Chipotle’s $100M Food Tech Fund, Formo Received €35M, and CarboCode's €15M for Human-Identical Breast Milk

Also: Meati Foods almost doubled revenues in 2024 from 2023 and is on track to achieve positive gross margins by year-end.

Hey, welcome to issue #88 of the Better Bioeconomy newsletter. Thanks for being here!

If you’re working on (bio)tech-based solutions for sustainable food systems, I’d love to connect. I started this newsletter to meet folks with similar interests, so feel free to reach out to chat on LinkedIn or hop on a call—I’m always happy to discuss ideas and opportunities! 🙂

Let’s dig into the latest updates on the intersection of biotech and agrifood!

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BIO BUZZ

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📈 Meati Foods almost doubled revenues in 2024 from 2023 and is on track to achieve positive gross margins by year-end

Credits: Meati

• By adding major retailers such as Sprouts (280 stores), Raley’s (118 stores), and Harris Teeter (250 stores), the mycelium-based alt meat company expanded its retail presence to approximately 7,000 locations.

• Meati achieved a 130% increase in distribution year-over-year and engaged a firm to audit over 1,000 stores to ensure consistent stock availability, accurate pricing, and proper promotional signage.

• While the broader meat alternative market faces challenges, Meati’s focus on less-processed, simple-ingredient products resonates with health-conscious consumers seeking cleaner options.

Source: AgFunder

🧬 genXtraits and Solis Agrosciences collaborate to accelerate novel crop development using biotech

• genXtraits specializes in developing crop varieties with traits like environmental stress tolerance and improved nutrition using a proprietary bioinformatics platform and DNA editing techniques.

• Solis offers end-to-end crop improvement services, including gene editing and molecular screening, and has a strong industry presence with experienced leadership. Recently, Solis expanded its capabilities by acquiring Ferris Genomics' assets for genomic sequencing.

• As part of the collaboration, Solis will validate the functionality of genXtraits' bioinformatic predictions and create gene-edited plants with beneficial traits. genXtraits will commercialize the resulting crop varieties or license them to seed companies for inclusion in their breeding programs.

Source: GlobeNewswire

🤝 Pivot Bio has partnered with Logan Agri-Service to distribute its microbial nitrogen solution across Logan Ag's retail network

• The solution, PROVEN® 40, uses Pivot Bio’s patented gene-edited microbial technology to deliver nitrogen directly to crop root systems. This approach provides a sustainable, efficient alternative to traditional nitrogen fertilizers, benefiting both crop yields and the environment.

• Logan Ag will distribute PROVEN® 40 through its locations in Illinois, Missouri, and Ohio, providing widespread access to this advanced agricultural solution.

• The partnership combines Logan Ag’s experienced agronomists with Pivot Bio’s innovative products. This synergy supports farmers with expert advice and advanced solutions, helping them reduce input costs, improve yields, and enhance long-term agricultural resilience.

Source: PR Newswire

💨 Windfall Bio scaled up its methane-eating microbes fermentation to 17,000 litres, enabling commercial-scale production of organic fertilizers

• Windfall’s methane-eating microbes transform methane into valuable products, such as nitrogen-rich organic fertilizer and carbon credits. These products help meet sustainability targets, address decarbonization goals, and reduce reliance on synthetic fertilizers.

• The Californian startup partnered with FERMWORX, a speciality fermentation company, to validate large-scale mems production and support deployment readiness across various methane-intensive industries such as agriculture and waste management.

• To establish a market presence, the company is conducting greenhouse and field trials, pursuing regulatory approval for its organic fertilizer, and providing customers with large samples.

Source: GlobeNewswire

🧀 Plantopia plans to produce casein proteins in sprouted oats at pilot scale using molecular farming later this year

Credits: Plantopia

• Compared to soy and corn, sprouted oats are said to allow faster protein production (days instead of weeks). Indoor cultivation of oats mitigates regulatory hurdles and reduces allergen-related risks, making it a more versatile platform.

• The Israeli startup produces all four casein proteins separately (alpha S-1, alpha S-2, beta, kappa) and combines them post-extraction to mimic cow's milk functionality by forming micelles.

• Plantopia uses a transient method to induce oats to produce caseins without permanent genetic integration. This aligns with non-GMO classification in some regions, simplifying market entry via the GRAS pathway, especially in the US.

Source: AgFunder

🇸🇬 Singapore's parliament passed a bill to adapt its agrifood systems to climate change and advance novel foods

• The bill defines and formalizes regulations for "defined foods," including cultivated meat and precision-fermented products, which lack a significant history of consumption in the last 20 years.

