Investment Climate

Send a textPrefer: Jake Berber shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs.Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. This podcast is syndicated through our media partners; Foodtech Weekly and Vegconomist.Episode 7: Prefer: Jake Berber shares how to get funded in 2024In this episode, Alex talked to Jake Berber, co-founder and CEO of Prefer Coffee, who makes more affordable and sustainable food & beverages, starting with coffee. The talk focuses on investment outreach and strategies to attract funding or expand business opportunities. The discussion highlights real-world examples of successful outreach efforts and offers insights into overcoming challenges such as market skepticism or limited resources. Additionally, it underscores the need for authenticity, thorough research, and leveraging networks to maximize impact. Key Facts Prefer:Goal: To make delicious and affordable coffee without the beansRecently raised $2 MillionRound led by Forge VenturesAlex’s Top Findings:Staying proactive in providing updates and showcasing demand from B2B clients. “I was always checking in with positive updates of maybe MOUs or MTAs that we were signing where I could show this demand coming in for the story that we were telling. We are selling B2B to these large FMCGs and ingredient companies. Then I could say, "Look, now we've signed an MTA and we're going into R& D with these guys to make a product” so that keeps the conversation going.” Jake answered on being asked how he made sure the process is actually moving forward rather than getting stuck.Focuses on sustainability and climate change, not disrupting the coffee industry. “We wanted to share why we are making bean free coffee and I think it was really important to be a coffee company that wants to support the industry rather than saying coffee is the bad person. We wanted to say, in this case, climate change is the bad person. Climate change is sort of the villain of the story. So that was really important and actually a big communication change for us. This is a story that they were much more open to. So just that change of communication from making a product because coffee is bad to “Hey, I know the price of coffee is going up, but I think that we can help you out here so you can maintain these customers that love your taste and love your price.” Jake emphasizes.Showing market validation is important. Jake mentioned the reason why they needed oat latte before selling concentrate, “To unlock this business model of the ingredient/concentrate for the large FMCGs, they needed to see some market validation that people are actually interested in this. They needed to de-risk the market and so we launched this oat latte ready-to -drink just to de-risk that market showing them that people are interested. So in the meantime, we need to be doing all we can to grow this brand, to grow this company, to create traction. So this is a way that we can really take things and take matters into our own hands and just create traction.”

Send a textFabas: Anik Thaler shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 6: Fabas: Anik Thaler shares how to get funded in 2024In this episode, Alex talked to Anik, co-founder of Fabas Foods, which develops ingredient systems for amazing dairy alternatives. The talk focuses on the journey of securing investment for a food tech startup, including the challenges and decisions involved in raising capital. Overall, it discusses the challenges and strategies involved in fundraising, the importance of investor relationships, and the pivotal decisions that shaped the company’s direction.Key Facts Fabas:Goal: To change the way we eat in the future by bringing more beans onto our fields and plates.Recently closed seed round over CHF 1.3 million led by Swiss family office and some corporate investors.Alex’s Top Findings:Cold Outreach does not work especially when trying to get into Family Offices. When being asked if she ever heard of a family office in the past or already knew and then were looking for a warm connection, Anik answered “No, that's the thing with the family office. Normally they are not that present in public, maybe as other VCs who normally have websites and have LinkedIn profiles. So most family offices don't have that. You need to know some people who already know them, which makes it much harder actually to access those.”Be prepared to Pivot. “So as we raised our first CLA, so what we call then pre seed, we've been focused on building a B2C brand. So we started with a portfolio of B2C products. We made some hummus products, some burgers, and falafel. Always with the vision to bring more pulses onto our plates, but then we quickly realized that it's not just about launching new products to the market and having maybe a bit nicer taste with more locally produced products, but to rather really improve them. There we saw that the ingredients that are currently used are one of the biggest challenges to overcome. So that's when we started to focus more on ingredient development ourselves and then pivot towards a B2B ingredient supplier.” she added.Speed to market is key in today's environment. “Our technology is based around extraction and fermentation, but we work with pulses, meaning fava beans, peas, chickpeas. All those sources are not novel food and the process itself neither which makes it much easier to access the market quickly.” Anik said on being asked if they are on novel foods.

Send a textfoodforecast: Justus Lauten shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 5: foodforecast: Justus Lauten shares how to get funded in 2024In this episode, Justus Lauten, founder and CEO of foodforecast, shared insights into his journey of building a startup focused on reducing food waste through AI-driven predictions for bakeries, supermarkets, and gastronomy. foodforecast uses advanced AI technology that enables precise sales planning, making production and ordering processes 100% automated and minimizing food waste. The segment provides valuable insights into how essential networking, traction metrics, and strategic investor introductions are in securing funding, as well as the reality of managing fundraising efforts over extended periods in challenging market conditions.Key Facts foodforecast:Goal: To reduce the value of food waste by 10 billion euros over the next 10 years.Raised over €3 million, led by three institutional investors: Future Food Fund, Scalehouse Capital, and Aeronaut Invest.Alex’s Top Findings:The First business angels were the management of the bakery. Justus shared that, “The first business angels were the management of the bakery. It was not the company itself. It was the private persons who were investing their private money. They were not familiar with the startup business, but they were seeing that the product was working and that was important for me that they were behind the idea and the product. Of course they also had networks inside the bakery companies as well into other bakery companies.” Knowing the effects of the investment and dilution is important. As Justus said, “We put a very low valuation into the contract because I was not very skilled at that point. I didn't know the effects of the investment and dilution and that the founder of course should always carry a certain amount of shares during the funding process. This is something that's very important to the investors and that you as a founder should always look at. You should always make sure that you have enough shares for each round. They would have gotten too many shares which would have endangered the next round because the next VC would say okay look this is not working.”When The crisis happens, often your customers can become your investors. “I went to the lion's den in January or February. We got a deal but then unfortunately Corona also hit Germany and all the restaurants and bakeries had to shut down partially. The deal more or less fell flat. At that point I had only spent my personal money and my bank account was nearing zero. I was getting nervous. That was the point when I approached the business angels first, so they were already customers, they knew exactly what I was doing, they knew also the potential of the software so they were really the angels in that part of the story because they helped the company survive and really push to the next level in finding an institutional VC.” Justus added

