Food Entrepreneur - March 3, 2020 - 18

PEPSICO

FOOD ENTREPRENEUR

Skinless popcorn start-up
secures seed funding

Molecular
Plant-based
coffee - no
baby formula
beans about it to launch

CHIPOTLE

ATOMO

NEW YORK - Papa's Pops, a brand of skinless popcorn, has raised $1.25 million in a seed round of investment. Founded by food industry veteran Vic
Bauer, the company uses a popping process that removes the skin, or hull,
to improve digestibility. Flavors include sweet and salty, white cheddar,
sweet cinnamon, ranch, honey mustard and onion, and barbecue.
Investors and advisers include Patrick Finnegan, co-founder of WorldState; Justin Mateen, co-founder of Tinder; Mike Heller, founder of Talent
Resources; and Peter Rahal, co-founder of RXBAR. ▪

PURCHASE, N.Y. - Ten emerging food and beverage brands are joining
PepsiCo, Inc.'s second annual North America Greenhouse program. The
start-ups will receive $20,000 in grant funding and participate in a sixmonth business program designed to accelerate their growth through
personalized mentorship.
"PepsiCo's Greenhouse program aims to accelerate growth for entrepreneurs who have built purpose-driven brands that are changing the way
consumers eat and drink," said Daniel Grubbs, managing director PepsiCo
Ventures Group.
At the end of the program, one company will receive an additional
$100,000 in funding based on its progress, level of collaboration and partnership with PepsiCo mentors. The start-ups selected for the 2020 program
are Beauty Gourmet; Love Corn; MudLrk Snacks; Numilk; Nuttee Bean Co.;
Shindig, L.L.C.; Siren Snacks; Spudsy; Superfrau; and Synapse. ▪

Chipotle launches new
farmer-focused accelerator
NEWPORT BEACH, CALIF. - Chipotle Mexican Grill, Inc. is launching the
Chipotle Aluminaries Project 2.0, the second iteration of its farmer-focused
accelerator program.
The eight-month program, sponsored by the Chipotle Cultivate
Foundation and non-profit Unchartered, was designed to support ventures
that provide solutions to challenges faced by young farmers, including
access to land, finance and labor. Mentors include Seth Goldman, founder
of Honest Tea; Ken Meyer, former global vice-president of Whole Foods
Market; Robyn O'Brien, co-founder of replant Capital; and Brian Irving, chief
marketing officer of Eventbrite; along with Chipotle executives. ▪

Food Business News

SEATTLE - A Seattle-based start-up
has developed molecular coffee,
which contains the same amount
of caffeine found in a regular cup of
coffee - sans the coffee bean.
Atomo uses upcycled plantbased ingredients to create compounds found in traditional coffee.
The company runs each ingredient
against coffee's chemical fingerprint
to create "building blocks" that are
used to develop new varieties. Atomo is working on creating bean-free
coffee grounds and ready-to-drink
coffee beverages.
"Our coffee is as lab grown
meat is to conventional meat," said
Jarret Stepforth, Ph.D., co-founder
and chief scientist at Atomo. ▪

ELSE NUTRITION HOLDINGS

PAPA'S POPS

Start-ups selected for
PepsiCo accelerator

TEL AVIV, ISRAEL - A start-up
founded by veterans in the infant
nutrition space is launching organic,
plant-based toddler formula made
with almonds, buckwheat and
tapioca. The product's debut in
the U.S. market this spring follows
nearly seven years of research and
development, said Hamutal Yitzhak,
co-founder and chief executive officer of Else Nutrition Holdings Inc.
Other options in the
marketplace contain dairy or soy
ingredients, which are top allergens,
Ms. Yitzhak said.
"We've heard from thousands
of parents worldwide that there's a
need for something else - a real
viable alternative," she said. ▪

March 3, 2020

Food Entrepreneur - March 3, 2020

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