Startups that produce lab-grown meat and meat substitutes are gaining traction and raising cash in global markets, mirroring a surge of support food tech companies are seeing in the United States.
New partnerships with global chains like McDonald’s in Hong Kong, the launch of test kitchens in Israel and new financing rounds for startups in Sydney and Singapore point to abounding opportunities in international markets for meat alternatives.
The limited-time menu items featuring OmniFoods’ pork alternatives show that the fast food chain remains willing to offer customers vegetarian and vegan sandwich options — so long as they live outside of the U.S. In its home market, McDonald’s has yet to make any real initiatives around bringing lab-grown meat or meat replacements to consumers.
Speaking of lab-grown meat, consumers in Tel Aviv will now be able to try chicken made from a lab at the new pop-up restaurant The Chicken, built in the old test kitchen of the lab-grown meat producer SuperMeat.
The upmarket restaurant doesn’t cost a thing: it’s free for customers who want to test the company’s blended chicken patties made with chicken meat cultivated from cells in a lab that are blended with soy, pea protein or whey, according to the company.
Impossible Foods raised $500 million in a Series F round, bringing its total funding to nearly $1.3 billion.
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Mirae Asset Global Investments, a new backer, led the round, according to a statement from the company. Existing investors, including Khosla Ventures and Temasek Holdings, also participated. The last …
Impossible Foods, the privately held meat replacement challenger to publicly traded Beyond Meat, said it has raised roughly $500 million in its latest round of funding.
The new investment brings the company’s total haul to $1.3 billion since it was founded nearly nine years ago.
The new financing led by Mirae …
Look, this is the last post I’m writing in 2019 and I’m tired. But I can’t let the year close without taking stock of how well tech stocks did this year. It was bonkers.
So let’s mark the year’s conclusion with some notes for our future selves. Yes, we know that the Nasdaq has been setting new records and SaaS had a good year. But we need to dig in and get the numbers out so that we can look back and remember.
Let’s cap off this year the way it deserves to be remembered, as a kick-ass trip ’round the sun for your local, public technology company.
We’ll start with the indices that we care about:
The tech-heavy Nasdaq Composite rose 35% in 2019
The SaaS-heavy Bessemer Cloud Index rose 41% this year
Next, the highest-value U.S.-based technology companies:
Microsoft was up around 55% in 2019
Apple managed an 86% gain in the year
Not be left out, Facebook rose 57%
Amazon posted its own gain of 23% in 2019
Alphabet managed to grow by 29%, as well
Now let’s turn to some companies that we care about, even if they are smaller than the Big Five:
Salesforce? Up 19% this year
Adobe was up 46% in 2019, which was astounding
Intel picked up 28% in the year, making it no slouch
Even Oracle managed to gain 17% in 2019
And so on.
The technology industry’s epic run has been so strong that The Wall Street Journal noted this morning that, powered by tech companies, U.S. stocks “are poised for their best annual performance in six years.” The Journal highlighted the performance of Apple and Microsoft in particular for helping drive the boom. I wonder why.
For nearly everyone, that is. While tech stocks in general did very well, some names that we all know did not. Let’s close on those reminders that a rising tide lifts only most boats.
2019 naughty list
Several of the most lackluster public tech companies were 2019 technology IPOs, interestingly enough. Who didn’t do well? Uber earns a spot on the naughty list for not only being underwater from its IPO price, but also from its final private valuations. And as you guessed, Lyft is down from its IPO price as well, which is not good.
Some 2019 IPOs did well in the middle of the year, but fell a little flat as the year came to a close. Pinterest, Beyond Meat and Zoom meet that criteria, for example. And some SaaS companies struggled, even if we think they will reach $1 billion in revenue in time.