Send a textBygen: Lewis Dunnigan shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 4: Bygen: Lewis Dunnigan shares how to get funded in 2024In this episode, Alex talks to Lewis Dunnigan, Co-Founder & CEO at Bygen, which has developed a unique new technology called 'low-temperature activation' (LTA) that enables the production of sustainable and high-quality activated carbon. The discussion highlights the strategic considerations for startups navigating licensing agreements and the importance of aligning interests between founders, investors, and partner organizations. The emphasis on operational transparency, risk mitigation, and the importance of a strong foundational technology is critical for gaining investor trust and achieving long-term success.Key Facts Bygen:Goal: To enable the low cost and sustainable production of a material called activated carbonRaised US$ 2.5 Million led by some Australian climate tech investors, including Breakfree Victoria, Albert's impact capital and Artesian Investments.Alex’s Top Findings:Focus on licensing the technology rather than build on operating production facilities. “Our decision early on to focus on licensing the technology rather than build on operating production facilities, it really kind of enabled us to even be considered a viable investment by a VC because it is a means to grow the company through relatively little investment.” Lewis emphasized.Signing-up offtake agreements before production. Lewis said, “We basically sign-up offtake agreements before production plants come online. That's an easier way to sell it. You don't get the same high value as you get by selling it in small quantities. So we sort of keep 95 percent of our offtakes for those types of customers and then we also have some internal sales capabilities to sell smaller amounts at higher prices on the spot market.”Getting the IP out of the university. “We did manage to get the IP out of the university but it wasn't an easy process. We actually went out and got feedback from the market and said that we don't think that we'll be able to raise money if we license it, sub-license the technology, or if we have the technology but there's significant royalties attached to it. They have equity in the business in return.” Lewis added.

Send a textÄIO: Nemailla Bonturi shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 3: ÄIO: Nemailla Bonturi shares how to get funded in 2024In this episode, Alex talks to Nemailla, CEO of AIO, which are producing more sustainable fats and oils by using yeasts and upcycling side streams from industry and agriculture. She talked about the strategic approach to fundraising, challenges with European regulations, and the importance of versatile revenue streams. She also highlighted how local government grants played a pivotal role in setting up their pilot plant and expanding the team by providing €1.8 million in non-dilutive funding, which also improved their valuation. Key Facts ÄIO:Goal: To change the way we produce, consume and perceive foods and other productsRaised €6.1 Million, €1.8 million grant from the Estonian Business Innovation Agency.Lead Investor is 2C Ventures Joining the round was Nordic for Tech VC, Voima Ventures, and SmartcapAlex’ Top Findings:Prioritize Shorter Commercial Regulatory Path- Cosmetics are usually quicker than food in terms of regulation. “Our investors understand that novel food will take time. We are preparing ourselves. We're going to apply in the U.S. but also we are aiming for other verticals such as cosmetics. So we have already started to prepare to be added to this ink list so we can start selling cosmetics. So we have proof that it's also very versatile. So you can go to food, you can go to cosmetics, you can go to pet food. It's one process, one product, and a very diverse application. And that we are very driven towards the price.” Nemailla highlighted on the podcast.Serendipitous Investor Connection at a Local Event. The company met its lead investor, 2C Ventures, through an unexpected encounter with an LP during a local event in Tallinn.When choosing scale up partners make sure they speak your business language- in this case it was Singapore. “I think the first part is finding the partner that has all the capex you need. We work with side streams. It's not like rocket science that we need very fancy equipment. But of course we need to have the right set of equipment, and they need to follow exactly how we tell them. So they have to be flexible towards our know-how. So this is one point. The second point, what made AIO go to Singapore is the speed. They're very flexible, they are very good business people.” Nemailla added.

Send a textThe Raging Pig Company: Arne Ewerbeck shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 2: The Raging Pig Company: Arne Ewerbeck shares how to get funded in 2024In this episode, Alex talks to Arne, Co-Founder of The Raging Pig Company, a Hamburg-based food tech startup focused on developing and distributing hog alternative products. Their current offerings include a wide range of plant-based German sausages, including bacon, with plans to expand into other products and mycelium-based options. The conversation highlighted that success in the food tech startup landscape, particularly for alternative protein products, hinges on creating exceptional products, building strong relationships with investors, and maintaining a unique brand identity. By focusing on these areas, The Raging Pig Company has been able to secure funding and establish itself as a promising player in the market.Key Facts The Raging Pig Company:Goal: To revolutionize bacon that lets you enjoy the taste that you love in a healthy, sustainable and cruelty-free way.Currently raised seed round led by Sprout and About Ventures.Alex’ Top Findings:Measure Your Market- Going Bottom To Top. As per Arne “From the bottom to the top, how many plant based sausages were sold last year? Because that is the market. You're addressing in the first place in the short term and obviously that number will be very small compared to what you think the potential market size would be and obviously then you can think about.”Your Brand Doesn't Need To Be Provocative. Arne highlighted that “There's no reason for us to be provocative towards a company which is producing pork products. That's something which we are not doing. We already have a brand which gets a lot of attention anyway. We don't need to put our fingers to somebody else.”Be a brand that offers an experience. “Everybody has a very clear description of what they would expect. No matter how good the product tastes, the consumer would always look for the experience of having a sausage. So when it comes to how the product works, texture, taste, mouthfeel, what happens with the sausage after you grilled it, for example. All of these properties, you need to address. Aside from just the right spices and saltiness level, this is something which is very important. What the consumer cares about, other than the price and the taste, is they want to be entertained.” Arne added.

