating the brand, but the original venture-backed entity was effectively wound down.
Believer Meats, the Israeli-founded cultivated-meat company formerly known as Future Meat Technologies, abruptly ceased operations in December 2025 after raising more than $387 million since its 2018 founding. The shutdown came despite major milestones earlier that year: a 'No Questions' safety letter from the US FDA and completion of a large Wilson, North Carolina production facility, billed as one of the world's biggest cultivated-meat plants, that the USDA had cleared for operation. At a November town hall, employees were told the company was seeking eleventh-hour funding; when that capital did not materialize, mass layoffs followed around December 1. The collapse left the finished mega-factory idle and triggered a reported $34 million lawsuit from contractor Gray Construction over unpaid construction bills.
SE Ventures' Amit Chaturvedy discusses AI-driven opportunities in industrial infrastructure, energy, and robotics.
Mega-rounds ($200M+) dominated 2024–2026, with Wonder ($600M), Gopuff ($250M), and prior cycles yielding $500M+ Series H/D closes. Median round size has compressed for seed and Series A (typically $5–50M), while late-stage outliers pull capital pool upward. Growth capital concentrates in five-to-ten unicorn narrative bets.
Late-stage capital (Series D+, Growth rounds) captures 55–60% of deployed dollars across the past five years, driven by Impossible Foods, Perfect Day, Believer Meats, and Gopuff unicorn chase. Early-stage (Seed through Series B) has thinned since 2021 peak. Series A remains active but median checks shrink as tier-one VCs reserve capacity for mega-follow-ons.
Temasek, L Catterton, SoftBank Vision Fund 2, and EQT Ventures led most prolific rounds across multiple stages. McWin, Hanaco, and Khosla Ventures anchored category-defining bets. Newer entrants (Eldridge, Valor, Ingredion Ventures) signal strategic investor appetite. Traditional food giants (ADM, Kraft Heinz) rare as lead; mostly co-invest at Seed level.
The Supplant Company — legal entity Cambridge Glycoscience Ltd (UK company 10620297) — collapsed into administration in 2025. Despite raising more than £25 million since 2017, its 'sugars from fiber' sweetener never scaled: peak revenue was only around $1 million against roughly £21.4 million of net liabilities, plus about $2 million owed to trade creditors and a $3.6 million venture-debt loan from Western Technology Investment. The company was put up for sale in August 2025 seeking a rescue buyer for offers over £2.5 million, and administrators Grace Jones and Rishi Karia of Parker Andrews were appointed on 8 September 2025 (The Gazette notice 4960196). In October 2025 the entity was renamed to '100314 LIMITED' — the standard step freeing the trading name for sale — and no confirmed going-concern buyer emerged. Founder Tom Simmons moved on to German sugar group Pfeifer & Langen, and the supplant.com domain stopped resolving.
Zume, founded in 2015 as a robot-powered pizza maker by Julia Collins and Alex Garden, raised roughly $445 million, including about $375 million from SoftBank in 2018 at a reported $2.25 billion valuation. Its signature model of cooking pizzas in automated, GPS-equipped ovens inside delivery vans proved capital-intensive and never reached profitability. In 2020 the company abandoned food entirely, acquiring packaging maker Pivot and pivoting to compostable food packaging while laying off more than 500 staff, including its whole robotics and delivery-truck teams. The packaging pivot also failed to become a viable business, and in June 2023 Zume became insolvent and shut down, liquidating its assets and ending one of the most heavily funded experiments in food robotics.