Beth Kaiserman

PeaTos yesterday announced the close of a $7 million funding round, which included a $3 million convertible note from 2019. The round was led by financial services firm Jackson Springs Management Partners and venture capital firm Connetic Ventures, with participation from returning investors Apu Mody and Carlos Barroso, along with an undisclosed private hedge fund and former NBA basketball player Tracy McGrady.

This week in the checkout, plant-based brand Lightlife pens an open letter to Beyond Meat and Impossible Foods urging them to use cleaner ingredients, Meanwhile, KIND commits to using only “bee-friendly almonds” and plant-based cheese and butter brand Miyoko’s comes out ahead in its labeling lawsuit against the state of California.

Natural and organic products maker Hain Celestial increased net sales 1% to $512 million in Q4, the company announced today in its fourth quarter and 2020 earnings report, after Q3 marked the first time the brand saw gains since 2018.

In this week’s Checkout, Walmart and Target report Q2 earnings and plans to enhance delivery options, while DoorDash adds grocery stores to its platform. Also, Propeller Industries gains investment from Newlight Partners.

Although federal CBD regulations remain in limbo, some retailers are pushing forward to capitalize on consumer interest in the ingredient. This month CBD retail chain American Shaman opened its first ‘store-within-a-store’ concept inside of Kansas City, Mo.-based grocery store Price Chopper.

In this week’s Checkout, Impossible Foods raises $200 million, Once Upon a Farm launches a shoe collaboration with Tom’s, and Kroger will add a third-party marketplace to its e-commerce site this fall.

A proposed rule by USDA, ‘Strengthening Organic Enforcement,’ aims to curb organic fraud via more oversight of the organic marketplace, including production, handling and sales. If implemented, it would be the largest update to organic oversight in 20 years.

An innovative, novel ingredient — such as a fermented protein found inside volcanic rock — can be difficult to explain. As a result, ingredient suppliers often find themselves creating or evolving into CPG brands to showcase their unique ingredients before outside brands are willing to commit. It’s a move that can help drive ingredient sales, but also requires new capital, skills, labor and time to execute.

In this week’s Checkout, Indigo Agriculture raises $360 million to fuel its sustainability platforms, GoMacro powers its community with renewable energy and the Food Supply Protection Act is reintroduced.

Following the ongoing relaxation of GMO labeling laws by the USDA, a coalition of industry members led by the Center for Food Safety last week sued the agency, noting that a lack of regulation over the growing biotech industry is threatening the ability to provide transparency in food and beverage products — something consumers increasingly want.