Send a textNovameat: Giuseppe Scionti shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 1: Novameat: Giuseppe Scionti shares how to get funded in 2024In this episode, Alex talks to Giuseppe, CEO and Founder of Novameat, a food tech company based in Barcelona that focuses on creating next-generation plant-based meat alternatives (whole cuts, deli cuts, and shredded cuts. Giuseppe emphasizes the importance of long-term relationship-building with investors and the concept of lines versus dots. The key techniques and strategies are also highlighted, as well as some practical insights on how they close the round.Key Facts Novameat:Goal: To set a new standard for superior whole cuts that have the same delicious flavour and texture as animal meat but come from a different protein source.Raised €17. 5 Million Series A.Lead Investors: Sofinnova Partners and Forbion.Alex’ Top Findings:It took 18 months to close this round and Giuseppe was prepared with that timeline in mind. Be realistic to what rounds take and work way backwards. As per Giuseppe “We are Planning from the beginning to be a resistant company. So we were set up for whatever it takes to find the best iInvestors, that means the best fit.”Make in person conferences special, Giusape brought the R&D head of the world's best restaurant with him to conferences to offer unique experiences to investors and VIPs. ”Because we are in Barcelona, you need to take advantage of what you have. We have the number one, best restaurant in the world, Frutar. I brought with us the R&D chef. We got the booth, we showed the products and we took advantage of all the great investors that we can get to the conference, get the list of them, use the platforms of the conferences.I brought a lot of investors in the back door of the hotel, in the actual kitchen, where the chef of the hotel really loved our product. But this was not shown in the conference. It was a VIP experience that nobody knew about.” Giuseppe added.Be prepared to stalk. When you are in a room with a VIP investor which might be hounded by others, take the time and wait until he goes to a more secluded spot. Come up and thank him for the impact of the talk or their work and build the relationship. You will be afraid but do it anyway. Just like Giuseppe experiences, he shared “I actually stalked one of the most famous investors in the cafeteria outside of the conference. I actually followed the person because everybody was talking to this famous person. I was drinking coffee alone outside of the hotel in San Francisco since nobody would follow him outside of the hotel. I stopped him when I saw him and said “Hello. It was great to listen to you in the panel and you may be interested in this or that.”

Send a textREDUCED: Emil Munck de Voss shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 16: REDUCED: Emil Munck de Voss shares how to get funded in 2024In this episode, Alex talks to Emil, co-founder and CEO of REDUCED, founded in 2020, aims to tackle food waste by creating flavor solutions from food side streams. These flavor solutions, such as intense stock or broth, are sold to food professionals and manufacturers for use in products like ready meals, meat alternatives, soups, and sauces. Email emphasizes the importance of preparation, relationship building, and understanding both the financial and operational aspects of fundraising in closing the round. He highlights several important techniques and strategies for securing funding, especially in the food tech sector.Key Facts REDUCED:Goal: To reduce food waste by using vegetables, protein and other sources of nutrition left over from the conventional food industry.Raised €8 million in August 2024Investors: Novo Holdings, ECBFAlex’ Top Findings:Investor Relationships: Emil emphasizes the importance of networking and building relationships within the food industry through advocacy groups and boards, which led to several key investor introductions.Fundraising Approach: Emil prepares thoroughly for investor meetings, recognizing that one bad meeting can kill an opportunity. He stresses the importance of clear, truthful communication in all dealings with potential investors and partners. He also encouraged demonstrating the product's value by bringing samples to investor meetings and inviting investors to see the production facility firsthand.Fundraising Strategy: Build momentum by creating a wide funnel of potential investors. Prioritize face-to-face or voice meetings over emails to build relationships and gain insights. Provide information in steps to maintain engagement and better understand if the investor is a good fit. Respond quickly to maintain momentum and create urgency in the fundraising process. Practice pitches with less likely investors to refine the presentation before approaching key prospects.VCs vs. Corporate Investors: VCs provide valuable insights into metrics and scaling, fostering an operational mentality focused on growth and performance. Corporate investors contribute by bringing industry knowledge and commercial insights, which are vital for innovation in food tech. Both types of investors can complement each other on the cap table.

Send a textDe Novo Foodlabs: Jean Louwrens shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 15: De Novo Foodlabs: Jean Louwrens shares how to get funded in 2024In this episode, Alex talks to Jean Louwrens, co-founder and CEO of De Novo Foodlabs, which focuses on using precision fermentation to produce scarce proteins more sustainably and affordably, addressing the challenge of harvesting these nutrients from nature. Jean shared insights on raising a seed round led by Joyful Ventures and building strong relationships with investors. He also highlighted the importance of partnering with large corporations for regulatory support and co-funding, even if it requires some early-stage trade-offs, such as regional exclusivity.Key Facts De Novo Foodlabs:Goal: To give Food & Beverage and nutrition companies a competitive edge with innovative products that are healthier for humans and the planet.Recently closed seed round.Lead investor: Joyful VenturesAlex’ Top Findings:Relationship Building: Developing strong relationships with investors early, even in informal settings, can lead to future investment.Corporate Partnerships: DeNovo has secured strong partnerships with large companies, especially in the dairy industry, for regulatory support, co-funding, and market insights, which has reduced their reliance on venture capital. Commercial Traction: Despite not yet being able to sell commercially due to regulatory hurdles, DeNovo shows traction through letters of intent, regulatory support, and corporate collaboration to prepare for market entry.Off-take Agreements: Locking in pricing for off-take agreements is really challenging, as costs of production may change. Jean recommends creating financial models to project costs and building wiggle room into contracts for price adjustments.Regulatory Strategy: Navigating regulatory approval (e.g., FDA) is complex and time-consuming, often taking longer than expected. To minimize risk, startups should seek advice from legal experts and people who have successfully navigated the process, especially those who worked with regulatory bodies like the FDA.Advice for Early-Stage Companies: Jean advises focusing on customer traction, leveraging corporate partnerships for regulatory and funding support, and potentially seeking external due diligence for competitive analysis.

