News Roundup: Impossible Foods Launches Bowls; Mermade Raises $3.3M For Cell-Grown Scallops

Impossible Foods Launches Ready-to-Heat Bowls

Looking to drive consumer awareness for plant-based proteins, Impossible Foods introduced a new line of ready-to-heat, single-serve frozen entrees featuring a range of its plant-based meat ingredients including pork, chicken, meatballs and beef. The first set of products feature American and Asian-inspired varieties and the line will be expanded with additional Italian and Latin-inspired options in October.

“Convenience and accessibility are a huge part of this, and we’re excited to give people even more ways to try and buy Impossible products,” said Peter McGuinness, CEO of Impossible Foods, in a press release. “This is a major milestone that we’re proud of and hope will push the category forward in a meaningful way.”

The entrees range from a Sweet & Sour Impossible Pork bowl to Pasta Bolognese with Impossible Beef & Pork. The products contain between 10 to 13 grams of protein and 3 grams or less of saturated fat, depending on the variety. This is the first branded meal launched by the alt-protein which has previously featured its protein in a variety of co-branded foodservice menu items and CPG products including a collaboration with pasta maker Butoni. The line was developed in collaboration with co-manufacturer Golden West Food Group.

The launch follows news that Impossible Foods has reformulated its plant-based beef to contain less saturated fat and the same amount of protein as traditional beef. The company reduced the amount of coconut oil, potato protein and increased soy protein contents to bring Impossible Bee to 38%, or the recommended DV of protein per serving.

Mermade Raises $3.3 M For Cell-Cultivated Scallops

Cell-cultivated, alt-scallop maker Mermade announced the close of a 3.3 million seed round this week. The round officially closed in June and was co-led by OurCrowd, Fall Line and Sake Bosch.

The Isreal-based food tech startup said it will use the funds to hire new team members including stem cell and algae researchers as it works toward its goal of achieving laboratory-scale production by the end of next year. Unlike other cultivated protein makers, Mermaid is looking to create a circular, aquaponic system that uses algae to recycle the growth byproducts from its cell cultivation process.

Mermade said once that process is perfected, it will be able to easily apply it to create other seafood alternatives including calamari, shrimp and crab meat. CEO Daniel Einhorn said the company chose to focus on scallops as its first product due to its global popularity, high price point and supply chain challenges, the two of which it believes it can mitigate with its proprietary process.

“It’s easier to produce in comparison with other more complex meat products, and we can bring it to market relatively quickly,” said Einhorn. “Our production method will make it possible to reduce the cost of each scallop dish and to expand the market’s volume by orders of magnitude because supply will finally adjust itself to the high demand.”

Instacart Acquires Eversight

Third-party grocery delivery platform Instacart announced its acquisition of Eversight on Thursday, an AI-powered pricing and promotions platform designed for CPG brands and retailers. The technology automates the previously manual promotional pricing process, allowing brands and retailers to test customized pricing and promotions directly with individual customers at scale.

“When it comes to grocery shopping, we know that every dollar matters. With higher inflation and the average cost of groceries up, we’re taking even more steps to make food and daily essentials more affordable,” said Fidji Simo, CEO of Instacart, in a press release. “We’re [now] positioned to deliver even more value to our brand and retail partners, while also creating more opportunities for customers to maximize their savings both in-store and online.”

The platform will join Instacart’s existing Ads product and tech suite and will be accessible for retailers through Instacart Platform’s Carrot Insights dashboard. This gives brands and retailers access to insight online and offline consumer behavior, customers’ experiences, while narrowing in on targeted pricing and promotional strategies.

“Now more than ever, it’s critical that we’re delivering the right promotions to the right consumers,” said Lynn Hemans, VP of consumer intelligence and analytics for The Hershey Company, in a press release. “Eversight’s real-world, real-time insights help us find the price point or promotion that resonates with our consumers and leads to a purchase. The capabilities that Eversight and Instacart can bring to market together have the potential to be a significant improvement in how CPG brands learn, test, and measure campaigns across the grocery industry.”

Vegan Chocolate Industry Sees Swiss Interest

Premium chocolate maker Läderach Chocolatier Suisse expanded its offers with a 22 piece vegan chocolate line this week. The new line features cashew milk and coconut blossom sugar in place of traditional cane sugar.

“Our Läderach team is proud to offer the vegan community delicious new premium fresh artisanal vegan chocolates made bean-to-bar in-house and delivered directly from Switzerland,” said Nathanael Hausmann, president of Läderach North America, in a press release. “With our unique ingredients and extreme attention to craftsmanship, our new vegan chocolates can unlock a rewarding five sensory experience and compliment any occasion well, synonymous to our existing Läderach premium chocolate collection.”

The chocolates will be available throughout the U.S. and Canada. The news comes alongside an announcement from Switzerland-headquartered global food and beverage company Nestlé, that it has expanded its test run of a vegan KitKat formulation to 15 countries across Europe. The product initially rolled out in the U.K last year.