Amazon Creates $1 Billion Fund for Supply Chain Innovation

Amazon will invest $1 billion into supply chain technology.

Amazon is launching a $1 billion venture investment program for logistics and fulfillment technology.

The e-tail giant’s new funding initiative, called the Amazon Industrial Innovation Fund (AIIF), is meant to advance and support innovation in customer fulfillment, logistics, and the supply chain. According to Amazon, increasing customer demand for online shopping and fast delivery led it to create the fund.

Amazon says the new fund will invest in companies that develop and provide solutions that “incrementally increase delivery...

Chipotle Launches $50 Million Venture Fund to Foster Innovation

Chipotle is launching a $50 million venture fund.

Chipotle Mexican Grill is hoping to revolutionize the restaurant industry.

The quick-service restaurant chain announced the launch of Cultivate Next, a venture fund that will support seed-to-Series B stage companies that focus on increasing technology and innovation in restaurant operations and align with its mission to “Cultivate a Better World.” The fund will have an initial size of $50 million and will be financed solely by Chipotle.

The fund launch comes as the company is continuing its...

Cal-Maine Foods, Inc. Announces $82.0 Million for Capital Projects to Expand Cage-Free Production

Cal-Maine Foods, Inc. today announced that its Board of Directors has approved new capital projects to further expand the Company’s cage-free egg production capabilities. The Company plans to fund the proposed projects for an estimated total of $82 million through a combination of available cash on hand, investments and operating cash flow.

The proposed projects will include the following Cal-Maine Foods’ locations:

- Delta, Utah - four new cage-free layer houses and two pullet house conversions with capacity for approximately 810,000...

Amazon Partners with Universities and Colleges to Fully Fund Tuition for Hourly Employees

Amazon announced today that it is further expanding the career advancement opportunities it offers its 750,000 hourly employees in the U.S. by partnering with more than 140 national and local universities to provide fully-funded college tuition. The announcement is part of the company’s ongoing enhancements to Career Choice—an Amazon upskilling program designed to help frontline employees grow their skills for career success at Amazon or elsewhere.

Today’s announcement brings into the program dozens of local colleges and universities and four new national nonprofit education providers...

Ethnic E-Grocer Weee! Raises $425 Million Series E Round Led by SoftBank Vision Fund 2

Weee! (www.sayweee.com), the largest and fastest-growing ethnic e-grocer in North America, today announced it secured $425 million in Series E financing led by SoftBank Vision Fund 2. Greyhound Capital also participated in this round alongside the company's existing investors. The capital will be used to expand Weee!'s platform offering across new and existing ethnicities, and scale grocery and food delivery services to new geographies providing more customers with access to exciting food at affordable prices. The company will also...

Deliverect Raises $150 Million in Series D Funding, as it Reaches 100 Million Orders Processed

Deliverect, a global scale-up that simplifies online ordering for more than 20,000 locations across 40 markets, today announced it secured more than $150 million (€130 million) in Series D funding. The funding, which is led by Coatue and Alkeon Capital as well as existing investors OMERS Ventures, DST Global, Redpoint Ventures, Newion and Smartfin, brings Deliverect to $240 million raised to date. This round marks the company's valuation at over $1.4 billion.

With this latest round of funding, Deliverect... 

SHIC Receives Pork Checkoff Funding for Program Extension to 2027

The National Pork Board of directors has approved an additional $15 million investment of Pork Checkoff funds in the Swine Health Information Center (SHIC) extending funding through 2027.

Launched with Checkoff funds in 2015, SHIC works to protect and enhance the health of the U.S. swine herd. This is done through coordinated global disease monitoring, targeted research investments that minimize the impact of future disease threats and analysis of swine health data.

The investment brings direct value back to producers through SHIC’s animal health research priorities...

Green Circle Foodtech Ventures Announces the Launch of Fund I with Participation from Hormel Foods

Green Circle Capital Partners is pleased to announce the launch of their venture capital division, having conducted a first closing for Green Circle Foodtech Ventures I (GCFV) with the anchor investment coming from 199 Ventures, the venturing company of Hormel Foods.

“Having a leading global branded food company in our corner, providing support and resources for portfolio companies, is incredibly exciting and opportune for us and for the companies in which we will invest,” said Stu Strumwasser, founder of Green Circle and Co-Managing...

Pilgrim’s Supports Mayfield Recovery with $1 Million Investment

Pilgrim’s, leading global food company and the largest employer in Graves County, Ky., today announced a $1 million investment to assist with community recovery needs and support long-term rebuilding efforts resulting from the recent tornado that impacted the area.

“We are humbled to contribute to the relief efforts in our hometown of Mayfield,” said Kent Massey, Pilgrim’s Mayfield complex manager. “The community has always supported us, and we are focused on helping with the efforts to rebuild during this critical time.”

Pilgrim’s will determine how funds will be...

Impossible Foods Closes $500M in New Funding Amid Record Growth

California-based Impossible Foods announced today that it has secured approximately $500 million in its latest funding round, led by existing investor Mirae Asset Global Investments with participation from other existing Impossible Foods investors.

Impossible Foods is now the fastest-growing plant-based meat company in retail, outpacing the next 10 leading plant-based meat companies combined, according to custom IRI research analyzing U.S. dollar sales for the most recent 13-week period compared to one year ago. This funding round will enable its continued growth in retail...

GrubMarket Raises $145 Million Series E to Accelerate Profitable Growth

GrubMarket, a San Francisco-based food technology company, announced today it raised $145 million in a heavily oversubscribed Series E funding round from funds and accounts managed by BlackRock, Liberty Street Funds, Japan Post Capital, Walleye Capital, Celtic House Asia Partners, INP Capital, Pegasus Tech Ventures, RIVC and Gaingels, among other unnamed participants. This round values GrubMarket at over $1 billion.

"We have experienced an incredible acceleration of growth in the last 12 months – revenues are up more than 300% over last year, reaching a $1...

Grubhub And Restaurant Strong Fund to Give $4 Million to Restaurants

Today, Grubhub, a leading global online food delivery marketplace, and The Greg Hill Foundation's Restaurant Strong Fund, announced they will be giving $4 million in grants to support restaurants across the country that have been working hard to survive the pandemic. Ranging from $5,000 to $50,000, the grants are part of the Restaurant Strong Fund's All Day campaign and will help restaurant owners fund indoor and outdoor dining improvements, equipment and technology maintenance and upgrades, marketing and promotion efforts, staff hiring and training, Covid-19...

NPPC Commends House Lawmakers For African Swine Fever Funding Request

The National Pork Producers Council commended seven House members for requesting funding to protect the U.S. swine herd from African swine fever (ASF).

In a letter, the lawmakers urged House Speaker Nancy Pelosi (D-CA) to prioritize funding for USDA’s Animal and Plant Health Inspection Service (APHIS) to address a potential outbreak in the United States of ASF, which recently was detected in the Dominican Republic, the first time in 40 years the disease has been in the Western Hemisphere. Funds are necessary “to ensure that pork producers in our districts and across the country do not suffer the severe consequences of a potential ASF outbreak in the United States...

CHKN Not Chicken Announces Series A Funding to Accelerate Retail and Food Service Distribution

CHKN Not Chicken, the plant-based chicken alternative announced today the closing of a Series A round of funding led by Stray Dog Capital. The company will leverage the financing to launch its product assortment into retailers across the U.S. and expand partnerships with Quick Serve and Casual Dining restaurants to bring plant-based chicken products to the food service channel. This launch is the culmination of two years of research and development of its proprietary extrusion, flavor-infusion, and enrobing technology that allows...