Send a textAIPERIA: Franz Seubert shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 14: AIPERIA: Franz Seuber shares how to get funded in 2024In this episode, Alex talks to Franz, co-founder and CEO of AIPERIA, a German based SaaS solution that helps suppliers and retailers in sustainable demand planning for fresh food by enabling end-to-end planning from production to supermarket shelves to ensure only what is sold is produced. Their solution is currently used in around 3,000 stores. Franz emphasized the importance of maintaining ongoing communication with investors, preparing thoroughly for due diligence with an organized data room, and having a team with both business and technical expertise. Key Facts AIPERIA:Goal: To expand both internationally and vertically into the fresh produce assortments of bakery, convenience/deli, packaged meat and flowers & plants.Recently closed $7.5 million Series A round in April 2024.Lead investor: Early Bird VCAlex’ Top Findings:Building Strong Relationships Early: Aiperia maintained ongoing investor relations, even between rounds, to ensure smoother fundraising efforts. Franz highlighted the importance of “closing a round before it's opened” through continuous engagement with potential investorsLeveraging Existing Investors: Aiperia already had well-known investors, like Early Bird, on its cap table. This significantly helped them attract more VCs. Having prominent investors on board early can create credibility and signal to other investors that the company is worth backing. Franz described the fundraising process as more inbound than outbound due to the strong network created through their existing investor relationships.Keep a well-organized data room: This includes all necessary documents like contracts, agreements, and financials. Being well-prepared for the legal, technical, and business due diligence processes can save time and instill confidence in investors. Understand the legal framework: Aiperia had a solid legal structure from their seed round, which made it easier and faster to negotiate their Series A. Franz advised founders to get an experienced lawyer who specializes in startup financing.Technical and Business Clarity: Investors did not perform in-depth code reviews but instead focused on understanding the company’s architecture, scalability, and cloud infrastructure. Franz pointed out that it's important for founders to have a clear roadmap for solving any technical gaps that investors flag, even if the current infrastructure isn't perfect.Building Trust with Investors: By focusing on relationship-building, demonstrating traction, and ensuring preparedness for legal and technical due diligence, Aiperia was able to close their Series A in a smooth, efficient manner. Other founders can apply these strategies by maintaining ongoing investor conversations, prioritizing strong legal and business foundations, and showcasing strong growth and a capable team

Send a textCultimate Foods: George Zheleznyi shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 13: Cultimate Foods: George Zheleznyi shares how to get funded in 2024In this episode, Alex talks to George, co-founder and CEO of Cultimate Foods, a Berlin based biotechnology startup developing a cultivated fat ingredient for plant based meat aiming to replicate the taste and texture of traditional animal meat. George discusses the importance of having strong Letters of Intent (LOIs), supported by Material Transfer Agreements (MTAs) and sample deliveries in closing their investment rounds. Key Facts Cultimate Foods:Goal: To improve the taste and texture of plant-based meats by offering a high-quality fat alternative that can replace expensive flavoring solutions.Recently closed €2.3 million seed round.Lead investor: HTGFAlex’ Top Findings:Preparedness: Having a well-organized data room, including strong LOIs, MTA agreements, and a clear regulatory strategy, was key. This preparation ensured that they could answer investors' questions and provide all necessary documentation efficiently.Strong Relationships with Investors: George mentioned that the relationship with their lead investor started during the pre-seed round. Even though they were not ready for investment at that time, they kept the relationship alive and returned when they were ready for the seed round. They maintained communication and came back to the same investor, showing progress and readiness, which eventually led to securing the investment.Letters of Intent (LOIs): Having strong LOIs, especially those supported by Material Transfer Agreements (MTAs) and sample deliveries, was crucial. These agreements with potential customers demonstrated that there was real interest and intent to purchase the product, which reassured investors. Regulatory Roadmap: Investors are concerned about the regulatory hurdles in the food tech space, particularly for cultivated meat products. George mentioned that they had already started working with regulatory consultants and shared their roadmap for submitting regulatory dossiers in multiple countries. This reassured investors that the company was aware of and prepared for the regulatory challenges ahead.Reference Calls: George facilitated reference calls between investors and potential customers. This direct communication allowed investors to validate the product's demand and its value proposition directly from industry stakeholders reassuring investors about the company’s market potential.Meeting High Standards: George noted that the requirements for startups have increased, particularly in the cultivated meat space. They had to present a level of market traction and technological development that might be expected of a Series A or B startup, even at the seed stage. Understanding and meeting these elevated expectations was crucial for closing the round.