• The bill requires rigorous pre-market approval for novel foods, considering health and safety risks, production methods, and patterns of consumption. The Singapore Food Agency (SFA) can cancel approvals if they are obtained fraudulently, do not meet agreed conditions, or pose risks to public interest.

• The bill will be implemented in phases, with provisions for defined foods starting in the second half of 2025 and full implementation by 2028. SFA will provide safety guidelines and virtual clinics to help novel food producers meet regulations.

Source: Green Queen

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BIO BUCKS

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🇳🇱 The Netherlands funded €25M to launch two open-access facilities for cellular agriculture to support planet-friendly food production

Thank you, Netherlands!

• The facilities were developed through a public-private partnership involving Cellular Agriculture Netherlands, Nizo Food Research, Mosa Meat, the Dutch National Growth Fund, and the agrifood ministry. Various investors, such as Nizo and the province of Gelderland, contributed to the project.

• The Biotechnology Fermentation Factory in Ede will scale precision fermentation technologies, while Cultivate at Scale (a spin-out of Mosa Meat) in Maastricht will focus on cell culture bioprocesses. Both offer infrastructure for startups to accelerate R&D and production and enable faster market entry.

• The facilities, supported by strong expertise and advanced regulatory environments, aim to reduce startup costs, foster innovation in sustainable food systems, and attract international business to the Dutch Foodvalley.

Source: Green Queen

💰 Chipotle doubled its Cultivate Next venture fund to $100M, targeting early-stage investments in food tech

• The fund focuses on early-stage investments to address key challenges in agriculture, restaurant technology, automation, and supply chain efficiencies. It aligns with Chipotle’s strategy to grow its operations and reach a target of 7,000 restaurants across North America.

• The fund, established in 2022, has already backed companies like Meati Foods (mycelium-based protein), Zero Acre Farms (sustainable oils), and Plantible (duckweed-based proteins).

• According to Chipotle's chief customer and technology officer, the fund's expansion signals confidence in the selected companies’ potential to enhance experiences for restaurant teams, farmers, and suppliers.

Source: vegconomist

🥯 Formo received €35M venture debt from the European Investment Bank to expand dairy alternatives and advance animal-free casein approval

• The new funding will enable Formo to scale production of koji protein cheeses, create new products through its micro fermentation platform, and pursue regulatory approval for its precision-fermented animal-free casein protein in the US and EU.

• Formo anticipates completing the GRAS (Generally Recognized as Safe) determination for its recombinant casein protein in the US by the end of 2025 and is preparing a comprehensive novel food dossier for EU approval.

• The EIB loan, backed by the InvestEU program, signals the EU’s commitment to fostering innovation and sustainability by unlocking €372B ($381.4M) in investments by 2027.

Source: Green Queen

🍼 CarboCode raised €15M Series C to advance production of human-identical breast milk molecules using biocatalysis and fermentation

Credits: CarboCode

• The Portuguese biotech startup’s proprietary platform combines biocatalysis and fermentation to create human-identical glycosphingolipids (GSLs) and gangliosides. It focuses on improving the nutritional quality of infant formula to match the benefits of natural breast milk.

• The new funds will be used to launch a manufacturing facility, increase staff, and secure regulatory approvals in major markets (the US, Europe, and China). The company aims to have approvals by 2027–2028.

• GSLs and gangliosides are crucial for infant brain development, immune balance, and gut health. CarboCode’s production process mimics their natural form, providing an alternative that closely mirrors the benefits of breast milk and addressing gaps in current infant formula offerings.

💰 Investors: Iberis Capital (Lead investor)

Source: Green Queen

🏆 Robigo won the THRIVE Global X Scale-Up Program and received funding from SVG Ventures to advance precision microbial solutions for sustainable crop protection

• Crop losses due to pests and diseases represent 20–40% of global agricultural production losses. Robigo addresses this issue by using bioengineering and data science to create targeted solutions to combat these losses

• Robigo’s precision microbial platform empowers naturally occurring microbes to protect crops from diseases and pests, improve yields, and reduce the need for chemical pesticides.

• Robigo has demonstrated the versatility of its platform by targeting new crops and diseases and incorporating novel modes of action. The next steps involve conducting field trials to validate efficacy in real-world conditions and accelerating the development of market-ready products.

