The Checkout: ChickP Raises $8 Million; Bush’s Beans Hosts Can Film Festival Contest

Welcome to The Checkout: an express lane for the weekly news you need to know, always 10 items or less.

ChickP Raises $8 Million and Brings In New CEO

Plant-based food tech company ChickP announced this week it has closed an $8 million Series A round led by investors from Singapore-based Genisys Capital Private, Ltd., and backed by Growthwell Foods, Ltd. and its leading investor, Temasek Holdings. Along with this new capital, the Israel-based nutrition company announced it has named Liat Lachish Levy as CEO.

The company, which uses its chickpea isolate protein ingredient to produce a neutral-tasting powder, said it will use the new funding to expand its team and scale globally. ChickP recently opened a new production facility, doubling its manufacturing capabilities, and also signed on with new distribution partners in the U.S., South Africa and Asia-Pacific region, the release states.

“Over the past few months, ChickP has been planting the seeds for accelerated growth in the U.S., Europe, and Asia,” Lachish Levy said in a press release. “This investment will bring greater scale-up and commercialization capabilities with our partners for our chickpea isolate ingredient, in multiple territories. Moreover, the expansion of ChickP’s team and opening of our new offices, including an R&D center and applications lab, will support local commercial activities.”

Lachish Levy comes to ChickP with over two decades of executive-level experience and has led global business ventures at companies such as Kraft-Heinz and Kelloggs, with a specialty in retail and foodservice.

“I am excited to join ChickP and lead it to global scale-up in an area that is, without a doubt, the most relevant in the food industry today,” Lachish Levy said in the release. “Completion of the current round of funding is an expression of confidence from our investors and partners in the company. I am glad to join ChickP at this unique moment, and to lead business expansion into the global market.”

Bush’s Beans Host First Ever ‘Can’ Film Festival Contest

Bush’s Beans is playing off its own commercial tagline – “Roll that Beautiful Bean Footage” – to inspire the “next era of beautiful bean content” with the launch of its first Bush’s Beans Can Film Festival. The competition challenges consumers to create their own Bush’s Bean can footage. According to the company, the original advertisement has created a niche of bean-related Instagram Reels and TikToks.

“With all the fun bean content online, we’ve had a front row seat to see just how talented some of these up-and-coming creators are,” said Brittanie Weaver, Director of Marketing, in a press release. “Why not showcase that talent and invite them to roll that beautiful bean footage with us?”

The terms of the competition, which officially kicked off this week, include posting a 15 to 30 second video to either Instagram or Tiktok with the hashtag #BushsCanFilmContest by February 11.

The winner will be announced during the virtual Bush’s Can Film Festival event on March 3 which will be hosted by actor and content creator Adam Rose with support from multiple content creators and filmmakers such as Ben Treat and Tommy Gupta. The winning submission will be aired as Bush’s next commercial and the winner will receive a $50,000 cash prize.

Vertical Farm Plenty Secures Walmart Partnership and Investment, Closes $400 Million Round

Indoor vertical farming operation Plenty and Walmart announced a distribution agreement this week bringing Plenty’s leafy greens to all of the retailer’s California locations. Alongside this announcement, Plenty closed a $400 million fundraise led by One Madison Group and JS Capital with SoftBank Vision Fund. Walmart also invested an undisclosed amount during this round and representatives from both One Madison Group and Walmart will join Plenty’s Board of Directors.

“The indoor farming sector is at an exciting inflection point, poised to reach its full potential as a new asset class that addresses the significant need to provide access to fresh, nutritious food year round,” said Omar Asali, Chairman and CEO of One Madison Group, in a press release. “Plenty has truly ‘cracked the code’ on the technology and economics of indoor farming. It has developed an innovative and scalable model that can deliver fresh, sustainable produce to retailers, growers and governments anywhere in the world.”

The company said it will use the new capital to continue leveraging its technology and sell multi-crop farms directly to its partners, with the goal of distributing on a global scale. Plenty’s indoor farms utilize vertical towers and an intelligence platform; this modular system allows the company to grow multiple crops on one platform.

“We are pleased to work with a strong group of investors who recognize how Plenty’s proprietary approach to building and selling farms delivers a scalable, cost-efficient pathway to bringing fresh, clean produce to market 365 days a year, anywhere in the world,” said Arama Kukutai, Plenty CEO, in a press release. “Having Walmart, as one of the world’s largest retailers, partner with us demonstrates the rising importance of indoor agriculture to the future of fresh and their belief in Plenty’s unique technology solution.”