Send a textEnifer: Simo Ellilä shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 12: Enifer: Simo Ellilä shares how to get funded in 2024In this episode, Alex talks to Simo Ellilä, CEO and co-founder of Enifer, a biotech startup in Finland that produces sustainable microprotein through the fermentation of industrial byproducts. Simon discusses the strategic approach Enifer took to raise their current rounds and a few key strategies that helped them secure funds from grants. He also highlights the need to demonstrate progress on the industrial facility and meet critical milestones to maintain investor confidence.Key Facts Enifer:Goal: To transform circular economy by-products into planet friendly protein.Recently closed a significant funding round with €15 million in equity, €9 million in loans, and over €12 million in government grants.Alex’ Top Findings:Proactive Preparation Pays Off: Enifer readiness was the result of anticipating funding opportunities and preparing well in advance. Startups should be proactive by having key documents and a data room ready, even if a grant isn’t immediately on the horizon. A well-organized data room, with clear blueprints, CapEx estimates, and historical data on the production process, was essential to securing both government funding and investor confidence.Key Elements of Letters of Intent: Many grants require proof that the rest of the project’s financing is either secured or on the way. Detailed and credible letters of intent from investors and potential buyers played a critical role in securing funding. These letters included specifics about investment amounts, project descriptions, and expected returns, increasing their persuasiveness.Develop a Convincing Business Case: It’s critical to show that your project isn’t just theoretical or experimental but has clear commercial viability. Enifer succeeded in part by demonstrating that their factory would be an industrial-scale production facility capable of generating significant revenue. Startups should focus on showing how the project will generate returns, mitigate risks, and align with government or institutional funding goals, especially in sustainability and innovation.Engage Early and Stay Updated on Opportunities: Building relationships with government agencies, grant organizations, and other funding bodies ahead of time can give startups a head start. Staying informed on upcoming grant calls and funding programs—especially those tied to broader economic or sustainability goals—enables startups to align their project timelines with available funding windows.Clear and Realistic Milestones: When applying for grants or presenting to investors, it’s crucial to break down the project into clear, achievable milestones. Enifer provided detailed CapEx and OPEX estimates alongside a phased timeline for their production ramp-up. This clarity helped mitigate perceived risks and gave confidence to the grant evaluators. Startups should aim to present similar structured milestones and cost breakdowns, which demonstrate thorough planning and feasibility.

Send a textYoLa Fresh: Youssef Mamou shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 10: YoLa Fresh: Youssef Mamou shares how to get funded in 2024In this episode, Alex talks to Youssef Mamou, Founder and co-CEO of YoLa Fresh who are focusing on improving the life of smallholder farmers and traditional retailers, reducing the food wastage by building an efficient distribution sourcing network, and technology. Youssef Mamou's discussion reveals a deep understanding of both the challenges and strategies involved in scaling Yola Fresh and illustrating the importance of networking and building relationships with potential investors even before actively fundraising. Key Facts YoLa Fresh:Goal: To be Africa's largest fresh produce supply chain company that is solving one of the toughest problems in the world with technology.Recently raised $7 million in a pre-Series A roundAlex’ Top Findings:Preparation Before Fundraising. Conduct thorough research and ensure your business model is validated before seeking investment. This preparation can significantly enhance your credibility with investors.Initial Interactions. Meeting investors informally, such as during panel discussions, can lead to productive conversations and potential partnerships. This casual engagement often helps in establishing a rapport before formal fundraising efforts begin.Choosing the Right Investors. Finding investors who align with your vision and business model is crucial. Youssef’s experience with VC funds and his ability to discuss the business in detail helped in attracting investors who were a good fit for Yola Fresh.Building Trust and Credibility. Establishing credibility with banks and investors is crucial. Demonstrating that you can manage operations and build trust can lead to better financing opportunities.Learning from Global Peers. Youssef emphasizes the value of learning from other entrepreneurs and startups globally. His visit to India and interactions with founders there provided valuable insights and inspiration for scaling Yola Fresh.Scaling and Investment. Investors are keen on seeing proof that a business can operate effectively and scale. A proven business model with strong unit economics and growth metrics is key to attracting investors. Once you’ve demonstrated consistent growth and profitability, securing funding becomes more feasible. Initially, investors might question whether you can reliably secure both demand and supply. Demonstrating your ability to handle these factors through hands-on experience and successful operations can address this concern.Managing Expectations. Fundraising can be a lengthy process, and managing expectations is key. Youssef’s approach involved being transparent about the business’s progress and addressing any concerns or objections from investors proactively.

Send a textMOA Foodtech: Jose Maria Elorza shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 10: MOA Foodtech: Jose Maria Elorza shares how to get funded in 2024In this episode, Alex talks to Jose Maria, Co-Founder of MOA Foodtech who upcycle byproducts from the food industry to elaborate high value ingredients and sell back to food producers to elaborate different types of products, helping the society to eat healthier and to move forward into a more sustainable world. Jose Maria provided an insightful discussion on the process of raising funds and the importance of being prepared for due diligence.Key Facts MOA Foodtech:Goal: To establish a new industry of sustainable food that solves growing global food demands without the need for arable land.Raised nearly 5 million in equity and over 2 million in grants.Last round closed in June 2024.ICOS Capital as lead investorAlex’ Top Findings:Maintain Conversation. MOA fundraising strategy involves maintaining continuous conversations with potential investors, even when not actively seeking funds, which helped them secure their most recent round in June 2024.He emphasized the importance of constantly engaging with potential investors, even if the timing isn’t right. Well-organized Data Room. Jose Maria emphasized the importance of a well-organized data room for due diligence, which in their case included legal documents, financial audits, projections, patents, and IP strategies. The data room was kept on accessible platforms like Google Drive or OneDrive, which is common among startups.Human Due Diligence. A unique aspect of their due diligence involved psychological profiling of the founders to assess how well they work together. This process included meetings, individual assessments, and a final report that was shared with investors.Copyright Registration. Jose also shared that MOA protected their proprietary algorithm by registering it with the U.S. Copyright Office, allowing them to safeguard their innovation without fully disclosing it publicly, unlike a patent.Importance of Preparedness. In advising other startups, he highlighted the importance of having a clear IP strategy and being able to demonstrate that all aspects of the business, from legal to financial to technological, are being carefully managed. This level of preparedness not only speeds up the due diligence process but also instills confidence in potential investors.