Source: THRIVE

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GEEK ZONE

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🌱 Combination of biochar and plant growth-promoting rhizobacteria mitigated heavy metal toxicity and improved stress tolerance in soybeans

Credits: Woo et al.

• The co-application of biochar and the cadmium (Cd)-resistant bacterium Leclercia adecarboxylata HW04 reduced the Cd content in the roots and soil by 31% and 47%, respectively, while increasing shoot Cd content, suggesting enhanced phytoextraction.

• Co-treatment also modulated stress hormones, increasing abscisic acid and reducing salicylic acid levels, which is linked to improved stress tolerance. HW04's indole-3-acetic acid and exopolysaccharides production contributed to Cd absorption and plant support.

• This approach offers a sustainable solution for heavy metal toxicity mitigation but requires further validation for environmental variability and safe soybean use in human consumption.

Source: Plant Physiology and Biochemistry

🌽 Soil inoculation with nitrogen-fixing bacteria boosts maize yield by supplementing fertilizer needs

• The study evaluated a nitrogen-fixing inoculant blend of Klebsiella variicola and Kosakonia sacchari, supplementing plant nitrogen by 38 kg/ha during vegetative stages (V8) and 12 kg/ha during reproductive stages (R1), indicating potential as a conventional fertilizer supplement.

• The inoculant increased maize grain yield by 0.11 Mg/ha, mainly through increased kernel density (+1.5% kernels/m²). Due to higher biomass, nitrogen accumulation increased by 4.8% (V8 stage) and 3.7% (R1 stage).

• The inoculant's effectiveness was most significant during the vegetative growth stages but diminished toward maturity. This suggests that while the technology can address early-season nitrogen deficits, it requires optimization for consistent performance throughout the maize growth cycle.

Source: Agronomy Journal

🛡 Self-assembled nano antiviral pesticide effectively controlled the destructive soybean mosaic virus, improving crop health and yield

• The study presents the first-ever design of a self-assembled nanoantiviral pesticide using star polycation (SPc) and seboctylamine to combat the highly destructive soybean mosaic virus (SMV).

• SPc binds with seboctylamine via hydrogen bonds and van der Waals forces, reducing its particle size to form a spherical complex. These changes improved the pesticide’s ability to wet leaf surfaces and adhere strongly, reducing runoff and increasing efficiency.

• The SPc significantly inhibited viral accumulation in soybeans. Field tests showed significant improvement in controlling SMV, leading to better crop health and productivity.

Source: Journal of Agricultural and Food Chemistry

🦠 Bacteria-based biofertilizers improved the yield and nutritional properties of black seed

• Known as "the herb from paradise," black seed (Nigella sativa L.) is a neglected yet valuable crop. It is rich in proteins, fibres, vitamins, and minerals. The study found that bacteria-based biofertilizers enhance its growth, yield, and nutritional value.

• The researchers used a randomized design with 11 treatment variations, including single bacterial strains, combinations, and synthetic fertilizers. Growth metrics were recorded at 15, 30, 60, 90, and 120 days, and the combination treatments showed progressive improvements.

• The combination of A. lipoferum and P. agglomerans showed the highest growth metrics: taller plants, more branches, flowers, and seeds. Plants treated with the bacterial strains also showed enhanced antioxidant properties and improved nutritional content (fat, moisture, carbohydrates).

Source: Food Science & Nutrition

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EAR FOOD

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🎧 LanzaTech’s CEO Dr. Jennifer Holmgren, on using microbes to combat climate change

• LanzaTech, led by Dr. Jennifer Holmgren, transforms industrial emissions like carbon monoxide and carbon dioxide into valuable products, such as fuels, fabrics, and consumer goods, using engineered microbes.

• The process involves fermentation of gases, not sugar, with proprietary microbes that convert waste emissions into ethanol and other biochemicals in seconds, enabling scalability.

• Dr. Holmgren stressed the need for immediate, multi-faceted solutions to combat climate change, noting that progress is impeded by overthinking and debating ideal solutions.

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BETTER BIOECONOMY EXCLUSIVE

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💬 My recent conversations with bioeconomy innovators

• Founder of Media City Scientific, Katie Bashant Day: A Scientist-Founder’s Journey to Make Biotech Research Reliable and Ethical

• Innovation Specialist at The Good Food Institute India, Devika Suresh: Laying the Foundation for Smart Protein Leadership in India

• Biotech consultant and ex-CSO of Vow, James Ryall: Bridging Science and Business to Support Startups Using Biomanufacturing

Check out more conversations!

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