FH Ventures: 4 New Deals + 25 Demo Day Startups

Hey Hackers,

We just announced the full lineup of 25 pitching startups at our next Demo Day.

Find all 25 startups and their decks online here.

Out of 100+ applicants - we selected these primarily on:1) do we think this company will oversubscribe their round post demo day?2) what traction do they have to prove this could work?3) what impact would this have if it succeeds? 

Last year's Demo Day startups have already raised over $30M+ many of which closed directly from VC's / Angels at the Demo Day. e.g.

​If you haven't already - make sure to reserve your spot at the Demo Day here (coming up next Wednesday 16th March)

Onto 4 new deals of the week

AzarGen

HQ: South Africa Raising: $1M USD - Valuation: TBDStatus: (NEW: Searching Lead)Previous Investors: Industrial Development Corporation (IDC)Pitch: "AzarGen has developed a proprietary synthetic biology expression platform (US/ZA IP) for production of high-value compounds in plants. Proof-of-concept show great promise to express growth factors and high-value reagents with potential to achieve high scalability and production at lower cost, enabling viable scale-up economics for cultured meat.."Traction: 

• Proven technology through pilots AzarGen's expression platform (AZprom) shows compelling results compared to current 'benchmark' system.

• Achieved proof of concept for monoclonal antibody.

• Raising $1M USD to show proof of concept for growth factors.

Competition: Bright Biotech, Collplant, iBio, ORF Genetics, Core Biogenesis, Chi Botanic, Bioceres Crop Soultions, Medicago, Planet BiotechnologyLearn More / View Deck / Request Intro (sign up/sign in required)

INNOMY BIOTECH

HQ: Spain Raising: €1M EUR - Valuation: €5.5M EURStatus: (70% Subscribed - Closing Soon)Previous Investors: Pitch: "We created a platform of finished products fungi based meat, where we replicate the experience of eating meat in a natural and healthy way with the benefits of the fungi kingdom.  We use mycelium to generate fungal tissues that mimic the muscles of animals, allowing us to offer a variety of finished products.."Traction: 

• Operational food lab pilot production line set up in Spain

• Pilot burger development and launch in Spain

• Patent Filed in 2021

• Built strong commercial relations with Food & Beverages Industry leaders from Spain, France, UK, Ireland and Canada.

• Expect to close long term commercial deals with many of them during 2022.

Competition:  Mushlabs (Raising now), Atlast, Impossible Foods, Meati FoodsLearn More / View Deck / Request Intro (sign up/sign in required)

Extracellular

HQ: United Kingdom Raising: £750k GBP - Valuation: TBDStatus: (NEW: Searching Lead)Previous Investors: Pitch: "Extracellular is a biotech company focused on supporting cultivated meat companies scale their manufacturing processes sustainably and affordably. Extracellular will develop cultured meat manufacturing processes, and supply the raw materials needed to deliver these products (media, scaffolds and cell lines)."Traction: 

• I have a PhD is stem cell manufacturing, worked for a company that got to 500L bioreactors, and I've worked for a CDMO that did cultivated meat development: I supported the rapid scale up to a 50L bioreactor in 2 months.

Competition: CPI, Multus Media (Raising on FH), Roslin Technologies, Biomimetic Solutions, CellulaRevolution, CellRx, 3D, Bio-TissuesLearn More / View Deck / Request Intro (sign up/sign in required)

Yangi

HQ: Sweden Raising: $3M USD - Valuation: $15M USDStatus: (NEW: Searching Lead)Previous Investors: Johann KaiserPitch: "Yangi is a manufacturing technology for dry formed cellulose-based packaging. Our aim is to reshape the world of packaging and become the leading packaging solutions provider."Traction: 

• EIC Horizon 2020 Grant

• Solar Impulse efficient solution award technology through pilots

Competition: PulpacLearn More / View Deck / Request Intro (sign up/sign in required)

Popular Last Week

Bio2CoatRaising $500k USD to develop and produce edible coatings for natural preservation of fresh fruits. Bio2Coat maintains the nutritional value, improves the visual appearance and prolongs the shelf life of the fruit. More info + Deck

THICCRaising: $500K USD to create a portfolio of FMCG products based on the principle of "Less Sugar, More Taste" starting with ultra low sugar and plant based ice cream. More info + Deck

Sophies BioNutrientsRaising €5M EUR to grow microalgae for food grade protein in plant-based meats, alt dairy and more - resulting in a high in protein, source of carbohydrates, polyunsaturated fatty acids, iron and B vitamins. More info + Deck

+ Popular decks last week inc. Beyond Leather Materials, Bosque Foods, Spoonshot.

Good Reads / Graphics

• Interesting: After 7 years - AngelList decided to raise again. This time at a $4B valuation led by Tiger and Accomplice. Signs that even VC's see that the world of venture is changing. Today anyone with good deal flow can roll up an SPV and syndicate investments (like we do) into startups with a group of angels - powered by a whole new market of VC infrastructure:

• ​Unicorns: there's now 55 FoodTech unicorns according to Digital Food Labs most recent report on this space. Delivery still dominates with 58% of all the FoodTech unicorns listed working on some version of food delivery. More insights and data in the full report.

• Listen: Great insights from the Sequoia Capital partner Doug Leone about the state of Venture, the importance of investing for the long run (20-25 years), doubling down on winners, structuring boards, hiring associates, and avoiding being just a "momentum VC".

Selfish Plugs 

• Regenerative Agriculture is something I've heard a lot about but never really knew anything about. So this week we challenged our writers to deep dive into what Regen Ag really means - and what the 40+ companies in this space are doing to make a much more planet-friendly way to farm.

• FoodHack Summit: Only 10 early bird tickets left.

• Come join the founders of Oatly, Astanor, Infarm, QOA, BIOMILQ + 495 more of the best and brightest minds in FoodTech. Grab one of the last early bird tickets here.

Bit of Fun

So many memes to choose from I couldn't pick one - so here's two about inflation.

Thanks for reading today's edition, 

And until next time,

Arman

p.s. yes, we changed the email design today - please let me know what you think?

Arman Anatürk

Co-Founder & CEO @FoodHack (HackVentures)Disclaimer: ‍Investing in startups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. This communication is intended for experienced investors, with sufficient experience and knowledge to understand the processes and risks involved. Do your DD, make your own decisions, invest aware, your capital is at risk.