Send a textNiqo Robotics: Jaisimha Rao shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 09: Niqo Robotics: Jaisimha Rao shares how to get funded in 2024In this episode, Alex talks to Jaisimha Rao, founder and CEO of Niqo Robotics which is a robotics solutions pioneer that is poised to lead a sustainable Agricultural Revolution in India through AI powered agricultural robots. Having recently raised $21 million with the latest $13 million round closed in March 2024, Jaisimha highlights how Niqo Robotics secured funding from venture capitalists and how a million dollar convertible note became a 5 million lead check.Key Facts Niqo Robotics:Goal: To revolutionize crop care spraying in agriculture through their flagship AI powered Spot Spray Technology made possible by a proprietary agriculture camera.Recently raised $21 million with the latest $13 million round closed in March 2024.Fulcrum Global Ventures and Bidra Innovation Ventures as lead investors.Alex’ Top Findings:Building Strong Relationships. Utilizing a network to get introductions to key investors is essential. By leveraging connections and attending industry events, Niqo Robotics was able to get in front of the right people who could fund their vision. Spending time building relationships with potential investors, ensuring that they were not only selling the idea but also creating a connection based on trust and mutual goals helped a lot. This relationship-building was crucial in securing the lead investors.Role of Convertible Notes. The use of convertible notes played a crucial role in Niqo Robotics' early fundraising strategy. They provided flexibility, attracted early investors with favorable terms, simplified the legal process, and helped the company reach important milestones without immediate dilution of equity. This approach not only secured initial funding but also positioned Niqo Robotics for successful larger rounds in the future.Proven Traction. Before approaching VCs, Niqo Robotics had already demonstrated traction. They had working prototypes and initial customer feedback, which provided evidence of market demand and the feasibility of their technology highlighting how their robots could revolutionize sustainable farming practices. The unique value proposition and potential for disruption in the agriculture sector were key factors in attracting VC interest.Compelling Pitch. The pitch to VCs was well-prepared, focusing on the market opportunity, technological innovation, and the team’s capability to execute the plan. Emphasize the scalability of the business and the potential for significant returns on investment.Clear Use of Funds. Niqo Robotics clearly outlined how the funds would be used to achieve key milestones. This included expanding the team, scaling production, and accelerating go-to-market strategies. This clear roadmap helped VCs see the potential impact of their investment.

Send a textNutrumami: Frederik Jensen shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 08: Nutrumami: Frederik Jensen shares how to get funded in 2024In this episode, Alex talks to Frederik Jensen, founder and CEO of Nutramami who create multifunctional plant proteins to impact better taste, texture and nutrition through synergistic cross fermentation. Having recently raised €475k, Frederik highlights the importance of adaptability, relationship-building, and strategic pivots in the startup landscape and how their focus on execution and leveraging existing manufacturing infrastructure positions them well for growth in the competitive plant-based ingredient market.Key Facts Nutrumami:Goal: To create multi-functional plant proteins to impact taste, texture, and nutrition.Recently raised €475kCost Capital and Planetary Impact Ventures as lead investorsAlex’ Top Findings:Engaging in Continuous Conversations. One of the most beneficial strategies Nutramami employed was having a multitude of conversations. Each interaction with potential investors, partners, or stakeholders provided valuable feedback and insights, allowing them to refine their pitch, strategy, and business model iteratively. It was akin to running multiple tests where each test's outcome informed the next steps, ensuring we continuously evolved and improved.Building Strong Relationships. Another correct move was focusing on building and nurturing relationships. Instead of viewing each meeting as a mere transaction, Nutramami aimed to foster deeper connections. This approach not only facilitated introductions to key players like Cost Capital but also established a network of advocates and supporters who believed in our mission and were willing to help us succeed.Path to Market and Profitability. Avoiding complex regulatory pathways can speed up market entry and reduce costs. Nutramami benefited from not requiring regulatory approval for their plant protein. Utilizing existing manufacturing capabilities with a contract manufacturer, Nutramami aims for a faster path to market and profitability. The focus is on execution and market entry rather than extensive patenting, though they hold some patents.Preparedness and Strategy. Having a robust business plan, prototype, and team were essential for the pre-seed round. Every conversation and meeting is an opportunity to learn and refine the business strategy. Early feedback and testing are critical for progress.Identifying Market Gaps. Nutramami's founders leveraged their deep understanding of product formulation and market needs to identify gaps in the plant-based ingredient market. They focused on creating a new category of ingredients that offer a better starting foundation for product development.

Send a textSolvable Syndicate: Steve Simitzis shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 07: Solvable Syndicate: Steve Simitzis shares how to get funded in 2024In this episode, Alex talks to Steve Simitzis, Partner of Solvable Syndicate who invest in early stage food tech startups from pre seed to Series A with focus on companies promoting human and planetary health. Steve explains the benefits of syndicates for both founders and angels, shares insights into the current state and future of food tech, and offers advice for founders on effective fundraising and navigating challenges in the startup ecosystem.. Key Facts Solvable Syndicate:Goal: To invest in early-stage FoodTech and AgTech startups that advance a sustainable, nourishing food system.Check Size: $100K to $200KAlex’ Top Findings:Effective Fundraising Materials. Founders need to have compelling pitch decks and data rooms to attract investors. Providing straightforward advice on the investability of startups, while encouraging alternative paths if traditional VC funding is not viable. Founders need to keep working on their vision, possibly through other revenue channels or partnerships, even if immediate VC funding is not available,Market Positioning. Founders must market their startups effectively to potential investors, emphasizing the potential impact on climate, land use, and water resources, as well as demonstrating strong business fundamentals.Business Viability. Founders must find ways to generate revenue, lean down operations, or explore partnerships to sustain their startups, especially when facing difficulties in raising funds. Determining whether it’s the right time to continue pursuing the startup or pivot to other opportunities is a critical decision that founders must make, often with limited guidance..Syndicate Advantage for Angels. Reduces the burden of due diligence and deal sourcing. Offers access to curated and vetted investment opportunities. Allows for collaborative investment without the need for individual negotiation.Syndicate Advantage for Founders. Simplifies the cap table by aggregating multiple small investments into a single entity. Provides structured, vetted deal flow, increasing chances of securing funding. Helps in managing and coordinating smaller investments effectively, avoiding logistical issues.

Send a textCultivated Biosciences: Tomas Turner shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 06: Cultivated Biosciences: Tomas Turner shares how to get funded in 2024In this episode, Alex talks to Tomas, CEO & Co-Founder of Cultivated Biosciences who have raised over $6 million, primarily through equity rounds, with a recent $5 million closed in January. Cultivated Biosciences focused on creating creamy emulsions from yeast-grown fats as a B2B ingredient for dairy-free alternatives. Tomas talks about how the preparation, fundraising process and strategy their team did to achieve the goal. Key Facts Cultivated Biosciences:Goal: To solve the problem of texture and functionality in dairy free alternativesRaised a total of $6M USDNavos Ventures and Van der Lely family as lead investorsAlex’ Top Findings:Fundraising Preparation. Assembling a detailed pitch deck and structured data room is crucial. Include all achievements to date. Engage previous round lead investors for advice and preparation. Organize potential investor outreach through warming introductions and detailed data room access.Data Room Strategy. Use a Google Drive organizing the data room. Maintain a three-step access approach: initial slide deck, non-confidential data room, and NDA-protected detailed information. Follow a template that includes sections on technology, team, commercial, financials, and legal aspects.Identifying and Approaching Investors. Target investors with a history in AgriFood tech, especially those focused on seed-stage investments in Europe. Expand outreach to hardware and general seed investors, both regionally and globally. Utilize CRM tools like Notion to track and manage investor interactions and introductions.Challenges and Learning Points. Regulatory process and commercial traction were recurring due diligence questions. Be selective with sample distribution to avoid overburdening the R&D team. Delay sample sharing until later stages of due diligence.Final Reflections. Long-term industrial views from investors are so important. Balance production and R&D efforts during fundraising. Leverage industry connections and data for successful fundraising. Founders need to understand investor cycles and returns expectations.

Send a textSustainable Food Ventures: Mariliis Holm shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 04: Sustainable Food Ventures: Mariliis Holm shares how to get funded in 2024In this episode, Alex talks to Mariliis, Co-Founder and Partner of Sustainable Food Ventures who backs early-stage founders building leading food companies that are cell-based, plant-based and fermentation. Mariliis talked about their investment process and how possible it is for investors out there to make a call within two meetings with the right team and market size insights presented by the founders.Key Facts AgFunder:Goal: To support founders developing sustainable food products and scaling profitable companies in the global $12 Trillion food and grocery retail market.Invested in 59 companies.Deployed $4MAlex’ Top Findings:Outreach Strategies. One of the things that has been pretty fruitful specifically for Sustainable Food Ventures is applying through the website. The other one is great warm introductions for people who are either from fellow investors or fellow founders. Last but not least, LinkedIn is also a place that just cold reaching out can work really well.Investors Insight. Investors are here to provide not just funding but also guidance, support, and a network of resources to help them succeed. They are looking for a founder with the willingness to learn and adapt, have an understanding of the market and problem being solved, and a clear vision for the future.Going through Due Diligence. Investors out there can make a call within two meetings especially with the right emphasis on team, market potential, and personal intuition about the founder's passion and capability. Sometimes, investors would base it on the founder’s insights and attitude during the call rather than on pitch decks solely.Importance of Understanding Venture Capital. It is essential for founders to know if their company is venture-backable or if venture capital actually makes sense for them. Founders should understand venture basics, ideally through resources like "Venture Deals" by Brad Feld and Jason Mendelsohn. Recognizing if your venture is suitable for venture capital is so important.Advice for Founders. Always note that passion, perseverance, and a clear understanding of the venture process are critical. Ensure readiness for the complexities and accelerated growth expectations of venture funding. It's not just about the money or the immediate returns. It's about creating something meaningful and lasting, something that can change the world. The road to building a successful company is long and fraught with challenges, but with the right team, vision, and support, anything is possible.

Send a textAgFunder: Rob Leclerc shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 04: AgFunder: Rob Leclerc shares how to get funded in 2024In this episode, Alex talks to Rob, Founding Partner of AgFunder who have about $200 million assets under management. Rob talks about how investors are looking into companies nowadays and their expectations. He also discussed how the market shifting, sectoral challenges and founders roles affects the fundraising process in this current investment climate.Key Facts AgFunder:Goal: AgFunder invests in early stage food tech and ag tech seed to series A companies.$200 million company assets.Alex’ Top Findings:Market Shifting. There comes a saying nowadays that if you don't have the margins of tech, you're not tech. Tech valuations are not given anymore, not like from 2021. Record high food tech IPOs have crashed and cheap interest-free money has become very expensive.Alternative Protein Situation. Early on in the alternative protein days, there was an assumption that food was going to be technology, which means it was going to have gross margins and technology-like growth rates. The input costs are generally higher and the end products tend to be of premium products. Cost Challenges. Cost is one of the biggest drivers, but you have taste, texture, convenience, and health. Unfortunately, no company is kind of meeting and beating on all those categories. There's a small handful of companies that are able to compete on cost in certain categories in certain areas but there's still probably some compromise on taste or texture.Distribution Difficulties. You have tons of gatekeepers, whether it's in food service or retail. Distribution now is extremely difficult as people are sort of not willing to try products. Venture Capital Expectation. They are looking to have 10x return on their investments. It's harder than ever to get the attention of your ideal customer investors. Getting a 10x return from a seed round is very difficult. Companies should take the money and if you cannot build a profitable company with the money that you've got, you are probably not going to make it. When you've raised 25 million, 15 million for series A, and you need another one to two funding rounds before you even think you will get to profitability with your optimistic, distribution and sales goals.Company Strategy. Great companies are drowning in the noise of AI written emails, LinkedIn automation bots, and email sequences. Typically founders have spent hours looking through LinkedIn connections or share lists of hundreds of names of their investors to ask for interest. The process is time intensive and often really ineffective. Warm outreach allows you to easily map actual warm connections of your investors and team members by seeing beyond just the LinkedIn connection. Founders/CEOs Role. A product focused CEO and narrative driven CEO would attract capital. Investors want to see incredible execution. They want to see evidence that the CEO can manage every nickel in that com

Send a textBluu Seafood: Fabian Friede shares how to get funded in 2024Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs. Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies. Episode 03: Bluu Seafood: Fabian Friede shares how to get funded in 2024In this episode, Alex talks to Fabian, co-CEO of Bluu Seafood who joined the startup industry in 2010 and worked with investors on a lot of different digital businesses around the globe. He talks about the expectations in raising a fund both in the investors and companies aspect and how the importance of the two-steps closing have played in their recent fundraising.Key Facts Bluu SeafoodGoal: Bluu Seafood is a cultivated seafood company, and the goal is to provide people with healthy seafood products without destroying our planet.Raised 20+ Million Investors include Meta Ray Ventures, Leather VC, Sparkfood.Alex’ Top Findings: Challenges: Alternative protein as an industry is suffering from investor fatigue due to several different topics; overall slower progress than maybe promised or at least anticipated, high CapEx needs, and poor performance of public markets.Length of Fundraise: Bluu Seafood's recent round took about nine months, significantly longer than anticipated, highlighting the increased difficulty in securing funds and actually had to split it into two closings that are five months apart. Two-step closings become more common now. Two-step closings: when you have your investment agreement, create already shares that you can then give out to new investors that come on board on the second closing. If you give out a thousand new shares, you might create a capital reserve for another thousand. So you can actually collect the same sum again in the second closing, which is then done to the same condition, same valuation. So basically, you're closing the round to get capital in the bank, but allow for more time to get more investors on board. If the investor doesn't have any bandwidth to deal with you at the moment and you don't want to lose them, you might leave that door open via a second closing.Perspective on Lead Investors: Lead investors play an important role by committing the most capital, conducting due diligence, and giving confidence in smaller investors to join the round. It can definitely streamline the process and attract additional investors. The due diligence is mainly done by the lead investor. So once the lead investor commits so much capital, it is the vote of confidence.Effective Introductions: During the outreach, founders should give a list of potential co-investors and pre-written introduction emails for current investors to facilitate easier warm intros.Interpreting "Too Early" Feedback: When investors say that it is "too early," it may be a polite way of declining without burning bridges. Founders should seek genuine feedback for improvement.Cell-Based Space: Elements concerning cell based space include high CapEx and low margin products. As an investor, the need to evaluate what is the opportunity and what is the track is necessary. Scaling for example, you need to bring down the prod

Send a textRobert Boer-Director at Blue Horizon CorporationSeed Check Size: $50K-$500KPreseed-GrowthMain Takeaways From Conversation: VC will answer to Cold Outreach, but do your homework first. It has to be relevant to the Thesis. Don't Ask To Fund A Fish Farm if the VC Thesis is reducing Animal cruelty. Qualify the VC: 9/10 times, the founder asks no questions of the VC. What kind of board role do they want, how will they offer value, do you lead or follow, what is the check size, how far are you in the fund size- Ask questions to qualify if the VC is a fit. Make sure you leave 3-5 minutes at the end of the meeting to agree on the next steps and clarify anything that is unclear. What are their next steps? How long does the process take? Are you interested in moving forward? When should a founder shut it down? Having advisors who give you real feedback is crucial. It is another sign that it does not work with angels or family. If you are impact driven, you can take another model not funded by VC. Redefine how you can get to your ultimate goal. '2024- The Year Of M&A: Look to merge with another company that is congruent with your mission and fills in each other gaps. Position your fundraising with the opportunity of buying another company's assets or IP. Speak to corporate gatekeepers: If your final user is accessed through corporates like distributors or large companies- speak with those companies early to validate your assumptions. This podcast is sponsored SWARM- The Swarm gives companies and investors the keys to their networks and the business relationship data they need to grow.Use theswarm.com/alex for a 25% discount.

Send a textUnlock the secrets to weathering the storm of fundraising in a tumultuous investment climate with Tim, the pioneering CEO of Nosh Bio. As our esteemed guest, he unveils the narrative of his company's gripping quest for seed funding against a backdrop of spiraling interest rates and a slumping food tech IPO market. His candid revelations offer an insider's map to crafting an irresistible equity story that not only draws investors in but aligns them with the vision of creating sustainable, animal-free proteins. In a masterclass of networking finesse, Tim sheds light on the vital role that personal connections and strategic introductions play in the VC world. He reveals how a meticulously curated hit-list of 100 investors and the leverage of industry insiders can swing doors wide open, paving the way for startups to secure that critical investment. Each anecdote and insight shared by Tim functions as a beacon for entrepreneurs navigating the murky waters of fundraising, providing the beacon needed to attract the partners who will champion their groundbreaking ventures.